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Global Marketing - strategy and practive - Essay Example
Pages 14 (3514 words)
MARKET ENTRY PLAN FOR WALMART Author March 18, 2012 I. INTRODUCTION By definition, a market expansion strategy is a growth strategy in which an organization targets existing products to a new market. This is what exactly Walmart aims to do with its market entry plans for Australia…
Its first foray into the international market was in the early 90s, when it entered into a joint venture with Mexico’s largest retailer Cifra to operate Sam’s Club. This move was to be considered its most successful entry into foreign trade, having conquered the Mexican market and contributing approximately 30% of all food sales in the local market (Walmart in Mexico 2012). To date, it has not really matched its tremendous success in Mexico. Walmart now has global presence in Mexico, Germany, China and the United Kingdom, among others. It has 5,651 stores and approximately 780,000 associates in 26 countries outside the continental US (Walmart Corporate 2012). It has acquired stores, co-branded or actually brought the Walmart brands into these new locations. However, its market entry strategy has always been perceived as weak, primarily because the company has applied the same market entry strategies in majority of the locations it ventured into. Management failed to take into consider the idiosyncrasies of each country that the company has tried to penetrate, and understand the unique market needs within each culture and social setup per location (This is not America. Why Walmart left Germany 2012). ...
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