Wal-Mart’s Tactical Branding Plan
Objectives Wal-Mart stores has a detailed branding plan aimed at preserving both its traditional markets and capturing new marketing elements. The branding strategy aims at safeguarding Wal-Mart stores as the preferred destination for shoppers across major markets in the United States and other off-shore markets (Humphrey & Green, 2009).
Goals The marketing goals for Wal-Mart are as follows: Maintain a positive image as the leading retail point among other competitors. Create the notion of individual sensitivity by focusing on individual customer tastes. Emphasis on the ‘all-under-one-roof’ approach or multi-purpose achievement. The multi-naming approach aims at sensitizing different consumer choices across typical geographical dispositions. Plans The branding plan for Wal-Mart entails the creation of an international image through the emancipation of different brand names associated with the giant store.
For instance, the use of different naming approaches across different geographical settings, for example, ASDA in the United Kingdom. The branding approach being used by Wal-mart relies upon critical economy projections made into the industry in which it serves its customers (Humphrey & Green, 2009). In recent times more focus has tended to shift to towards the use of relevant resource optimization approaches, for instance, in its building of an electronic store with an aim of capitalizing on critical economic indices. In addition, the branding approach pursues the use of individual campaigns which focus on different seasonal arrangements and creativity levels (Humphrey & Green, 2009). Budget allocation The estimated budgetary allocation for Wal-Mart among other great stores, for instance, SEARS appears to be significantly high.
The allocation for branding strategies depends upon seasonal variations of product sales after market analysis (Humphrey & Green, 2009). Quantifiable and non-quantifiable tools of Advertising Objectives Wal-Mart group of stores has elementally pursued the several modes of quantifiable and non-quantifiable advertising models in a bid to expose the store’s services and product to a diverse clientele group found in different geographical areas. Goals Wal-Mart fundamentally aims at achieving the desred industry rating. The use of multiple approaches in terms of advertising aims at reaching all service levels found at retail point and whole sale points. Enhance the concept of price sensitivity through the utilization of different industry mechanisms.
Create the notion of price independence by setting a unique and independent price range for its products (Humphrey & Green, 2009). Plan The advertising plan for Wal-Mart group of stores pursues the achievement of levels in its critical industry objectives through the application relevant concepts of advertising, which are enshrined in the integrated marketing approach in compassion to other industrial objectives. Quantifiable tools of marketing associated with Wal-Mart include the use of internal (company based) and external (industry based) advertising criterion with an aim of achieving an all round (Humphrey & Green, 2009). Some of the internal advertising elements include the focus given to company employees. This majorly arises because of the colossal size of the store hence employee impact serves to preserve the internal environment in readiness of external objectives. Furthermore, external strategies aim at capitalizing on the formation of a working business pitch after critical assessment of other competitive factors, for instance, competitor product and service variations including sourcing fundamentals.
Other non quantifiable advertising goals for Wal-Mart group of stores aims at achieving a more than 60% brand recognition elements for the group of stores in addition to the attaining a significant per customer valuation criterion (Humphrey & Green, 2009). The advertising plan essentially begins from a an internal focus, moves to a local focus and finally international focus. All this time both print and electronic sources are satisfactorily put to desired application.Budget allocation In all the plans Wal-Mart has a definitive budget allocation criterion which leads to a well balanced expenditure program. The products and services having more sales get more allocation of funds than other low sales products and services (Humphrey & Green, 2009).
Media selection of Sales Objectives Media sales selection forms a critical component of Wal-Mart’s group of stores with a main objective of disseminating its sales through use of all relevant aspects of the media. These may include in-store displays, Facebook and other audio-visual aspects. Goals Achieve a consistent growth of sales that is commensurate to the media element in use. Achieve sales feedback based on the time period under which the different elements of media are running (Humphrey & Green, 2009).
Promote the notion of brand contact and desired levels of interaction on the target consumer. Plan The media sales selection plan for Wal-Mart group of stores is fundamentally based upon the achievement of critical milestones in the constantly fluctuating sales arena. First, the managers formulate a product placement criterion which is based upon the conclusion of the respective advertisement points of insertion. A case in view, is the United Kingdom case in which under its European Union trade name ASDA, Wal-Mart aimed at household media points of insertion to promote sales for household goods and services (Humphrey & Green, 2009). Using its designated media planners, the management formulates a system that leads to the delivery of both planned and unplanned messages in order to have the desired customer-product contact of which its overall effect is to stimulate the level of sales and production at the same time. Budget allocation The allocation criteria for expenditure budgets depends on the media selection after market analysis.
PART TWO: Integrated Marketing Article Analysis This article is essentially based on the upcoming events of the 2010 World cup phenomenon that will be held in South Africa. In this article it is mentioned that several companies are looking forward to participate in the initiating the event. They include Adidas, Anheuser-Busch InBev, Coca-Cola, McDonald’s, Nike, Hyundai, and Visa (Elliott, 2010). Integrating marketing elements generally entail the application of varied fronts of marketing focusing on the pursuance of both online and offline marketing approaches.
For instance, in Hyundai gave its sponsorship to Super Bowl on CBS television, and in addition, the Academy Awards on ABC television yet its planning to conclude a similar sponsorship for ABC and ESPN during the World Cup, which will utilize online, print, and radio (Elliott, 2010). These aspects reflect the use of both aspect of online and offline marketing resources in a bid to accrue positive benefits from marketing resources. Coca-Cola on the other hand plans to market its soft drink ‘PowerAde’ in print, online and outdoors during the World Cup event (Elliott, 2010). All these aspects portrayed by the two companies show utilization of integrated marketing to achieve product, price, place and promotion as critical marketing elements.