WalMart Marketing Essay
Exert buying power to achieve cost leadership. The large purchasing amount makes WalMart become the cost lead in America through the successful "Buy American" program. The next program might be "Buy Asian", because Asian produced goods are no longer considered low process but poor quality. It is high quality but low prices now.
Do main the on-line retailing through advanced IT and full range categories. On line shopping will be the next hot trend of the world, and WalMart should use its advanced IT system and everything offering selling notion to consolidate its #1 position of on-line retailer.
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The #1 world discount retailer and its sophisticate value-chain system as well as the huge buying power will make other competitors to think carefully before they enter the Asian market.
Establish joint ventures in foreign markets. That will give WalMart several advantages:
- To know other's culture better;
- To deal with foreign governments effectively;
- To get more benefits from the foreign government through the foreign parties;
- To manage foreign staff efficiently
Marketing Strategies:
- Win foreign markets by through study of local culture, demands etc. It is true that in one country different areas have various cultures. Thus, knowing the customers well is the key.
- Improve the employer-employees relationship. It is not only a "work and pay" relationship, but also a mutually developing relationship.
- Good cooperation and c communication with foreign government. It is the government who sets the rules, so a mutually trusting and beneficial relationship is always helpful.
- Reconstruct the too aggressive image and to be a contributor if local communities. Having the experience of WalMart killing local retailers, some people fear WalMart becoming the "sole rule setter" in the local communities. It is the time for WalMart to change the negative influence. It needs to be more like a contributor rather than an invader to the local communities - WalMart brings people more benefits than harm.
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