It has been found that in order for a business to succeed in a competitive market, it must shift with the market and not fight against it. This is something that Wal-Mart has failed to completely do. Wal-Mart, being a company that is known for its lower prices on everyday value, has struggled in the recent years in the competitive market it is in. A portion of their problem comes from the lack of being able to keep up with the competition around them. The competition has caught on to the marketing tactics of Wal-Mart and soon stores such as Kohl’s and Target have become a huge threat to the once retail giant.
Another issue that Wal-Mart has always struggled with is employee rights. There has always been the controversy of fair pay rate and the company treating its employees fairly. This is bad publicity and does horrible and opposite outcomes to the challenge of the marketing team. Another complaint among consumers is the size of the store. The store is not easily navigated and the customer is not able to easily get the item they intended to get. The store’s size makes it a hassle versus a convenience and soon going to the store down the street and paying a little more is more of a convenience.
Wal-Mart’s original marketing plan was to put the stores where they were needed most, eventually this resource dried up (Hartung, 2012).
The stores were added where the research said that they were needed and soon the idea was no longer making the company grow. They next used the idea of expanding their stores and adding more and more to them. That helped increase profits, but they still needed more. It was not enough. The idea of expanding internationally came next. Unfortunately this was a flop. It became too easy for the competition to move and overtake.
The Term Paper on Wal Mart Case Argentina Company Disco
Wal-Mart International Case Introduction In 1993, Wal-Mart had become America! |s leading retailer, with net sales of $67 billion from its Wal-Mart stores, Sam! |s Clubs, and Wal-Mart Supercenters. The Company had grown at a rate of 25% per year since 1990, and it was clear that to continue at its current rate of growth, Wal-Mart would have to seriously consider continuing its recent international ...
The advancement in technology has been an issue all over the world in the marketing and growing of the businesses. In Wal-Mart’s case the technology advancement of the mobile device actually hurt them rather than helped them. A customer is able to go to Wal-Mart, where the prices are suppose to be the lowest, and search the same product on their mobile application and find it at a lower price. This is a severe disadvantage for the retail chain. The technology advancement of shopping online has hurt the store rather than helped it.
Although, the Wal-Mart company has tried to implement technology into their stores to help the sales increase. A person can go online and order a product and either have it delivered to their home or to the store for pick up. They have also added kiosks to the store too in order to help them. Some find these to be helpful while others are not entertained by this (Smith, 2010).
Wal-Mart has never struggled with customer service in particular. They have always done very well on their surveys and they are known for their door greeters.
This is an area where Wal-Mart has actually excelled. The customer relationship management portion of the company has succeeded in keeping the customer happ (Smith, 2010)y. Another technology advancement that has helped with customer service is random surveys that are printed off with the receipt of customers. They are able to give feedback on their service and experience of the store and they are then given a chance to win a portion of money or giftcard from the store. In Marketing, the company must utilize the marketing information resources they have at hand.
The Term Paper on Wal Mart Customer Company Sam
... the company was built on. Sam Walton built Wal-Mart on the revolutionary philosophies of excellence in the workplace, customer service ... the information pertaining to their computer and distribution systems due to their high regard towards their IT department. Wal-Mart ... a marketing and sales success. Bibliography "1998 Year-end Earnings Fact Sheet," Wal-Mart, February 24, 1998, pigs. 1-2." Wal-Mart: ...
Pertinent marketing information comes from three resources: internal company information, marketing intelligence, and market research. In the internal company information, this includes information on sales, orders, customer profiles, stocks, and customer service reports. The marketing intelligence includes information from suppliers, customers, and distributors. The market research is the actual studies that the company provides to collect the information on being able to strategically market for the firm (Bhasin, 2010).
Wal-Mart has not had great success in the marketing department over the years. In recent times, Wal-Mart decided to change their marketing plan from the marketing team reporting to the CEO to the sales department. The pure objective of this change was to put all the energy of marketing into trying to further defend the Wal-Mart business and drive up the sales (Hartung, 2012).
Wal-Mart took the energy that would help them focus on new ideas and innovations and research to increase their company, and devoted it into the same focus and objective that they have had in past years.
This limits the span of new ideas that would attract new customers and outlooks from the public. The marketing team is unable to provide new and catchy marketing tactics in order to grab the attention of consumers that have doubted Wal-Mart’s integrity due to their negative attention from the media. Overall, Wal-Mart has not done a great job with their marketing. It seems that in the beginning, the retail chain had the ideas and enthusiasm to make the retail chain the biggest and the best of the competition.
As times have changed, Wal-Mart has not made the changes to keep up with the competition around them. They have stuck with the same marketing schemes that they always had and have not looked for the new tactics in order to expand. This seems to be shown clearly in the profit numbers and the not increasing stock numbers. Wal-Mart would benefit from redoing their whole marketing team and using the valuable marketing steps to find the problem in their marketing strategy. Works Cited Bhasin, H. (2010, Novemeber 10).
The Term Paper on Marketing Strategy For Wal mart
Marketing Strategy for Wal-Mart Mission Statement The mission of this paper is to define the best management strategy for Wal-Mart Corporation. In order for us to come up with recommendation of how to increase Wal-Marts commercial effectiveness, we will have to analyze different aspects of companys operations. In its turn, this will require an understanding of what defines companys commercial ...
