Drop and Shop Marketing Plan
To have a successful product or service there needs to be a solid marketing plan. To create a market plan one needs to understand what marketing is. “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (Perreault, Cannon, & McCarthy, 2009, p. 6). Team B has decided to create a marketing plan for a new service that will be put inside of Wal-Mart Supercenters. The service will be a childcare center called Drop and Shop. Parents can drop their children off in the center while they go do their shopping. While creating this marketing plan several areas need to be addressed. The team will work through the organizational overview, the description of new services, importance of marketing, SWOT analysis, the market research approach, market segmentation criteria, the target audience, buyers and consumers, factors that affect the strategy, competition, attributes, product life cycle, position and differentiation strategies, life cycle marketing, pricing strategy, the place and promotion strategy, initial sales promotion schedule, advertising plan, public relations opportunities, distribution channels, the budget, and the quantifiable elements. Gathering information for all of these sections will give team B a solid marketing plan. Organizational Overview
Sam Walton opened Walton’s 5 & 10 in March 1951. Sam Walton’s purchase was the building block or cornerstone for Wal-Mart Stores Inc. as it is known today. The first Wal-Mart opened in Rogers, Arkansas in 1962, founded by Sam Walton. On Halloween 1969, Wal-Mart was incorporated; in 1971Wal-Mart began trading on the New York Stock Exchange (Walmart, 2011). Sam Walton built his company on values and morals, which has helped the company to become one of the world’s most admired companies to date. Sam Walton believed he should help his customers save money so they could live better, therefore the mission statement of Wal-Mart became “Saving People Money So They Can Live Better” (Walmart, 2011, Para. 1). Wal-Mart’s product mix varies, depending on the type of Wal-Mart store one decides to shop. Wal-Mart discount stores carry products such as family apparel, lawn and garden, toys, automotive, and health and beauty products to name a few. The Neighborhood Market stores primarily carry grocery products with limited products from other product lines such as paper goods or household goods. Wal-Mart has four pilot stores in Arizona operating under the name Marketside, which sells fresh food, wine, and organic products. Walmart.com was established in 2000 and now offers more than one million products online (Walmart, 2011). The first Wal-Mart Supercenters were first established in 1988, now there are more than 2900 stores worldwide. The Supercenters offer all of the products and merchandise in the other Wal-Mart Stores. Supercenters not only offer Wal-Mart products but also often house many specialty shops and franchises such as banks, beauty salons, vision centers, portrait studios, and McDonald’s (Walmart, 2011). New Service Description
There comes a time when parents and guardians have a lot of shopping to complete but cannot because of a child. Children in stores can be an experience that can be stressful and can hinder the shopping process. This could be longer periods of shopping or forgetting what is needed on the list. Wal-Mart wants to change that experience for anyone who wants to take advantage of it with a new service. This service is Drop and Shop Daycare. Drop and Shop Daycare is a new in-facility childcare service for the parents and guardians that need to complete their shopping in a timely manner and without the hassle of chasing children around the store or dealing with the occasional temper tantrum....