Five-Year Strategic Marketing Plan
A Marketing Plan Presented By:
Table of Contents
Strategic Focus and Plan
Marketing and Product Objectives
Points of Difference
Financial Data and Projections
Past Sales Revenues
Evaluation and Control
Appendix A: Wal-Mart Money Saving Coupons
Appendix B: Wal-Mart Customer Survey
1. Company Description
After graduating from the University of Missouri in 1944, Sam Walton began his career in retail with a chain of stores owned by the Butler Brothers. Just after three years, Walton increased the annual sales from $80,000 to $225,000. It was only a short time later he had to relocate due to the landlord not renewing the store lease. On May 9, 1950, Walton purchased a store in Bentonville, Arkansas, where he opened his first Walton’s 5 & 10. This would later become the headquarters for the largest corporation in the world. It wasn’t until the mid 1960s that Walton changed the name of his chain of stores to Wal-Mart. It was his assistant, Bob Bogle at the time, that had came up with the name.
Wal-Mart believes they are the number one provider of retail and food services in the United States, and expanding globally increases their chance of becoming the world’s leader as well. The company believes it can not only provide local retail and food to its customers, but also offer it to their consumers at the lowest price possible.
2. Strategic Focus and Plan
This section will briefly show an overview of aspects that affect the marketing plan positively: (1) the mission, (2) goals, and (3) core competence/sustainable competitive advantage of Wal-Mart Inc.
Since Wal-Mart does not formally have a mission statement, they usually use the “Save Money Live Better” as their customer luring slogan. Their gaining mission is to attract as many consumers as possible, leading them away from their competitors, by offering multiple selections of services at the lowest price possible. They feel they can relate to the ordinary citizen when it comes to saving money and living a better life.
For the upcoming two years, Wal-Mart plans to achieve the following goals: * Nonfinancial Goals
1. To keep its current position as the number one retail and food service company in the United States. 2. To work with suppliers who are committed in being socially and environmentally responsible. 3. To become more transparent within the supply chain.
4. To improve higher standards or product safety and quality. 5. To not only become more energy efficient in more of their local stores, but as well as their supplier’s factories and stores. * Financial Goals
1. To open more Wal-Mart MoneyCenters for customers who are inaccessible to local banking services. 2. To provide more customers with the Wal-Mart MoneyCard system, a reloadable Visa card, for customers who visit Wal-Mart each week for their services and are not able to receive services from banks. 3. To acquire further competitive retail stores globally to increase the chances of becoming the number one retail service internationally. 4. To increase their truck fleet with more energy efficient services that will save billions of dollars in spending.
Core Competency and Sustainable Competitive...
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