which of the following is not a part of the four ps strategy course hero

What are the benefits of the 4 Ps?

Proper utilization of the 4 Ps provides a company with a solid foundation for success Price List Price Discounts Payment Terms Financing Promotional Pricing Product Appearance Quality Packaging

What are the 4 Ps of price management?

The 4 Ps are directly related decisions cannot be made about a product, without also considering the relationship of price decisions cannot be made about promotion without understanding the importance of place Proper utilization of the 4 Ps provides a company with a solid foundation for success Price List Price Discounts Payment Terms

What are the different levels of corporate strategy?

E. corporate strategy, divisional strategies, and departmental strategies. In single-business companies, the corporate and business levels of the strategy-making hierarchy merge into a single level—business strategy—because the strategy for the entire enterprise involves only one distinct business.

What are the limitations of the 4 Ps of marketing?

Limitations of the 4 Ps The marketing mix specifically applies to companies with physical products and often limits Internet and service-based organizations By grouping marketing decisions into four broad categories, it is difficult to distinguish between specific activities such as financing, branding, shipping, etc.

What is Walmart's pricing strategy?

Prices and Pricing Strategies. In this element of the 4Ps, Walmart uses an Everyday Low Price (EDLP) pricing strategy as a factor in the company’s revenue model. The objective of this pricing strategy is to attract large numbers of customers to achieve high sales volume and, consequently, a profitable business. High sales volume ensures profitability despite thin profit margins and low selling prices linked to Walmart’s cost leadership generic strategy for competitive advantage. Thus, in the marketing mix, the pricing component is a contributor to the company’s competitiveness in the retail industry. In addition, Walmart uses market-oriented pricing as a strategy for many of its products, such as house-branded goods, as well as media content available from the movie-streaming subsidiary, Vudu. Furthermore, the flat-rate subscription pricing strategy is used in the marketing mix, for unlimited deliveries, especially involving purchases on the company’s e-commerce websites. It is notable that changes in this marketing mix element relate to the market trends shown in the PESTEL/PESTLE analysis of Walmart Inc. The retail enterprise adjusts its pricing models in response to such trends. In summary, this element of Walmart’s marketing mix involves the following pricing strategies: 1 Everyday Low Price (EDLP) 2 Market-oriented pricing strategy 3 Flat-rate (fixed-rate) subscription pricing strategy

What is Walmart's 4P?

Walmart Inc.’s marketing mix or 4P (product, price, place, promotion) supports competitive advantage in the retail industry, despite major e-commerce competitors like Amazon. (Photo: Public Domain) Walmart Inc.’s marketing mix or 4P revolves around the nature of the retail business, its strategic goals, and industry situation.

What is Walmart's cost leadership strategy?

Walmart’s cost leadership generic strategy for competitive strategy, along with the company’s intensive growth strategies, influences the definition of this marketing mix. The 4Ps are linked to the company’s strategic choices as one of the biggest retailers in the world. This marketing mix is part of Walmart’s strategic plans to grow globally.

What is Walmart's primary product?

Product. Walmart’s primary product is its retail service, including retail service fulfilled through e-commerce. The company also offers on-demand digital content streaming services, as well as house brands or private-label brands, such as Great Value and Sam’s Choice. Considering the core contribution of retail services in Walmart’s business, the product element of the marketing mix attracts customers by providing convenient, effective, and efficient services. For example, sales personnel are trained to assist shoppers in finding the goods they need at the company’s stores. The significance of human resources in this marketing mix element means that Walmart’s corporate culture plays a critical role in supporting the strategic management of the business. Shoppers expect easy one-stop shopping at the company’s stores and e-commerce websites. Thus, in this business aspect, the marketing mix partly defines customer experience and satisfaction in Walmart’s services.

Is Walmart a 4P company?

On the other hand, the place element of Walmart’s marketing mix has sufficient distribution channels, in tandem with strong e-commerce websites. The 4P is effective, but a recommendation is to increase business presence in other countries to bolster the company’s global competitive advantage in retail and e-commerce.

How many steps are there in strategic management?

The process consists of the five steps outlined in Figure 2.1. Management's decisions that are made in the strategic management process are shaped by the prevailing economic conditions and competitive environment and the company's own internal resources and competitive capabilities, also shown in Figure 2.1 and described in detail in Table 2.1.

What is strategic inflection point?

When a company reaches a strategic inflection point, management has tough decisions to make about the company's direction because abandoning an established course carries considerable risk.

What are the steps of the strategic vision process?

Figure 2.1 displays this five-stage process: (1) developing a strategic vision, (2) setting objectives, (3) crafting strategy, (4) implementing and executing the chosen strategy, and (5) evaluating and analyzing the external environment and the company's internal situation and performance.

What is the difference between a mission statement and a strategic vision?

A. a mission statement typically concerns a company's present business scope ("who we are and what we do"), whereas the principal concern of a strategic vision is with the company's future business scope (long-term direction and future product-customer-market-technology focus). A company's values concern.

What is strategic vision?

A clearly articulated strategic vision communicates management's aspirations to stakeholders about "where we are going" and helps steer the energies of company personnel in a common direction.

What is the purpose of a competitive action?

E. actions to strengthen competitive capabilities and correct weaknesses, actions to strengthen market standing and competitiveness by acquiring or merging with other companies, and actions to enter new geographic or product markets.

Is strategy an ongoing process?

A company's vision, objectives, strategy, and approach to strategy execution are never final; managing strategy is an ongoing process, not an every-now-and-then task. B. decide whether to continue or change the company's strategic vision, objectives, strategy and/or strategy execution methods.