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Global Marketing Research
The aim of this research is to find out whether U.S and Japan use the same executional aspects in advertising for both local and global brands as compared to the past. The researchers used the television commercials of America and Japan to give their analysis. The study also compares the global brands and local brands in terms of using the same executions both in Japan and U.S.A.In addition the research also outlines the strategies that global brands use as compared to local brands in America versus Japan.
This research confirms that global ads seems to be the same as compared the local ads in both japan and the U.S. thus, leading the firms to strategize on the world consumer culture and frequently using GCCP to advertise their commodities. The research further affirms that the local brands executions in the U.S. compared to Japan were consistent with culture aspects. This study further notes that in the U.S. GCCP appeal and soft-sell are more common and global brands employed the world consumer culture symbols. On the other hand Japanese ads employed GCCP using global symbols. According to Johansonn (1994), Japanese ads make reference to local symbols.
It is evident that collaboration and social behavior have a role to play in this study. Firstly, the researchers use both the U.S. and Japan television commercials to conduct their analysis. Secondly, the researchers observes the social behavior of the firms and consumers and they are able to collaborate with different people from different cultures.
The researchers used various method of collecting data, one being sampling whereby the commercial television networks of Japan and U.S. were recorded. This method of collecting data was effective as it helped the researchers with balanced representation in terms of viewing times. The study also employs data instrument and coding procedure. The use of this method reduces coding costs and ensures the accuracy of data.
In completion of the data analysis of this study, Charles Taylor and Shintaro Okazai carried out analyses on services compared to physical products. This analysis found that ads for global brands in the U.S and Japan are the same in terms of counting and timing of variables. Okahazi & Taylor (1992) finds that there are more similarities in ads for global brands for both products and services as compared to the past. A qualitative analysis was also conducted to help identify the ads used in Japan and the U.S. that represented typical positioning for both local and global brands. The analysis affirms that in the U.S. GCCP and soft-sell appeals are common and the U.s local brands used the local symbols. The analysis supports that the global brands marketing in both the U.S. and Japan has being influenced by the World consumer culture.
In conclusion, the global marketing research by Okahazi & Taylor (2013) was a success, in that it provides us with the competitive outcome in U.S. and Japan. This study uses sampling and data coding as methods of collecting data thus ensuring the data is accurate and reliable. The research compares and contraststhe effects that World consumer culture has had on the global brands. The study further compares both local and global brands in U.S. and Japan thus providing in depth information on competition and collaboration of firms in the World economy.
Okazaki, S., & Taylor, C. R. (2013). Social media and international advertising: theoretical challenges and future directions. International marketing review, 30(1): 56-71.
Wu, L., Chuang, C. H., & Hsu, C. H. (2014). Information sharing and collaborative behaviors in enabling supply chain performance: A social exchange perspective. International Journal of Production Economics, 148(3):122-132.
You will now complete your secondary market research and consider what distinguishes your company from your competitors, their products, and / or the price of their products and services.
The key word in Unique Selling Proposition (USP) is “unique.” There are very few products or services that are truly one of a kind. In order to target the demographic for your company, you need to pinpoint what.
Wal-Mart is a multinational retail corporation dealing in warehouse stores and discount departmental stores. The retail corporation has its headquarters in the United States, in the Arkansas state. Walmart focuses on giving customers the best value for their money by providing quality products at low prices, and with outstanding customer service. This sets Wal-Mart apart from the rest of the competition.
Walmart’s unique selling preposition is a focus on “everyday low prices” (EDLP) while delivering quality products to customers (“Walmart,” 2014). The retail corporation stocks a broad assortment of products such as national brands and local merchandise that reflects the need of consumers in the area of operation. The company focuses on an “everyday low cost” strategy that aims at keeping costs low. This enables Wal-Mart to sell at relatively low prices compared to other retailers in the market (“Walmart,” 2014).
Walmart has a number of marketing objectives. The retail corporation seeks to deliver locally relevant products to customers at low prices. This can also be seen as marketing segmentation where various stores across the world will stock locally relevant merchandise. Wal-Mart also seeks to expand its product delivery channels to include e-commerce (“Walmart,” 2014). This means that the retail store will integrate digital and physical platforms to reach out to as many consumers as possible. Online stores will appeal to consumers who prefer shopping online. Secondary research was conducted by reviewing Walmart’s 2014 annual report.
To sum up, USP may be defined as the distinct value or characteristic of a product that enables Walmart to increase its market share (Steinhardt, 2010). Marketing objectives highlights the active steps the retail store has taken to achieve a unique selling preposition.
- Cost leadership in the retail business
- Expansion into the international market
- Stocks a wide range of merchandise
- Established brand name
- Logistical and supply chain capabilities
- High employee turnover
- The retailer has faced a number of labor related lawsuits
- Some stores are crowded
- Increase in expenses may force the retail store to adjust prices
- The opportunity to attract more customers through online platform.
- Walmart’s own label merchandise is gaining acceptance and can boost growth
- Growth opportunities in emerging markets
- Growth in operating income in 2014.
- High competition from other retailers
- Increase in commodity prices
- High competition from online stores
- Slow growth in developed and developing markets experienced 2014 (Tabuchi & Abrams, 2014).
Walmart supply chain and operational system aims at enhancing the everyday low prices model. As such it is important to use optimized transportation routes which can enable a business achieve high efficiencies in the supply chain (Tabuchi & Abrams, 2014). Mechanizing all the distribution centers and stores can also help in labor cost reduction. Outside vendors may be costly so it is advisable to do everything in-house.
The company’s pricing strategy is in line with the company’s pricing objective. The company seeks to become the price leader in the industry by charging lowest possible prices (Tabuchi & Abrams, 2014). The company’s objective is to deliver a variety of merchandise to consumers at low prices. A SWOT analysis is an important tool used in determining the internal strengths and weaknesses and the external opportunities and threats facing a company (Ferrell & Hartline, 2011). The importance of describing the supply chain and pricing strategy is to show how the company integrates the information to its decision making using the SWOT analysis.
Ferrell, O. C., & Hartline, M. D. (2011). Marketing strategy. Australia: South-Western Cengage Learning.
Steinhardt, G. (2010). The product manager’s toolkit: Methodologies, processes, and tasks in high-tech product management. Heidelberg: Springer.
Tabuchi, H., & Abrams, R. (2014, Nov. 13). After a Bump in Sales, Walmart Braces for a Competitive Holiday Season. The New York Times.
Walmart, (2014). Annual Report. Retrieved from http://stock.walmart.com/files/doc_financials/2014/Annual/2014-annual-report.pdf