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Marketers Diary: Pricing, Differentiation, Profiling, Segmentation and Targeting - Case Study Example

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The "Marketer’s Diary: Pricing, Differentiation, Profiling, Segmentation and Targeting" paper describes and analyzes niche product marketing of Nike company, and marketing in oligopoly competition of Procter & Gamble (P&G), Unilever and Colgate-Palmolive. …
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Marketers Diary: Pricing, Differentiation, Profiling, Segmentation and Targeting
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Download file to see previous pages Wal-Mart is a leader in the market place.

Marketing is about building customer relations and customer satisfaction through four P’s – product, price, promotion, and place. Customer relations are achieved through a good understanding of the needs, wants, and demands of the customers and meeting them even as they change over a period of time. Customer satisfaction is achieved when the customers sense that they are getting good value for their money when they exchange it for the products or services offered by a business. Wal-Mart’s value proposition to its customers is to offer the best quality products at the lowest possible prices (Walmart.com, 2009).

Product quality is directly linked to a product’s price on the one hand and customer satisfaction on the other, both of which are critical for long term growth and profitability of a business. Inferior quality products and hence cheap prices may temporarily attract buyers but the bad publicity associated with such products will make
Coming to product prices, high prices may not always mean correspondingly better quality; it may simply mean products that are meant for ego satisfaction of a select few customers or prices to reap the first entrant advantage for a new product. For a retail chain operator like Wal-Mart, the scale of operations and offering good value for money are important factors. Wal-Mart achieved this objective by setting up large scale retail stores in suburban areas where the price of real estate is lower and outsourcing its standard quality products from China where labor costs are low (Case study, Rugman & Collinson, 2009, pp.30 &31).

Wal-Mart has the objectives to retain status as the world’s largest retail chain stores and to offer best quality products at the lowest prices and hence the marketer must also function as the eyes and ears of the company and alert it on the way competitive forces are shaping up from time to time.  ...Download file to see next pages Read More
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