Week 3 Individual Assignment

Topics: Wal-Mart, Target Corporation, Marketing Pages: 6 (1030 words) Published: May 11, 2015


Environmental Scanning of Wal-Mart and Target
Lizette Morales
MGT/498
March 30, 2016
Week 3

There are many successful corporations in the world because they are aware that change and trends can occur at anytime. It is essential for corporations to be susceptible to change as well as using tools to show the internal and external factors of their organization. Implementing measurement tools to will help determine the status of the organization. Research show, to identify the need for change as opportune is an environmental analysis based on internal and external factors, to see the influence that they show so that the organization could achieve those reactive changes, which consist of adapting to the environment, or contrary to promote proactive changes that make the organization to influence the environment and not vice versa (Nadina R. 2011). Wal-Mart and Target are two successful corporations, which compete against one another in providing quality products and services to people in their community. Wal-Mart and Target implement environmental scanning to help them rise above their competitors. Wal-Mart and Target identifies the need for change is the environmental scanning tool. Environmental scanning helps corporations determine the status of internal and external factors of the business. Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. (Wheelen & Hunger, 2010). Some internal factors of Wal-Mart and Target focus on tangible and intangible resources, such as financial resources, organizational resources, technology, management, marketing, manufacturing, and consumers. Some external factors of Wal-Mart and Target focus on the economy, socio-cultural, Global, politics, demographics, and unforeseen events. Wal-Mart competitive advantage consist of providing affordable prices, provide a variety of products, financial stability, has an advantage of selling their name brand products better than other successful name brand products. Wal-Mart prices are less than many of its competitors. Wal-Marts’ motto is “save money live better.” Wal-Mart lives up to their motto when they provide good quality products at a low price. Wal-Mart uses several strategies to improve sales and services for their business and consumers. Wal-Mart use differentiation strategy, the strategy is a Firm Infrastructure, which gathers information on products consumers purchase. The strategy is to provide Wal-Mart with statistical data showing what products consumers purchase. Another strategy Wal-Mart uses is staying current with Reputational Resources. According to Wal-Mart, 2008, “Wal-Mart’s reputation with customers is obviously good since it always maintain a “for -the-consumers" attitude. After establishing its’ own products, they seem to grow more popular among the masses.” Targets competitive advantage consists of selling exclusive products, selling products created by top designers, creativity, fast check out service, and environmentally friendly. Strategies Target implements to maintain a successful business consists of successful marketing strategies that consist of entertaining commercials, which include celebrities and trendy items that look appealing to many people. Targets “Expect more pay less” motto is a strategy Target uses to encourage consumers better quality products. Unfortunately, the “Expect more pay less” motto; is not as valuable as Wal-Marts “Save money Live better” motto. The discounter, known for stylish towels and jeans, has long sold groceries. But it is barely holding onto its customers while its chief rival, Wal-Mart, is rapidly picking up new shoppers as its powerful low-cost message resonates in the recession (Dinnocenzio, & Fredrix, 2009). Although Target does not focus much on providing products at a lower...

References: adina, R. (2011). Methods of identification of the need for organizational change as being opportune. Annals of the University Of Oradea, Economic Science Series, 20(2), 707-712.
Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.
Wal-Mart: An Analysis, 2008. Retrieved from
http://voices.yahoo.com/walmart-analysis-1743207.html?cat=3
Target, (2007). Overview. Retrieved from
http://sites.target.com/site/en/corporate/page.jsp?contentId=PRD03-004361
Dinnocenzio, A., & Fredrix, E. (2009, May 27). Target goes back to basics to woo walmart shoppers. Orlando Sentinel, pp. B.8. http://search.proquest.com/docview/284234698?accountid=35812
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