Market Segmentation Of Walmart
Wal-Mart Stores, Inc. is an American multinational retail giant that was founded in 1962 by Samuel Walton. Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees.” Walmart is headquartered at Bentonville, Arkansas, USA and is the largest private employer and biggest grocery retailer in the USA. It does business in almost 11,530 locations all over the world dealing in various variety of products and services. Walmart operates internationally under 63 different names in 28 countries, including Walmex in Mexico, Asda in the UK, Seiyu in Japan, and Best Price in India. It also operates e-commerce websites in 11 countries.
Walmart is also the world’s largest company in terms of revenue, $482.1 billion in the fiscal 2016. If Walmart were …show more content…
The motto is to provide all the customers a seamless experience. Walmart Segmentation, Targeting and Positioning is the primary focus of Walmart 's success strategy.
Segmentation is mainly achieved by thorough research on identifying trends and preferences of certain groups of customers. This information is used to determine where to open retail outlets and what stocks to store. Walmart uses two types of market segmentations - Geographical and Demographical. Geographical segmentation involves grouping customers based on their location. Demographic variable refers to personal statistics such as income, gender, education, location (rural vs. urban), and family size.
The next step is to target either one of these segments by accessing the existing players services. Estimating how large the segment is, and exploring ways to serve the customers better drive the company to strategize and operate smartly. This involves analyzing characteristics like the company’s resources, market characteristics, objectives of the organization and product