Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 44 , 10 November 2023
Open
Access | Article
Analysis of Walmart's Marketing Strategy Based on STP Theory
* Author to whom correspondence should be addressed.
Abstract
Walmart is a retail industry leader, and its growth and success have given the company a measure of reference significance. Analyzing the retail industry's current market condition, resolving the challenge, and providing strategic reference for other businesses may all be accomplished by studying Walmart's approach to marketing. This study examines the following aspects of Walmart's marketing strategy through literature review and analysis method: market segmentation, market target, and market positioning, with an eye on the theory underlying each of them. The research concluded that Walmart used population, geography, and the purchasing power of different consumer groups to divide the market into distinct segments, and that the company used both a generic marketing strategy and a more targeted marketing strategy to meet customer demand for its low prices and convenient locations. Walmart has made tactical tweaks to the aforementioned marketing methods to account for the ever-shifting nature of the market. In order to pursue the sustainable development of businesses, the paper adopts a more complex and humanized segmentation principle, modifies the market target strategy and market positioning, and upgrades the positioning to energy conservation and environmental protection.
Keywords
Walmart, marketing strategy, market segmentation, market positioning
References
1. Corona R. Is Costco better than Walmart? A comparative analysis based on enterprise marketing efficiency[J]. A Comparative Analysis Based on Enterprise Marketing Efficiency (April 15, 2009), 2009.
2. Chuang M L, Donegan J J, Ganon M W, et al. Walmart and Carrefour experiences in China: resolving the structural paradox[J]. Cross Cultural Management: An International Journal, 2011, 18(4): 443-463.
3. Chang Y, Hu J. Analysis on the mode of multinational retail enterprises entering Chinese market—Take Walmart, Carrefour and Metro as examples[J]. Modern Economy, 2020, 11(01): 17.
4. Pandey R, Dillip D, Jayant J, et al. Factors Influencing Organization Success: A Case Study of Walmart[J]. International Journal of Tourism and Hospitality in Asia Pasific (IJTHAP), 2021, 4(2): 112-123.
5. Ailawadi K L, Farris P W. Managing multi-and omni-channel distribution: metrics and research directions[J]. Journal of retailing, 2017, 93(1): 120-135.
6. Li Ping.Analysis on the strategy of retail giant - Wal-Mart to choose international target market[J].Business & Economy,2009(20):64-65.
7. Jindal R P, Gauri D K, Li W, et al. Omnichannel battle between Amazon and Walmart: Is the focus on delivery the best strategy?[J]. Journal of business research, 2021, 122: 270-280.
8. Banerjee D. Walmart Stores Inc.-A Strategic Analysis[J]. International Journal in Management & Social Science, 2015, 3(12): 202-225.
9. Pingolia S. Case Analysis of Walmart and Flipkart M&A[J]. Available at SSRN 3701098, 2020.
10. Vermillion L J, Peart J. Green marketing: Making sense of the situation[C]//Allied Academies International Conference. Academy of Marketing Studies. Proceedings. Jordan Whitney Enterprises, Inc, 2010, 15(1): 68.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-109-4
- ISBN (Online)
- 978-1-83558-110-0
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/44/20232205
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited