Since its entrance into the market, Wal-mart has made strides by making a mark in the market. Today Wal-mart forms one of the major companies that have a large market share in terms of its customers and suppliers. The mission of Wal-mart Company involves enhancing and integrating its supplier diversity programs into all of its procurement procedures and be able to advocate for minority groups and women-owned businesses. This paper looks at the marketing plan for Wal-mart Company, its marketing objectives and recommendations for change.
Since the entrance of Wal-mart to the market, it has maintained a marketing strategy that makes it offer its products and services at low prices. The main objective of Wal-mart involves providing products and services at low prices so that more customers can afford to buy their goods. The company does this to ensure that it retains a large customer base. The company strives to offer customers with products that they want at low prices (Taylor & Archer, 2005).
The television commercials that Wal-mart uses, as its marketing strategy, features real customers and associates to relate to the reasons why people should shop at Wal-mart stores. Because of its strategy, Wal-mart has attracted many customers, some of whom call the marketing department wanting to feature in Wal-mart ads on television. Recently, Wal-mart changed its marketing policy to always the lowest price. This reflects the position of Wal-mart regarding its products (Taylor & Archer, 2005).
Wal-mart recommends that its focus on small, medium-sized customers that other companies ignore. Minority groups and women-owned businesses feature. The company realizes that by so doing, it will attract many people who can afford to buy its products. Wal-mart does not only recommend the production of low-cost goods but also high-quality products. The company has strived to produce goods with high quality and sell them at low costs. This has helped the company own a large customer base that increases (Taylor & Archer, 2005).
The mission of Wal-mart has helped it focus on getting more customers who buy goods in bulk from the company but at a low cost. This has helped the company sell more products and gain a high standing in relation to its customer base.