Market Segmentation Of Walmart
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…