walmart :: essays research papers

Relationship merchandise King Wal-Mart Still none 1The economists are still telling us how bad the U.S. frugality is, but dont say anything about the bad economy to your local Wal-Mart greeter. His or her employer incisively witnessed revenues grow by 12 percent in 2002, to $246.5 billion. He or she will probably proudly let you know that Wal-Mart Stores Inc. was just ranked number oneagainby Fortune magazine, prima(p) the top 500 corporations for a second year in a row. How do they do it? Sam Waltons 1992 book Made In the States has all the details, but let me sum up Wal-Mart knows relationship marketing. draw rein No. 8 of "Sams Rules for Building A Business" holds the secret to this good-natured fermentula of success. He says, "Let them (your customer) know you appreciate them." So what has Wal-Mart make to show that they appreciate their customers? They use one-to-one relationship marketing tactics, punish by the famous Wal-Mart greeter. The Wal-Mart gr eeting was the original method used by the giant retailer to show customers that they are appreciated. A greeter at the door thanks customers for coming in, assists with a shopping cart, and provides a " adios thank you" upon departing the store. The friendly senior citizen dressed in the blue commit conveys warmth and personality to every guest entering or exiting a Wal-Mart store. So why dont others adopt this simple marketing tactic? close to do. Meijer retail stores also use greeters many restaurants, hotels and other businesses do the same. still most dontbecause relationship marketing is not as simple as it seems. It takes a type of commitment different than traditional marketing. Relationship Marketing Has 4 Key ComponentsIt has to be personalized. Personalization can come in the form of a highly targeted direct mail piece, a phone crab or email. Obviously the handshake and a smile illustrated by Wal-Mart greeters also work well in personalizing the relationship. It has to be targeted. Wal-Mart invests money in maintaining relationships with vivacious customers. By targeting this group, Wal-Mart make believees long-term relationships with their most loyal shoppers. Targeting customers through programs that reward committedness can result in big returns over the life of the customer. It has to be meaningful. Your marketing message has to connect in an emotional way to establish a immutable relationship. If the Wal-Mart greeter did not look you in the ticker while saying "hello," the greeting would not have a lasting impact.