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 in the Context of New Retail
* Author to whom correspondence should be addressed.
Abstract
With continuous innovation and wide application of technologies such as the Internet and big data, the Internet economy has flourished, laying the foundation for the transformation of physical retailing to new retailing. The main advantage of new retailing lies in the combination of the quality experience of physical stores with the high efficiency of online retailing, which points the way for the development of the retail industry. Taking Walmart Company, a world-renowned retail industry giant, as a case study, the paper adopts the 7PS marketing mix theory to study the current marketing situation of Walmart Company. The research found that Walmart has problems such as unreasonable packaging and display of some products and an inefficient logistics supply chain. To this end, this paper proposes optimization solutions including the improvement in product quality, the investment in intelligent information technology, and the construction of a centralized supply chain management model.
Keywords
new retail, Walmart, marketing strategy, 7Ps marketing mix strategy model
References
1. Wang, K. and Xiang, F. (2018). The theoretical structure and research paradigm of "new retail". Circulation Economy in China, 32(01), 3-11.
2. Yu, J. (2018). New retail era: Marketing innovation reconstruction. China Advertising, 6, 90-92.
3. Rigby, D. (2011). The future of shopping. Harvard Business Review, 89(12), 64-76.
4. Li, X. D. (2020). Walmart in the digital transformation: The biggest challenge is not technology but the change of thinking. Xinhua Monthly Report, 3, 45-49.
5. Bian, L. Y. (2007). Comparative study of 4P marketing mix and 7P marketing mix. Shopping Mall Modernization, 35, 85.
6. Wen, J. (2017). Kotler's Marketing Strategy. Changchun: Jilin Literature and History Publishing House, 15-16.
7. Li, L. (2021). Research on the marketing strategy of M supermarket chain under the new retail background. Hebei University of Technology.
8. Gao, J. M. (2020). Research on Walmart strategic cost management. Financial management research, 8, 84-88.
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
- 10.54254/2754-1169/44/20232176
- 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