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Marketing strategy Essay Answer

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Marketing strategy is the commerce’s total game idea for reaching potential leads and turning them into clienteles of the commercial’s goods or amenities. Usually, it includes the firm’s value proposition, key brand messaging, data on target client populations, and another sophisticated component. There are four rudimentary marketing strategies: price, promotion, product, and place. Product denotes a product or amenity that a firm offers to clients. Preferably, a good should satisfy prevailing customer demand. To be fruitful, vendors need to comprehend the life cycle of a good, and commercial administrators need to partake in a strategy for dealing with good at each phase of their life cycle. Price is the rate customers recompense for good. Marketers ought to connect the price to the product’s actual and alleged worth, but they also ought to consider supply charges, periodic discounts, and contestants’ charges. When a firm makes choices concerning place, they are trying to regulate where they would vend a good and how to distribute the good to the marketplace ( Morgan et al., 2019, p 15). The promotion comprises publicity, public relations, and the P.R. plan. The aim of promoting products is to disclose to customers why they need it and why they should recompense a specific charge for the product. A company may use these four to outdo its competitors. In this study, we are going to discuss Walmart company and the strategies it uses.

Walmart is a multinational company based in the united states of America. Walmart, Inc. engrosses in a retail and wholesale commercial. The Corporation offers a variety of goods and services at an ordinary little fee.  Walmart bids electric movies, music, footwear, and foodstuffs, among additional goods. Walmart has been in existence for fairly some moment, and the Corporation is performing well. Its superb services to its honored clients have qualified the Corporation to stay at the topmost. Walmart’s topmost opponents are eBay, Ascena Retail Group, Qurate Retail Group, and Albertsons.

Walmart company has always been at the topmost of its competitors due to the following reasons. First, the capability to benefit from the altering commercial climate and Walmart can recognize the changing American custom, and the company has attuned itself consequently. Second, Walmart’s main marketing point has permanently been in the words of its utmost well-known motto, “continually truncated charges.” Walmart will vend its goods at a relatively lower price than any of its competitors and has constantly done so for years. The company also doesn’t rely on gimmicks and sales to get customers through the door because it does not ought to.

But truncated charges are not just the solitary motive why Walmart company is enduring the retail store. The company’s stores have enhanced in quality. When Mark was cutting into Walmart’s trade portion, two of the motives why were Target offered improved quality goods and purchaser service. Walmart has lately upped its game in the mutual departments. They have amplified the quality of their products, and more significantly, they have commenced addressing their client service snags.

Another strategy that Walmart uses is growth strategies such as market penetration, market development, diversification, and product development. Walmart’s core intensive progress tactic is market penetration. This strategy involves vending more products or amenities to the Corporation’s present markets. Present souqs are those where the business has prevailing processes. In executing this intensive strategy, Walmart vends extra products and services to its present customers by offering discounts ( Fadel, 2019). For instance, the firm gives discounted extensive correspondences of numerous products as a cost leader.  Market development encompasses offering the Corporation’s prevailing products and amenities to new-fangled markets. For instance, in using a market development strategy, Walmart comes up with new stores in nations where it doesn’t yet have maneuvers.

Walmart uses product development as a strategy of outdoing its competitors and gaining a competitive advantage. Product development encompasses evolving and offering new-fangled goods to the marketplaces where the Corporation presently has operations.  Walmart has slight speculation in novel product development. This Corporation emphasizes its reserves on sales and marketing. Nevertheless, using product development strategy brings about the planned objective of capitalizing more in development and research to develop novel facilities prevailing goods.

A gap is a market segment that prevailing commerce is not yet serving. For example, product gaps may serve as a business opportunity to most business owners or dealers. As Walmart company deals with electronics, it fills the gap of online marketing by introducing the advanced service of online shopping and means of advertising. This fill of gap will lead to increased sales.


Fadel, S. (2019). Encyclopedia of major marketing strategies, volume 4: edited by Mathew Miskelly, Farmington Hills, MI, Gale, 2019, 500 pp., $683.00, ISBN 978-1-4103-8934-3.

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science47(1), 4-29.

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