How Walmart can position their brand in the minds of consumer?
Business Finance
Answer should be one single-spaced page in length.
- Walmart is the largest retailer in the world with overall sales nearing $500 billion. In fact, Walmart is still more than 3x the size of Amazon (~$155 billion) in terms of overall sales. However, one area where Walmart ($60 billion) struggles to match Amazon ($151 billion) is in terms of its Brand Equity. Put yourself in the position of the senior brand manager for Walmart and use the associative network model to develop a new brand strategy for Walmart. This should describe in detail how Walmart can position their brand in the minds of consumer to increase its overall value (i.e., positive feelings). You can create any new brand strategy EXCEPT USING A BRAND SPOKESPERSON.
To answer this question effectively, you will need to address the following components:
What is brand equity and how does it work?
What is the associative network model and how does it work?
What is the current brand image of Walmart (in your mind) and what are the key anchor points it makes to preexisting consumer’s perceptions?
What is the key marketing strategy that you designed and how does it build positive memory networks in the mind of the consumer?
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