Research Paper Example: Analyzing the Rebranding of Walmart

2021-07-20 05:41:04
5 pages
1155 words
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University of Richmond
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Research paper
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Walmart started as a small single discount store but it is currently ranked as the largest retailer globally and in more than 27 countries having with over than 11,100 stores. Over the last 50years growth of the Company, it has recorded as many as 260 million customers who shop every week at Walmart. Walmart Company does offer an assortment of services and all merchandise at Everyday low prices. The Walmart Company has three segments it operates through like the Walmart U.S, Walmart International, and Sam's Club. The three segments all have different delivery of merchandise or services offered. From statistics in the S&P 500 Index (SPY), it is ranked at the top ten organizations owning a market cap of $275 billion and more. Walmart is a multinational retail corporation in America operating as a number of grocery stores, discount department stores, and hypermarkets. Walmart stores were initially founded in 1962 by Sam Walton and have their headquarters based in Bentonville, Arkansas. According to Fortune Global 500 listing in the year 2016, Walmart as being the largest company as it is, it recorded revenue totaling to US$480 billion. Walmart, not only booms in being a retailer but also is depicted as a leader in sustainability, with employment opportunities and seen as a corporate philanthropy. Worldwide Walmart does employ at most 2.3 million associates. Walmart stands out with a mission to being part of the unshaken commitment to the creation of job opportunities and offering value to all their customers all over the world. Walmart Company has long stood out as the largest retailer with its competitors being Costo and BJ's Wholesale Club.

Today Companies evaluate their marketing strategies continually to keep up with changing needs. From evaluation from the marketing team Companies, it, therefore, maintains the focus in modification it could be rebranding their product identity to better achieve the set objectives. A case like Walmart it worked on the rebranding aspect and initially had its rebranding in all ideas of the in-store experience. Its experiential designs were rebranded to position a feel of smartness or happiness of the everyday choices by customers at Walmart (LeCavalier, 2013). Ultimately such amendments from the great visuals created a different shopping experience for their customers. Walmart also went ahead to rebranding it stores megabrands that for long had been drawing much of unflattering similarization to generic brands. Rebranding added great value to Walmart Company and aimed at setting a distinct look to the brand and identity. The other objective the rebranding to such brands did was that it upgraded its overall image that displayed the Company valued the quality of products Walmart had in the market. Walmart had its services rebranded following the rebranding on its logo that featured a brilliant Spark to any customer who spots it. The Spark on the logo goes further to spear in emotions at the sight of it; it quoted Save Money, live better. It only reasons to customers that shopping experience at Walmart does not only see the value, but the new animated rebranded logo also wants not less a compromised life for its customers but that which is better.

The new direction of Walmart rebranding as compared to original marketing strategies that earlier was used, marks as a game changer for Walmart Company. It is because the approach has pivoted the company to become the largest retailer following the expansion entirely from the customer base; it has also given its shoppers a new amazing experience, and a completely new merchandise mix. Walmart Canada took the direction of rebranding upon the discovery that its brands typically did not meet the set target customers. Walmart felt the urge to rebrand to give room to meeting target customers by not only from demographic information on its brands but have more of that information. The Company went forth to initiating that all marketing materials should bear the new tagline of Save Money, Live better accompanied with the logo that will then be redesigned as per the Company's' new direction. The new direction by Walmart does not only come in as a marketing strategy but more so a business principle. The redesigned logo goes ahead to make the customers feel as though Walmart meets their expectations of saving more money and having them use their money for meeting the other life priorities. The rebranding aspect has impacted a major turn out of customers who shop at Walmart.

Alternatively, the original marketing strategy did also help in making the big revenues for Walmart but with competitors like Costo Company. The new Company direction has brought in even much more revenue for the Company making it stand out amongst its competitors. The new direction has seen the Company go along way inputting many resources into the brands especially also from the higher-end products. It goes a long way in increasing emphasis to customers of their delivery to quality with extensive testing to bargained costs on kinds of stuff like towels or sport wears. Rebranding has significantly had Walmart staff up developments on brands like baby care pieces of stuff from strollers to baby wipes. Its packaging has been different following the new marketing direction strategy and that has won online and offline customers (LeCavalier, 2013). The new direction compared to original strategy has had Walmart image refreshed thus improving the connection with customers. The Company performance has depicted much performance from most of all its operations from products to services. The ratings in years 2008 and 2010 have had rates from customers leveling the experience at Walmart as being fast, clean and friendly. The changes come after Walmart brand revitalization (Yakimova et al, 2016).

From a personal perspective, I totally agree with new Company direction of the rebranding marketing strategy. It is because that comes along with so many benefits to the Company. Rebranding has had brands at Walmart refreshed yet maintaining its brand equity; the change has impacted a big difference following the new customers' perceptions of the brands resulting in big sales. For instance, the previous logo focused on low prices, but after rebranding the logo, it read Save Money, Live Better. The message reached all globally how Walmart valued the customers' lives by seeing off their customers saving money from their purchases. It made a huge difference to how the customers felt concerning the whole issue of shopping at Walmart. It, therefore, attracted a big number of customers and had the loyalty of their old customers maintained as well. The rebranding strategy as the new direction by Walmart ultimately proves tremendous success on the big sales it has brought along. Walmart eventually takes the crown as being one among the Company whose new direction has benefited the Company greatly.

 

References

LeCavalier, J. (2013). Walmart Store# 5861: Warrenton, Oregon, 2012. Journal of Architectural Education, 67(1), 154-155.

Yakimova, R., Merrilees, B., & Miller, D. (2016). Engaging Internal Stakeholders: Revitalizing Community Organizations Through Rebranding. In Looking Forward, Looking Back: Drawing on the Past to Shape the Future of Marketing (pp. 764-771). Springer, Cham.

 

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