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Segmentation And Target Market Essay

1156 words - 5 pages

Segmentation and Target Market
MKT 571
May 25, 2015

Segmentation and Target Market

“Wal-Mart helps people around the world save money and live better -- anytime and anywhere -- in retail stores, online and through their mobile devices. Each week, more than 245 million customers and members visit our nearly 11,000 stores under 71 banners in 27 countries and e-commerce websites in 11 countries. With fiscal year 2015 net sales of $482.2 billion, Wal-Mart employs 2.2 million associates worldwide” (Wal-Mart, 2015). Wal-Mart has a market segmentation of being a discount “big box” store with products that everyone can afford. The Wal-Mart stores also have Wal-Mart Supercenters that sell a ...view middle of the document...

3% of shoppers. Wal-Mart is not as prominent as the other contenders in the West or Northeast but stronger in the South. Regionally, 40.4 % of Wal-Mart shoppers are from southern areas (Carmichael, 2012).
The psychographic aspect of Wal-Mart is as a store to get products at a value and now that its market covers almost everything a customer could need, Wal-Mart customers will choose to go to see if it offers what they need. The psychographic aspect make up is a different aspect because most people have an image of Wal-Mart as being a discount store that more affluent customers would not associate with when making purchasing decisions. This would lead most people to think of Wal-Mart shoppers in terms of being low income.
“From our humble beginnings as a small discount retailer in Rogers, Ark., Wal-Mart has opened thousands of stores in the U.S. and expanded internationally. Through innovation, we're creating a seamless experience to let customers shop anytime and anywhere online, through mobile devices and in stores. We are creating opportunities and bringing value to customers and communities around the globe. Wal-Mart operates over 11,000 retail units under 71 banners in 27 countries and e-commerce websites in 11 countries. We employ 2.2 million associates around the world — 1.3 million in the U.S. alone” (Wal-Mart, 2015). Geographically Wal-Mart stores are international and have operations in Argentina, Brazil, Canada, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, United Kingdom and Puerto Rico. In the United States the southern states generate the most income from Wal-Mart customers
The behavioral segmentation for Wal-Mart is changing. In the past, customers wanted low prices, but now the focus is moving to customer that not only wants low prices but also value seekers. Wal-Mart has now considered that they have three types of customers, “Brand Aspirationals – people with low incomes and fixated on brand names, Price Sensitive Affluent – wealthier shoppers that love deals and Value Price Shoppers – shoppers that love low prices and cannot afford much more” (Insider Retailing, 2010). Wal-Mart will now add to its product line to cover all aspects of its customer by now having an assortment of brand names in the different departments.
Wal-Mart has a little of everything from apparel to food items and while changing its image in is advertising to the world; whether rich or poor. The previous positioning statement for...

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