Business Activities and Decisions Related to the Marketing Management Function - Article Example

?Identify and examine the most current and significant business activities and decisions as related to the marketing management function. Short Overview of Article Basically, the articles seek to trumpet the fact that Wal-Mart Express will be opening new market stores in specific destination, common among which is Chicago. In this direction, Wohl (2011) reports that “Wal-Mart Stores Inc is opening its first small store in Chicago on Wednesday as it tests a format it hopes will allow it to penetrate urban markets that have resisted its huge stores” whereas under a different title and on a different day, Wohl (2011) again reports of the same issue that “Wal-Mart Stores Inc is opening its first small store in Chicago this week in the first true test of a store format the world's largest retailer hopes will let it penetrate urban markets that it so far has had trouble cracking.” A critical exposition of the two reports, which happened to be the opening lines of the reporter shows that though there were differences in the choice of words and titles for the two articles, they all carried one theme, which was about the fact that Wal-Mart Express was undertaking a venture of opening new stores in Chicago that very year. When reported by a pretty new reporter, the theme remained the same and the choice of words were almost not different as the new reporter, (Jones, 2011) wrote in her opening lines that “The nation's first urban Wal-Mart Express is slated to open Wednesday on Chicago's South Side, part of a test that Wal-Mart Stores Inc.” Reading further, the reasons for the company’s decision to start stores in Chicago and other related destinations is given as that the company had long depended on foreign branches to fuel her revenue generation and that it now wanted to accrue some wealth right from home. To whom does Article Address The subject of the articles makes it clear that the targeted audience for the articles is the buying public, who has needs of items and materials that the company deals in. This is because as stated earlier, Jones (2011) reports that the company now wants to shift her attention; as far as sources of revenue are concerned from foreign stores to domestic stores. To this effect, these articles have been put up to be a form of publicity and advertisement for the company. It is not surprising therefore that a tactic was adopted to report the same theme in three different ways and through three different avenues. As far as marketing is concerned, Koduah (2009) notes that companies should not count expenditure put in advertisement and publicity as waste because they are the best medium to raise incomes for the companies. To this effect, very little can be said against the approach adopted by the company to market its’ self to the general buying public. By the general buying public, reference is being made of all people who at one point in time or the other go to any shop to trade in goods; especially those that Wal-Mart trades in. this assertion is confirmed by Wohl (2011) who states that “the chain is trying to win back shoppers, especially those on limited budgets, who have started to do more of their shopping at chains.” This means that indeed the target group who were addressed by the articles was shoppers, especially those who had traded with other branches of the company elsewhere. Marketing Concepts Used Because the articles have been identified to be more of an advertising and publicity oriented one, it is important that the articles be made up concepts and terminologies that has to do with marketing or that has marketing background. This is because all acts of advertisement and publicity are marketing practices (Bush, 2010). Careful considerations of the articles bring out some interesting marketing concepts. Firstly, there is the concept of target market, which is clearly defined as shoppers: with specific emphasis on former shoppers of Wal-Mart. Secondly, there is the concept of competitive advantage, where Wal-Mart is tagged by the reporter, Wohl (2011) as “the world's largest retailer”. Such tags of competitive advantage in marketing report go a long way to convincing target groups and potential customers that any decision taken by them to do business with the company in question would be a decision wisely taken as they would be joining an already booming market force. Again, the concept of market research is used. This is seen in the part of the report where the reporter gives clear reasons why Chicago and three other destinations were picked to start up the new stores. In the words of the reporter, “Four more Walmart Express stores are planned for Chicago, along with three larger Walmart Market stores, which are more like traditional grocery stores, and two more Walmart supercenters” (Wohl, 2011). Such planning that was made for Chicago could clearly be linked to market research. Finally, there is the concept of market strategy whereby readers are told of how the company seeks to rise above the competition that already exists in the market. Course of Action in Article The Free Dictionary Online (2011) explains as course of action as “a possible plan open to an individual or commander that would accomplish, or is related to the accomplishment of the mission.” To this effect, the course of action in the article is supposed to be any laid down procedure that the reporters gave with reference to how the company is going to implement her plan of opening new branches in Chicago and other designated centers. From Jones (2011), it could be seen that the company has adopted a defined format that is going to be used in the implementation of the company’s vision. As part of the format, “the new convenience format is aimed at staving off the rise of dollar stores” (Jones, 2011). Again, the company plans of “putting pharmacies in some stores and experimenting with adding gas stations” (Jones, 2011). Furthermore, “The chain is trying to win back shoppers, especially those on limited budgets, who have started to do more of their shopping at chains such as Family Dollar Stores Inc that pack a variety of food and basic goods into small shops” (Wohl, 2011). Finally, “Wal-Mart is starting to buy more from local companies, a move that highlights its environmental efforts and cuts down on distribution costs” (Wohl, 2011). These are all courses of action, which the company believes would go very long ways to helping the company realize her dream of becoming a very strong market force. Personal Course of Action Without refuting the company’s own course of action as it appears in the article, I am of the view that the following procedures could be integrated to the company’s course of action to make it more consolidating and achieving. These procedures are: 1. Integrating old staff from existing branches to the new stores to continue the organizational culture of the company. 2. Undertaking as many social intervention programs as possible to win the hearts of the ordinary citizenry. 3. Expanding the company’s area of operation to include new ventures that otherwise did not exist in fomer Wal-Mart stores 4. Introducing mobile shopping whereby items will be delivered at the door post of customers 5. Taking advantage of modern technology to go into electronic business. With these plans in place, the company has the potential of accomplishing her mission of becoming the strongest force to reckon with in the stores industry. REFERENCE LIST Bush, Enoch. Advertisement as a Marketing Practice. Washington D.C: Ultimate Publishing Company, 2010 Koduah, Issifu. Investing in Companies: Doing this through Advertisement. Kumasi: PrintMark Group Limited, 2009 Sandra, M. Jones. “Chicago's first of 5 expected Walmart Express locations to open Wednesday.” Chicago Tribune. 27 July 2011. 2 August 2011 Wohl, Jessica. “Walmart Express debuting in Chicago on Wednesday.” Chicago Tribune. 27 July 2011. 2 August 2011 Wohl, Jessica. “Walmart Express hits Chicago.” Chicago Tribune. 27 July 2011. 2 August 2011 “Course of Action.” Free Dictionary. 2011. 2 August 2011 Read More