Analyze Wal-Mart’s marketing strategy in bringing Santa to their store during th

Question

Analyze Wal-Mart’s marketing strategy in bringing Santa to their store during the Christmas season. To effectively analyze their strategy, address the following: • What is Wal-Mart’s product strategy (make sure to consider each of the three levels of a product)? Is their product strategy consistent with their new marketing plan? • What is their pricing strategy? Is their pricing strategy consistent with their new marketing plan? • What type of place strategy does Wal-Mart utilize? How does their Christmas marketing plan enhance or detract from this strategy? • What type of promotional strategy does Wal-Mart use? Is their Christmas marketing plan consistent with their overall promotional strategy? Why or why not? • Is this an effective strategy for Wal-Mart? Why or why not? • What recommendations would you make to Wal-Mart to ensure their future success? Make sure to provide support for your recommendations.

Explanation / Answer

Answer:

Wal-Mart Organization: Wal-Mart Inc. is an American multinational retail organization that operates a chain of hypermarket stores, discount department stores and grocery stores.

Analysis of Wal-Mart’s marketing strategy in bringing Santa to their store during the Christmas season. This strategy will help the Wal-Mart business as below

·       It will influence the consumers with Christmas emotions.

·       People will get a better positive feeling for Wal-Mart, as Santa is their religious representation and will have religious and emotional influences on consumers.

·       It will support the Christmas purchase environment and consumers will be attracted due to presence of Santa.

·       Santa’s habit of toffee or gift to children will be an additional advantage for parents and consumers.   

Wal-Mart’s product strategy will be such that it will support the Christmas purchase requirements. The products structure will be such that they will explore the large sale at Christmas with all the three levels of products as core products, actual products and augmented products. The core products will be available along with they will try to keep actual products required by the consumers during the Christmas requirements. This will be further added with the augmented products so that the sale can be further increased.

Yes, this product strategy will be consistent with their new marketing plan for the period of Christmas sale and purchase only. After the Christmas time, the product strategy will be different and the marketing plan will be different due to shift in consumer needs/requirements.

Pricing strategy will be such that the price is competitive in the market and it will pull the customer at the Wal-Mart stores.

Yes, this pricing strategy will be consistent with their new marketing plan for the Christmas time period only, after that time period the pricing strategy will be different.

Place strategy Wal-Mart utilizes will be such that the place needs to be easy for the consumers and they did not face any issues in reaching the Wal-Mart locations. Thus they will try to provide as easy location to consumers as possible, probably in central location of the cities or town halls.

Christmas marketing plan can be enhance by having the central location for the consumers so that it will be comfortable for them to reach the store location. It will detract from this strategy if the location is outside of easy reach of consumers.

Promotional strategy Wal-Mart will use for their Christmas sale as hoardings in the city, digital marketing, social media marketing, road side displays, promoters in the market, promotional carry bags etc.

Yes, the Christmas marketing plan will be consistent with their overall promotional strategy for the Christmas time. Because it is essential to have the adequate promotional and marketing for consumer attraction and influences for exploring large sale at Wal-Mart stores.

Yes, this will be an effective strategy for Wal-Mart because the special marketing for the Christmas occasion will help in additional influences on the consumers and will be competitive marketing with other players in the market.

Recommendations I would like to make to Wal-Mart to ensure their future success as below

·       Improve service levels at the Wal-mart stores

·       Ensure high product quality at the Wal-mart stores.

·       Ensure adequate pricing for the products at the Wal-mart stores.

·       Ensure adequate marketing for the products and offers for Wal-mart stores.

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