Marketing Mix

Marketing Mix

MKT/421

February 20, 2012

University of Phoenix

Marketing Mix

Marketing is important to any organization small or large. It gives the organization the chance of promoting new products and services, and brings in more customers. “Marketing is the performance of activities that seek to accomplish an organizations objective by anticipating customer or client needs and directing a flow of need-satisfying goods and services from product to customer or clients” (Perreault, Cannon, & McCarthy, 2011, p.6). The purpose of the paper is to select an organization and describe the elements of the four P’s of the marketing mix. The paper will describe how each of the four elements of the marketing mix impacting the organization’s development in marketing strategy and tactics. The paper, based on the marketing mix will describe the implementation of each element.

The History of Walmart and the four P’s of the marketing mix

In 1962, San Walton became the founder of Walmart, and opened the company’s first discount store in Rogers, Arkansan. In 1968, the first full-time pilot was hired; who provided help to Sam was well as the opening of the first stores in Sikeston, Montana, and Claremore, Oklahoma. The first company officially incorporated Walmart stores Inc. on October 31, 1969 (Walmart Timeline, n.d). Walmart serves customers and members more than 200 million times per week at more than 10,020 retail units under 60 different banners in 28 countries. With fiscal year 2010 sales of $405 billion, Walmart employs 2.2 million associates worldwide (Walmart, n.d). Walmart has also been able to build different stores around the United States. Walmart has opened many stores around the country where consumers can shop. Some of these are the Walmart Discount stores, Walmart Supercenter, Walmart Neighborhood Markets, and Walmart Express Stores.

Throughout the years, Walmart has used the four P’s of the marketing mix (product, price, promotion, and place) in...