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Summary Marketing Management (BUS 5112) Portfolio Activity Unit 1
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Marketing Management (BUS 5112) Portfolio Activity Unit 1
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lOMoARcPSD|5734770Marketing Management (BUS 5112) Portfolio Activity Unit 1
lOMoARcPSD|5734770
Place (Distribution). Walmart uses the intensive distribution strategy or intensive distribution channel design.
In this strategy, Walmart stores offer the same variety of goods, while the same employee roles and
responsibilities apply to each store. In addition, the company continues to open new stores to reach more
customers. Thus, theplace/distribution element of Walmart’s marketing mix helps attract customers by
making shopping convenient in terms of location.Prices and Pricing Strategy. Walmart uses anEveryday Low
Price (EDLP)pricing strategy. In fact “Everyday Low Price” advertisements are frequently seen in Walmart
stores. The objective of this pricing strategy is to attract large populations of customers. This strategy
supports Walmart’s generic business strategy, which is cost leadership. The company has low costs and low
prices. However, the large sales volume enables Walmart to generate profits. Thus, in the marketing mix, the
pricing component is the main contributor to Walmart’s competitiveness.Promotion (Promotional Mix or
Marketing Communications Mix). Walmart’s promotional mix is composed of advertisements, sales
promotions, personal selling, and public relations. The company advertises on newspapers and websites.
Walmart uses sales promotions in theform of special deals and discounts. Personal selling happens at
Walmart stores, where salespersonnel persuade customers to try new products or package deals. In terms of
public relations, the company uses press releases to inform customers and investors about policies,programs
and strategies. The firm also occasionally sponsors charity programs. Thus, the promotion component in
Walmart’s marketing mix helps improve the company’s ability to attract customers to its stores and helps
build brand recall.
Market-oriented – Because they focus on the customer’s current and future needs and not the products
they sell.2. Walmart’s new mission statement reflects the ideals of the company’s founder, Sam
Walton.Strategic decisions in the business are a direct manifestation of this mission statement, which is
synonymous to the company’s slogan, “Save money. Live better.” Based on this statement, it is clear
that Walmart’s business strategies involve using price as a selling point to attract target consumers. The
significance of such a selling point is exhibited in many of the company’s strategies. For example,
Walmart Inc.’s marketing mix or 4P involves low prices as a strategy. Other areas of the company are
determined by the need to minimize selling prices as a way to achieve competitiveness. Walmart fulfills
the “save people money” component of the mission statement through its low selling prices. For
example, consumers save money by spending less in buying goods from the company’s stores,
compared to buying the same or similar goods from midscale and high-end stores. Elements of
Walmart’s Marketing MixProduct. Walmart’s product is its retail service. In general, retail firms are
service businesses. The company attracts customers by providing convenient and effective service. For
example, Walmart’s sales personnel are trained to effectively assist shoppers in finding the goods
theyneed. Convenience is achieved because the firm offers a wide array of goods in its stores. Most
shoppers expect easy one-stop shopping at Walmart stores. The product component of the
marketingmix affects Walmart by defining customer experience. The company’s sales personnel directly
influence how customers feel when they enter the stores.
Prices and Pricing Strategy. Walmart uses an Everyday Low Price (EDLP) pricing strategy. In fact “Everyday
Low Price” advertisements are frequently seen in Walmart stores. The objective of this pricing strategy is to
attract large populations of customers. This strategy supports Walmart’s generic business strategy, which is
cost leadership. The company has low costs and low prices. However, the large sales volume
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