Mkt/421 Marketing Plan

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Marketing Plan: Phase III MKT/421 Marketing April 2013 Marketing Plan: Phase III Wal-Mart implementing this new service of express clinics will require a very detailed plan to ensure continued success. In this marketing plan we are going to describe the attributes of the service in detail. We will also discuss at which pace it is going to move through the life cycle and the affect this is will have on marketing. We will also identify positioning and differentiation strategies, as well as the appropriate price strategy. Some of the attributes Wal-Mart has in offering this new service is its large customer base. Wal-Mart has a reputation for being known to offer the lowest prices, being family friendly, and geared towards saving…show more content…
Wal-mart will market their clinics based on low price and faster service. This metric is important to the target audience of mother’s. Mother’s control 80% of household spending, (“Wal-Mart's mom-in chief targets millennial mothers,” 2011). Mother’s have more responsibilities than in the past and the need to do more in less time will tie into the value proposition of more for less. Less in this marketing strategy is for less time and less money. This element is also a needed element in the value proposition. In order for a company to have a successful value proposition, it needs to quantify the value, state the relevance to the target market, and state the unique…show more content…
The appropriate price strategy for this endeavor is the penetration strategy. A penetration pricing strategy is used as a loyalty-building or market-entry tool (Armstrong & Kotler, 2011). The penetration pricing strategy offers a high-quality product at a much lower than expected price (Armstrong & Kotler, 2011). This combined approach will help Wal-Mart enter the express clinic market even when strong competition exists such as CVS Caremark, Acme ExpressCare Clinics, and Walgreens newly introduced Take Care Clinics. The penetration price strategy also favors Wal-Mart’s business approach of low costs products and services. Wal-Mart customers’ expectations are quality products and services at a price that is marginally lower than the competition. The penetration strategy can significantly increase the lifetime value of customers, because they are “hooked” with the outstanding initial service offering. This approach also provides Wal-Mart with the additional business to remain in the maturity phase of the product life

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