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Marketing Plan of Wallmart entering Germany (Product being the store) - Term Paper Example

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Marketing Plan of Wallmart entering Germany (Product being the store)

In the previous fiscal 2010, with sales of $405billion, the company employed 2.1 million associates worldwide. The Fortune Magazine 2010 has ranked Wal-Mart among the top 10 retailers in the world. Wal-Mart goal is to save the money of its customers and help them live better (Wal-Mart, n.d). Wal-mart has its retail stores across the country, thus this paper deals with the expansion strategy of Wal-Mart in Germany. The retail market in Germany has reported to fall unexpectedly by 2.33% in September 2010; but the German retail market has experienced a recovery from the crises in 2010 and generating revenue of 400billion EUR (PRLog, 2011). Thus Wal-Mart can take this opportunity as its competitive advantage lies in low cost pricing and thus expand itself in Germany. Internationalization Wal-Mart draws its competitive advantage from the aspect of its unique supply chain management strategy using advanced technological tools like Enterprise Resource Planning. The supply chain management strategy of the company such as cross docking and real time information sharing between suppliers is used to forecast demand on the basis of real time data that is further used to manage the inventory carrying costs. Use of real time information sharing enables the company to eliminate instances of overstocking or stock outs that helps in managing inventory carrying costs. The cross docking system initiated by the company also ensures that inventory is not stored and there is no standing time. The cost savings incurred due to inventory management is passed on to the customers in the form of an EDLP (Every Day Low Price) strategy where the company provides services at low prices that helps in attracting and retaining customers (Dess, Lumpkin & Eisner, 2009, p.180). The role of the external environment is also another aspect that determines the success of the international expansion program of a company. In case of Wal-Mart the level of technological expertise in a market is also important as suppliers need to be linked to its supply chain management. Germany being a technologically developed nation would easily help Wal-Mart to supplement its core competence in supply chain management so as to replicate its successful EDLP program in the German market. Wal-Mart would essentially use a push-pull strategy to gain a formidable presence in the German market. A push-pull strategy is essentially used by firms when they have a system of forecasting demand on the basis of real time information sharing. In the German market the technology driven supply chain management would of Wal-Mart and its EDLP program would help in pushing the products to the consumers (push strategy) while the external market demand of the service of the company among the members of the target market audience would act as a pulling factor of bringing in the consumers (pull strategy). Traditionally, retail firms have been relying on push based strategies as a pull strategy involves considerable ...Show more

Summary

Marketing Plan of Wal-Mart entering Germany Contents Marketing Plan of Wal-Mart entering Germany 1 Contents 2 Introduction 5 Internationalization 5 Market screening and selection process 7 Target market (Germany) 7 Porters Five Force Model 8 Supplier Power 8 Buyer Power 9 Threat of substitute 9 Threat of new entrant 9 Rivalry 9 SWOT Analysis 10 Strength 10 Weakness 10 Opportunity 10 Threat 11 Target market 11 Consumer analysis 11 Cultural analysis 12 Segmentation targeting and positioning (demo and geographic) 12 Entry mode strategies 13 Target market strategies 14 Marketing mix 15 Product 15 Price 16 Place 16 Promotions 16 People 17 Process 17 Physical Evidence 18 Measures for monitoring pro…
Author : dwalter
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