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Table of Contents Introduction 1 Chapter I Marketing Mix 2 I Definitions of Marketing Mix 2 II How the marketing mix meets the market s needs and requirements 2 Chapter II Explain the various elements of the marketing mix in Mal mart 2 I Product 3 II Price 3 III Promotion 4 IV Place 5 V People 5 VI Physical evidence 6 VII Process 7 Conclusion 9 Bibliographies 10 1 Introduction In this thesis the first part mainly introduces the definition of marketing and how to meet the market demand and requirements The second part introduces the definition of 7p and introduces how to use the 7p Wal Mart Store Inc The following is the introduction of Wal Mart Store Inc Wal Mart is an American multinational retailer It s headquartered in Bentonville Arkansas It is the world s largest companies It is the world s largest private employer employees more than two million and it is the world s largest retailer Wal Mart is still a family business its holding human Walton family owns 48 equity interest in Wal Mart In 2009 net profit of 25 8 billion 2 Chapter I Marketing Mix 1 Definitions of Marketing Mix The marketing mix is one of the most basic concept in marketing refers to the enterprise to determine the best combination of controllable marketing factors according to the needs of customers 2 How the marketing mix meets the market s needs and requirements Wal mart proposed to help customers save every penny the purpose to achieve the cheapest price commitment Wal mart also provides new enjoy superior service to customers The company has consistently adhered to one upmanship services staff out of the ordinary principle Into Wal mart the customer will be able to feel the Guests feel at home service Again Wal mart the implementation of one stop shopping new concept Customers can in the shortest possible time to the fastest speed to buy all the commodities it is this fast and convenient shopping way to attract the modern consumer In addition although the Wal mart in order to reduce the cost time and again to reduce the expenditure on advertising but the public welfare donations the money did not hesitate widely good Have to pay benefits Wal mart in public welfare activities a large number of long term investments and the activity itself with the unique creativity greatly enhance the visibility of the brand successfully created excellent brand image in consumers minds Finally Wal mart is also one reason Sears could surpass the most critical Wal mart is aimed at different target consumers different forms of retail operation were occupied high low end market For example the middle and lower consumer Wal mart shopping plaza parity only provide preferential and services for members of the Sam member shops and by the top consumers of the comprehensive department stores such as Wal mart Chapter II Explain the various elements of the marketing mix in Wal mart 1 Product 3 The definition of product a factor that must be considered service products is to provide a range of services quality and brand and after sales service Service offerings include core services convenient services and ancillary services 1 Concerned about 20 of goods Wal Mart is 80 20 rule faithful to follow who attaches great importance to account for 80 of the sales turnover of the main commodities to ensure that no stock And constantly optimize the product mix of 20 fully oriented to customer needs reducing capital and slow moving products store space occupied 2 Purchasing localization Currently Wal Mart stores the proportion of China s domestic commodity has exceeded 80 3 Development of independent brands Own brand unique style low price unified design unified supply and price and form a unified series of advantages especially easy to meet the specific needs of customers Wal Mart supermarket in Dalian from food to daily necessities is full of Wal Mart s own brand basic accounts for 20 25 of all commodities 2 Price The definition of price as a unified service levels is difficult to define quality inspection is also difficult to adopt uniform standards coupled with the season and the importance of the time factor the service must have greater flexibility in pricing 1 Every day special Wal Mart Stores is positioning its middle and lower classes business clothing food and a variety of daily miscellaneous goods the most important thing is to lower the sale price of other stores which attracted many customers that more and more stores but everyday low price has not changed the law Wal Mart operates several retail formats although their target customer is different but it is consistent with the business strategy the everyday low prices for customers to save every dollar the implementation of puerile In Wal Mart that even if the identity of any lowly store employee if he found any other place to sell something cheaper than Wal Mart Wal Mart he would be entitled to similar goods prices 4 2 None of sales none other sales including discount sales membership sales Discount on all sales of goods mainly applicable to new Wal Mart opened as well as some promotional material anniversary festival day favorable for the sale of certain category of goods mainly applicable to a variety of festivals and seasonal consumer promotional activities launched Wal Mart to develop rapidly but also thanks to its first discount sales strategy Discount sales despite seemingly nothing more than discounted none other but in fact there are none with discounted big difference Periodic or occasional discounts on activities often in order to pass a one off sale to achieve a particular business promotional purposes under certain circumstances specified period such as seasonal clearance promotion of new products etc The discount is a long term stable profit sharing namely by maxing out depresses prices to guarantee sales thus ensuring total profits while ensuring customers So Wal Mart discount sales is a specific way of selling is a long term stable sales strategy In Sam s Club commodity prices lower than regular retail stores 30 40 which may not bring much profit to Wal Mart but the number of loyal customers attracted tightly around her narrowing the competition opponents consumer groups this is certainly a clever strategy 3 Promotion The definition of promotion promotional Services include advertising personal selling sales promotion publicity public relations and other marketing communication To enhance the consumer s impression of intangible services companies in promotional activities to try to make tangible service products Promotional marketing campaign is an important part which is mainly to convey information to customers promotional products and shaping the company s image 1 Advertising strategy Wal Mart s investment in advertising costs less than ever and the future will be further reduced advertising spending straight down to zero 2 Event Marketing Wal Mart is very good at choosing the right merchandising For example is held every year a large scale promotion moon pies every year alone sales of as much as 6 000 000 In addition if new store openings or holidays the 5 company will organize some outdoor big auction gift balloon or band performances please add to the fun to expand sales 3 PR shape Wal Mart is believed to be a rich humane enterprise in people s minds to leave an excellent impression mainly due to its good public relations activities 4 Place The definition of place with the expansion of services in addition to direct sales and service areas the situation by increasing the sales agency Intermediaries are mainly agents dealers brokers wholesale retail and other forms Wal Mart s channel marketing mainly in the management mode has crossed the internal management and external communication category but the formation of its own as the main chain links manufacturers and customers global supply chain Wal Mart in terms of technology and the use of electronic technology has invested a lot of money so always be a world leader in this regard Wal Mart to enter China the first Chinese and Shenzhen Special Economic Zone is its long term strategic considerations and other European major retailers like Wal Mart before entering China the Chinese market for several years of research on population income geographic environment culture government macroeconomic policies and other factors have carried out a detailed analysis Wal Mart to invest in China s focus on the future they suggested that in order to open the Chinese market you can not profit within three years which is actually a first to survive after the development of profitable again thinking In business strategy choose a variety of retail formats to target consumers for different grades It is because of Wal round attack seize the high low end market so be the first brand retailing 5 People The definition of people the operator services industry in the minds of customers is actually an important part of the product All of them are directly or indirectly involved in the process of a service consumer this is a very important marketing mix 7P a point Knowledge workers white collar employees managers and some 6 consumers will supply additional value to either the total social product or service which is often a very significant part of the value 1 Localization employees Retailers want to be in the foreign market development we must make use of a considerable number of local human resources because only local human resources in order to better understand the local market better able to overcome cultural barriers caused problems Wal Mart attaches great importance to the localization of personnel Wal Mart employees 90 are from the local community 2 Employees are partner Wal Mart employees are not called employees but as a partner Wal Mart believes that companies rely on the work of dedicated staff united to succeed Wal Mart stressed employees are the best source of innovation and change We respect every employee not between the two hierarchical superior subordinate relationship and benefit sharing partnership In the open atmosphere they encourage employees to ask questions and more concerned about the company and strive to create freely cultural environment Employees can make to improve the company s views directly to any one manager if adopted will be rewarded On the material benefits Wal Mart offers to all employees the same health insurance and enjoys incentive bonuses stock purchase paid vacation and 24 hours of free career counseling hotline and other services In the promotion company performance and work as a criterion Not only focus on the training of staff also offers a competitive salary 6 Physical Evidence The definition of Physical Evidence Tangible show includes some tangible factors that can transfer service features and benefits of support services provided or to give customers tangible things including environmental physical equipment etc symbolizing the intangible benefits may be obtained 1 Store decoration Wal Mart stores adhere to a standardized design whether it is the shop area shop decoration the size of the store shelves or product placement product placement signs Wal Mart has a uniform requirement In addition in order to 7 facilitate the customer to understand the price of goods Wal Mart stores also requires that all signs must be commodity prices are hanging on the shelf 2 Free parking There will be no parking business Wal Mart s highly respected this sentence According to Wal Mart s findings in mainland China to the Chinese consumers shopping Wal Mart where 28 of walking cycling 15 20 or more by bus while him drove the few Even so Wal Mart stores during the design still ready with ample free parking Wal Mart s business area such as Shenzhen although only 12 000 square meters there are nearly 400 free parking spaces another business area of 17 800 square meters of Wal Mart shopping plaza also has about 150 parking spaces 3 Customer centric service philosophy In China Wal Mart with particular emphasis on staff awareness For example the customer asked the clerk must be within three meters of a smile some stores make a daily smile to at least one customer requirements should seriously answer the customer s question never say do not know find the product for customers No matter how busy clerk must put down the work to help customers find merchandise do not hit the face of the customer to fight back reviled not exposing eight teeth when you smile Moreover what is to exceed customer expectations and so are attracted Wal Mart holy grail of customers Mart a striking feature is the good service Customers are God respect for each employee the pursuit of excellence every day which can be said to be the essence of Wal Mart s corporate culture 7 Process The definition of process the service can be achieved in the process through certain procedures mechanisms and activities is a key element of the marketing strategy Service processes directly affect the quality of services thus affecting the competitiveness of enterprises 1 Marketing expressions of pleasure focus and staff concerns can reduce customer waiting in line services must feel impatient or when technical problems quell customer complaints or dissatisfaction Wal Mart to pursue the everyday low prices 8 philosophy advocating respect for the individual customer service the pursuit of excellence corporate culture committed to providing the kind of quality and cheap goods and services to consumers 2 Although Wal Mart to warehouse run rise in the retail sector which determines the mode of operation can not provide too much service but they always put the super class service as their own sovereign responsibilities Wal Mart not only provides cheap goods for customers

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