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MARKETING PLAN - Term Paper Example

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It sees itself serving the majority of the population by offering the most competitive prices, giving rewards to loyal customers and providing exciting promotional gimmicks that would be…
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MARKETING PLAN
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Mary King 15392 MISSION OF THE COMPANY Wal-mart aims to be the top retailer/ supermarket of choice in Indianola, Mississippi. It sees itself serving the majority of the population by offering the most competitive prices, giving rewards to loyal customers and providing exciting promotional gimmicks that would be mutually beneficial to the company and to the customers.
Wal-mart wants to establish the name in Indianola, and eventually expand the operations to other cities in Mississippi and other nearby states.
2. DESCRIBE ITS TARGET MARKET
Wal-mart’s target market is those belonging to the working class. They are the ones who have regular jobs, and who are average income earners. It targets households who have the average income of about $ 3,500 (Salary Survey for State: Mississippi 2009). These are individuals/ groups who wish to be in control of their spending, those who are budget conscious and are always in the lookout for good finds and bargains so they could maximize their budget. They will most likely shop in a supermarket that offers one of the lowest prices. They will be interested in a place that is haven for those who wish to stretch their budget.
Target market includes both men and women who are contributing to the earnings of the household. They are the decision makers who are in control of identifying which products to purchase for the daily needs of the house. Secondary target market are the children and younger ones who also have great influence in the purchasing decisions of their parents/ guardians.
3. IDENTIFY THE PRODUCT, PRICING, PROMOTION, AND DISTRIBUTION STRATEGIES
Wal-mart will retail standard supermarkets, both dry and wet goods. It will carry a wide range of products, from beauty and health care, to kitchen items and food, and even garments and small appliances. It will also have a snack counter where shoppers could stop by while finishing their shopping. It will be offer a one-stop shopping convenience that will provide the customers with all the necessary items they usually shop for when visiting a supermarket.
Wal-mart will be a warehouse type of supermarket experience. It will have wide aisles, spacious shopping areas that best suit those who buy items in bulk. The store is designed to make shopping comfortable for its customers. Pricing will be competitive – the management will ensure that the store offers the lowest in the industry. The store will also offer loyalty programs for those who are frequent buyers. It will give additional discounts to members of this loyalty programs.
Wal-mart will do promotions through local television and radio advertisements. It will also place occasional advertisements in local newspapers on a regular basis. Wal-mart will also do below-the-line advertising via ad placements in billboards situated in key areas in the cities. Key areas include bus stops, train stations, and in commercial areas such as malls and other commercial complex. On top of this, a comprehensive loyal program that would encourage the shoppers to do repeat purchase shall be implemented on a long term basis. Loyalty will be measured in terms of points, and members will have loyalty cards that would entitle them to perks and privileges within the Wal-Mart stores.
Reference List
Salary Survey for State: Mississippi. Retrieved December 12, 2009 from http://www.payscale.com/research/US/State=Mississippi/Salary Read More
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