Marketing Mix at Walmart

Marketing Mix at Walmart

The Changing Concept of ‘Place’ at Walmart

In the face of increasing e-commerce usage, the definition of place by retailers like Walmart is changing. It is no longer only about the traditional brick-and-mortar site where shoppers can access products. Notably, ‘place’ now also refers to how the retailer ensures its customers gain access to products (Marcilla, 2014). In the era of online business, retailers can sell to their customers through various platforms and channels. The best places for Walmart to sell to its customers come down to one that is convenient and easily accessible. For instance, the company can sell through social media platforms like Facebook. Also, dedicated online stores such as Shopify qualify as a place. Other online marketplaces such as eBay and Amazon can also be referred to as places.

Contribution of ‘People’ to Walmart’s Success

People also matter when it comes to online marketing. Successful online brands and products require passionate people about their job and who are willing to interact directly with customers (Marcilla, 2014). Besides, people reflect the values of a brand; hence, having people who fulfill client needs is good for the company’s reputation. Further, people are involved in offering customer support for online and physical stores. Therefore, the retailer needs to build an environment where there is a seamless interaction between customers and employees. The creation of a suitable environment enhances consistent experiences for both parties. Do you need urgent assignment help ? Get in touch with us at eminencepapers.com. We endeavor to provide you with excellent service.

Expansion of the Concept of ‘Process.’

Walmart is taking steps to improve its shopping processes. One of the initiatives toward this direction is optimizing goods delivery by using machine learning and its associates. The company is leveraging its extensive network of stores to ensure timely delivery of goods to customers to and from work (Repko, 2021). Besides, machine learning helps the retailer ascertain which products it can deliver to its associates to optimize the delivery process. Additionally, the company uses in-store Internet of Things (IoT), including digitized carts that make recommendations. The carts recommend promotions and the use of automated checkout, among other actions that improve the shopping experience. These technology initiatives improve the overall shopping experience.

References

Barberá Marcilla, L. (2014). Business analysis for Wal-Mart, a grocery retail chain, and improvement proposals (Doctoral dissertation, Universitat Politècnica de València).

Repko, M. (2021). Why an emboldened Walmart is looking to beyond retail for future growth. CNBC. https://www.cnbc.com/2021/02/18/why-an-emboldened-walmart-is-looking-to-beyond-retail-for-future-growth.html

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Refer to the information in your courses to answer the following questions related to Walmart’s use of specific marketing mix components in your Walmart location:

1- Place is commonly considered to be the location where the exchange of goods or services takes place. Explain how Walmart’s concept of place is changing due to the popularity of online purchasing.
2- How is the marketing mix element of people crucial to Walmart’s marketing success (both in brick-and-mortar and online environments)?
3- How has Walmart expanded the concept of process (Online Grocery Pickup, self-checkouts, etc.)?