Who are competitors?
Some of the competitors of Wal-Mart are listed as following;
• Target corporation
• Taxco
• Carrefour SA
• Costco wholesale
Marketing Objective of the Product
Marketing objectives as related to the product of Wal-Mart are;
• To provide initiatives for food goods for sustaining the nutritious values and are focusing on advanced technologies.
• Focusing on safe and discounted shipping also the online shopping facilities are also is given.
Overall Objective
Overall objective of Wal-Mart is to have better sales and running successful business for that the organization closes its such stores that was not profit generating and whom sales was not in a position to carry out their main focus of discounts and to overcome such actions developing such stores whom products are appealing and attractive for the customers.
Strategic Objective For Every Primary Objective
As far as the strategic objectives of Wal-Mart are considered as the goals that overcome the weaknesses which are faced by the organization and be effective as compared to its competitors. The most appropriate strategy focused by the organization is to have huge expansion of network and work hard in making goodwill[linkunit] means to have strong brand name which is only done in result of the satisfaction of customer’s satisfaction. Another strategy of Wal-Mart Corporation is to dominate in the retail market and be more competitive. As the strategic objectives are strictly followed and implemented by the company and for that reason corporation is maintaining its dominant position in the market.
Target Market Segment
The target segment of Wal-Mart is their customers and they attain the knowledge about their customer’s behaviors and attitude so that they came up with different improved products to achieve the desired results.
Wal-Mart Marketing Mix
Product
Products and commodities provided by the Wal-Mart company are all types of baby, men and women wearing, electronics, health care products, movies, pharmaceutical products, books, sport goods, grocery etc.
Price
As the Wal-Mart is in fact not the producer of the company but they provided products at very low rates as comparison with the local market as is almost giving discounts of about 15% regarding competitors that’s why people are more attracted towards Wal-Mart.
Place
There are thirty eight stores of Wal-Mart providing its services in different countries. In different countries like Mexico, Canada, China, Brazil, United Kingdom, South America, Japan and India Wal-Mart is operating with different outlets.
Promotion
Promotional activities are done by their own website which is working very efficiently. By providing seasonal offers and good discount packages and also the online shopping strategy is becoming the most effective source of earning.
Main Strategies
Market Penetration
The company is focused on expanding the market in India because many of the food used in India is rotten as one can use it because lack of the cold storages so the company is going to target India mainly.
Market Development
[large]As by seeing the interest of people through different aspects and by conducting surveys the company develop the enhanced market and also by the understanding taken from the people especially from their customers.
Diversification Strategy
At the time of early 1990s, the Wal-Mart Corporation made a huge growth in their market shares by introducing good groceries in their stores and diversified their market as attractive definite cultural/national groups through different advertisements and step ahead in encouraging responsiveness as far as environmental issues are concerned.
Monitoring and Control
Monitoring and controlling of Wal-Mart is based on the manufacturer and distributors of them and managing the transportation as well as shipments disputes. At present the company is more focused on controlling fuel prices.
Budget
In 2011, the total revenue generated was $ 421.849 billion (approximately) and also the current year net sales are recorded as $256.3 billion with an increase of 11.6% in excess of net sales as compared to the previous years.
References
• "The Wal-Mart Timeline." Wal-Mart (published on walmartfacts.com). Retrieved on March 25, 2012
• “Wal-Mart 2011 Annual Report” Wal-Mart 2011.
• Official Website of Walmart. http://www.walmart.com/. Online retrieved on March 25, 2012.
• www.wallmartstores.com. Retrieved on March 25, 2012.