Walmart Strategy Analysis

Strategy

Strategy is the combination of goals, plans and actions design to achieve a certain mission of an organization (Dyck & Neubert, 2012). The importance of strategic management is illustrated by the two companies that was founded in 1962, the Wal-Mart and Kmart. Both chains have some similarities including the names, store atmosphere, markets served and the organizational purpose. Yet the financial performance of Wal-Mart is greater than Kmart. It was answered that it is because managers differs in how well they implement and create strategies, and this difference affects the competitiveness of their organization. Strategic management is used in all kinds of organization because it gives a way to answer what should an organization take

Someone in the organization like the marketing managers or the marketing department itself must make an action and develop a complete marketing program to gain consumers by using the four tools which is often called the “4 Ps of Marketing” which can serve as a useful reference to them. Marketing mix (product, price, promotion and place) serves as the manager’s controllable element that can be used to solve some problems of marketing. (Kerin, Theng, Hartley, Rudelius, 2012) The first P of the marketing mix is the “Product” which is defined as the good, service or ideas that satisfies the needs of the customers or the consumers. The second P is the “Price which is the amount of the product that we give in exchange to the product. The price level of an operation might crucially affect the restaurant choice of customers, particularly ‘impulse’ buying decision (Davis, Lockwood, Alcott & Pantelidis, 2012). The third P is the “Promotion” which is the communication between the seller and the buyer. And the last P is the “Place” which is defined as the means of getting the product in to the

A director who is looked with a specific issue ought to not intuitively turn to leading promoting examination to discover an answer for the issue. a chief ought to consider a few factors previously requesting promoting examination and direct an esteem investigation to answer the basic inquiry will the lessening in hazard be more noteworthy than the cost? Which incorporates the time delay related with holding up to settle on the choice.

Though the need for resources to be available may appear to be obvious, in a few examples managers have called for marketing research without appropriately understanding the measure of assets accessible including both monetary and human resources. Lack of assets can bring about dishonorable and wasteful execution of an advertising research venture. The results of such research frequently will be mistaken. Once more, if reserves are accessible to lead appropriate research however are lacking to actualize the consequence of the research, the marketing research is made useless. Also, the accessibility of an ability pool is a basic issue in choosing whether or not to direct broad showcasing research. This is especially so when the examination is being led by an outside source. at the point when inadequately qualified research are procured, the shortcomings in their preparation and absence of