AI ReportA

pdf

School

Kenyatta University *

*We aren’t endorsed by this school

Course

Subject

Marketing

Date

Nov 24, 2024

Type

pdf

Pages

Uploaded by Kamblossi

Wright College check ss rt Jena Graham Document Details Submission ID trn:oid:::1:2768530016 Submission Date Dec 1, 2023, 7:59 AM CST Download Date Dec 1, 2023, 8:00 AM CST File Name Final_Submission.docx File Size 42.2 KB 11 Pages 2,423 Words 15,746 Characters Page 1 of 13 - Cover Page Submission ID trn:oid:::1:2768530016 Page 1 of 13 - Cover Page Submission ID trn:oid:::1:2768530016

How much of this submission has been generated by AI? 0% of qualifying text in this submission has been determined to be generated by AI. Caution: Percentage may not indicate academic misconduct. Review required. It is essential to understand the limitations of AI detection before making decisions about a student's work. We encourage you to learn more about Turnitin's AI detection capabilities before using the tool. Frequently Asked Questions What does the percentage mean? The percentage shown in the AI writing detection indicator and in the AI writing report is the amount of qualifying text within the submission that Turnitin's AI writing detection model determines was generated by AI. Our testing has found that there is a higher incidence of false positives when the percentage is less than 20. In order to reduce the likelihood of misinterpretation, the AI indicator will display an asterisk for percentages less than 20 to call attention to the fact that the score is less reliable. However, the final decision on whether any misconduct has occurred rests with the reviewer/instructor. They should use the percentage as a means to start a formative conversation with their student and/or use it to examine the submitted assignment in greater detail according to their school's policies. How does Turnitin's indicator address false positives? Our model only processes qualifying text in the form of long-form writing. Long-form writing means individual sentences contained in paragraphs that make up a longer piece of written work, such as an essay, a dissertation, or an article, etc. Qualifying text that has been determined to be AI-generated will be highlighted blue on the submission text. Non-qualifying text, such as bullet points, annotated bibliographies, etc., will not be processed and can create disparity between the submission highlights and the percentage shown. What does 'qualifying text' mean? Sometimes false positives (incorrectly flagging human-written text as AI-generated), can include lists without a lot of structural variation, text that literally repeats itself, or text that has been paraphrased without developing new ideas. If our indicator shows a higher amount of AI writing in such text, we advise you to take that into consideration when looking at the percentage indicated. In a longer document with a mix of authentic writing and AI generated text, it can be difficult to exactly determine where the AI writing begins and original writing ends, but our model should give you a reliable guide to start conversations with the submitting student. Disclaimer Our AI writing assessment is designed to help educators identify text that might be prepared by a generative AI tool. Our AI writing assessment may not always be accurate (it may misidentify both human and AI-generated text) so it should not be used as the sole basis for adverse actions against a student. It takes further scrutiny and human judgment in conjunction with an organization's application of its specific academic policies to determine whether any academic misconduct has occurred. Page 2 of 13 - AI Writing Overview Submission ID trn:oid:::1:2768530016 Page 2 of 13 - AI Writing Overview Submission ID trn:oid:::1:2768530016

[Last Name] 1 [Your Name] [Instructor Name] [Course Number] [Date] Walmart Retailing Strategies: Analysis of Marketing Strategies, Pricing Dynamics, and Global Impact I. Introduction The retail industry is currently undergoing major changes, as seen in the recent closures of well-established companies like Sears, which has a history going back to 1893. These closures demonstrate the transformative forces that are impacting the retail market. In light of these industry changes, it is important to examine the survival strategies that contemporary retailers are employing. Walmart serves as an especially relevant example for study, as it has shown resilience in the face of industry transformations. An analysis of Walmart provides insights not only into a single company's adaptive capabilities, but potentially also into broader trends that are shaping the retail landscape overall. As a major player in the industry, Walmart's ability to endure and prosper amidst technological disruptions, shifting consumer behaviors, and global market dynamics makes it a compelling case study. The aim of this research is therefore to elucidate the various dimensions of Walmart's marketing strategies. This will contribute to a deeper understanding of today's complex retailing environment and provide beneficial insights for businesses navigating these challenges. The importance lies in extrapolating insights from Walmart that may reveal patterns applicable across retail. II. Background Established in 1962 in Rogers, Arkansas by Sam Walton, Walmart began as a single discount store and has since grown into a global retail giant. Walton was committed to providing Page 3 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 3 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

[Last Name] 2 customers low prices and great value. Walmart expanded swiftly, marked by milestones like the opening of its first Walmart Supercenter in 1988, integrating a full grocery store with the discount store model (Basker 177). Over the years, the company widened its domestic and international footprint, entering diverse markets. However, Walmart’s history is not merely one of expansion, but also of adaptability in response to a changing retail landscape. The company weathered challenges by adjusting its strategies to incorporate emerging technologies, shifts in consumer preferences, and the e- commerce revolution. Noteworthy is Walmart’s early recognition of e-commerce potential, leading it to launch walmart.com in 2000 (Basker 182). Despite setbacks in certain international ventures like Germany, a focus on adaptation and strategic realignment remained pivotal. Thus, while Walmart’s concise history underscores its remarkable growth in retail, examining its adaptive measures over time is imperative to understanding its sustained leadership in an evolving industry. III. Product Life Cycle in Retailing When contrasting traditional retailers that are struggling, like the recently closed Sears and Kmart, to the ongoing success of Walmart, distinct parallels emerge that shed light on the intricate dynamics within the retail industry (Jens et al. 264). Traditional retailers, anchored in conventional brick-and-mortar models, often wrestle with challenges brought on by the rise of e- commerce and shifts in what consumers want. Retailers like Sears, with history stretching back to the late 1800s, have found it difficult to swiftly adapt to the digital era . An inability to resonate with modern consumer demands has exacerbated declines (Meyer 13). On the other hand, Walmart, a stalwart in retail, has shown a capacity to adapt by integrating omnichannel approaches that blend physical and online retail seamlessly (von Briel 221). The demise of traditional retailers is frequently tied to ineffectively navigating this transition. Walmart’s Page 4 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 4 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 3 prosperity is not solely due to its substantial purchasing power, but also stems from adeptly leveraging technology, efficient logistics, and strategic supplier partnerships. Whereas traditional retailers typically grapple with outdated infrastructure and inefficient supply chains, Walmart utilizes its extensive resources to invest in innovative technologies, like in-store solar panels, improving operational efficiency (von Briel 218) . Additionally, Walmart’s strategic positioning as a mass merchandiser emphasising low prices has aligned with contemporary consumer expectations, conferring a competitive edge. Therefore, the divergence between declining traditional retailers and successf ul companies like Walmart hinges on the latter’s proactive adaptation to the developing retail landscape. This is typified by Walmart’s astute integration of technology, omnichannel tactics, and commitment to satisfying the changing demands of modern consumers. The inability to adapt swiftly to the digital shift and resonate with evolving consumer preferences has conversely contributed to the struggles of conventional brick-and-mortar retailers. The concept of the retailing life cycle offers a useful lens for understanding the evolution and trajectories of different retail companies. Similar to the product life cycle, retail entities pass through distinct stages including introduction, growth, maturity, and decline. Traditional retailers such as Sears and Kmart, which are experiencing closures, exemplify the decline phase, struggling to stay relevant. In contrast, successful modern retailers like Walmart represent the growth and maturity phases, adapting to changing consumer behavior and technological innovations (Liu et al. 73). Applying the retailing life cycle framework illuminates the dynamic retail industry, highlighting the critical need for adaptability to avoid obsolescence. As consumer preferences shift and technology transforms shopping paradigms, retailers must strategically position themselves within this life cycle to prosper in a constantly evolving marketplace. The Page 5 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 5 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 4 framework elucidates why some retailers like Walmart continue growing and maturing amid industry fluctuations, while others like Sears and Kmart confront decline without adapting successfully to new consumer demands and tech-driven disruption. IV. Walmart's Business Model Walmart utilizes a multifaceted business model that strategically integrates both traditional and modern retail approaches. Central to its strategy is an omni-channel framework that smoothly blends physical and online shopping. This "bricks-and-clicks" model refers to the harmonious coexistence of brick-and-mortar stores with digital platforms, fostering a comprehensive retail ecosystem for consumers. Walmart's vast physical store network serves as important customer touchpoints, delivering tangible experiences and immediacy, while its robust online presence through sites like Walmart.com offers accessibility and convenience (Liu et al. 77). This omni-channel approach not only caters to diverse consumer preferences, but also synergizes the strengths of both realms, bolstering Walmart's market foothold. Integrating technology plays a key role, enabling services like online ordering with in-store pickup that enhance customer convenience. Walmart's commitment to this dual brick-and-mortar and digital strategy demonstrates a nuanced grasp of today's retail landscape, where success relies on adaptability and strategically fusing traditional and online retail channels. It reflects an understanding that consumers expect both physical and virtual shopping experiences. Walmart's target market is defined by its vast scope, aiming to appeal to a broad range of consumers across demographics and socioeconomic backgrounds. The retail giant strategically positions itself as a mass merchandiser, primarily focused on providing affordable products and services. Walmart's core customer base comprises value-conscious shoppers seeking budget- friendly purchases (Micić et al. 40). Its extensive product range, spanning groceries, electronics, Page 6 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 6 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

[Last Name] 5 apparel, and more, reflects an intention to meet the varied needs of families and individuals. The affordability emphasis aligns with a target market that prioritizes reasonably priced shopping without sacrificing quality. Analysis of Walmart’s target market also unveils a deliberate outreach to rural and suburban areas where stores are often physically located (Micić et al. 32). Walmart serves communities that may have constrained access to other shopping options. Additionally, the company’s omnichannel model, integrating brick -and-mortar and online presences, reflects adaptability that resonates with tech-savvy consumers wanting convenience (Liu et al. 77). V. Pricing Strategy Walmart’s unmatched success in retail is intricately linked to its foundational low price strategy. This pricing approach aligns with the company’s mission to deliver value to a wide customer base. By leveraging immense purchasing power, Walmart negotiates beneficial terms with suppliers, enabling the passing of cost savings to shoppers. The low prices attract value- conscious consumers, building loyalty and cementing Walmart as a go-to affordable shopping destination. The Everyday Low Price (EDLP) model, pioneered by Walmart, simplifies the experience by eliminating the need for promotions while boosting operational efficiency through streamlined inventory management (Bahremand et al.). As such, the EDLP approach serves as a core strategy, allowing Walmart to provide consistency, affordability and efficiency to price- sensitive shoppers. However, the long- term sustainability of Walmart’s low pricing approach is subject to ongoing examination. While the EDLP model has been in tegral to Walmart’s prosperity, challenges emerge as the retail landscape transforms. Recent observations indicate Walmart’s pricing focus may be gradually shifting, with considerations beyond just cost-cutting arising. Page 7 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 7 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 6 Sustaining the low price strategy depends on maintaining competitiveness while adapting to evolving market dynamics. Factors like rising operating costs, the need for continuous technology investments, and the advent of e-commerce rivals necessitate a nuanced re-evaluation of Walmart’s prici ng paradigm. To bolster the viability of its pricing approach, Walmart has diversified offerings through private label brands, conferring more supply chain and cost control. Additionally, initiatives like enhanced supplier training, improved logistics, and strategic promotions help preserve a competitive edge (Gu and Liang 9). As Walmart navigates complex market forces, the continued success of its low pricing hinges not solely on efficiency but on the agility to innovate and meet changing consumer expectations. This ensures Walmart remains a stalwart as the retail landscape transforms. The pricing strategy must balance maintaining affordability with adjusting to shifts in the market and consumer needs to sustain itself moving forward. VI. Factors Contributing to Low Pricing Apart from its substantial purchasing power, several key operational strategies enable Walmart to uphold low prices. Most notably, the company has established an extremely streamlined and efficient distribution network. Walmart’s supply c hain is a logistics marvel, leveraging advanced technologies to optimize inventory, shorten lead times, and minimize costs. This logistical prowess lets Walmart exploit economies of scale for greater cost-effectiveness. Additionally, the retailer heavily invests in supplier training programs to promote collaboration and efficiency within its vast supplier ecosystem (Gu and Liang 2). This alignment ensures suppliers adhere to Walmart’s commitment to cost efficiency, quality, and timely delivery. Promotions a lso play a strategic role in Walmart’s pricing approach. Despite renown for its EDLP model, the company tactically utilizes promotions to drive sales and attract shoppers, Page 8 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 8 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 7 balancing competitive base pricing with promotional incentives. Moreover, Walmart’s ability to undermine competitors through strategic pricing and operational efficiency has been integral to its enduring success (Gu and Liang 8-9). Thus, Walmart not only captures market share but also poses challenges for rivals trying to match or beat its pricing. This elimination of competition encompasses partnerships, acquisitions, and innovative initiatives that reinforce Walmart’s retail dominance. VIII. Marketing and Advertising Walmart’s advertising approaches have changed significantly over time, dynamically responding to shifting consumer landscapes and emerging media. Initially, Walmart’s advertising centered on conventional platforms like television, radio, and print, stressing product affordability and its commitment to customer value. However, the digital transformation provoked a paradigm shift in its advertising methodology. Integrating online platforms and social media became pivotal, enabling engagement with wider audiences and leveraging the immediacy of digital channels. One unique facet of Walmart’s advertising tactic is utilizing employees as product models. This serves multiple aims, fostering relatability and authenticity. By featuring staff as models, Walmart not only showcases workforce diversity but conveys a narrative of individuals who comprehend and endorse the products represented. This aligns with contemporary preferences for authenticity and brands that resonate, improving perceptions. Moreover, this approach constitutes employer branding efforts, underscoring Walmart’s dedicat ion to its staff. Currently, Walmart has expanded its reach through omnichannel campaigns fusing traditional and digital advertising (von Briel 221). The focus stays on highlighting affordability and accessibility of products, resonating with its diverse target demographic. Walmart has adeptly Page 9 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 9 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

[Last Name] 8 adopted storytelling in ads, framing narratives that accentuate customers’ everyday requirements and Walmart’s role in fulfilling those needs. The strategy shift reflects recognition that consumers expect engaging brand stories across both traditional and digital media. X. Long-term Strategy and Global Expansion Walmart’s long -term approach combines domestic dominance with a vast global footprint. The company strategically prioritizes low pricing, operational efficiency, and technology adoption to reinforce its competitive advantage. Domestically, Walmart retains its mass merchandiser status, serving a wide customer base by continuously refining its supply chain and investing in tech innovations. Concurrently, its international operations across numerous countries boost overall resilience. Through tailoring its model to diverse cultural and economic contexts, Walmart penetrates international markets, expanding revenue streams. Financially, the company demonstrates robust health, with steady revenue growth and profitability. Its annual reports reveal substantial investments in tech, supply chain upgrades, and sustainability efforts, showing commitment to long-term viability. Expert opinions largely commend Walmart’s strat egic emphasis on global expansion and technology, acknowledging its ability to navigate complex market forces. Walmart’s success is attributed to adaptability, leveraging economies of scale, and addressing varied consumer needs. XI. Conclusion In summary, analyzing Walmart’s marketing and retailing strategies offers valuable perspectives into the company’s adaptive abilities within a transforming retail landscape. Walmart’s resilience is highlighted by its strategic evolution over time, navigati ng challenges and capitalizing on opportunities to maintain leadership. The study contrasts declining retailers like Sears and Kmart with Walmart’s prosperity, emphasizing adaptation’s critical role amidst Page 10 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 10 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 9 technological and consumer preference disruptions. Walmart’s strategic integration of technology, omnichannel approaches, and low price commitment has been instrumental in sustaining its competitive edge. The retailer tactically appeals to a broad target demographic, positioning itself as an affordable mass merchandiser. The examination considers factors beyond purchasing power affecting the viability of Walmart’s low pricing approach, including logistics, supplier training and promotions. Extensive technology utilization, from data analytics to solar syst ems, boosts efficiency and underscores Walmart’s commitment to sustainability. Its long - term strategy, encompassing domestic and global dimensions, reinforces adaptability and resilience. Robust fiscal health, consistent revenue expansion, and strategic investments highlight Walmart’s dedication to long -term success. Page 11 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 11 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

[Last Name] 10 Works Cited Bahremand, Mehrdad, et al. “A Multiobjective Pricing Model in Omnichannel Retailing with Emphasis on State Interventions.” IEEE Access , vol. 10, 2022, pp. 49184 – 97, https://doi.org/10.1109/access.2022.3172317. Accessed 16 Aug. 2022. Basker, Emek. “The Causes and Consequences of Wal - Mart’s Growth.” SSRN Electronic Journal , vol. 21, no. 3, 2007, https://doi.org/10.2139/ssrn.950882. Gu, Li, and Guitian Liang. “The Effect of Bank Fina ncing under Supply Chain-To-Chain Competition.” Mathematical Problems in Engineering , edited by Arunava Majumder, vol. 2022, Nov. 2022, pp. 1 – 15, https://doi.org/10.1155/2022/8575338. Accessed 14 Feb. 2023. Jens, William, et al. “Can Charging Sales Taxes o n Internet Sales Save Brick-And-Mortar Stores?” SSRN Electronic Journal , 2020, https://doi.org/10.2139/ssrn.3625647. Accessed 19 July 2020. Liu, Zhuo, et al. “Analysis on Business Model of Chinese Retail Industry in the Post -Pandemic Era: Case Study of Wal mart and Freshippo.” Journal of Education, Humanities and Social Sciences , vol. 2, July 2022, pp. 70 – 77, https://doi.org/10.54097/ehss.v2i.765. Meyer, Robert. “Reflections on ‘Transformative Marketing: The next 20 Years.’” Journal of Marketing , vol. 82, no. 4, July 2018, pp. 13 – 14, https://doi.org/10.1509/jm.82.42. Micić, Radmila, et al. “Social Responsibility in Modern Trade Companies with Reference to the Walmart Trade Chain.” Oditor , vol. 8, no. 1, 2022, pp. 37 – 62, https://doi.org/10.5937/oditor2201036m. Accessed 2 May 2022. Page 12 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 12 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

[Last Name] 11 von Briel, Frederik. “The Future of Omnichannel Retail: A Four - Stage Delphi Study.” Technological Forecasting and Social Change , vol. 132, July 2018, pp. 217 – 29, https://doi.org/10.1016/j.techfore.2018.02.004. Page 13 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016 Page 13 of 13 - AI Writing Submission Submission ID trn:oid:::1:2768530016

AI ReportA

Related Documents