Developing the Marketing Strategy For Wal-Mart By Course: Tutor: Affiliation: Date: Developing the Marketing Strategy for Wal-Mart Introduction Wal-Mart is virtually the largest company in the global retailing industry with more than two million employee base both in the US and on the global platform. The firm has significantly evolved and is currently occupying one of the most comfortable niches in the retail business despite going through numerous hiccups in determining an appropriate form of retail outlet to adopt. With enormous ambitions to take over the market leadership in the retail industry Wal-Mart has consistently engaged in the exploitation of every opportunity and space available in both America and the global market which has earned it a unique brand name. The essential strategy the company adopted was to establish a solid ground in the home soil by concentrating on building the local US market before venturing into the overseas subsidiaries are located Wal-Mart should formulate appropriate corporate social responsibility policies. The firm should inculcate the culture of commitment rather than compliance to facilitate efficient and effective implementation of its corporate strategy. References Gerdeman D. (2011). Getting the marketing mix right. [S.l.] Harvard Business School. proquestcombo.safaribooksonline.com Hicks M. J. (2007). The Local Economic Impact of Wal-Mart Youngstown NY: Cambria Press. Huang R. & Sarigollu E. (2012). How brand awareness relates to market outcome brand equity and the marketing mix. Journal of Business Research 65(1) 92-99. Mackay C. (2011). Effective marketing: in easy steps. Southam: In Easy Steps. public.eblib.com Shabanova L. B. Ismagilova G. N. Salimov L. N. & Akhmadeev M. G. (2015). PEST-Analysis and SWOT-Analysis as the Most Important Tools to Strengthen the Competitive Advantages of Commercial Enterprises. Mediterranean Journal of Social Sciences 6(3) 705. Soderquist D. (2005). The Wal-Mart way: the inside story of the success of the world's largest company. Nashville T. Nelson. [...]
You are required to prepare a 1,800 word report on the following You are a marketing executive and the organisation you work for is looking to expand their market. This can be achieved either through introducing a new product (product development), extending an existing product (product extension), or targeting a new consumer market with an existing product (market development). In order to fulfil this task you must: a. Identify the organisation’s current product portfolio b. Assess the company’s internal and external environment and undertake a SWOT analysis based on your chosen organisation c. Identify all possible opportunities for growth, then select and justify one option that has most potential for growth using Ansoff’s matrix d. Undertake a Segmentation, Targeting and Positioning analysis for the proposed growth e. Develop a marketing mix for the proposed growth Assessment Guidance: When choosing an organisation there are no restrictions as to which organisation you can choose. However, before you decide on your chosen organisation, undertake some research to make sure that there is enough information available to you. The organisation can be from anywhere around the world. However, the organisation you pick must be a REAL, tangible organisation and one that is currently in business. You should submit your report to TURN IT in.All material, including charts, diagrams and statistics should be correctly referenced. A minimum of SIX different sources should be given (eg textbooks or business reports/websites but not lecture presentation material or general websites). All material, including charts, diagrams and statistics should be referenced using the Harvard system. Assignment Criteria: A minimum of 6 academic references must used within this assignment. This is a 1,800 word report (+ or – 10%) please ensure that you do not go over the word count. If you wish to gain higher marks you will need to engage in further reading using not just textbooks and but also articles, and you should read around the topics. You must acknowledge ALL your source(s) and all work should be correctly referenced using the Harvard system, with a complete reference list at the end of the paper. There is a guide on Blackboard so there are no excuses. You may include appendices, however, they serve only as a point of reference and NOT another way to write more. If you wish to include an images and/or relevant theoretical models to assist you in your explanation then do so. A Identify the organisation’s current product portfolio 10 marks B Assess the company’s internal and external environment and undertake a SWOT analysis based on your chosen organisation 20 marks C Identify all possible opportunities for growth, then select and justify one option that has most potential for growth using Ansoff’s matrix 20 marks D Undertake a Segmentation, Targeting and Positioning analysis for the proposed growth 20 marks E Develop a marketing mix for the proposed growth 20 marks F Correct use of the Harvard referencing system and at least 6 academic references Systematic, logical approach to writing 10 marks N.B. Just because marks have not been attributed to the introduction and conclusion it does not reduce the importance of these components and should not be ignored. Learning outcomes: • Understand the influence of the organisation’s aims, strategy, culture and resources and the broader business environments. • Utilise a range of tools and techniques to analyse and evaluate markets, market opportunities and market segments. • Use market and financial data to set and monitor marketing objectives and prices. • Develop tactical level marketing plans which define marketing mixes appropriate to the marketplace, target group and market conditions. Deliverables and submission: You should submit your report through TurnIt In by the due time and date. Key skills: This assignment contributes evidence towards attainment of the following key skills: • Communication • Problem solving • Improving own learning and performance.