Executive Summary

Figure 1 Walmart logo

If there is one place where you can buy most products in the shortest time, it must be
Walmart. Walmart not only allows you to order online and have the items delivered to
your doorstep, but you can also shop in-store without having to wait in line for quick
checkout. In the competitive retail market, Walmart is impossible to ignore. As a global
chain enterprise, Walmart has been among the Fortune Global 500 companies for ten
consecutive years, and this achievement is inseparable from its commitment to the belief
that "customers are gods".

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Introduction

Walmart Stores, Inc. was established in 1962 by the legendary figure in the US retail
industry, Mr. Sam Walton, in Arkansas. It has now become the largest private employer
in the United States and the largest retail chain enterprise in the world. With over 10,000
stores in 27 countries, it operates 69 brands and has a total global workforce of over 220.
In 1991, Walmart's annual sales exceeded $40 billion, making it one of the world's largest
retail enterprises.
Walmart's mission is to "help customers save every penny" and it has fulfilled its promise
of offering the lowest prices. The company has always adhered to the principle of
"service surpasses others, employees are exceptional" to provide customers with top-
notch service. When entering Walmart, customers can personally experience the warm
and attentive service. It promotes the concept of "one-stop" shopping, enabling clients to
shop for all they require in the lowest amount of time, promptly and conveniently.
Modern shoppers are drawn to this quick and easy buying experiences.

Then again, regarding the Marketing Mix, we can review the concept of the marketing
mix which consists of 4p, which consists of product, price, place, promotion.

1.Product: Walmart offer a large selection of goods to cater to the needs and wants of
their customers. They employ various strategies in selecting their product assortment:

• They leverage bulk purchases to offer discounts and low prices to customers.
• Their connections with their suppliers are solid.
• Walmart's private label products are exclusively sold at specific locations within their
stores.

2.Price: A product's price has a big influence on how successful and long-lasting it will be
in the future. It establishes the revenue earned from sales and the product's marketability.
The profit per unit sold will be high if the product is priced high. On the other side, there
is a greater chance of demand if the price is low. The value of a company might be high
with low volume or low with great volume.Walmart has perfected its pricing strategy in
the following ways:

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• Pricing products at a level that customers can afford and focusing on bulk sales to
generate high volume sales rather than pricing products too high.
• Robust procurement practices enable the business to bargain for the lowest costs with
suppliers along the supply chain, sustaining low prices.
• Diversification makes sure that when promotions are insufficient, sales of other products
can still be boosted by free products.
• A more effective supply chain can result in lower costs and greater efficiency. This can
be rendered possible by the use of universal barcodes and SKU systems.
• Offering diverse payment methods such as cash payment or installment plans for larger
purchases (e.g., appliances or furniture).

3.Promotion: Promotion strategy is a marketing tactic that organizations use to attract or

inspire consumers to learn about their company's products.
Walmart frequently holds promotional events with discounts available all year round.This
shop uses catchphrases that allude to affordable prices, such as "Save money, live better,"
"The lowest price store," "Fresh and worry-free," and "Everyday low prices."
Customers that shop online are given the best quality of service because they offer quick
and safe shipping options.
Customers may shop with confidence at Walmart because most of the products they sell
come with dependable warranty and replacement programs.

4.Place:In any commercial operation, the location is essential. The design of the company
and its location are important elements for customers. Walmart uses a variety of tactics to
make sure that location-related aspects are advantageous to the business:

• A robust e-commerce platform allows customers to purchase goods online at any time.
• Carefully planned distribution center networks enable stores to easily gather orders and
deliver products directly to consumers.
• Advanced IT systems allow the organization to track products, whether they are in
transit or in inventory.
• Prime geographical locations, particularly in the United States, where Walmart stores
are strategically positioned in city centers.
• Delivery truck fleets that enable efficient door-to-door delivery.

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• Branding and differentiation of many Walmart stores, such as Walmart Supercenters,
Walmart Neighborhood Markets, Walmart Express stores, and Walmart Discount stores.

Content

Why customer centriccity is important for Walmart

A customer-centric culture can effectively improve customer retention. Retaining

customers is crucial for establishing repeat business, as it has been proven that customer
service is more cost-effective compared to acquiring customers.making the provision of
high-quality service a necessary condition for building a high retention rate.
For customers, Walmart understands the importance of customer service and cares about
customers more than any competitor. They experience a customer-centric culture at
Walmart, where they can buy almost everything and goods are organized in an orderly
manner. The staff is enthusiastic and responsible, and customers can even make self-
payments at the checkout.

Why companies must study their consumer behavior

A typical and often used study in market research is consumer behavior research. It refers
to the analysis, both quantitative and qualitative, of the numerous steps consumers take to
get, utilize, and process consumer goods as well as the pre-action decision-making
process. This study contributes to our understanding of how customers obtain goods and
services, utilize them, and discard them thereafter.It forms the foundation of marketing
decisions and is closely intertwined with the marketing activities of businesses. Consumer
behavior research is of great significance in improving the level of marketing decision-
making and enhancing the effectiveness of marketing strategies.
Through consumer behavior research, Walmart in China has recognized the differences in
consumer behavior brought about by different countries. Based on the analysis reports of
consumer behavior, they have adjusted the variety and placement of goods, optimized the
efficiency of checkout queues, and provided customers with almost everything they need

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at Walmart. Researching consumer behavior and optimizing based on the results is the
fundamental reason why Walmart has become one of the most popular supermarkets.

References
Volpe, R., & Boland, M. A. (2022). The Economic Impacts of Walmart Supercenters.
Annual Review of Resource Economics, 14, 43-62.
Chan, A. (Ed.). (2019). Walmart in China. Cornell University Press.

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Chuang, M. L., Donegan, J. J., Ganon, M. W., & Wei, K. (2011). Walmart and Carrefour
experiences in China: resolving the structural paradox. Cross Cultural Management: An
International Journal, 18(4), 443-463.

Appendices