|
Wal-Mart's new rebranding exercise has reinstated the old wine in the new bottle. With its new campaign - "Save money, Live better." the retailer has managed to survive and thrive, even as the US economy faces a recessionary phase. |
|
Wal-Mart Stores Inc., the world's largest retailer, has started a new brand initiative with the tagline "Save Money, Live Better." -an accolade to
its founder Sam Walton. Wal-Mart, with this strategy, has targeted those segments of the US economy which have been badly hit by the recent economic downturn.
The retail giant has changed its traditional pay-off line "Always Low Price" after almost 19 years, to the present one which focuses on the emotional aspect of the buyer. Wal-Mart, with its new tagline, is playing the role of a benefactor to its retail shoppers by driving them towards financial savings.
Wal-Mart operates 6300 stores worldwide and has an employee strength of almost 1.8 million around the world. In 2005, it recorded
a revenue of $300 bn; and on an average had nearly 138 million customers shop at its outlets every week. As of April 2008, the
company's total net sales amounted to $29.18 bn, which is an increase of 9.8% over the corresponding period during the previous year.
|
When consumers in the US were confronted with high prices for most of their essential products, Wal-Mart supported cost-conscious consumers, who preferred to consume low-cost-priced products of big retailers.
Wal-Mart's emotional marketing campaign is linked to the results disclosed by Global Insight, an economic consultancy, which reported that, on an average US consumers saved $2500 per household in 2006 due to the low pricing strategies of Wal-Mart. This prompted Wal-Mart's marketing team to revamp its comprehensive and long-paying tagline in hard times. The old tagline was specific, but the
new one promises its customers more financials benefits.
Earlier, the company's tagline was
'Always low
prices, Always.' But, when the National Review Board claimed that the tagline looked ambiguous and led shoppers to a wrong impression that all its products were priced low, Wal-Mart changed its tagline to
'Always low prices'. This paid off for almost 20 years.
Wal-Mart always looked for cheap sources of merchandise around the world and currently more than 60% of its merchandise is
imported from China and India
Buy the Full Article (1100 Words Approx) for: 1.50 USD |
Title: Wal-Mart's New Tagline for Recessionary Times
Article Code: IPMM0159
Price: 1.5$ (US Dollar)
|
|
From: Marketing Mastermind,
Sep 2008, Icfai University Press |
|
You will be directed to PayPal. Payment can be made using MasterCard, Visa, American Express and Discover cards. You need not have a PayPal account to make payment. After your payment is received, we will e-mail the article to you within two working hours. If your order is placed outside our working hours or on a holiday, the article will be e-mailed to you on the next working day. For our working hours and list of holidays, please click here.
|
|
Link to your site
| Invite a Friend
| Free Email Alerts
|
|
|
