Description of Competitors
The company is one of the major retailers in the world but still the company faces a strong competition from the part of its major rivals. In this respect, it is worth mentioning the major rivals of Walmart, such as Kmart, Shopko, Costco, Target, Carrefour, and others. At this point, it is worth mentioning the fact that Walmart faces the growing competition from the part of its rivals internationally because its major rivals such as Costco, Carrefour, Target and others also expand their markets internationally. As a result, Walmart has to develop effective marketing strategy to take advantage over its rivals. At this point, it is important to place emphasis on the fact that the company offers customers attractive pricing policies, which allow the company to gain a larger market share fast and to penetrate new markets successfully. On the other hand, the company’s rivals are also large retailers, which also can reduce their prices to enhance their competition with Walmart. In such a situation, the customer loyalty becomes strategically important for the company, whereas Walmart has a negative public image. As a result, the company has substantial problems with the maintenance of the customer loyalty and their attraction to the company’s products and services because customers have a negative attitude to Walmart.
Obviously, Walmart should focus on the change of its public image and on the improvement of the company-customer relationships. In this regard, Walmart should take into consideration not only the pricing policy but to develop positive relationships with local communities and to form a positive public image (Reuter, 2006). In fact, Walmart has to improve the position of the company in the market through the change of its public image and formation of positive company-customer relationships to take advantage over its major rivals in the US and international markets.
3.0 Description of Product or Service (P)
Walmart is one of the largest retailers in the US and the world market. In such a way, the company attempts to offer customers diverse products and services delivering them products, which they may purchase in retail stores of Walmart nationwide and internationally. In fact, Walmart attempts to expand its markets internationally. In this regard, the company develops its marketing strategy offering diverse products and services. However, it is worth mentioning the fact that the company focuses on the low price of its products and services and it still fails to focus on the high quality of its products. Instead, the company offers products affordable for the overwhelming majority of the population and which are of the affordable quality. In such a way, the company maintains its competitive position offering diverse products, which customers can buy easily due to the low prices established by the company. In this regard, it should be said that the company often affects the local small business in the communities, where the company operates. At this point, it is worth mentioning the fact that low prices shift the flow of customers from small businesses to Walmart. As a result, the deterioration of the position of small businesses leads to the deterioration of the public image of the company. In this regard, it should be said that the company is in a controversial position because, on the one hand, Walmart still attracts customers due to low pricing policies, whereas, on the other hand, the company shapes a negative public image in the market in local communities and sometimes puts under a question the quality of products sold via Walmart’s stores.