Marketing Essentials

This document discusses the importance of marketing functions in achieving success in the market. It explores the 7Ps of marketing mix strategy and provides a marketing plan for Walmart. The document also includes a market summary and current situation analysis using the PEST and SWOT analytical tools.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
LO2..................................................................................................................................................3
Marketing mix.............................................................................................................................3
LO3..................................................................................................................................................8
Marketing plan.............................................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is one of the key functions of an organisation, in which upper management of
each company has always required to manage its different operations of marketing functional
department. Currently there is huge competition in market place of each country, and this is
growing regularly, conducting marketing functions in proper channel is the most appropriate way
to a company for achieving excellent outcomes in market place (Yu, Yang and Lai, 2019).
Currently most businesses and companies in across the world fully depends on the marketing
functions for gaining many new customers in their respective industry or sector. This report
discusses marketing function of Walmart. Basically, Walmart is a highly reputed retail MNC
known as retail giant in all over the world. 7Ps of marketing mix strategy has been used here for
comparing Walmart with another business of same industry. At the end, an effective marketing
plan also has been included below in this report for Walmart.
LO1
Covered in PPT.
LO2
Marketing mix
Marketing mix 7Ps strategy is very useful strategy to different companies and business in
this dynamic world, in which currently upper management of Walmart has given order to its
marketing department for always using this strategy in its workplace. Basically, 7Ps of marketing
mix strategy indicates seven key practices of promotion to an organisation, named; place, price,
promotion, product, people, physical evidence, process. In this situation, when marketing team of
a company consider these all Ps in its workplace, then it will be able to gain huge competitive
advantage in market place (Wooliscroft and Ganglmair-Wooliscroft, 2018). Ways of using
marketing mix strategy in two organisations has been discussed below in the comparative form.
The first organisation is Walmart and second one is Tesco. Basically, Tesco is a popular British
retail company which currently serves in many countries.

7Ps of
marketing mix
Walmart Tesco
Product Walmart generally offers all retail
products in its lots of authorised
supermarkets and stores, like;
groceries, furniture, toys, blankets
etc. Upper management this retail
brand is very active in maintaining
an effective quality of its products,
so that it has used different
approaches of operations
management (Sahoo, 2020).
Currently this company has the
wide range of products and services
in market place, and people like to
consume them as well.
Tesco also offers those all products
and services in market place which
has offered by Walmart. Groceries,
furniture, stationaries, clothes etc. are
main products of Tesco which it
offers in lots of supermarkets and
stores within international retail
industry. Upper management at
Tesco also don’t like to compromise
with quality of its products and
services, so that it has given strict
order to its production manager for
maintaining an excellent standard of
product quality.
Price This is a large retail organisation,
and highly succeeded in expanding
its business operations in across the
world just because of its pricing
strategies. Basically, this company
mostly uses competitive-based
pricing strategy in its workplace, so
this strategy helps to company for
proving its products and services on
something cheaper rate to its
customers in comparison of its
competitors. However, while
selling premium range of products
and services, Walmart’s upper
management has used value-based
In the retail industry, there is huge
competition, and upper management
of Tesco fully knows about this
factor, so it always believes in
following the concept of competitive
based pricing strategy. Basically,
competitive pricing strategy
contributes in maintaining prices of
own products something favourable
than competitors. Sometimes,
Tesco’s upper management uses
value-based pricing strategy as well
as Walmart. This strategy of pricing
enables to company for selling its
premium range of products on the

pricing strategy to set prices of its
premium products on the basis of
products’ market value.
appropriate rates in its different
market segments.
Place Currently Walmart serves in market
places of many countries, including
United States, Canada, United
Kingdom, France, Ireland, Japan,
Netherlands, Germany etc. In this
situation, it has the largest customer
base in the international retail
industry. Currently it has stores and
supermarkets in over 11,496
different locations, so it has highly
succeeded in expanding its business
operations in many market places
(Cho, Fu and Wu, 2017). Top-level
management of company has fully
focused on more and more
expanding its business operations in
many new market places.
Tesco also serves in thousands of
market places with its over 6800
supermarkets and stores. Basically,
Tesco also has an effective business
expansion strategy, and this is the
main reason that it has highly
succeeded in expanding own
operations in many new market
places in across the world. However,
retail industry of the United
Kingdom is main market place
Tesco, because this is company’s
home country, so it is the leading
retail organisation in this market
place.
Promotion Promotion is the most essential
function of Walmart, because this
company can’t achieve its overall
business objectives without
effectively promoting its brand
internationally. Currently
marketing department of company
is the main responsible department
for handling different operations
and campaigns of marketing within
Walmart. Nowadays, marketing
Currently marketing department of
Tesco is also very aggressive in
order to run different effective
marketing campaigns in its selected
market places for effectively
promoting its brand in market. Due
to having an effective marketing
team, Tesco has succeeded in
attracting many new customers
towards its brand in its home country
the United Kingdom. Currently

department of company mostly
depends on the digital marketing
strategy, because this strategy
currently provides very appropriate
results to different companies and
businesses in market place.
However, the marketing department
at Walmart uses traditional strategy
of marketing as well for effectively
promoting its brand at the large
scale in market place.
marketing team of Tesco also highly
social media marketing or digital
marketing strategy in its workplace,
because this strategy is the most
productive marketing tactic to inform
many customers about own products
and services in market place
(Murillo, D., 2017)
(Kostelijk and Alsem, 2020).
Marketing functional department
always makes some effective
marketing plans as well to rise its
market share in retail industry of its
selected market place.
People Top-level management of Walmart
knows about the value of people or
employees in the workplace of an
organisation, in which it always
tries to maintain an effective
relationship with its different
employees or workers. Currently it
has an effective workforce of over
2.2 million skilled and talented
employees in across the world, and
these employees are day or night
putting their huge efforts for
achieving overall objectives of
Walmart in market place. On the
other side, the management tries to
maintain effective relations with its
stakeholders as well.
Tesco’s upper management also
understands the value of people in its
daily operations. Currently this retail
organisation also has a large
workforce of over 450,000
employees, in which the
management has ordered to its HR
department for always adhering all
employment and contract laws in
workplace, because this practice of
HR can give high contribution in
building effective employee
relations. On the other side, it has
used stakeholder analysis matrix as
well in order to maintain an effective
relationship with its other
stakeholders.

Process Currently Walmart has the largest
or biggest supply chain in across
the world, in which it has no need
to put its huge efforts for delivering
its different products and services
to customers on time . Distribution
of officers and logistics department
of this company always uses such
ways of transportation in its
workplace which can provide very
productive results. For example; it
uses cargos for delivering its retail
products to its different authorised
stores and supermarkets in all over
the world.
Top-level management at Tesco is
also very aggressive in order to
deliver its products and services to
its customers on time, and this is the
main reason that company it has an
effective and the largest retail chain
in its home country United Kingdom.
Currently customers of Tesco no
need to wait for a product or service
in the company’s supermarkets or
stores, because logistics department
of company time to time fill all
authorised stores and supermarkets
of Tesco with different retail items to
deliver customers on time.
Physical
evidence
Walmart has an effective
workforce, so when any customer
visits company’s stores and
supermarkets, then existing staff or
employees of a store always
interacts with customers in very
proper manner. Basically, top-level
management has succeeded in
developing communication skills of
its staff or employees, so they
always give each information about
a product while interacting with
customers.
Employees and staff of Tesco also
properly interact with different
customers when they visit the
company’s authorised stores and
supermarkets (Wafa, 2019).
Basically, customers have always
quires about any product or service,
so existing staff or employees help
customers by sharing information of
each product with them.
Evaluation

On the basis of this comparison, Walmart and Tesco both retail companies are taking lots
of advantages from 7Ps of marketing mix strategy. Marketing teams and marketers within both
companies are putting their huge efforts for improving brand value their respective organisation
in international retail industry.
LO3
Marketing plan
In current highly competitive market place, upper management of each business need to
order its marketing department for making or formulating an effective marketing plan, because
this is very necessary to gain an excellent competitive advantage in market place (Stewart, 2019).
In this situation, a very productive marketing plan has been included below for Walmart, so
marketers of this company have to consider this plan in its daily operations.
Marketing Plan
Aim: The company wants to raise its market share by 12% in international retail industry.
SMART Objectives
 Use modern techniques and tactics of marketing for attracting many new customers
towards own brand.
 Provide quality products and services to put positive impression on customers.
 Run informative advertisements for influencing decision-making journey of customers.
STP Model
STP model is also considered as marketing strategy by many companies and businesses
in market place. Basically, this STP term indicates three key stages of marketing which has
been discussed below for Walmart.
Segmentation
This is the first stage under the STP model, in which upper management of company
have to order its marketing team for dividing its whole large market into small or mini
segment of market (Nunna, 2018). It can divide whole market into segments according their
demographic or geographic background.
Targeting
Targeting is another major stage within the model of STP, in which this stage influence

to different companies for targeting customers to increase their sales ratio. In this situation,
there are marketing team of Walmart can target its customer according to their interest, hobby,
attitude, religion etc.
Positioning
Positioning is the last or final stage under the model, in which marketing team of
Walmart need to put its huge efforts for maintaining an effective relationship with different
new customers or people within market places (Turban and et.al., 2018). On the other side,
upper management need to focus on developing functions of its logistics department as well
for delivering its products and services to customers on time.
7Ps of Marketing Mix
Product: Walmart generally offers all retail products in its lots of authorised supermarkets and
stores, like; groceries, furniture, toys, blankets etc.
Price: Basically, this company mostly uses competitive-based pricing strategy in its
workplace, so this strategy helps to company for proving its products and services on
something cheaper rate to its customers in comparison of its competitors.
Place: Currently Walmart serves in market places of many countries, including United States,
Canada, United Kingdom, France, Ireland, Japan, Netherlands, Germany etc.
Promotion/Advertising: Marketing department of company mostly depends on the digital
marketing strategy, because this strategy currently provides very appropriate results to
different companies and businesses in market place.
People/Public Relations: Top-level management of Walmart knows about the value of people
or employees in the workplace of an organisation, in which it always tries to maintain an
effective relationship with its different employees or workers.
Process/Distribution: Distribution of officers and logistics department of this company always
uses such ways of transportation in its workplace which can provide very productive results.
Physical evidence: Walmart has an effective workforce, so when any customer visits
company’s stores and supermarkets, then existing staff or employees of a store always
interacts with customers in very proper manner.
Market Summary and Current Situation
Analysis of market summary and current situation is very mandatory task to a company
while implementing a marketing plan, in which there are two effective model of market

current situation analysis named; PEST and SWOT analytical tools has been used below for
analysing current market situations for Walmart.
SWOT analysis
SWOT is very helpful too to different companies for analysing its internal business
environment. It includes four major internal factors which has been discussed below;
Strengths: Walmart is the leading retail organisation in the world.
Weaknesses: Many times, decisions of upper management affect its operations of business due
to ineffective decision-making skills.
Opportunities: The company has opportunity to gain more market share in the retail industry
by starting own e-commerce website.
Threats: Continuously increasing market competition is the main threat to Walmart. For
example; UK based retail organisations named; Tesco and Marks and Spencer gives very
tough competition to Walmart.
PEST Analysis
PEST analysis tool is very helpful to an organisation for identifying key external
factors of is business environment. This tool generally informs businesses about four key
external factors which has been mentioned below;
Political Factors: Currently political factors are highly affecting to Walmart in international
market place. For example; governments of different countries have imposed taxation
obligation on company.
Economic Factors: Economic factors affects to company in both manners, positively and
negatively. For example; currently the UK’s economic system negatively affects to Walmart,
because this country’s economic situations are not good right now (Korzenny, Chapa and
Korzenny, 2017).
Social Factors: Social factors are very favourable to this company in most market places,
because people always like to consumer quality products in market, and Walmart already
provides quality products to customers.
Technological Factors: These factors affect to company for continuously increasing its
productivity and performance in market place.
Budget
Top-level management of Walmart have to pass a specific budget for its marketing

team for systematically implementing this plan of marketing in the selected market place.
Monitoring and Controlling
Proper monitoring and controlling of different practices of marketing plan is very
necessary to company for gaining effective outcomes from this plan, so upper management
and marketing department should properly monitor and control this plan (Almeida and Santos,
2018).
Key performance indicator (KPI)
Upper management cam order to its marketing manager for adopting and using KPI
tool in order to check the existing performance of its marketing plan after implementation.
This is really necessary task to company for ensuring that, all operations of marketing plan are
going very well.
Launch strategies
The management of company need to coordinate with its marketing department for
systematically launching this strategy, and then they need to inform their employees for being
more active and aggressive to implementing different marketing strategies in different market
segments in effective manner.
CONCLUSION
It can be concluded that top-level management at Walmart has always required to use
both modern and traditional strategies of marketing for gaining effective outcomes in market
place. However, currently modern strategies of marketing are very favourable to Walmart,
because these strategies will be able to company for attracting many new customers in this
modern and dynamic world. The marketing department of company have to follow a very
productive marketing which has been mentioned above, because this plan will enable to access
different effective strategies of marketing to gain huge competitive advantage and effective profit
margins in market place.

REFERENCES
Books & Journals
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Communications. Routledge.
Murillo, D., 2017. From Walmart to Al Qaeda: An Interdisciplinary Approach to Globalization.
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