Prof. David Kalicharan
January 30, 2012
“Wal-Mart Stores Inc, the world’s largest retailer, wants to be your local neighborhood store” (Kumar, 2011). Wal-Mart has launched “My Local Wal-Mart” pages on Facebook for more than three thousand five hundred of its stores. This is one of many current marketing strategies that Wal-Mart currently has in place. This strategy is both a generic and segmented marketing strategy. This strategy is generic by appealing to a mass-market and is segmented by appealing to the psychographic segmentation. By using the internet and social networking sites to connect with customers, they can keep customers informed on all events and specials currently being offered. This is an example of mass-market generic marketing strategy. This is also a segmented marketing strategy appealing to the psychographic segmentation of youth customers by utilizing social networking sites to lure customers. This is only one of many current marketing strategies that Wal-Mart is currently employing.
The three common targeting strategies are niche-market, mass-market, and growth-market strategies. The niche-market strategy involves serving one or more segments that consist of a sufficient number of customers seeking specialized benefits from goods or services. Mass-marketing involves two approaches. The first is to design a single product marketing program that will appeal to the largest number of consumers. The second approach is to design separate products and marketing programs for differing segments. Growth-market strategy targets a growing segment that may not currently be very large, but it has great potential to expand. One example of this is that each Wal-Mart store, as they appear the same, offer different products for different markets. Wal-Mart also offers a unique store called Neighborhood Market that offers grocery items and...