New Product Performance Analysis

New Product Performance Analysis

Walmart’s top-selling products

The instant pot is one of Walmart’s fast-moving products. The Instant Pot 6 Qt. The 7-in-1 multi-use programmable cooker is retailed at $49 at the store. This price is friendly and affordable for many clients in comparison to Amazon’s prices. At Amazon, the instant pots retail for at least $60. This means that Walmart is the preferred retailer for instant pots. Similarly, the Assurance Premium XL disposable washcloths, 144 counts, are low-selling products. The product retails for $6.97, which is cheaper than Amazon (Amazon.com, Inc., 2022).

Both products’ placement is easily accessible to different populations. Walmart has an online store, which makes it easy for people to shop at their convenience. The increased adoption of online shopping due to the comfort and ability to compare different online sellers motivates more people to buy from Walmart. The clients can also obtain products from the physical stores. However, there are delivery issues that clients have raised that may affect the purchase.

The product is ideal for the currently busy population that lacks enough time to wait for long cooking meals. The increased rate at which people are committed to multiple activities leaves little time for cooking. The instant pot significantly reduces the cooking time, which attracts more clients. The promotion of products at Walmart utilizes different platforms, including websites, television, and newspapers (Ferguson, 2019). This enables the seller to reach more people. However, disposable washcloths may not attract a large market as people are gaining more awareness regarding environmental conservation, which may reduce the product’s popularity. In addition, the reviews that clients have provided regarding the product’s delivery can negatively influence its sales (Walmart, 2022).

References

Amazon.com, Inc. (2022). Assurance-Premium-Disposable-Washcloths. Retrieved from Amazon: https://www.amazon.com/Assurance-Premium-Disposable-Washcloths-144/dp/B08DNWRYPR

Ferguson, E. (2019). Walmart Inc.’s Marketing Mix (4Ps) Analysis & Recommendations.

Walmart. (2022). All Incontinence. Retrieved from Walmart: https://www.walmart.com/ip/Assurance-Premium-Disposable-Washcloths-XL-144-Count/24360534

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Retailers use the Four Ps (Product, Placement, Price, Promotion) to help consumers make product choices. In this assignment, you will describe how the four Ps are used to impact top-selling and low-selling items.

Instructions

1. Visit a retail store and identify what you think is a top-selling and a low-selling product.
2. Apply each of the Four Ps to explain how you reached your decision for both products.
3. Answer: What clues do the four Ps provide as to how the item sells in the store?