Wal-Mart, the largest retailer in United States is one of the most successful organizations in all aspects of business. The reason cited by the customers, to buy products from Wal-Mart is the low prices. According to me, it is a marketing strategy such as low prices, easily accessible stores, product appeal to a variety of customers, 24/7 customer care, and the social media campaigns that have made Wal-Mart a successful retailer. Wal-Mart, as a retailer develops and promotes high quality brands with either the store’s name or an independent name . Kmart, a competitor of Wal-Mart lost many of the discount shoppers, as its marketing strategy focused more on investors, rather than the customers.
Consumer behavior towards products or services, including the 4 P’s of marketing strategy can be positive or negative, as they bring happiness or unhappiness, which can last for a short or a long period. With a bad marketing strategy the consumers behavior can be visiting the store once in a while, smaller baskets, or a combination of the two . Organizations gain popularity by dominating the market due to no competition; however, such organizations fail if they are unable to provide quality products, and affordable prices, and excellent customer service.
First of all, I was inspired by the promotion of the newly launched slim concave television that I went to the store to know more about its features. Secondly, I had not explored the historical museum nearby my house since many years due to its high priced tickets; however, they offered 50% discount last Saturday, and I did not miss the opportunity to visit the place. Lastly, I dropped the plan to visit the snow city, as my friends told their bad experiences and reviews about the snow city services. Ultimately, without good distribution, buyers would not be able to acquire goods and services when and where they need them .
References
Ferrell, O., & Hartline, M. (2007). Marketing Strategy (4, Illustrated ed.). Cengage Learning.
Hawkins, D. I. (2010). Consumer Behavior: Building Marketing Strategy, 11E (Sie). Tata McGraw-Hill .
Singh, V. P., Hansen, K. P., & Blattberg, R. C. (2006, October). Market Entry and Consumer Behavior: An Investigation of a Wal-Mart Supercenter. Marketing Science, 35(5), 457-476. doi:doi10.1287/mksc.1050.0176
