Research Proposal 1 And Proposal 3 Great Value Research

Research Proposal 1research Proposal3great Value Resear

The marketing proposal focuses on Wal-Mart’s Great Value product line, emphasizing strategies to enhance the brand’s visibility and perception among consumers. Wal-Mart has built its reputation on offering products at affordable prices, including the development of its own store-brand products like Great Value. This line aligns with Wal-Mart’s philosophy of Everyday Low Prices (EDLP), but despite its potential, the brand remains under-marketed and undervalued compared to national brands (Wong, 2011). The primary challenge is overcoming the negative stigma associated with store brands, which are often perceived as inferior quality, especially in comparison to popular national brands.

This proposal recognizes that Great Value products are at a disadvantage primarily due to limited marketing efforts. Unlike competitors who leverage extensive advertising campaigns, Wal-Mart’s Great Value line relies heavily on price competitiveness alone, which may not sufficiently influence consumer purchasing decisions. For instance, major brands like Cheerios or Fruit Loops utilize significant promotional efforts, including advertisements and sponsorships, which increase brand recognition and demand. Conversely, Great Value offers similar products, such as cereals, at lower prices but suffers from diminished demand, partly due to the lack of promotional activities. Therefore, increasing awareness and shifting consumer perceptions are essential for gaining market share and improving the brand’s standing.

Proposed Marketing Strategies

The core strategy involves elevating the visibility of Great Value through modern, dynamic marketing techniques targeted at families with children and teenagers. Utilization of social media platforms will be pivotal, engaging consumers through interactive content, contests, and collaborations with high-profile influencers demonstrating the versatility and quality of Great Value products. For example, influencers could showcase recipes using Great Value ingredients or feature tech gadgets like mobile accessories or Bluetooth speakers—potentially expanding beyond groceries into consumer electronics, similar to Amazon’s Firestick and Echo lines. This expansion aims to diversify the product portfolio and appeal to a broader customer base, positioning Great Value as a lifestyle brand rather than solely a budget option.

Furthermore, case studies from Amazon and other large retailers will be used to support the marketing plan. Analyzing Amazon’s success in expanding its private label offerings and integrating digital marketing strategies will provide concrete evidence of the benefits such approaches could bring to Wal-Mart’s Great Value line. The goal is to present this comprehensive marketing plan to key decision-makers, including the Chief Marketing Officer, the President & CEO of Wal-Mart U.S. eCommerce, and other senior managers, illustrating potential improvements in sales, consumer perception, and competitive differentiation.

Conclusion

In conclusion, revitalizing the Great Value brand through targeted marketing efforts can significantly enhance its market presence and consumer perception. By leveraging social media, influencer collaborations, and product line expansion into consumer electronics, Wal-Mart can combat existing stigmas associated with store brands and compete more effectively with national brands. Strategic case studies will underpin the proposal, demonstrating proven tactics from other retail giants to persuade decision-makers. Ultimately, a concerted branding and marketing push will reaffirm Wal-Mart’s commitment to offering high-quality, affordable products and position Great Value as a trusted, innovative brand in the retail industry.

References

• Wong, E. (2011, January 29). Why Wal-Mart’s Great Value revamp is a smart private label move. Forbes. Retrieved from: https://www.forbes.com/sites/ericwong/2011/01/29/why-wal-marts-great-value-revamp-is-a-smart-private-label-move/
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