This project will analyze existing marketing strategies at Walmart local retail and make recommendations for improvement.
I will commence the project by describing the marketing tools and methods used by the target company to segment their products before analyzing the effectiveness of the marketing mix for the target company. This will be followed by an evaluation of how the company’s in-store and local marketing meet the needs of its customers. I will then identify the role social responsibility plays in the company’s marketing efforts. Eventually, I will propose specific improvements to the target company’s overall marketing efforts.
Every successful business requires effective marketing strategy. The strategy should reflect target markets, segments, and customers. The main objective of marketing strategy is “to identify specific customer needs, then design a marketing program that can satisfy those needs”. In order to accomplish this in an effective manner, a business needs to have sufficient knowledge about its existing and potential customers.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- DESCRIPTION
- The marketing tools and methods used by the target company to segment their products
- A priori method
- Post hoc segmentation method
- ANALYSIS
- Analyze the effectiveness of the marketing mix for the target company
- Product
- Price
- Promotion
- Place
- EVALUATION
- How in-store and local marketing of the target company meet the needs of its customers
- Assortment
- IDENTIFICATION
- The role social responsibility plays in the company's marketing efforts
- APPRAISAL
- The appropriateness of the target company's marketing as it relates to structure and strategy
- PROPOSAL
- Specific improvements to the target company's overall marketing efforts
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This project aims to analyze the existing marketing strategies at Walmart local retail and provide recommendations for improvement. The project will focus on describing the marketing tools and methods used to segment products, analyzing the effectiveness of the marketing mix, evaluating the company's in-store and local marketing in meeting customer needs, identifying the role of social responsibility in marketing efforts, and proposing specific improvements to the company's overall marketing efforts.
- Marketing tools and methods for product segmentation
- Effectiveness of the marketing mix
- Meeting customer needs through in-store and local marketing
- Social responsibility in marketing efforts
- Specific improvements to the company's overall marketing efforts
Zusammenfassung der Kapitel (Chapter Summaries)
The first chapter introduces the project's objective and provides an overview of the importance of marketing strategies in achieving business success. The second chapter describes the marketing tools and methods used by Walmart to segment their products, focusing on both a priori and post hoc segmentation methods. The third chapter analyzes the effectiveness of Walmart's marketing mix, examining the four key elements of product, price, promotion, and place.
The fourth chapter evaluates how Walmart's in-store and local marketing meets the needs of its customers, emphasizing the importance of assortment in addressing consumer preferences. The fifth chapter identifies the role that social responsibility plays in the company's marketing efforts.
Schlüsselwörter (Keywords)
Key terms and concepts discussed in this project include marketing strategies, product segmentation, a priori method, post hoc segmentation method, marketing mix, product, price, promotion, place, in-store marketing, local marketing, social responsibility, and customer needs. The project also explores the significance of effective marketing in achieving business success and the role of customer-centric strategies in achieving competitive advantage.
- Quote paper
- Muli Benjamin (Author), 2017, Marketing. Analysis of tools and methods, Munich, GRIN Verlag, https://www.grin.com/document/419483
