Target Market Profile of Walmart

Target Market Profile of WALMART Consumer Behavior A target market refers to a section of customers that a business establishment plans to sell its products or services to. The main aim or goal of every business establishment is to sell its products or services to the target market at a profit. Every marketing strategy of any company must begin with a well-defined target market. A company’s target market comprises of a group of potential customers that it plans to sell its products to. For any company to be successful in today’s competitive environment, it should anticipate the needs of its potential customer and work towards meeting those needs. There is a huge difference between identifying the needs of the target customers and putting in effort to make sure that those needs are met. Wal-Mart’s main policy is to help its customers to save money by ensuring that it offers the best prices in the market. Wal-Mart reaches out to the lower, middle class and the poor in the society who strive to meet their daily needs. This category of the market is the largest in the US and many other countries where it operates. This policy has made it a very popular name in the US. It also confirms why the company has a retail outlet in every city in the country (Ferrell & Hartline, 2008). The poor and the middle class in the society forms a large part of the American population, thus enabling the company to perform reasonably well even in places where its competitors find hard to base their operations. This has helped it to claim a huge market share region where it has dominated. Many shoppers in America rank Wal-Mart as the retail outlet with the lowest prices on any item. This has helped it win the confidence and loyalty of many customers overtime. For example, Wal-Mart sells Aveeno body wash at less than $5 while other stores sell it for more than $5. The people Walmart doesn’t target are the wealthy. They don’t sell products that anyone would consider high-end. The truly wealthy don’t shop for their own groceries, they don’t buy our clothes, and they don’t bring their cars in for service. They don’t shop for jewelry we sell. They buy higher end electronics. They don’t shop at Walmart to decorate their homes. Walmart’s target market is the vast majority of people. From the ones who need to find the lowest prices, to those who simply want a bargain and convenience. People like them will surely be tempted and attracted on buying products that are lower than the expected price that they should be. People with no money or who want to be frugal. In America, there is a lot of people who may have 2 jobs plus, but still are below the poverty line with all those kids. Walmart is a one stop, cheap shop where you can get anything from tires to gourmet bananas, and you can also get your nails done, eat some food, get your flu shots, and get a haircut. The addition of pickup makes it easier for these hard working Americans to get groceries. They also serve as a job for those Americans in need of work. This type of thing is becoming less and less desired, so Walmart has adapted in many ways. For example, newer facilities, self-checkouts, willing helpers, and technology. Wal-Mart buyers literally shopped the world for merchandise suitable for the company's stores it purchased from 61,000 U.S. suppliers and some 5,000 foreign suppliers in 40 countries in 2007; purchases from U.S. suppliers totaled $200 billion in 2005 and supported more than 3 million American jobs. That’s why Wal-Mart gain a lot of loyalty because of their mission “To help people save money so they can live better”