BA280 – Market Segmentation
I wasn’t sure what company to use for my market segmentation analysis and then I thought about the different places that I shop and how often I go to those places. That’s when I saw an advertisement for Wal-Mart and I realized how busy that place is, no matter which location or what day of the week. This observation made me want to look into their advertising more and evaluate what exactly it is that keeps Wal-Mart business up, every minute of every day.
Wal-Mart has always been known for their “roll back” of prices and their “everyday low price” motto. Wal-Mart has always aimed at increasing its sales and business through its friendly prices. This image has stuck with the company and consumers for a
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Now that they have their “low price” motto out on the market, I think some type of marketing to change people’s perception of the quality of the products and people’s perception of the company overall, would help out their future marketing objectives. While this should be a future goal for their marketing, Wal-Mart needs to make sure that they still maintain their current consumers with their “low price guaranteed” motto and their easy accessibility and slowly transition and do a market analysis on what would be the most appropriate route for attracting the other consumers. Wal-Mart has gone through a lot to secure its position as a leader in the retail market to include offering low prices, offering great customer service and constant modernization. While their marketing strategies have gotten them towards the top of the retail store list, in order to maintain that position, they’re going to have to make some improvements to their marketing to change some consumers’ perception of the Wal-Mart products. In my opinion, if they work on promoting and advertising the quality of their product, it will stomp people’s misconception of the poor quality of products that are sold at Wal-Mart and get new customers into the store. Overall, I do believe that Wal-Mart has done a great job and been very successful in reaching their customer, mainly the lower to middle class families. Their stores are easily