Pros and Cons of Walmart's Recent Strategic Marketing Plan: Essay

Topics:
Words:
444
Page:
1
This essay sample was donated by a student to help the academic community. Papers provided by EduBirdie writers usually outdo students' samples.

Cite this essay cite-image

Walmart is an American multinational retail company that operates a chain of supermarkets, departmental discounters, and grocery stores. The corporation was founded in 1962 by Sam Walton, and now its headquarters are located in Bentonville. Walmart has approximately 11,496 stores and 57 clubs and operates in 27 different countries around the world. This is the world's leading revenue collection company and the largest private employer with approximately 2.2 million employees.

With the development of global marketing, Walmart’s marketing campaign has been changing over the years in order to achieve better growth of the business. In particular, Walmart’s marketing campaign and tagline have evolved from ‘Always Low Prices’ to ‘Save Money, Live Better’, which is fitter with Walmart’s new business strategy. In this essay, I am going to evaluate Walmart’s recent strategic marketing plan by identifying its pros and cons.

Save your time!
We can take care of your essay
  • Proper editing and formatting
  • Free revision, title page, and bibliography
  • Flexible prices and money-back guarantee
Place an order
document

From my perspective, Walmart’s latest strategic marketing plan has three advantages. First of all, customers could directly know what Walmart could bring to them. Specifically, if the customer would like to save money, then Walmart would be their best choice. Secondly, compared to the old tagline which is ‘Always Low Prices’, Walmart could attract new customers using the new tagline. Particularly, new customers could be attracted, if they would like to live better, they would like to try to purchase at Walmart. Thirdly, the new strategic marketing plan could not only attract new customers but also could retain existing customers for the reason that the new tagline, ‘Save Money, Live Better’, maintains the lower price. Therefore, customer loyalty could be another advantage of the new strategic marketing plan.

However, the new strategic marketing plan has some drawbacks. I would like to discuss one of the disadvantages which may have a negative impact on Walmart’s competitive position in the market. It is hard for Walmart to remain competitive status with this strategy marking plan. Particularly, there are more and more similar retailers in the market, such as Costco. Based on Lawrence Gregory, Costco’s business strategy is cost leadership. Costco’s strategy is pretty similar to Walmart’s strategy. In addition, according to a survey conducted by Forbes, Costco’s annual revenue growth rate from 2014 to 2019 was 6.3%, which is 3.9 times higher than Walmart’s growth rate of 1.6% (Forbes, 2020). Based on this survey, it is clear that because of increasingly fierce market competition, it is difficult for Walmart to continue to maintain its competitive status in the market with the ‘Save Money, Live Better’ strategic marketing plan.

Thus, the recent strategic marketing plan of one of the major retailers in the United States, Walmart, has both pros and cons, which have been analyzed in this paper.

Make sure you submit a unique essay

Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions.

Cite this paper

Pros and Cons of Walmart’s Recent Strategic Marketing Plan: Essay. (2023, November 15). Edubirdie. Retrieved June 16, 2024, from https://edubirdie.com/examples/pros-and-cons-of-walmarts-recent-strategic-marketing-plan-essay/
“Pros and Cons of Walmart’s Recent Strategic Marketing Plan: Essay.” Edubirdie, 15 Nov. 2023, edubirdie.com/examples/pros-and-cons-of-walmarts-recent-strategic-marketing-plan-essay/
Pros and Cons of Walmart’s Recent Strategic Marketing Plan: Essay. [online]. Available at: <https://edubirdie.com/examples/pros-and-cons-of-walmarts-recent-strategic-marketing-plan-essay/> [Accessed 16 Jun. 2024].
Pros and Cons of Walmart’s Recent Strategic Marketing Plan: Essay [Internet]. Edubirdie. 2023 Nov 15 [cited 2024 Jun 16]. Available from: https://edubirdie.com/examples/pros-and-cons-of-walmarts-recent-strategic-marketing-plan-essay/
copy

Join our 150k of happy users

  • Get original paper written according to your instructions
  • Save time for what matters most
Place an order

Fair Use Policy

EduBirdie considers academic integrity to be the essential part of the learning process and does not support any violation of the academic standards. Should you have any questions regarding our Fair Use Policy or become aware of any violations, please do not hesitate to contact us via support@edubirdie.com.

Check it out!
close
search Stuck on your essay?

We are here 24/7 to write your paper in as fast as 3 hours.