Marketing concept of the founder of walmart compared to the current marketing philosophy.
2 SWOT analysis,profile and possible approaches Walmart would use in dealing with competition.
3 Core competencies of Walmart.
I.T. applications within Walmart corporation.
Walmarts reputation to customer service and the impact of customer service performance on future growth.
4 Walmarts reputation to employee relations and the impact of employee relations on future growth.
5 Developement of logistics management within Walamrt to international trends.
6 Walmarts performance in the fields of enviromental protection and C.S.R.as the largest retailer in the world.
Marketing concept of the founder of Wal-Mart compared to the current marketing philosophy.
Sam Walton the founder of Wal-Mart marketing concept at the beginning of Wal-Mart was fairly simple. He believed in word of mouth marketing and that his quality products and low prices Would speak for themselves. To date the marketing concept is still the same but with a modern twist. The use of modern advertisement such as t.v., internet and phones has helped Wal-Mart To expand in an overcrowded and difficult market place but the founding concept is pretty much alive and relied upon, word of mouth marketing.
Wal-Mart is the biggest corporation in the United States and in the world in terms of revenues and number of employees.
It keeps growing at a rapid pace, showing no sign of letting up. In the first decide of the twenty-first century it appears as if no other company has a chance of catching up to it.
What is the secret of Wal-Mart’s success? Its philosophy, first set its motion by its founder, Sam Walton, is to offer the lowest prices to its customer, thereby undercutting all of its competitors.
Wal-Mart’s basic approach is to minimize margins and maximize returns (i.e., it emphasizes the speed with which goods more through the store over the profit it makes per unit).
Wal-Mart manages to keep its prices low by keeping its own costs down. This is achieved by abstemious management practice (limiting lavish spending by managers) and by keeping down the wages of its workforce (called “associates” by the company).1
SWOT analysis, profile and possible approaches Wal-Mart would use in dealing with competition.
Low cost products.
Large number of suppliers.
Negative public perception.
Slow reaction to market demand and customers’ needs.
Local food suppliers.
Zoning and restrictions.
Wal-Mart’s profile is split in to three tiers, sectors or segments. •
They all aim to bring quality products at low prices to help grow and expand Wal-Mart’s profile. Each tier in Wal-Mart’s profile can sell the same or separate products depending on demand Which has helped Wal-Mart’s profile to grow in over 27 countries with 10,000 plus stores?
Wal-Mart uses a shock and awe tactic when dealing with competition. While competitors are keeping their prices on products the same or if not highering them Wal-Mart continue to open new stores, drop prices and have special offers across a wide range of their products even if this means a loss on some products their overall sales would increase.
Core competencies of Wal-Mart.
Wal-Mart competencies consist of 3 factors.
Employees are hard working and believe in the same goals as Wal-Mart have towards customers by supplying fast, friendly and competitive services for customers across there chain of stores.
They make sure to supply lower costs on consumer products and use low cost but efficient operations/procedures to ensure that customers receive lower costs and higher savings.
They use an integrated I.T.system to communicate with suppliers to make sure...
References: 1 http://strategy-marketing.blogspot.ie/2012/04/wal-mart-secret-of-success.html
Please join StudyMode to read the full document