Discussion on Walmart brand strategy
Task: Consider a brand that in your opinion has an issue with its brand perception. It does not matter which brand this is, if it is a rather large company which allows you to find enough information about it online.
Please to fulfil the following:
I. Determine the (grand) strategy of the brand using the frameworks as discussed in day 1.
II. Determine campaign-level objectives and kpi's (Ppt day 1 and 2). (USE MODEL FOR YOUR BRAND)
III. Determine communication (integrated) media as discussed in days 2 and 3.
To answer the above questions correctly, go through the presentation and I insist to do so, as this will help to recall the concepts and implement in your work that we learned in the class.
Walmart brand strategy is a course of action that is implemented by every sector to increase their product sale value. Walmart is a big giant in the retail industry always focus on the branding strategy and the relevant framework.It helps to improve their product value on the International market. Walmart brand strategyhas its footprints on both the food retailing and fashion retailing industry.
2. Determination of the Strategy that needs to be implemented in the brand
2.1 Identification of the frameworks for branding Strategy
The framework of the branding Strategy helps to redefine the process of branding and provide effective methods for branding to the Companies of the retail industry like Walmart brand strategy. Four major Frameworks have been discussed to extract the major framework that will be helpful for Walmart brand strategy.
a. Framework based on the relationship of Brand Equity value of the Customer and Social Media
The Brand Equity value of the Customer needs to be analyzed especially in the case of the retail industry.The relationship with social media is needed to increase the brand equity value of the product (Colicev, Malshe, & Pauwels, 2018). Walmart is an international brand and thus, creating a framework for Walmart brand strategyis not an easy task. The brand equity value decides the path of branding that can help increase the sale of the business (Colicev, Malshe, & Pauwels, 2018).
b. Framework based on the proliferation of private label in Food Processing
As Walmart brand strategyis related to the Food Retailing Industry, thus the framework based on Food Processing is also taken into account. The private labels have begun to proliferate in recent decades (Olbrich, Hundt, & Jansen, 2016). Walmarthas a great emphasis on private labelling. Walmart brand strategydoes not have a manufacturer license and thus they focus on private labeling (Olbrich, Hundt, & Jansen, 2016). The private labeling concept in food retailing will result in increasing the sale and the brand value of the Product.
c. Can you discuss about the framework based on Sustainability of Walmart brand strategy? Sustainability is an essential factor in the fashion retailing industry. It helps to increase the brand value of the product for a long term approach (Yang, Song, & Tong, 2017). The opportunities of the retailing are increasing on e-commerce platforms and thus, ensuring sustainability. The concept of green branding along with reverse logistics techniques helps to increase the area of scope (Yang, Song, & Tong, 2017). The sale of the Retailing industry will increase along with its brand value.
Figure: - Table showing the E-commerce business and its characteristics (Yang, Song, & Tong, 2017).
d. Framework based on Retailer Brand Equity
The Brand Equity Framework for the retailers have specific dimensions for increasing their sale (Keller, 1993). According to the framework, it canbe suggested that the brand equity value can be increased in the retail industry through specific steps (Anselmsson, Burt, & Tunca, 2017). The steps will actas the definite models that can help sequence the barn equity value of the industry. The framework has been designed in a logical approach so that it could support an additional dimension (Anselmsson, Burt, & Tunca, 2017).
2.2 Implementation of the framework for branding Strategy
After studying the four different framework styles, it can be concluded that the best framework needs to be installed in the Company. The Framework is “Retailer Brand Equity” that will be operated in three ways (Anselmsson, Burt, & Tunca, 2017). The three ways can be defined as the three models in the framework that will help to define the strategies of the branding theory in the Industry. The three models for Walmart brand strategyare listed below: -
1. Incorporation of specific dimensions from the view of retailer literature.
Figure: - Architectural diagram of model 1 (Anselmsson, Burt, & Tunca, 2017).
2. Developing and re-examine the structures that are needed for the dimensions. The relationships in the dimensions for the retailer equity for generating new structures in the branding strategy. The strategy will help to judge the testing alternatives regarding brand equity. The brand equity literature helps to set the specific dimension of the structures of brand equity.
Figure: -Architectural diagram of Model 2 (Anselmsson, Burt, & Tunca, 2017).
3. The parsimonious scale in assessing the brand equity of the retailer based on a different context. These models if implemented in the Organization will help to provide effective results in the strategic branding.
Figure: - Architectural diagram of Model 3 (Anselmsson, Burt, & Tunca, 2017).
3. Determination of the KPI’s and Objectives of Campaign-level
3.1 Listing the KPI related to the brand (Walmart brand strategy)
Key Performance Indicators
Improving the strategy techniques for increasing the sale of the Products
The sale of the products will get increased as the techniques will help to promote the product. It will also attract a greater number of customers and helps in the expansion of the Company in the international market.
Attaching unique features to the Product for describing it.
Customers always want to get an overview of the product. It helps them to choose the product wisely. It can be done only by attaching some description with the product. It will give an idea about the product to the customer.
Increasing the brand equity value that helps in maintaining the sustainability of the product
Increasing the brand equity value on the specific business always gives a positive result to the Organization. It helps to increase the branding value of the Company in the market. Walmart brand strategyis a big giant need to be the focus on brand equity for increasing their business. Relevant models need to be used.
Segmenting customers according to the behavior for catching their attraction towards the Product.
Customer segmentation is needed for every business. Companies cannot satisfy all the customers at a time. Companies thus segment their customers especially the retail companies. Walmart brand strategycan launch products by knowing its customer's demand.
3.2 Identification of the Campaign-level Objectives
The Company needs to identify its Campaign-level Objectives and it must be executed for increasing the branding strategy.
The Objectives are listed below: -
- To study the factors that can increase the branding value of the Company.
- To address the issues that can form barriers in increasing the branding value of the Company.
- To make a checklist every week about the new techniques that have been applied for increasing the sale.
- To promote the product through various distribution channels for increasing the sale of the Product.
- To implement sustainable models according to the framework discussed for increasing the branding of the Company.
4. Determination of the Communication tool for the Brand
4.1 Discussion of the different communication tools
Several Communication tools can be used for business purposes. More or less all tends to produce some benefit to the users. Some communication tools use the latest technologies for providing effective results and some use traditional methods. The four major communication tools have been discussed below: -
The electronic mail is referred to as "E-mail" in short form. It helps the users to send the information through the electronic model on the Internet. Through "E-mail", users can send their relevant information to the destination or client (Kannan, et al., 2016). It is an inexpensive system of communication through which two or more users can share their information in a single window.
b. Minutes of Meeting
It is an offline technique of communication that helps to note the various records related to the respective meeting. The meeting needs to be scheduled properly so that every person in the company can attend that meeting (LINK, 2018). Minutes mainly consist of issues, responses from the employees, and final decisions. It helps the beginners in the Company to acquire knowledge from the experienced and apply it to the practical field.
c. Text messaging
Text messaging is an act of sharing electronic messages within two users through cellphones. Traditionally text messages mean only sharing text over the phone (Pantano & Gandini, 2017). However, with the advancement of technology, users can now share pictures and links through text messages. This type of test message is referred to as a multimedia message.
d. Social platforms
Social Media is the online way of sharing data through the internet. It is an interactive way of sharing data through a secured medium. Social Media has been inbuilt with the latest technological tools for providing great services to the users (Walker, Mercea, & Bastos, 2019). It is an inexpensive service and provides great solutions to the users in their business purpose.
4.2 Implementation of the best Communication Tool for the Brand
Social Platforms is the best communication tool among others for providing great services to the users. Walmart being a big giant in the international market comprises a complex communication network (Walker, Mercea, & Bastos, 2019). Managing the market needs the latest structure of communication tools through which one connects to others or the team efficiently. Through Social Platforms, the Company can share their product-related post and promote the product on the international market (Walker, Mercea, & Bastos, 2019). It will help the Company to get more customers worldwide. As a result, the Company can improve its branding worldwide.
The report has stated on increasing the value of Walmart brand strategythrough framework and models. The various frameworkshave been discussed and among them, the relevant framework has been used. The framework will help to increase the value of the Walmart brand strategyin the International market. The need for models has also been stated in the KPI’s and objectives. The communication tools have been discussed to extract the right medium of communication tools.Social Platforms as the Communication tool will help to provide effective solution to the Walmart brand strategy.
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LINK, E. (2018). Meeting Minutes.
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Walker, S., Mercea, D., & Bastos, M. (2019). The disinformation landscape and the lockdown of social platforms. Taylor & Francis.
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