MKT574 Marketing Social Mobile and Analytics

Company Description

Walmart Inc. is a retail corporation of the America and it operates the business from the United States in discount department stores, hypermarkets chain, and grocery stores. The company was established in the year 1962 by Sam Walton (Walmart, 2019).

Mission of the company is to help the people around the world by saving their money and improving their life styles by providing the services. And the vision of the company is to make every day easier for working people (Walmart, 2019).  

Walmart has 11,443 stores and clubs in 27 countries, those are operating under 56 different names. These branches operate the business in United States and Canada. In 2019, the company holds the 80 percent ownership of Advent International.

Environmental Analysis

Competitive Forces

Amazon, Alibaba, Kroger, The Home Depot, Walgreens, Target and many others are the main competitors of the company. The company main strategy to gain the competitive advantage is to lead in the price, invest in differentiate on access. The company leads in price strategy in order to earn the trust of its customers every day by providing them the quality merchandise and services at everyday.

Economic Forces

Political Forces

The company suffers with the challenges and criticism amidst region and nation due to operating the business at the global level. The company also face the challenge of political imbalance which has been disrupted the operations and sales for a short period of time.

Legal, Regulatory, and Ethical Issues

Walmart faced the legal pursuits from the very beginning as it was accused by a group of ex-employees as it does not have sitting arrangements as well as no granting leaves. The company has to pay the compensation.

Technological Forces

America is highly developed in terms of technology. Walmart also has many stores in which, the company has automated robots which recognize the ramps much faster.

Social Forces

The company has unique low price and also its selling strategy attracts the people or its customers to achieve the success in the business.

Current Target Markets

Demographic- There is no specific age as it provides the wide variety of services.

Geographic- It operates the business in different countries at the global level

Psychographic- The Company basically attract the professionals and also the families, and individual those are living far away from their houses.

Product usage of these targets- The company target the all age of people and it also provides the high quality of goods and services (Hitt, & Duane Ireland, 2017).

Review Current Marketing

 The customer of Walmart gets the information about the products from the websites, magazines, online application and the others. The company has high competition in the market as there are many competitors such as Alibaba, Walgreens, Target and the others. But Walmart provides the online services to consumers that will helps to attain the success (Deepak, & Jeyakumar, 2019).

SWOT Analysis

Strengths

• Global organizational size- The Company operates the business in 27 countries which states that it operates the business at the global level. Its main strength is that it operates business at the global level.
• Global supply chain- The other strength of the company is that its trading transaction has been done at the global level.
• High efficiency of supply chain- The other strength of the business is that it operates the business effectively(Gürel, & Tat, 2017).

Weaknesses

• Thin profit margins-The weaknesses of Walmart is that it is not able to generate the high profit.
• Copied business model- The Company copied its competitors as it does not has its own business system.
• Competitors- high competition of the company is a biggest disadvantage for it as its competitors operates the business in similar industry with the similar goods and services.

Opportunities

• Extension in developing countries- the company can expand the business in developing countries as it has the good experience in operating the business at the global level.
• Human resource practices - the company has to improve its human resources practices to develop the competitiveness in the labor market.
• Online Business- The Company has the opportunity to grab the online market by providing the quality of goods and services and by improving its website services(Appel, Grewal, Hadi, & Stephen, 2020).

Threats

• Healthy lifestyle trend- Consumers demand is switching towards the healthy products and that can be a biggest threat for the company.
• Aggressive competition- The company has high threat of competition (Smithson, 2019).

Strengths to Opportunities and Converting Weaknesses and Threats

The company operates the business at the global level and with this strength, it can easily grabs the opportunity of expansion of business. The company convert its weaknesses and threats into strength such as it can lead the market with its different strategy to gain the competitive advantage.

Marketing Objectives

The company will expand the business in new country or in new market by putting its marketing efforts in the business by 6 months and that is September 2021. The company will develop the customized product or provide the organic product by September 2021that will address the specific psychographic and technological needs of this age group. This price leading or differentiation strategy will helps the company to achieve the success in the business which is expected to achieve the 20% growth in overall sales by December 2021. The loyalty of customer (willingness to recommend the product) will increase by 30%.

Marketing Data Analysis

Internal Data

Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.

References

Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.

Appel, G., Grewal, L., Hadi, R., & Stephen, A. T. (2020). The future of social media in marketing. Journal of the Academy of Marketing Science, 48(1), 79-95.

Hitt, M., & Duane Ireland, R. (2017). The intersection of entrepreneurship and strategic management research. The Blackwell handbook of entrepreneurship, 45-63.

Trigeorgis, L., & Reuer, J. J. (2017). Real options theory in strategic management. Strategic management journal, 38(1), 42-63.

Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).

Smithson, N. (2019). Walmart SWOT Analysis & Recommendations. Retrieved from: http://panmore.com/walmart-swot-analysis-recommendations-case-study

Four Week. (2019).Walmart Mission Statement and Vision Statement In A Nutshell. Retrieved from: https://fourweekmba.com/walmart-vision-statement-mission-statement/

Walmart. (2019). About Us. Retrieved from: https://corporate.walmart.com/our-story