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Marketing Plan Analysis and Presentation: Part 2 – Research Template

Directions: Using the company and research sources from the Topic 2 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the “Research Summary” section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs.

Information to be Researched	Research Findings	Resource Citation Information
Describe the customer segments and target markets.	Walmart target market is concentrated at ages 25 to 44. The target market involves a variety of age groups. Walmart uses geographic, demographic, behavioral and psychographic segmentation.	Walmart website: Walmart.com
Describe characteristics of the target markets that will affect product/service and pricing decisions.	Characteristics of target markets such as age, lifestyle, gender, geographic location, usage, and benefit greatly influence Walmart product and service pricing. It is these factors that are considered in deciding on the product and services prices.	Walmart website: Walmart.com
Describe how the company differentiates its product and positions its brand.	Walmart has achieved brand positioning in putting low prices and concentering on bulk sales that in return maximizes sales instead of overpricing goods. Walmart differentiation strategy is on the pricing aspect. All Walmart product are kept at low prices	Saxena, R. P., & Sharma, A. (2011). Everyday low price–a blessing in disguise for Walmart during recession. International Journal of Business and Globalisation, 7(4), 409-433.
Describe a consumer buying behavior model for this company and brand.	Walmart Company uses the economic model for consumer behavior. This models involves evaluating all the alternatives/options in relation to value and cost. This model takes into account the price effects, income effects and substitution effects.	Pioch, E., Gerhard, U., Fernie, J., & Arnold, S. J. (2009). Consumer acceptance and market success: Wal‐Mart in the UK and Germany. International Journal of Retail & Distribution Management.
Describe the product mix.	Walmart product mix focuses on the 4Ps. Product, Price, Place and promotion. The Company offers a variety of products in different categories with relatively lower prices as compared to other retailers. The Company observes strategic positioning both digitally and on physical location. Additionally, the company run frequent promotions in their stores worldwide.	Walmart website: Walmart.com
Describe the product lines.	Walmart operates in retail and wholesale business dealing with a variety of goods ranging from appliances, furniture, grocery, health goods, entertainment, apparel and hardline.	Walton, S., Penner, G., & McMillon, D. Walmart Inc.
Describe the service processes.	Walmart service processes are mostly carried out by the employees through employee customer interaction. Likewise, other customers buy goods online and Walmart arranges for fast delivery. The customers do self-service by picking the goods and check out.	Gillem, M. (2018, April). The Rule of Logistics: Walmart and the Architecture of Fulfillment. In Buildings & Landscapes: Journal of the Vernacular Architecture Forum (Vol. 25, No. 1, pp. 112-114). University of Minnesota Press.
Discuss physical evidence of service, service scape, and ambiance.	The physical evidence is in the design and layout of Walmart. The welcome banners are installed at the entrances of the hypermarkets. The service scape equally incorporates physical evidence and a conducive environment for services (ambience). Walmart has a cool environment with other stores playing soft music to impress customers.	Hoffman, K. D., & Bateson, J. E. (2016). Services marketing: concepts, strategies, & cases. Cengage learning.
Discuss the roles of company employees in service delivery.	Walmart employees mostly interact with customers and offer required information based on their enquiries. Equally, they offer packaging services and plan for deliveries to various destinations.	Walton, S., Penner, G., & McMillon, D. Walmart Inc.
Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.	The pricing objective of Walmart is to ever provide customers with affordable/low prices of goods. The objective is sales oriented as they maximize bulk sales instead of overpricing.	Schepers, B., & Koster, S. (2021). Walmart, Always Low Prices? (Doctoral dissertation).
Provide an example of current company pricing strategies.	Walmart uses competitive pricing strategy. This is done by ensuring low prices of goods as compared to other business entities.	Schepers, B., & Koster, S. (2021). Walmart, Always Low Prices? (Doctoral dissertation).
Describe pricing tactics (discounts, etc.) that are used to drive short-term demand	The Company uses the low cost method during short term demand. This in return promotes bulk sales. Likewise, the Company offers discounts during such times to enhance more sales. The main objective of these tactics is for brand building.	Schepers, B., & Koster, S. (2021). Walmart, Always Low Prices? (Doctoral dissertation).

Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company's marketing objectives and business needs.

Walmart main aim and objective is to provide affordable products to people worldwide. Doing so majorly in ways that support economic opportunities, sustainability of local communities and environment. In achieving its objectives through a marketing plan, the Company could look into better pricing strategies that are unbeatable by other competitor companies. The low cost pricing model works best as goods are sold in bulk. Consumer behavior is crucial aspect in any business. The Company could further explore market segmentation and prioritize customer needs. Types of market segmentation such as behavioral segmentation proves really important when it comes to market analysis. Therefore, the Company could look deeply into consumer behavior and have deeper insight in trends and patterns involved. Another vital aspect is target market features. The Company could further look into details the features of target markets based on income, age, lifestyle, taste and preferences, geographical locations and any other aspect that can influence sales in one way or another. Additionally, the physical service evidences could be vastly implemented across all the stress to help in impressing customers. Matters concerning ambience and service scape are critical in businesses and could be looked into further and better options adopted. Likewise, the role of employees could be enhanced and service delivery made better This could be done through analysis into the roles and service delivery strategies. Generally, when all these strategies are considered in a marketing plan, Walmart stands a better chance and position to attain its objectives and goals as planned.