Marketing Lessons Learned from Wal-Mart

February 24, 2012 in Demand Generation, Differentiation, Measurement, Processes, Product/Market Fit

• Don’t change your company’s image.

Your customers develop associations with your company and its products and services. Drastically trying to change those associations can alienate your target customers—the ones who helped to get your business where it is today.

• Use consumer data research to your advantage.

The Wal-Mart company has mastered the art of utilizing consumer data research to determine the shopping habits of its target consumers. Little information is more valuable than merely knowing where your target customers are shopping and what they are looking to purchase.

• Make your marketing techniques and product development sophisticated—but not too sophisticated.

Much like with your company image, you do not want to over-improve your marketing techniques and product development. Always strive to maintain a connection with your target consumers. By all means, improve upon your message and your product innovations. But always be mindful of who is listening to your message and purchasing your products.

Source: Suzanne Kapner, “Wal-Mart Enters the Ad Age”, Fortune, August 18, 2008, Page 30

Submit to StumbleUponSave on DeliciousDigg ThisSubmit to reddit