Marketing Mix

Running head: WALMART'S MARKETING MIX

Walmart's Marketing Mix

University of Phoenix

Walmart's Marketing Mix

Four elements are integral factors in the marketing mix. These four elements, or otherwise known as the "four P's," of a marketing mix are product, place, price and promotion. This paper will discuss what the "four P's" of marketing entail. The paper will also discuss Walmart, a retail giant, and how the "four P's" of marketing impact the development of Walmart's marketing strategy and tactics.

Walmart

"Walmart is the world's number 1 retailer, with more than 4,800 stores, including 1,475 discount stores, 1,750 combination discount and grocery stores (Walmart Supercenters in the US and ASDA in the UK) and 540 warehouse stores (SAM's Club)." (Walmart, 2009). Walmart was founded in 1962 by Sam Walton and went public in 1972. By 1988, Walmart had opened its first supercenter.

English: Inside the Walmart (still branded as Wal-...

The 4 P's for a good Politiv of Marketing-Mix

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By 2005, Walmart had over 1.6 million associates working for them. The success of Walmart has been partly due to its brilliant marketing of its product and its name. Walmart used the "four P's" to help boost itself up and over its competitors.

The Four P's

"The marketing mix is the set of controllable, tactical marketing tools that the firm

blends to produce the response it wants in the target market." (Armstrong & Kotler, 2005). The elements of the marketing mix are called the "four P's." These "four P's" are tools to help the company influence the customers to buy their product or services. The marketing team can control the "four P's" in order to make the best marketing mix for the product or services they are trying to sell. The team can "tweak" the mix with more promotion and a cheaper price in order to maximize the optimum marketing.