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Running head: MARKET RESEARCH AND INFORMATION
Market Research and Information
MARKET RESEARCH AND INFORMATION
Market research and information
Marketing is one of the most important processes in every organization. This is
particularly important in competitive markets, and where an organization will need to
popularize itself and its products or services to the various clients while at the same time
demonstrating to them the reasons that the products or services offered are better than those of
the competitors. However, not every organization realizes the need for this process.
According to Woodside (2010), this is often an expensive process, one which some of the
businesses may fail to implement in full as a result of the constraints of finances. As a result,
many businesses, and especially the startups, tend to fail due to poor performance and
inability to gain an edge over their competitors. While a business may succeed in one element
of the market, say product, place, promotion, or price, it is important to balance between all
these elements in order for the business to succeed. In this paper, research will be conducted
on Walmart’s market and with a greater focus on the promotion mix. In the process, a survey
will be conducted so as to establish the perception of the public on Walmart’s promotion and
ways that it could optimize this process so as to gain the most value for money.
Background and problem statement
Walmart is the largest organization in the world in terms of revenue generation. In this
case, the company is the largest retailer in terms of the number of outlets, the number of
clients served each day and the revenues that the company generates. Presently, the company
has at least 20,000 outlets situated across all continents and that serve hundreds of millions of
clients each week through both the big box business and online shopping (Barrett, 2016).
However, it has taken a lot of expenses and marketing in order for the company to reach its
current situation. Despite generating the largest revenue, and that dwarfs the next largest
organization by far, Walmart is not the largest company in terms of profits. This is because
the company has the largest expenditure. Recent data show that Walmart spent as high as $2.9
MARKET RESEARCH AND INFORMATION
billion in 2017, which was a significant increase from the $2.5 billion spent in 2016
Walmart uses various marketing options such as internet advertising, social media
marketing, TV ads, newspaper ads, sponsorships, promos, and billboards, among others. Not
all these options generate the highest turnover. According to Al-Debei, Al-Lozi &
Papazafeiropoulou (2013), for example, social media marketing has the potential to generate
higher turnovers than most other forms of marketing despite being one of the cheapest.
However, this was not the case during the past decade. This means that the company needs to
adjust its marketing with regard to the changing consumer and potential customers’ lifestyles.
At the same time, it is necessary for a company to understand its market segments in order to
make a good choice on the marketing options crafted for different segments and that suit
different regions (Dawson, 2005). For products that are sold online, for example, Walmart
could reach the largest audience through the internet and social media marketing, while the
company could reach the largest number of brick and mortar shoppers th...