Marketing Mix of Walton Group of Bangladesh

Topics: Economic growth, Economics terminology, Economics Pages: 6 (1713 words) Published: May 29, 2013
Marketing mix of Walton Group of Bangladesh
Executive Summary:
This report was commissioned to analyze and evaluate performance and future prospects of Walton in a growing domestic electronic market.The research reveals that in a continuously growing market, Walton has become a reliable name for customers. Countrywide network, inclination towards quality and dedicated team of employees are the main causes of its success. Though it had started business with home appliances, yet it has always been committed to satisfying customer demand by introducing new products. Recent production and selling of motorcycle and air-conditioner testifies that position of Walton. Walton has a goal to double overall market share in the next 5 years. It has successfully positioned itself as a customer friendly and eco-friendly company. Its after sales service has contributed tremendously in building this image in customers’ minds. Since its target market is middle-income people, the price of their products is comparatively lower than those of competitors’. This strategy helps the company greatly in a price sensitive consumers market. In recent years Walton has increased promotional activities through organizing various national sports events. Further investigations have revealed that to achieve the role of market leader, it will face challenge from foreign brands. Moreover, rapidly growing demand from customers for electronic products may put pressure on Walton. It has adopted market penetration, product development and market development strategy for future growth. The report has found the prospects of Walton promising in its current position. Favorable government policy will help it expand domestic and international markets in the future. 1. Introduction

1.1.Origin of Report:
This report was assigned by Professor Syed Munir Khasru, the BusinessCommunication instructor of BBA 19 th
batch, Institute of Business Administration,University of Dhaka. 1.2.Objectives:
 Learning a didactic approach to Business Communication.
 Incorporating theoretical education with practical experience.  Gaining knowledge about the current market trend of the country.  Getting acquainted with different policies, rules and regulations of the government on the products concerned. 1.3.Methodology:

The methodologies used in the research process for this report, were: Data Collection:
Primary data is the information that we collect first-hand and secondary data is theinformation collected by others and used by us. For data collection, we used threeapproaches: a. First, we conducted some field research. We went to some Walton retail outletsand asked the customers about their valuable suggestion and opinions. b. We searched about Walton on the Internet and found some important informationregarding their company background, product lines and promotional programs. c. We went to Walton head office and collected the annual reports for WaltonBangladesh for the year 2010. Surveys:

For surveys, we made a questionnaire for the buyers. The questionnaire for the buyersincluded questions about their economic background, their preferences and their buying budget and frequency.To circulate the questionnaires, we followed two approaches: a. We handed the questionnaires personally to people. We went to the retailoutlets and gave the questionnaire to the people there and collected their answers. Then we chose some random prospective buyers and handed themthe questionnaire prepared for them. The random sampling included peoplefrom our residential areas, our friends and the students from differentdepartments of University of Dhaka. b. For the prospective customers, we used an online survey. We circulated thequestionnaire in different Facebook groups and collected the answers. Record analysis:

After collecting the data, we recorded them. Then we analyzed them by doing thefollowing:a.We collected the survey answers and made charts and graphs using that data for supporting the...
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