April 25, 2013
Marketing Plan Phase I
The marketing plan is a comprehensive blueprint, design, or proposal, which outlines an organization marketing efforts. Most organizations use marketing plans for the purpose of increasing profit, revenue, and shareholders’ wealth (Kerin, Hartley, & Rudelius, 2011). The task of Charlie Team consists of completing the marketing planning phase one. Charlie Team will use the outline of the marketing plan from the student website for assistance in accomplishing the following process of the marketing plan phase one.
Selecting an existing organization and discussing its overviews is the first step in phase one. The second step is giving a description of the new product or service. Step three is explaining the importance of marketing for organizational success. The fourth step analyzes the factors of strengths, weaknesses, opportunities, threats, and trends (SWOTT) of the new product or service. Step five is the marketing research approach for developing the marketing strategy and tactics of the new product or service (Perreault, Cannon, & McCarty, 2011). Organizational Overview
Team Charlie chose the Walmart organization for completing this assignment. Walmart is one of the best known organizations in the world that have successful marketing plans and strategies. Sam Walton is the founder of Walmart and opened the first store in Rogers, Arkansas, 50 years ago in 1962 (Walmart, 2012). Currently Walmart operates in more than 10,000 retail stores under 69 diverse banners in 27 different geographic locations across the world. They service customers and members in excess of 200 million times per week with sales of approximately $444 billion continually for the fiscal year 2012 (Walmart, 2012).
Sam Walton’s visionary leadership and focus point centered on helping customers and communities by saving money and living better. His personal goals for Walmart consist of creating great value and great customer service. He believed that leadership through service would support the success of his business. Because of his belief in leadership and service, he used this for creating the principle foundation of Walmart. According to Sam Walton, the principle of Walmart is true leadership depends on willing service (Walmart, 2012). Walmart basic values and philosophy include Sam Walton’s personal goals and the organization principle that established the mission statement: Save money. Live better (Walmart, 2012).
The product mix that Walmart host contains a large variety single products and many product lines. For example, their product mix include books, electronics, movies, music, furniture, jewelry, toys, grocery, health care products, pharmaceutical products, and many more (Walmart, 2012). Walmart’s product mix meets and satisfies just about any household needs and wants.
Walmart also provides a number of different services within their retail stores. Some of these services include photo lab service, pharmacy, automobile service, financial service, vision center service, and wireless services. A different Walmart may provide a different service depending on geographic location, population size, consumer needs, and wants (Walmart, 2012). Because of Sam Walton’s belief in creating great value and customer service, the Team wants Walmart consideration for the marketing plans of incorporating a new Express Shopping Service. * New Service Description
* Imagine developing a convenient, quick, and fast way of shopping, when customers are on the go and timing is an essential element. Adding an Express Shopping Service to the Walmart shopping experience will support the mission statement of saving money and living better in a timely manner. Giving the Walmart customer the advantage of buying on the fly will satisfy the demanding wants and needs of expedient shopping. * The Problem