...Marketing Mix MKT/421 February 20, 2012 University of Phoenix Marketing Mix Marketing is important to any organization small or large. It gives the organization the chance of promoting new products and services, and brings in more customers. “Marketing is the performance of activities that seek to accomplish an organizations objective by anticipating customer or client needs and directing a flow of need-satisfying goods and services from product to customer or clients” (Perreault, Cannon, & McCarthy, 2011, p.6). The purpose of the paper is to select an organization and describe the elements of the four P’s of the marketing mix. The paper will describe how each of the four elements of the marketing mix impacting the organization’s development in marketing strategy and tactics. The paper, based on the marketing mix will describe the implementation of each element. The History of Walmart and the four P’s of the marketing mix In 1962, San Walton became the founder of Walmart, and opened the company’s first discount store in Rogers, Arkansan. In 1968, the first full-time pilot was hired; who provided help to Sam was well as the opening of the first stores in Sikeston, Montana, and Claremore, Oklahoma. The first company officially incorporated Walmart stores Inc. on October 31, 1969 (Walmart Timeline, n.d). Walmart serves customers and members more than 200 million times per week at more than 10,020 retail units under 60 different banners in 28 countries. With fiscal...
Words: 1368 - Pages: 6
...Walmart and Integrated Marketing Theresa Perrey MKT498/Integrated Marketing Strategies June 10, 2013 Heather Teague Integrated Marketing Integrated marketing in its most basic terms means to combine all forms of communication and messaging with regards to a product or service. Now this may seem simple but it can be very complex and requires a great deal of effort and time, however the pay off can be great. By creating an integrated marketing plan a company has the opportunity to build competitive advantage, increase sales and profits, while reducing time and stress, and saving money (Burgess, M. 2013). The purpose of integrated marketing is to wrap the messaging about a product or service around target audience and help them move through the range of stages within the buying process. When a company forms an integrated marketing plan it will concurrently combine the product image, develop a dialogue and nurture the relationship with the target audience (Burgess, M. 2013). The value found with integrated marketing is that it can assist companies with increasing its profits through enhanced effectiveness. Simply stated, a combined message has more impact than a disorganized heap of messages. In a flooded market, a constant, combined and clear message will have a better chance of driving through the 'noise' of countless commercial messages which barrage consumers on an everyday basis. Integrated marketing will connect brand messaging together that will give the target...
Words: 752 - Pages: 4
...The Marketing Activities of Walmart Shelly Green BUS 235: Introduction to Marketing Sandra Piccillo March 31, 2014 Walmart is one of the fastest growing retail stores around and I will be giving some viewpoint on how they became so successful. There are many factors we will be looking at throughout this paper including the competition involved with running a business such as this and how they stay ahead. There are some marketing techniques that Walmart uses to ensure they continue to grow so we will look at those as well. When Sam Walton opened his first Walmart in March of 1918 according to (Schololasticus, 2011). He wanted a company that would make money and cater to the needs of consumers according to (Walmart.HelpMe.com, 2014). Sam Walton had a big dream to expand his operations and that is just what happened. They are now one of the biggest discount retailers across the globe according to (Walmart.HelpMe.com, 2014). There are 36 departments inside some of these departments include clothing, household, health and beauty, lawn and garden, jewelry, shoes and pharmacy according to (Walmart.HelpMe.com, 2014). Their marketing strategy has not failed yet. The one that they use is of great assistance to them. Walmart’s marketing strategy is to lower prices for a large variety of consumer goods according to (Kerin, Hartley, Berkowitz, & Rudelius, 2011). This strategy helps them deliver product to consumers at rock bottom prices. Walmart uses new technology such as radio...
Words: 668 - Pages: 3
...Defining Marketing Paper Marketing is very essential for a company to succeed; this is how people learn about a product or service. When thinking of marketing the best way to define it is to think of it as a bridge that stretches from the producer to the consumer. Throughout this paper the author will define marketing from two different sources, explain the importance of marketing in organizational success, based on these definitions, and provide at least three examples from the business world to support her explanation. Marketing Definitions Marketing is the management process through which goods and services move from one concept to the consumer (Business Dictionary.com, 2012). As a practice it consists of four different elements, such as the 4P’s. The first P is identification, selection, and development of a product. Secondly is the determination of the price. The third P is the selection of a distribution channel to reach the customers place. Last is development and implementation of a promotional strategy (Business Dictionary.com, 2012). According to the American Marketing Association (2011), “Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required...
Words: 853 - Pages: 4
...Environmental Factors Paper Liya Li MKT/421 Mark Vitale Walmart is a company that continues to remain at the top of the global business list with superstores across Latin America, Asia and North America. During the past decade the company has made its mark by expanding its concept of the supermarket across the globe. While its domestic market does well, globally Walmart has been a success. Considering external factors is a priority for companies entering the global market. There are many environmental challenges from a current domestic market including differences in technology, economy, competitive atmosphere and social/cultural standards. In countries where the idea of supermarkets must be introduced rather than enhanced Walmart had its job cut out entering foreign markets. Extensive market research, service development and channels of distribution were key factors in creating an effective marketing strategy. With a global marketing budget of $2.4 million the company works with different agencies in developing nations such as India, China and Mexico where it sees opportunities in big economic challenges. (Hall 2010) The advantage of entering into developing countries is to recruit local communities and make every day necessities more affordable to the general public. Socially many countries lack the concept of supermarkets and in place rely on smaller convenience...
Words: 710 - Pages: 3
...Below is a free essay on "Whistleblowing" from Anti Essays, your source for free research papers, essays, and term paper examples. Whistleblowing is a highly controversial and widely discussed topic in today’s society due to many high profile cases including the circumstances surrounding the Space Shuttle Challenger explosion and what was documented in the movie The Insider about the tobacco industry. Ethically, the decision for someone to whistleblow is a tremendous one. The person needs to weigh many factors and take many things into consideration before making that step. This paper will use the movie The Insider, Ethical Theory and Business and material collected from the internet to (1) discuss definitions and conditions of whistleblowing; what motivates whistleblowers; ethical and other considerations including risks and typical results of whistleblowing cases. Definitions and conditions of whistleblowing “A whistleblower is an individual that believes that his or her organization is engaged in or willingly permits unethical, unlawful or otherwise reprehensible activities. Whistleblowers bring attention to the objectionable activity and attempt to effect change. Whistleblowers generally report these actions internally and may ultimately resort to reporting these activities to external authorities or interested parties.” (http:cosign.scu. edu505set01003WhistleblowerProfile.htm) In the essay “Whistleblowing and Professional Responsibility” published in Ethical Theory and...
Words: 633 - Pages: 3
...Internal and External Factor Paper MGT 230 September 21, 2015 Jack Geer Internal and External Factor Paper The four functions of managements is planning, organizing, leading, and controlling one’s organization. These functions should be used by managers to be more efficient in “achieving goals with minimal waste of resources.” (Management, Pg. 15) All four functions of management are key elements to be effective as a manager. Planning is described by “specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.” (Management, Pg. 15) A manager should have a plan before implicating any decision making. When a manager makes a plan, they can re-evaluate the plan and make any adjustments to the plan where they seem fit. Planning helps deliver strategic value within an organization or business. Organizing is described as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.” (Management, Pg. 15) After a manager has implicated a plan, they would then want to organize the plan by delegating authority, assigning work and providing direction to the employees. Controlling is described by “monitoring performance and implementing necessary changes.” (Management, Pg. 15) After a goal has been completed, the manager may monitor the performance by employee that may include, but not limited to, monetary goals, reducing customer complaints...
Words: 1109 - Pages: 5
...E-Business Paper Julie Prater ACC/340 March 07, 2016 Joyce Williams E-Business Paper Electronic business (e-business) allows businesses to use the Internet to buy and sell merchandise, provide services, and process payments. The ability to shop online offers numerous advantages, limitations, and risks for the average consumer. Traditional brick and mortar establishments have found tremendous growth and sales potential following today’s technological advances. Walmart is an example of a retail chain that has found success and growth potential offering online shopping and services to its consumer. E-Business and Walmart Sam Walton built today’s largest retail chain on one simple strategy: “provide the lowest prices, anytime, anywhere (Walmart, Inc., 2016). Walmart’s first store opened in Rogers, Arkansas in 1962 as a small five and dime retail shop. Walmart became a publicly traded company by the early 1970’s and officially was listed on the New York Stock Exchange. Entering the 1980’s, Walmart’s sales topped $1 billion and computerized point-of-sale systems were installed in stores enabling fast and accurate checkout experiences for its customers (Walmart, Inc., 2016). Walmart launched the largest private satellite communication system in the United States, connecting the company's operations through voice, data and video communication (Walmart, Inc., 2016). In the early 1990’s Walmart entered the...
Words: 1073 - Pages: 5
...Walmart vs. World Wide Web Abstract The internet offers a wide range of possibilities for businesses. Walmart, Inc. is using them to their advantage using Walmart.com. They offer the same exceptional customer service while offering everyday low prices in a convenient online format. The increase in use of the internet will be cause the sleeping “Big Giants” such as Walmart to step up their marketing techniques. Smaller companies will have access to the new wave of technology offered by the internet increasing their ability to compete in the global market. The internet offers unparalleled technology that can connect businesses on a global scale and increase the potential of all players in Business. . Walmart is a billion dollar a year American general merchandise store. It was founded in Bentonville Arkansas in1962 by Sam Walton. By 1988 Walmart had become the most profitable retailer in the United States. (Hayes 1990). This business was chosen due to its large impact on the United States’ economy. According to Fortune Walmart remained the world’s number one publicly traded company for the top Fortune 500 list released March 2014(Fortune 2014). Walmart serves more than one million customers in twenty six countries in a week. Walmart began utilizing the internet to its maximum potential in January 2000. It offers online purchasing of inventory of a million plus items under the entity Walmart.com. Customers can browse inventory of not only their local Walmart store...
Words: 1739 - Pages: 7
...Title of Paper Your Name Course/Number Date Instructor Name (Doctoral students must include the following on the title page instead: title, author’s name, and institution name) Team paper Wal-Mart has established itself as the leading retail conglomerate worldwide. With the inception of the first store on July 2, 1962, Sam Walton’s vision of a one stop retail experience endures as a perennial success few companies may experience nationally or internationally. Their elaborate detailed systems coupled with knowledge of supply and demand set the benchmark for many companies to emulate. The research will address pricing, production, global competition as well as their ability to maximize profits. Wal-Mart’s continual promotion and marketing techniques to the public announce their sustainability and the leader in low price competition. In any locations the price difference is not that significant in comparison to other outlets; however, Wal-Mart’s ability to decrease prices with many popular household goods sets them apart. They have incorporated aspects of the distribution process, thus eliminating outside entities and lowering costs. Other capacities include delivery systems, global supply chain practices, and the ability to supply and amass substantial goods and services. When we evaluate suppliers, we are looking for industry expertise and insight, along with the capability to deliver to a company of our size. This means we seek suppliers...
Words: 1216 - Pages: 5
...Sustainability in Marketing Decision Making Introduction Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler & Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus creating profits in a socially responible way. Mention triple bottom line While traditional marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Kotler & Armstrong 2012, p. 5) This essay has been prepared to identify and understand the role of sustainabilty in marketing decision making and its impacts affecting current and future business operations. 1.1. Research Methods Data was collected based on qualitative research. Books, internet and online journals were used to identify different roles of sustainability in marketing. Sustainibilty of marketing by itself is a vast area for study, hence this paper will only focus and critically analysis some of the key aspects of s.m. The topics explored in this research are I. Role of sustainability in marketing II. 1. Sustainable Marketing practices adressing the triple bottom line. Sustainable marketing concept is quite...
Words: 1405 - Pages: 6
...Brief Overview of Business Intelligence and How Walmart Uses It Walmart is the biggest retailer in the world and handles more than one million customer transactions every hour and generates more than 2.5 petabytes of data storage (Venkatraman & Brooks, 2012). To put this into perspective, this data is equivalent to 167 times the number of books in America’s Library of Congress (Venkatraman & Brooks, 2012). So how can Wal-Mart use this massive amount of data and what useful information can this data provide? This paper will provide a brief overview of the importance of Business Intelligence (BI) and how the largest retailer in world, Walmart, is using it. BI platforms help management to truly understand its customer base and deliver individualized products and services (Brannon, 2010). When BI tools and analytics are used effectively, managers and decision makers can yield an all-encompassing view of the company, its position in the market, and its potential and perspectives (Albescu, and Pugna 2014). BI is best explained as a systematic process not found in a magazine, online or in a knowledge database. An organization that doesn’t have a viable BI capacity is making decisions without key information in this competitive market (Thomas, 2001). Walmart has more customer connections than any retailer in the world, from online activity to in-store purchases, and even social mentions (300,000 social mentions per week) (SAS Institute Inc.). Due to the abundance...
Words: 867 - Pages: 4
...Walmart and the Mexican Bribery Scandal On April 22, 2012, the New York Times reported a scandal of bribery in Walmart’s Mexican subsidiary (Markowitz, 2012). Walmart’s actions created issues of legality and ethics. First, in 1977, Congress passed the Foreign Corrupt Practices Act that makes foreign bribery illegal (“Walmart’s Bribery”, 2013). Second, expanding into Mexico caused an ethical dilemma for Walmart as Mexican business practices regularly include bribery (Markowitz, 2012). After discussing Walmart’s bribery actions, Utilitarian practices, and the outcome, this paper will analyze the opposing Deontological model and propose a personal opinion of the proper business ethic for this situation. Walmart’s Actions In 2012, the New York Times revealed three details in the investigation of the Walmart bribery case. First, officials at Walmart de Mexico made cash payments of 24 million dollars to officials to alter city zoning to expedite building permits. Second, going back to 2005, Walmart learned of the bribery accusations and sent an investigator who reported that laws were being broken. Third, despite investigator recommendations to probe further, Walmart’s CEO stated the investigations were too aggressive and transferred the investigation back to Walmart’s general counsel in Mexico who authorized the bribes (Gusin, 2012). The Utilitarian Model of Business Ethics, Bribes, and Walmart The Utilitarian model states that decisions are based on outcomes that are...
Words: 900 - Pages: 4
...Map the Supply Chain Paper-Walmart Cathi Stark MKT/421 June 23, 2014 Jeannette Singh Map the Supply Chain Paper-Walmart The supply chain is an important part of business. Supply chain management (SCM) is controlling of the movement of goods. It includes the flow and storage of raw supplies, work-in-process inventory, and finished commodities from beginning to point of utilization. The Supply chain management is network of facilities and distribution options that goes into improving your company. Making a product or service and delivering to customers by finding raw components. Today, SCM systems focus on extending beyond an organization's four walls to influence: Suppliers, Suppliers, Customers' customer. This paper will discuss each connection in the supply chain and the reason and significance of each in Walmart’s industry. There are five main components of supply chain management. They are plan, source, make, deliver, and return. Every company needs a strategy [plan] on how to manage the resources in order to achieve their customers demand for their products and services. The supply chain management is developing a set of metric to monitor the supply chain so that it can deliver high qualities and values to customers. Next is the source; to create their products, companies need to be very careful when choosing suppliers to deliver their goods and services needed. The managers need to develop a set pricing and delivery system in the supply chain. They can also put...
Words: 836 - Pages: 4
...Organizational Structure of Walmart Doshiemae Johnson MGT/230 Patricia Ford February 1, 2016 Introduction Walmart’s humble beginnings started in Rogers, Arkansas in 1962 by Sam Walton. Today, Walmart has evolved into a multibillion dollar company earning 486 billion dollars (Wikipedia.com (Entreprenuer, 2016) (Entreprenuer, 2016), 2015). Walmart is currently located in over fifteen countries and have over eleven thousand six hundred twenty stores (wikepedia.com). Their slogan is “Save Money, Live Better.” Walmart’s success could not have happened without strategic planning of the company’s business processes. These factors decide which organizational structure would be appropriate for the company to use. This paper will discuss the organizational structure of Walmart and their corporate processes that include marketing, human resources, products, and geographical locations. Organizational Structure Walmart’s organizational structure is divisional. Under this type of structure, each division has its own executive, which is the vice president. The vice president is responsible for their own budgets, advertising, and hiring (Bateman, 2011). Each division is given enough resources and autonomy to function alone. Unlike other organizational structures such as functional where divisions are departmentalized based on common job functions and matrix where both employees and managers from different company departments work together to achieve goals and solve problems (Bateman...
Words: 1157 - Pages: 5
