Cultural Exchange and Marketing Strategy
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Cultural Exchange and Marketing Strategy – Walmart’s Expansion into Dubai
| Title | Cultural Exchange and Marketing Strategy | Prefered Language style | English (U.S.) |
|---|---|---|---|
| Type of document | Essay | Number of pages/words | 3 Pages Double Spaced (approx 275 words per page) |
| Subject area | Business | Academic Level | Undergraduate |
| Style | APA | Number of sources/references | 3 |
| Order description: | |||
| Now that you have your approved idea for the project it is time to begin the second part of the project, which builds on Project Part 1. Using the same company of choice that is proposing an expansion opportunity overseas, conduct research on the country. Specifically focus on the culture and cultural exchange. For the culture, review the web site http://geert-hofstede.com/ to compare the cultural differences between the countries. Identify the cultural differences and consider the cultural exchange. In addition, research and choose the best distributions method: Product/Market, Pricing, and Positioning.Identify the following: What company in Dubai would Walmart go into a joint venture to be successful? Provide detail background on the company selected.Heading Topic – Cultural differences.Heading Topic – Cultural exchangeHeading Topic – Distribution Methods Include subtopic – Product/Market Include sub topic – Pricing Include subtopic – Positioning Include subtopic- DistributionSubmission Requirements:Submit a two- to three-page Word document using 12-pt. font and APA format****References must be found in the Grantham University online library- (EBSCOhost) *** |
The organization was established in the early 1960s by Sam Walton, starting as a countryside department store with an ingenious business model: to increase the product range in the market and provide a reasonable price offering for the urban population (Qian, 2018). The unprecedented growth and expansion of Walmart can be attributed to the utilization of economies of scale and assertive adoption of information technology, all of which have afforded the business a competitive edge (Qian, 2018). Regarding its internationalization approach, the company opened its first overseas store in Mexico City by use of a joint venture with a local merchant (Qian, 2018). In its efforts to penetrate the Dubai market, a partnership with an already existing brand will be the most appropriate entry strategy. Since its inception, the supermarket chain has grown to be the most recognized and emulated retail brand in the world, selling products and services in more than 28 countries
Walmart is a business which started small and has grown into multiple stores as the years progressed. Sam looked various ways in which he could acquire the niche market. He did not focus only on one strategy of selling his products at a low price. The business went public in 1970 and started selling shares to the public, and as a result, Sam was able to expand more. Despite the increase, he continued offering quality services to the customers, and this increased the customer base even more.
The company’s overarching mission statement is “Save Money-Live Better” (Qian, 2018). Such a slogan seeks to enhance the quality of life under the Triple-Bottom-line framework that addresses the needs of the customers, the employees and those of the business itself. Through this mission statement, the firm fulfills its strategic objective of ‘saving money’ by offering low prices on its products and services. Additionally, the consumers in Dubai will likely benefit from the customer-centric approach the company has adopted through flexible and affordable pricing.
According to Qian (2018), Walmart has three subsidiaries: the US Wal-Mart stores division, Sam’s club and Wal-Mart international, each with a unique shopping experience for its customers. As stated, the business is run by a multidivisional organizational structure, with 13 distinct departments. Such a constitution enables Wal-Mart to exercise improved strategic and operational autonomy and key emphasis on products and markets.
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