Marketing has been built around one concept but since technology has become so proficient, then it is safe to say that Marketing has also expanded with the times.
Marketing is managing profitable customer relationships. The twofold goal of marketing is to
attract new customers by promising superior value and to keep and grow current customers
by delivering satisfaction. (Armstrong & Kotler, 2007, Marketing: An Introduction)
Marketing has just begun to tap into the resources that are available to help assist companies to retain customers by providing that key ingredient, promising superiority. I can say that I am a pro Wal-Mart shopper. Every year I hear the same story in the paper. Keep your money in the community and shop locally. Every year, I do the same thing. I drive an hour away to another state, nonetheless, so that I can shop at Wal-Mart and save my pocketbook. Why do I spend all that time driving to another state so that I can make purchases for me and my family? Wal-Mart saves us money and the customer service is far superior to local stores. Don't get me wrong, I still make some purchases locally. I just make the majority of my shopping at a place that treats me good, and has a better selection of items to purchase. Not to get off track from marketing, I like to provide personal information as to why I came to a conclusion.
MARKETING: Definition: The systematic gathering, recording, analyzing, and use
of data relating to the transfer and sale of goods and services from producer to consumer.
(About Inc., The New York Times Company, 2007)
So this is what I obtained from the web resources and of course, it is similar to the other definition except for the fact that it is missing some crucial information about retaining customer loyalty. I think that I have definitely expounded on how importantly I place this categorization in my own personal commitment to being a Wal-Mart shopper. I can add that most of the employee's at the current Wal-Mart recognize my family and go out of their way to assist us in our shopping experience. No it is not that small, it is a Super Wal-Mart.
Originally a small town business, Wal-Mart has grown into a worldwide million dollar franchise. Founded in 1962 by Sam Walton, Wal-Mart has become Americas leading discount retail store. Wal-Mart has embodied the idea of a store that sells everything a person could ever need; selling everything from personal hygiene supplies to the newest technology. Even as a globally known franchise, Wal-Mart still has its pros and cons just like every other store.
A prior market firm used by Wal-mart (GSD&M) warned Wal-mart of the public image issues they were facing and had not addressed, even though they had been advised of them for over two years. GSD&M wrote in one review to the company that “sadly, after two years of empty rhetoric and ineffective publicity stunts, we now know that Wal-Mart has not only needlessly hurt its Associates and their families, but has pointlessly hurt the image and success that Sam Walton built.” (wakeupWalMart.com, 2007). Wal-mart has acted in a manner that blends with the theory of egoism. This theory “sets as its goal the benefit, pleasure, or greatest good of the oneself alone.” (wofford.edu, 1997). “Egoist use personal advantage…as the standard for measuring an action’s rightness.” (Shaw, 2008, p. 45). Clearly Wal-mart today is acting with interests geared toward their personal advantage and not considering the wreckage it is leaving all around them.
Wal-Mart has branded stores in all 50 states and in over 27 countries. Wal-Mart started with humble roots in 1962 by Sam Walton in the small town of Bentonville, Arkansas. Within thirty years, the small local discount retailer grew to one of the largest retail companies in the United States of America. Now it stands as the largest retailer in the world. As the largest retailer, Wal-Mart has gained many detractors. In "The Case for Wal-Mart," Karen De Coster and Brad Edmonds recognize how people “like to attack bigness” (632). Many believe Wal-Mart offers low wage jobs with few employee benefits, discriminates against women, and among many other issues, doesn’t give back to the community (631). In contrast to the constant barrage negative attacks, Wal-Mart proves beneficial to the community. Wal-Mart prides itself on being an equal opportunity employer to such a degree it has the most diverse group of employees anyone can imagine. Most Wal-Mart stores are the anchor that provides a steady stream of consumers to other much small businesses in the area. Beyond providing quality jobs for the people in and around the store, Wal-Mart brings convenience, lower prices, and help to those in need.
...ere Wal-Mart is accused of selling products at very low prices, which affects the other retailers in the market. Online marketing is also possible in this corporation and thus products are easily accessible to many customers.
Wal-Mart, the multi-billion dollar corporation and the second largest employer in the world, is the most controversial corporation in the world. Wal-Mart stands as a global powerhouse and affects countless individuals around the world. This company is constantly receiving criticism from unions, human rights groups, small towns and small businesses. There are accusations of Wal-Mart treating workers poorly and driving small businesses out of business. However these accusations are false and over exaggerated. Wal-Mart offers families and low income individuals quality products at affordable prices. Their workers are paid competitive wages and are treated with respect. Wal-Mart opens their stores in rural and under developed areas. Wal-Mart improves the lives of the folks who live rural area and improves their lifestyles.
When Wal-mart first entered the supermarket industry back in 1962, they were already off to a disadvantage as the industry during that time was already dominated by well-established and deeply experienced national chains such as Albertsons and Safeway. However, in a period of just ten years, Wal-mart had opened an average of seven supermarkets per month for 120 consecutive months, with a total of 888 supercenters. (Fisherman) By then, Wal-mart became the number one food retailer in the nation. What led Wal-mart from starting out as a rookie grocery market to becoming a dominating, world-wide supercenter? The answer is in their prices, which is generally 15 percent lower than their competitors’. (Fisherman) For this very reason, Wal-mart has changed the lives of many, including the spending habits of the shoppers and the working environments of the factory workers overseas who produces these low-priced products. Although Wal-mart’s slogan “Save money, live better” appeals to many of the customers, their actions are putting a burden on factory workers overseas as many are forced to work without the proper benefits and safety regulations.
Most Wal-Marts are considered supercenters because they are the leading company in terms of sales in today’s society. Barry Berman and Joel R. Evans define supercenters as, “a combination store blending an economy supermarket with a discounted department store” (123). Indeed, Wal-Mart offers a wide variety of merchandise, including a large selection of food product along with general merchandise for a low price displaying the qualities of a full-line discount store. Wal-Mart incorporates the retail strategy as a one-stop shop, so to speak. Customers appeal to this factor when deciding where to shop, and how to
Wal-Mart is currently eradicating some of its negative images by going green, keeping prices continuously low, contributing to disaster relief, community service and a health enticement for Americans to lose weight. Research shows that Wal-Mart believes that by making these changes now, it would help them come closer to the company’s main objectives of respecting the individual, servicing the customers with superior and excellent customer service. Wal-Mart also wants and has the expectations of its suppliers to adhere to these beliefs in their contracting, subcontracting, and other business relationships.
In general merchandise retailing, Wal-Mart’s primary competitors are Target and Kmart. Retail superstores such as Circuit City and Bed, Bath, and Beyond, also provide retail competition. A survey found that the majority of respondents favored Wal-Mart over stores like Target and Kmart. Respondents claimed Wal-Mart offered lower prices, better variety and selection, and good quality. The needs of consumers is an important economic feature in all competitive environments. What attributes (price, variety, quality, etc.) prompt buyers to choose one retailer over another is very important in the competitive landscape.
Wal-Mart is an American national wholesale business that runs chains of huge discount branch stores and warehouses. The business is the world's second largest company, according to the Fortune Global 500 list in 2013, the biggest private employer in the world with over two million employees, and is the largest retailer in the world. Wal-Mart is a family-owned company, and is controlled by the Walton family, who possess 50 percent of Wal-Mart. It’s also the largest grocery seller in the United States. In 2009, it generated 51 percent of its US$258 billion sales in the U.S. from grocery business. It also owns and operates the Sam's Club retail warehouses in North America. Wal-Mart helps people around the world save money in retail stores, online and through their mobile devices. More than 245 million customers and members visit their 11,000 stores each week under 69 banners in 27 countries and e-commerce websites in 10 countries. With 2013 sales of $466 billion, Wal-Mart employs 2.2 million workers worldwide.
The five cars that were chosen included the following: A Ford pickup truck, a Buick sedan, a Toyota minivan, a Porsche 9-11 Turbo, and a Mercedes Benz C-Class. The individuals' personalities varied by gender, age, manner of dress, and other distinctiveness. They consisted of a twenty-one year old, white female; a thirty-four year old black male; and a fifty-two year old Hispanic male. These three individuals, ranging from various demographics were asked to match each of the five people in the personality groups with one of the five cars that described his/her personality most accurately. After analyzing the results of the individuals' answers, many strong consistencies were present in their responses.
What major technology change has had the greatest impact on the quality of your life?
It creates an environment where it is difficult for retailers to grow their business. According to Jia (2005), Wal-Mart destroyed 50-70 percent of small discount retailers from 1988 to 1997 (Basker 191). It shows that Wal-Mart wreck small-scale business within few years. As Wal-Mart is a big multinational company and operates on the much bigger platform. It does not require any sponsor's but on the flip side, the small-scale business needs funds and sources to establish themselves in the market. Between 1963—one year after the first Wal-Mart store opened in Rogers, Arkansas—and 2002, the quantity of single-store retailers in the United States declined by 55 percent (Basker 178). Overall, taking the evidence into consideration it is seen that the entrance of Wal-Mart in the business world has a serious impact these minor businesses. In a Pew Research Center (2005) study, 19 percent of respondents with a Wal-Mart store in their general vicinity felt that it had a negative impact locally, and 24 percent of all respondents suspected that Wal-Mart was awful for the nation (Basker 178). This research shows that Wal-Mart has negative effects on both locally and for the country as well. Wal-Mart makes a hard-focused condition. Each new Wal-Mart store diminishes nearby contenders' piece of the pie and profit edges and makes a few organizations close (Basker 190). Wal-Mart creates a
Marketing is a fundamental aspect of all businesses, whether they are set out to make a profit, or charitable organisations - they will have to carry out marketing research of some description. It has been described as being, “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Chartered Institute of Marketing) This essay will explore the role of marketing in a marketing oriented business and different aspects of the external environment that a smartphone company should be aware of. The points raised throughout will be supported using relevant journals, textbooks and newspaper articles.
The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.