Marketing Mix of Walmart 

Walmart is the world’s leading retail American chain of grocery stores, discount departmental stores, and Hypermarket Corporation. Bud Walton and Sam Walton founded the retail corporation in 1962. Today, we’ll discuss the marketing mix of Walmart; it will discuss the key elements involved in the 4Ps and 7Ps of the mix like product, price, place, promotion, people, process, and physical evidence.

The marketing mix of Walmart allows you to analyze the 4Ps and 7Ps elements involved in the mix like product, price, place, promotion, people, process, and physical evidence. Here’s the Walmart Marketing Mix as follows;

Marketing Mix of Walmart 

Let’s discuss the 4Ps and 7Ps elements involved in the marketing mix of Walmart are as follows;

Products of Walmart

I-Routine Items

Walmart is a global retail chain store brand, and the company offers a wide range of products and services that customers need in their daily routine lives. Some of the main categories of products of daily routine life are as follows;

• Video games
• Food
• Funeral
• Outdoor living
• Toys
• Jewellery
• Home appliances
• Electrical items
• College supplies
• Presents
• Crafts
• Movies

II-Seasonal Products

Along with daily routine items, Walmart also offers a wide range of products in the seasonal product category and they’re as follows;

• Costumes for Halloween
• Christmas
• Easter
• Happy Thanksgiving

 Some of the other product categories are as follows;

• Home Improvement – garage equipment, wallpaper, paints, heating and cooling equipment
• Home Furniture Patio – storage and organization, garden and patio, floor care and vacuum, dining and kitchen, furniture, home décor, and bedding
• Music & books – books, songs, TV shows, music videos
• Electronics & Offices – office supplies, home automation, computers, tablets, cell phones, and wearable tech

Price Strategy of Walmart

I-Low Price Strategy

Walmart has achieved a market leadership position in terms of competitive products and pricing strategy. The retail brand procures goods in mass volume quantity, and the economies of scale allow the company to enjoy the benefit of offering products at a lower cost. Usually, Walmart charges 15% price for its products than its competitors. In order to attract the attention of customers, the retail brand employs various types of pricing strategies.

II-“Always Low Price”

Sam Walton floated the terms and phrases like “Everyday low price” and “Always low price.” It means that the company offers discounts for almost all of its products and services depending on the time and day you are shopping. For instance, the tagline of Walmart “Save Money, Live Better” shows that the significance of price to the company and how much emphasis the company is putting on it.

Place of Walmart

I-Retail Chain Stores

Walmart has established a network of 10586 stores in over 24 countries across the world. The retail chain store brand sells products both online and offline at its brick-and-mortar stores. Some of the main types of retail stores of Walmart are as follows;

• Express Stores
• Neighborhood markets
• Supercenters
• Discount stores

The statistical facts and figures about Walmart stores are as follows;

• 150 distribution centers that employ a cross-docking strategy
• 6200 international stores
• 650 Sam’s Club stores
• 4600 stores in the US
• 7800 drivers; 61000 trailers, and 6100 tractors for the delivery of goods

Promotion Strategy of Walmart

I-Various Sales Promotion

Walmart employs various types of sales promotional strategies like pricing schemes, product bundling, and in-store promotional bundling. The online store of Walmart offers gifts to online shoppers to attract their attention. However, the retail shopping brand also implements an aggressive brand promotion strategy along with sales promotion. The pricing strategy of Walmart plays a key role in increasing sales by employing slogans like these;

• Value of the Day
• Everyday low price

II-Exclusive Approach

In order to make customers make a quick shopping decision, Walmart includes the exclusive element in its promotional campaigns. It is like “grab it before it is gone,” such offers motivate customers to quickly buy things because they won’t be available tomorrow.

The next three elements are part of the 7Ps of the marketing mix of Walmart.

People Strategy of Walmart

Walmart has employed more than 2300,000 employees to manage its worldwide operations. The retail chain brand pays significant heed to its employees and considers them a valuable asset because they manage their daily operations and offer customer support.

In order to boost the morale of employees, Walmart offers training and learning programs to employees on how to serve customers better. The company serves approximately 1.5 million customers in the US; and 2 million customers globally.

Process of Walmart

In order to amplify the customer shopping experience, Walmart performs various operations efficiently and effectively. Some of the key processes of the company are as follows;

• Variety of payment methods
• Multiple payment counters
• Systematic product placement
• Trolleys arrangement

Distribution, warehousing, and procurement are some of the backend processes that help the company ensure the smooth flow of frontend processes.

Physical Evidence of Walmart

A Worldwide network of more than 11000 retail stores is the physical evidence of Walmart’s existence. Every retail chain store offers a wide range of products and services in different categories. The company has established offices worldwide and they contribute significantly to the company’s brand value.

Conclusion: Walmart Marketing Mix Analysis 

After an in-depth study of the marketing mix of Walmart; we have realized that Walmart is the world’s leading retail chain store brand. If you are learning about Walmart’s marketing mix analysis example; then you should keep in mind the abovementioned 4Ps and 7Ps elements like product, process, price, place, promotion, people, and physical evidence.