Contemporary Marketing Challenges : Assignment
Added on 2020-09-03
12 Pages3662 Words128 Views
Business DevelopmentMarketing
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Contemporary MarketingChallenges
INTRODUCTIONBusiness market is comprised of many new things and innovations which are helpful inoverall development of business. Management have to consider such approaches which facilitategrowth and over all development through which an organisation will become able to gainsustainability. But, there are many marketing challenges are determining which affect and madeimpact on an entity (Bharwani and Butt, 2012). Hence, it is a duty of managers and leaders toevaluate all such facts and things and take adequate steps for overcoming from them. For thisproject, there are mainly two concepts are identifying which are related with critical marketingproblems and issues. One of a topic is related with human organ in which selling of humanorgans is a controversial fact and many people take their own will money for the body parts.Thus, this stated as problem because number of human organs donor are identically find out.Hence, several steps have to carry out for development of human organs with suitable suggestionof its improvement. Another option is related with digital marketing with shopper research.There are vast number of development is taking place in retail sector and for this Walmartadopted this technique in their business. Thus, business become completely differ fromtraditional segment in which face to face interaction with seller is essential. ASSESSMENT 1ASSESSMENT 2OVERVIEWWal Mart is one of the largest multinational American corporation that operates as ahypermart, discount shops etc. Company got founded in the year 1962 July 2, with a largestrevenue generating company (Boone and Kurtz, 2013). With rapid change in time andtechnological development, organisation start using several revolutionary tool in which they startoperating business through digital marketing. Thus, this concept aids them in better and effectivegrowth and development which get identify through their revenue generation capacity by takingposition of second largest retail segment E commerce company. Wal Mart stores Inc. total saleswith E commerce is about 13,284 US million with a market share of 2.8% after Amazon. 1
New Development in digital marketingDigital marketing:- Digital marketing defined as marketing of products with the use of digitalsources like internet, social networking, e-commerce etc. Today every organisation wants tointroduce itself in the market as a brand leader though its products. It’s a major task for acompany to promote its products in the market that's why organisation uses different approachesand techniques to introduce their product in the market (Catterall, Maclaran and Stevens, 2013).Here are some current digital marketing trends which are being used by the companies at verylarge scale these techniques are: -Social media marketing: - Social media is perfect sources to promote and introduce thenew product in the marketing. An organisation can make large number of customerthrough social media. Mobile marketing: - Mobile marketing is the fastest and growing source of digitalmarketing. Through mobile marketing its easy to convey the details about the products tothe customer.E- commerce websites: - E- commerce websites have been spread their web in the worldand it’s become a trend in digital marketing because customer gets vital range of productsand stuffs on these e-commerce websites. Search engine optimisation: - Search engine optimisation is a technique to make searchresults better on search engines to the customers. Motive of search engine optimisation isto get search result of the any information on the top in the list. E-mail marketing: - E-mail marketing is known as formal way of marketing of theproducts. In this method companies gives the products information’s and provide offersto the client.Let's Look an overview about Walmart retail stores marketing strategies: -Walmeart is one of the growing e-commerce website across the world which is giving a tuffcompetition to its rival companies. Walmart focused on its customer requirements and productsverities and set up its stores accordingly (Fillis, 2011). Its growth rate in groceries, food, dailyitems is getting higher rate since 2011. Its most near competitor is Amazon e-commerce network.Walmart already guessed the next digital environment in earlier stage. It putted itsresearch and developing sources skills in future digital marketing strategies. And that is the resultwe are seeing this multinational e-commerce group is increasing day by day.2
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