Marketing research 3

MR. Walton started Wal-Mart in 1962. The familiarity started as a gimcrack charge alternative store because Mr. Walton adopted the price- moorage or cost cutting by charge costs down. It was a man who liked to play down costs. He liked local investments and this was through with(p) by giving al near of his staff stock options and he encouraged them to invest in the company. Walmart grew technologically ahead of its competitors because they were in fact one of the first stores to use reckoner to keep track of their products and stocks.They also used computer to concern stores, wargonhouses and this is done up to date. In fact, Walmart has a variety of stores, warehouses that make water standard trade in that is sold at lower prices with lower margin and superiorer volumes. This includes bank discount retailing in roughly of their stores which is mostly used in superfluously stores like their discounting grievouss stores.Wal-Mart has lay its stores around major citie s and managed its selling channels well. They have used strategic castning and advanced information system to link their departmental stores and warehouses around major towns and this is boosted by the use of sophisticated marketing tools. Walmart majorly is a low price strategy firm and it has priced its products lower that most of its competitors but however, a research done in 2004 indicated that most large number in the US were alarmed by an article that articulated the richly cost of low price.This led to negative publicity of Walmart as most of its customers began to be cautious about its low prices but on the separate end, Walmart is actually pick uping to reach to the tougher market of lower income earners. It also uses strategies of cogency due to good distribution network. The Walmart stores feature a broad follow but have low value added and focus on keeping prices low and are perceived to be having a good chaw especially to low income earners and they depend maj orly on in purchase of goods in large volumes.To attract customers Walmart use various promotional tools to generate work and purchases. Most of us have seen adverts both on TV and online placed by Walmart, they run special sales and issue coupons. Most of the shit shoppers at Walmart are also rewarded to encourage frequent purchases. Walmart also runs special page adverts and magazines to remind customers on their existence.They are also careful to adopt locations because customers who like money saving be intimates will look for stores that are nearest. They plan carefully before choosing on the sites to open outlets. Walmart also has gone a step further to provide one stop shopping where they intermingle grocery items with huge option of non-food merchandise.When we compare it with Nordshoms that was started in 1901 as a tog store by John v. Nordshoms. In Washington, the latter is a rather different type of store as it is a departmental store where we have several products lines i.e. in the case of Walmart we have robes products, shoes, handbags, gift hampers and in which case each product line is disjointed and operated as a separate department and managed by specialized buyers or merchandisers.Nordshoms unlike Walmart has its goods priced highly but they insist on flavour, value, trust and selection unlike Walmart that depend on volume purchase and search for good deals. It also uses the product expansion strategy because it started as a shoe company but later it has expanded to include clothing and early(a) products managed separately like cars and car parts accessories for women. It has also differentiated its products into segments as we have children clothes, women and men.This is a part of individual marketing where they do non look at customers as a group but deal with them individually. They hold customers by offering convenient locations, special or unusual assortment of goods, great services, better quality goods and better services than competitors. They also have included other brands i.e. they purchased best apparels a clothes company and ventured to clothes market.Because most customers complain that their prices are high, they have embarked on safe expansion and have opened many stores in major cities. This is to areas where incomes are high. Nordshoms use direct mails as promotion tools and telemarketing where they use foretell calls to attract new customers. They also contact existing customers to ascertain comfort levels.They also run adverts on the levels where clients can log on to and try clothes online. Apart from visiting the stores clients also would like to see how the clothes look like, online marketing is also very important. They also adopt record marketing where they mail one or more product catalogues to selected addresses to inveigle more customers, all this will stimulate quicker or great purchase of particular products. They have adopted psychological prices where they use price as an indicator of quality. High priced goods are preferred to have high quality especially where alternative information about true quality is not available.REFERENCESArmstrong G. & Kotler P. (2007). Consumer Markets Influences on consumer behavior, Principles of Marketing. Kotler, P. (2005) Principles of Marketing. New York.Melbourne Press Schaik J.L., (2002) The Task of Marketing instruction J.L. van Schaik (Pity) ltdWiner, R.S. (2007). Marketing Management, Prentice Hall, Upper Saddle River, NJ.