A Review Of Marketing Strategy Of Wal Mart Marketing Essay

A Review Of Marketing Strategy Of Wal Mart Marketing Essay Marketing creates strong value addition in the organizational operations and revenues of companies increase remarkably by adopting latest marketing tools and trends. Demand of organizational goods and services is created by using marketing communication means. Marketing is important department of a company just like research and development, accounting, finance, and manufacturing. Chief executive officers have recognized the needs and importance of marketing activities so they appoint dedicated brand managers to promote individual brands. Particularly, CEOs appoint chief marketing officers having equal designation of chief operating officers and chief financial officers. Senior management of companies dedicate substantial resources to enhance value chain in organizational resource management, robust brand management, optimum utilization of resources and creating strong base of loyal customers (Kotler apparel and jewellery, baby care, electronics, home decor, furniture, groceries, h ealth and beauty, music and books, movie, photo, outdoor living, medicines, sports and fitness, toys and video games (Walmart, 2010). Wal-Mart focuses on various procedures to maintain its low cost strategy that is based on various sources. Wal-Mart does not base its supplies to an individual larger supplier but it adopts larger supplier base. By decreasing share of a single supplier in its inventory it manages to strengthen the bargaining power. It has a continuous focus on reducing costs through improvement in inventory control system and logistics system (McPhail, 2006). Likewise, Wal-Mart is determined to develop efficiency and output of its employees. Wal-Mart has positioned its products in market by adopting cost leadership strategy. Wal-Mart has ensured its success due to its lower prices. Thus, low cost leadership strategy is brand recognition of Wal-Mart and consequently serves as effective tool of organization. Wal-Mart adopts various TV ads at its discount or stores to pr omote and sustain its brand. Wal-Mart organization is selected being the leader in supermarket chain in order to evaluate its marketing effectiveness on the achievement of organizational objectives. Contrary to the Wal-Mart, Tesco the competitor of Wal-Mart is chosen for the sake of comparative purpose.