Elevator Pitch BUS 400

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Southern New Hampshire University *

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400

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Marketing

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May 28, 2024

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3-2 Milestone One Elevator Pitch Outline 1 3-2 Milestone One Elevator Pitch Sarah Redford May 25, 2024 Arielle Wolfe Southern New Hampshire University

3-2 Milestone One Elevator Pitch Outline 2 Product Assortment and Planning Walmart is a large corporation and is known for its broad range for goods and services. In order to improve service quality as well as leadership, the company needs to optimize its product assortment approach. This will improve Walmart’s product assortment planning which would help carefully select quantities of products for customers. The overall goal will be to personalize shopping for customers so that sales and profits grow. The program would support Walmart’s promise to continue developments as well as customer satisfaction in the changing in the retail markets. Goals  To simplify as well as improve product selections that are offered at each Walmart store either in person or online.  In order to accomplish this, we need to provide a large, well selected range of items that are personalized for the requirements for the targeted audience.  Adjusting the always changing economic conditions and be able to improve the overall financial performance. Target Customer The focused customer base for this project is wide and varied. This also includes customers that have different interests and demands. Walmart understands that it has to change with the varied customers and the product range. Budget Conscious Consumers

3-2 Milestone One Elevator Pitch Outline 3 Walmart is widely known for its inexpensive daily items. Walmart aims to make shopping on a budget better for families and individuals. Value shoppers like to see a broad selection of items at a lower cost. Walmart’s goal is to continue to stay as the budget friendly store and to be the customers’ first option by continuing to refine its products range. Families Families that are searching for a one stop shopping place have found that Walmart is just that place for that. Families are able to trust Walmart in order satisfy all their food, household, clothing, and other purchases. This initiative understands the importance of making sure families are taken care of by offering a large range or products to choose from to make shopping easier. Tech-Savvy Shoppers Shoppers who enjoy shopping with the click of a button or in the comfort of their own environment enjoy the ease and innovation of the digital world. Walmart’s GoLocal drone delivery, online shopping and Walmart curbside for alternative attempts to attract this sector. The tech-savvy client base grows smooth digital interactions. The initiative also helps keep Walmart ahead of it’s ever changing expectations. Value and Quality Seekers A big part of the market buys value and quality. Walmart prioritizes high quality and affordable items in the assortment strategy. By creating an inventory that meets customers value and quality needs, Walmart is able to attract more customers with these needs. Walmart’s product assortment planning tries to make a shopping environment that every customer is able to find items that meet their individual demands by making sure it’s

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3-2 Milestone One Elevator Pitch Outline 4 addressed. Inclusivity helps boosts sales, overall happiness for each customer, and market competition. Walmart’s success in retail is primarily based on making sure there is a large selection of items for customers. Market Opportunity Walmart’s worldwide reach and large customer base helps make this project’s market appealing. There are many things that make this opportunity important. Being able to shop online and having the drone delivery system are in a high demand for customers. Changing consumer patterns, spurred by COVID-19, have exacerbated this tendency (Alwan et al., 2023). With the expanding demands and retail technology offered with the GoLocal drone service, Walmart is able to address the growing demands. With customers needs and economic changes this makes the retail industry more dynamic. Walmart’s success depends on it’s ability to change quickly. With this initiative, Walmart is able to adjust to the market changes and keep it’s current attraction to the varied client base. Walmart has an advantage when it comes to a competitive industry that is conquered by e- commerce companies for its large retail network. With Walmart still incorporating physical places, they are able to still engage with customers while providing convenience. Walmart is strong because it competes with e-commerce titans while using its physical presence (Alwan et al., 2023). Maximizing product selection while being able to adapt to the customer groups helps attract new customers and keep existing customers. Walmart is able to increase the customer loyalty and stand out within the competitive market by streamlining and personalizing purchases. Financial Opportunity

3-2 Milestone One Elevator Pitch Outline 5 The initiative gives Walmart many revenue potentials. Walmart will be able to boost sales by adapting its product range to meet the customers requirements. This strategy will increase sales as well as maintain growth. This initiative also improves reducing waste as well as improving inventory management. By reducing overstocking and product obsolescence, Walmart can save expenses and boost profits (Walmart, 2022). Having a good product range can easily help increase customer loyalty and repeat business. Happy consumers who discover what they need are more likely to purchase at Walmart again, providing a consistent cash stream (McLymore et al., 2022). Timeline Phase 2 (Months 4-6): Survey client preferences, marketing trends, and economic circumstances. Using the insights to improve product variety. Phase 2: (4-6 Months): RFID pricing engine and electronic shelf labeling will help lessen the product waste and increase price transparency. Phase 3 (Months 7-12): Launch GoLocal drone delivery for small and large companies with ideal product assortment. Phase 4 (13-18 Months): Use real-time data and customer input to expand product selection. Walmart can react to market situations while saving financial strength and

3-2 Milestone One Elevator Pitch Outline 6 consumer preferences while using this timeline's advanced, data-driven approach to change. References Alwan, S. Y., Hu, Y., Al Asbahi, A. A. M. H., Al Harazi, Y. K., & Al Harazi, A. K. (2023). Sustainable and resilient e-commerce under COVID-19 pandemic: a hybrid grey decision- making approach. Environmental Science and Pollution Research, 30, 47328–47348. https://doi.org/10.1007/s11356-023-25456-0 McLymore, A., Cavale, S., & McLymore, A. (2022, August 11). Focus: Inflation steers budget shoppers away from Walmart. Bringing them back may not be easy. Reuters. https://www.reuters.com/business/retail-consumer/walmarts-long-lasting-challenge-luring- budget-shoppers-back-its-stores-2022-08-11/ Staff, S. (2023). Walmart attracts budget-conscious customers, and remains strong in Q2. In Business Madison. https://www.ibmadison.com/walmart-attracts-budget-conscious- customers-remains-strong-in-q2/ Van Loo, R., & Aggarwal, N. (2023). Amazon’s Pricing Paradox. Social Science Research Network. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4436546

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3-2 Milestone One Elevator Pitch Outline 7 Walmart. (2022). Purpose. Corporate - US. https://corporate.walmart.com/purpose

Elevator Pitch BUS 400

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