Implementation, Strategic Controls and Contingency Plan
Introduction
Marketing segmentation is the plan that Wal-Mart needs to adopt and implement for the long-term growth of the company in the United States as well as internationally. Currently, sales and stock prices are dropping, an indicator that the company is not in good terms with its external business environment. Through target marketing strategy, the company will be able to focus on particular market segments through understanding customer needs and delivering products that meet the customers of those niches at reasonable prices (Wal-Mart Stores Inc., 2014). Wal-Mart’s strategy of market segmentation would also ensure that the company creates a positive image with the target market …show more content…
The first is that Wal-Mart aims to a wide range of products at reasonable prices. Through measures such as price leadership, the company aims to create a competitive differential advantage whereby prices are low, but the stores still ensure that the customer are given greater value for every product category. The target market strategy aims to ensure that customers in the segment market are convinced that low prices do not mean that Wal-Mart’s stores are too cheap (Chuck, 2011).
The second critical objective is improving on corporate social responsibility. The company’s sales decline is as a result of customers shifting to their competitors such as Target. Wal-Mart main objective in the target markets will be to plans to ensure that Wal-Mart consumers are satisfied and that the stores have positive returns to the company. Therefore, the strategy is aims at improving customer benefits through being active and vocal in the community, along with the provision of continual re-investment and participation in social activities and monetary contribution (Ferrell, 2014).
It would be easier for Wal-Mart to achieve the third objective that involves obtaining a healthy profit margin and a modest net …show more content…
Therefore, Wal-Mart will not seek commercial loans or their lines of credit (Luther, 2001). To reduce the long-term costs in technology, tests on same day delivery would first outsource for three months after which the company will implement seek its personnel if the action plan proves viable.
The marketing strategy would also include other costs such as research and development that includes personnel travelling expenses and internet provide expenses of $100 each. Insurance and medical cover would also increase by $100 while commercials, advertisements and promotion on TV and newspaper could cost $2000 (Luther, 2001).
Organizational change management strategies
Introduction
Marketing segmentation is the plan that Wal-Mart needs to adopt and implement for the long-term growth of the company in the United States as well as internationally. Currently, sales and stock prices are dropping, an indicator that the company is not in good terms with its external business environment. Through target marketing strategy, the company will be able to focus on particular market segments through understanding customer needs and delivering products that meet the customers of those niches at reasonable prices (Wal-Mart Stores Inc., 2014). Wal-Mart’s strategy of market segmentation would also ensure that the company creates a positive image with the target market …show more content…
The first is that Wal-Mart aims to a wide range of products at reasonable prices. Through measures such as price leadership, the company aims to create a competitive differential advantage whereby prices are low, but the stores still ensure that the customer are given greater value for every product category. The target market strategy aims to ensure that customers in the segment market are convinced that low prices do not mean that Wal-Mart’s stores are too cheap (Chuck, 2011).
The second critical objective is improving on corporate social responsibility. The company’s sales decline is as a result of customers shifting to their competitors such as Target. Wal-Mart main objective in the target markets will be to plans to ensure that Wal-Mart consumers are satisfied and that the stores have positive returns to the company. Therefore, the strategy is aims at improving customer benefits through being active and vocal in the community, along with the provision of continual re-investment and participation in social activities and monetary contribution (Ferrell, 2014).
It would be easier for Wal-Mart to achieve the third objective that involves obtaining a healthy profit margin and a modest net …show more content…
Therefore, Wal-Mart will not seek commercial loans or their lines of credit (Luther, 2001). To reduce the long-term costs in technology, tests on same day delivery would first outsource for three months after which the company will implement seek its personnel if the action plan proves viable.
The marketing strategy would also include other costs such as research and development that includes personnel travelling expenses and internet provide expenses of $100 each. Insurance and medical cover would also increase by $100 while commercials, advertisements and promotion on TV and newspaper could cost $2000 (Luther, 2001).
Organizational change management strategies