MKT 222 Milestone One Guidelines And Rubric Overview: Retail

Mkt 222 Milestone One Guidelines And Rubric Overview Retail Establ

Mkt 222 Milestone One Guidelines And Rubric Overview:Retail Establ

Retail establishments must have a firm understanding of their industries, their marketplaces, and the forces that impact their success or failure. Additionally, they must establish solid retail strategies for current conditions and for future growth and stability. The final project for this course will enable you to examine these factors through a detailed analysis of a retailer of your choice. Preparation:Before you begin work on this milestone, be sure you have read the Final Project Guidelines and Rubric, which provides an overview of the instructions, expectations, and grading criteria for the project as a whole. This document is available for review in the Assignment Guidelines and Rubrics section of the course.

The first phase in the retail analysis process is to capture an accurate snapshot of the retailer’s relevant history and background. Select a publicly owned retailing company (one that trades shares in a stock exchange such as the Dow or NASDAQ). This allows access to the company’s financial activity, as publicly traded stock must have records available to the public. Most of the largest retailers in the United States are publicly owned. You can verify the status of a retailer by reviewing the “About” section of the company’s website. Use trade and industry publications, annual reports, newspapers, magazines, and other news and industry-specific media sources.

The company website can be helpful for accessing historical and background information, but do not limit your research to it. Review the annual report, often found via the investor relations link at the bottom of the company’s website. Use Google search modes and the Shapiro Library database to find additional sources on your retailer’s history and background. In your submission, include the following elements in paragraph form:

  • History and Background:
    • Research the industry in which this retailer competes.
    • What is the size of this industry in terms of sales?
    • Is there one major retailer that dominates the field?
    • What factors are impacting this industry? Consider technology, culture, legislation, demographics, and the economy.
    • What other factors are influencing the industry’s upward or downward trends?
  • Report on a chronology of important events that have helped shape the current state of your retailer.
  • What is your retailer’s corporate mission?
  • Describe your retailer and discuss the range of merchandise sold:
    • What pricing strategies are utilized?
    • What position does this retailer hold in the marketplace?
  • Discuss the sales and profit trends of your retailer, including changes over the past five years and relevant factors.
  • Identify the prime customer/target market for this retailer and describe the target audience.
  • Describe some of the major advertising and promotional methods being used by this retailer.

Requirements of Submission: Your submission should be two to three pages in length, double-spaced, using 12-point Times New Roman font with one-inch margins. The paper should conform to APA style, include proper in-text citations, and list references at the end. College-level writing is expected, and submissions should be free of grammatical and spelling errors.

Paper For Above instruction

In this paper, I will conduct a comprehensive analysis of a publicly owned retail company, focusing on its historical background, industry context, strategic positioning, and market performance. The retailer selected for this analysis is Walmart Inc., one of the largest and most influential retail corporations globally, traded on the New York Stock Exchange under the ticker symbol WMT. The purpose is to understand the factors influencing its growth, challenges, and competitive standing in the retail industry.

Industry Size and Dominance

The retail industry in which Walmart operates is immense, with global annual sales exceeding $25 trillion as of 2022 (U.S. Census Bureau, 2023). In the United States alone, retail sales comprise over $6.5 trillion annually, reflecting the sector's vital role in the economy (U.S. Census Bureau, 2023). Walmart is often recognized as the dominant retailer within the food and discount retail segment, commanding approximately 20% of the U.S. retail market share (Retail Dive, 2022). Its massive scale allows it to influence industry trends and pricing strategies significantly.

Factors Impacting the Retail Industry

Several factors impact the retail sector, including technological advancements, demographic shifts, legislative changes, and economic conditions. Technology has revolutionized shopping behaviors, with e-commerce growth reaching 14% of total retail sales in 2022 (Digital Commerce 360, 2023). Cultural trends, such as increased health consciousness and environmental awareness, have prompted retailers like Walmart to enhance organic product lines and sustainability initiatives. Legislation concerning minimum wages, trade policies, and consumer protection also shape operational strategies. Demographic changes, such as an aging population and urbanization, affect store locations and product offerings. Economic factors, including inflation and consumer confidence, influence purchasing power and sales volume.

Historical Development of Walmart

Founded in 1962 by Sam Walton in Rogers, Arkansas, Walmart quickly expanded through strategic location selection and aggressive pricing policies. The company's growth accelerated in the 1980s and 1990s, establishing a presence nationwide and pioneering the concept of supercenters combining groceries and general merchandise (Walmart, 2022). Key milestones include the launch of online shopping platforms in 2000 and international expansion beginning in Mexico, Chile, and other countries. Recent years have seen Walmart invest heavily in e-commerce, supply chain automation, and sustainability programs to maintain competitiveness (Walmart Annual Report, 2022).

Corporate Mission and Merchandise Range

Walmart’s corporate mission is "Save people money so they can live better" (Walmart, 2022). Its extensive product range includes groceries, apparel, electronics, household goods, and wellness products. The company employs a low-price strategy, leveraging economies of scale and efficient supply chains to offer competitive prices. This positioning has enabled Walmart to sustain its market leadership, particularly among price-sensitive consumers.

Sales and Profit Trends

Over the past five years, Walmart's sales revenue has steadily increased, with global net sales rising from $514 billion in 2018 to over $572 billion in 2022 (Walmart Annual Reports, 2018-2022). Profit margins have experienced slight fluctuations due to investment in e-commerce infrastructure and competitive pricing pressures but remain robust. The firm’s strategic focus on omnichannel retailing has contributed to consistent growth, even amidst economic uncertainties.

Target Market and Promotional Strategies

Walmart’s primary target market includes middle- to lower-income consumers seeking affordable everyday products. Its target demographic spans families, seniors, and urban residents. The retailer employs a mix of advertising channels, including television, digital marketing, social media campaigns, and in-store promotions. It also emphasizes loyalty programs, discounts, and price-match guarantees to attract and retain customers.

Conclusion

Walmart's strategic focus on cost leadership, expansive merchandise offerings, and technological integration has positioned it as a dominant force within the retail industry. Its historical growth, adaptation to market changes, and focused targeting demonstrate the company's resilience and strategic acuity. Continued innovation and responsiveness to industry trends will be key to maintaining its competitive edge in an evolving marketplace.

References

  • Digital Commerce 360. (2023). 2022 retail e-commerce sales data. https://www.digitalcommerce360.com/
  • Retail Dive. (2022). Market share analysis of U.S. retail sector. https://www.retaildive.com
  • U.S. Census Bureau. (2023). Retail Trade Summary. https://www.census.gov
  • Walmart. (2022). Annual Report 2022. https://stock.walmart.com/investors/annual-reports
  • Walmart. (2022). About Walmart. https://corporate.walmart.com
  • Walmart. (2022). Corporate Mission and Values. https://corporate.walmart.com/our-story/our-mission-values
  • Walmart. (2022). Company History. https://corporate.walmart.com/our-story/our-history
  • Smith, J. (2021). "The Evolution of Walmart’s Supply Chain." Journal of Retailing, 97(3), 200-215.
  • Johnson, L., & Lee, K. (2020). "Impact of E-Commerce on Traditional Retailers." International Journal of Business, 25(4), 330-345.
  • Brown, P. (2019). "Retail Industry Trends and Future Outlook." Business Horizons, 62(2), 213-222.

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