Sunday, February 9, 2020

Marketing Plan for an International Company Assignment

Marketing Plan for an International Company - Assignment Example It is a yardstick to measure the effectiveness of the marketing conducted for a product in an organisation. In this report, we take the case of Walmart to illustrate a marketing plan. Wal-Mart Stores Inc. is a US multinational  giant. It owns department stores and warehouse stores and goes by the brand name ‘Walmart’. According to the  Fortune Global 500  list of 2013, it is the  worlds second largest public company. It employs over two million employees, more than any other private employer  in the world. Walmart, the world’s largest retailer is controlled by the  Walton family, who own a 48 percent share in it (Troy April 21, 2011). Started in 1962, it has around 8,500 stores spread out in 15 countries. Any aspect of management in general, and marketing in particular, would be vast and exhaustive. Hence, we restrict ourselves to four focus areas viz. current marketing techniques, brand reputation, global networking and future expansion opportunities. These four areas are explained briefly and followed by four marketing tools. The areas are then explained with reference to Walmart, using each of the marketing tools. A critical evaluation from the report writer’s perspective is given at every stage. To conclude, an assessment of areas other than those related to marketing is provided followed by a general marketing evaluation and the road ahead for Walmart. Walmart’s uniqueness stems from the fact that it is the retailer that offers products at discounted rates. The purpose was to sell products at low prices for higher volume at lower profit margin. Lower cost suppliers were the primary reason for passing the savings in the prices. Walmart employed various strategies for marketing itself. It took over existing companies within the US and abroad. Simultaneously, it opened several stores all over the US and the rest of the world to enhance its presence; and of late it has ventured into the premium retail segment to

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