Running Head: BUS 101 WORK
Bus 101 Work
BUS 101 WORK
Walmart Inc. Case
Walmart was founded by Sam Walton in 1962 and has grown to become a giant in retail
business across the world. The main aim of the company is to help people save their money
and live the best life by offering them goods and services at lower prices. It is in the years 1970
when the company was declared as a publicly-traded company in the United States stock
market. The company reinvented and innovated how products in the world are moved from
production to the hands of consumers who need them (Walmart, 2020).
Walmart has one of the best marketing strategies compared to companies that are
ranked in the Fortune 500 businesses. The company has a marketing strategy that has
continuously undergone design and adjustments since it was founded. The company is known
by customers well, especially because of the low priced products that the company offers. The
trends in consumer behavior keep changing now and then. However, given the size of Walmart
Company adjusting its strategies to cater for the changes is not difficult. The only thing that
can affect the market of the company is shifts in the supplier's trend but given that the suppliers
of the company depend heavily on the company. The company will always get the supplies it
requires to learn the business (Pratap, 2019).
Walmart Market Demographics
The segmentation strategy helps a company to understand its different sub-segments
of consumers and the changes in their needs. Walmart Inc. uses demographic and
psychographic segmentation strategies. Through the psychographic market segmentation
method, Walmart uses statistics about people’s daily activities, lifestyles, interests, and
opinions to define its market. Psychographic segmentation is somehow similar to behavioral
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segmentation. However, it goes a mile further to explore the psychological features of a
consumer (Pratap, 2019).
Demographic segmentation divides the market segment based on gender, age, income,
family size, occupation, race, nationality, and religion. Demographic segmentation is an
important strategy for Walmart because it helps the company to diversify its individual
consumers. The company clearly understands that consumer behavior changes based on age.
For instance, a teenager might buy a cell phone which matches the features of a person his or
her age while a professional might not buy the same cell phone because it does not meet the
features he or she wants. Gender, income, and the race is also important for Walmart because
the factors determine the kind of products customers want. Demographic and psychographic
segmentation is important to Walmart’s market segmentation because they determine how each
product is designed to meet the needs of each consumer (Pratap, 2019).
In marketing, the concept of positioning is crucial. Walmart is considered a place where
families, especially with large needs, like to shop. The company is a great place for pricesensi...
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