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, …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 …show more content…
The poor and middle class form a large part of the American population, this enabled Walmart to prosper in all regions where its competitors have found it difficult to enter. Walmart uses mono-segment type of positioning and accordingly, Walmart marketing management appeals to single customer segment who place greater value on the price attribute of products compared to other attributes. This has helped Walmart to gain huge market share regions and sustain the business.
Walmart has several store brands for consumer purchase. Many products offered under Walmart brands are private label products, and can be found in almost every category at Walmart. There has been a consistent change in Walmart’s logo along with its business. The Walmart brand identity is so captivating to the brand compulsive shoppers and also to the price - value customers with “Save Money. Live better.” tagline. Many shoppers in America rank Wal-Mart as the retail outlet with the lowest prices on any item. This has helped it win the confidence and loyalty of many customers