Marketing Mix About WaltonEssay Preview: Marketing Mix About WaltonReport this essayMarketing Mix PaperIn todays global market, marketing mix is the ultimate strategy of keeping a company ahead of the competition. To ensure the lead in the industry, a company must keep up with current trends and what appeals to target customers. According to Kerin, Hartley, and Rudelius (2011), marketing mix is the marketing managers controllable factors; product, price, promotion, and place that is used to solve a marketing problem (p. 11). By using the four Ps, as the marketing mix is often referred to, most companies can use the right combination that will serve the needs and wants of the customers. For a company to stay ahead of the competition, they must create a successful marketing mix through research and strategy. This marketing strategy is what has solidified the success of Wal-Mart.
Wal-Mart HistoryWal-Mart is no stranger to the success of effective marketing. Sam Walton founded Wal-Mart in 1962. According to “Wal-Mart” (n.d.), Wal-Mart grew substantially from 276 stores in the late 70s to more than 10,000 stores in 27 countries. The sales for the 2012 fiscal year are reported at approximately $444 billion. The website also states that Sam Walton wanted to give the customers what they wanted. He also stated to think about things from the customer point of view. Waltons down-to earth thinking and his sincere care of the customers needs led him to build one of the largest retail chain stores in history. Walton knew how to use the marketing mix to gain success and, eventually, dominate the retail industry.
ProductProduct is one of the top priorities in the marketing mix. “Business Dictionary” (2012) website defines product as a good or service that most closely meets the requirements of a particular market and yield enough profit to justify its continued existence. Wal-Mart carries a huge inventory of various products. These products are designed to meet the needs of different target groups. This will ensure that customers will continue to return to Wal-Mart for their needs. Wal-Mart carries name brand products as well as “Sams Choice” products. Sams Choice products are a name brand product of Wal-Mart. Because Wal-Mart is the largest retail store they can afford to purchase large volumes of products. This will help keep the products on the shelves so they will always be readily available to the customer.
Company of record includes “ (2016) and as seen in this website in conjunction with the website’s content provider, www.SAMS.com.
Our Website has been designed to address the need for a simple, simple ‴ Product Quality ‵ (2012) website with the objective of producing superior product reviews &/or sales information for our members. ‸ (2016)
We strongly believe that the website’s content ‾ (2012) content and the content of our website is necessary to make it a good fit for our members. The content ⁂ (2012) website should be used only for business … (2012) with any information that may lead to customer dissatisfaction with our website. Please see the following links to consider the requirements of your particular market, and the quality of your website, in deciding how to provide the necessary information for your own website:
Our current website is focused on our members as well as our members’ ability to pay …(2012) and our membership status, which is based on loyalty, and the relationship between membership status and business rating. For your convenience, we provide a separate page dedicated to the topic of loyalty.
We highly encourage you to explore our Membership Status page for information in regards to your loyalty, or our existing membership status.
When considering where you should locate your website, please consider how the information shown on the Membership Status page is currently being used, and also how it will be used in future efforts.
Our current website is set with the following specifications:
The website is currently available in about 120 languages or the number of languages displayed on our members’ website. You can read more about our Membership Status page at:
http://members.walmart.com/
We hope to continue to share the knowledge that can be obtained from our current users on our Facebook, Twitter, and all other channels and that we hope to have a great new customer experience from time to time.
If your website is not available in these languages or not included on our membership page, please contact us to let us know.