Essay Title: 

on marketing mangement

April 3, 2016 | Author: | Posted in marketing, mathematics and economics

MARKETING MANAGEMENT

2007

Marketing Management

Introduction

Marketing is often addressed as the key factor of corporate success and failure . This is acknowledged by most business entrepreneurs today Thus , most business entrepreneurs also realize the importance of having a great marketing plan

However , most of us are still overwhelmed by the number of factors involving the marketing realm and became confused , not knowing what to choose or what to perform . In this , we are studying the company Wal-Mart and how it developed its marketing strategy and maintained it in [banner_entry_middle]

such a way that it grows to be one of the greatest retailers in the world . In this we are describing theories of developing strategic marketing plan and we are comparing them to Wal-Mart ‘s marketing strategy . In short we are evaluating how Wal-Mart manages its strategic marketing affairs

Wal-Mart and Its Marketing Strategy

II .1 . Corporate Pro

The company ‘s official name is Wal-Mart Stores , Inc . It was discovered in 1962 , but officially incorporated on 1969 . The company is discovered by Sam Walton who run the company and brought it into the New York Stock Exchange in 1972 . It is recorded as the largest retailer in the world Further admirable facts are : the company is the largest employer in United States and Mexico the company is the largest grocery retailer in United States the company ‘s 2005 profit was recorded 11 .2 billion with 316 billion of sales . The company is well known equally for its contribution to the society and for some of its controversial managerial actions , especially relating to the issue of social impact of the stores II .2 . Creation Stages

The owner of the company , Sam Walton , instilled three basic cultures within the company he build . These cultures soon became the marketing trademarks that made Wal-Mart the largest retailer in the country and the world . The marketing trademarks of Wal-Mart are

Providing customers with low prices everyday and always

Having the most diverse portfolio of merchandises in its stock

Enhancing Customer Service

The first Wal-Mart stores described the first marketing principle stated above -low price-focus- ever . In 1962 , Walton opened the first store of Wal-Mart named the `Wal-Mart Discount City . The store was already focusing significantly on low-prices as it main attraction . The strategy worked like a charm as the company expanded into 24 stores in 5 years with sales achievement of 12 .6 million

After discussing the low-price strategy , we will take a look on Wal-Mart ‘s other core strategies . The next one that came into existence is Wal-Mart ‘s focus on gaining market share by enhancing customer service . In to facilitate this strategy , Wal-Mart treated their employees as `associates ‘ rather than corporate workers . Wal-Mart stores also have greeters , employees who welcome shoppers at the store entrance and played a role of loss prevention

The next step of developing its strategy , which constitutes the second point of the strategies mentioned above , is described by the design of Wal-Mart Stores . Walton seemed to enjoy the… [banner_entry_footer]

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