Influence Of Culture On The Development Of Wal-Mart Marketing Strategy
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Introduction and research question: Laying out the appropriate context for the study. Identifying and
justification of the explanatory variables and dependent variables. Identification of the problem, awareness
of industry trends.
Literature awareness: Identification of key literature/authors of the topic: classics; landmarks; most recent
Empirical content: Justification of data type and approach to data collection. If primary data: Types of
interviews to be conducted, sampling method and size, will pre-testing be done, identification of and
solutions to potential problems; reasons for methodological choices made; accuracy, completeness, level
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Conclusions Findings: Possible outcomes or contingencies identified and briefly discussed.
1. Background of the study
The present report is focusing on the Wal-Mart marketing strategy which is playing a vital role in making the business successful in the market. However, development of marketing strategies depends on different factors and culture is one of those factors. Culture influences marketing strategies to the larger extent (Fathoni and Rodoni, 2018). If the advertising campaigns of different companies are considered, it can be noticed that the campaigns are changed based on the culture of the customers (Song et al., 2018). For example, if Toyota Motor's 2018's advertisements in India and in the United States are considered, it can be noticed that the advertisement that the company has developed for Indian customers are focused on family bonding or collectivism. On the other hand, the advertisement that has been developed for the customers in the USA is focused on the individualism culture. It means the culture of the countries have influenced the company developing advertisements. However, in this context, it is necessary to mention culture is a complex matter to be understood. Sometimes different features of culture create illusion to the companies, which makes difficulties for the companies in terms of developing marketing strategies (Larentis et al., 2018). For example, in the Indian market, companies find different people with different language and native culture and in such type of market, it is difficult for the companies especially the foreign companies to understand how to incorporate culture within their marketing activities. Considering this fact, this study is going to investigate the influence of culture on the development of Wal-Mart marketing strategy from the perspective of company's business in Indian market.
2. Problem statement
The major area of problem that will be considered during the investigation is the complexity in understanding the Indian culture in terms of retail marketing. Existence of several cultures in has created challenges for the foreign companies like Wal-Mart in terms of attracting customers through marketing activities.
3. Aim and objectives
The aim of this study will be to evaluate how culture can influence the marketing activities of the retail multinational companies and to understand the key factors that must be considered by the multinational retailers at the time of incorporating culture in their marketing activities.
The objectives of the study will be as follows:
- To evaluate the relationship between culture and marketing activities of the retail multinationals
- To identify and evaluate the positive impact of incorporating culture in the marketing activities of the retail multinationals like Wal-Mart in the context of Indian market
- To determine the barriers that the company faces in incorporating Indian culture in Wal-Mart marketing strategy development
- To recommend some strategies that can help Wal-Mart in terms of understanding and incorporating Indian culture in marketing activities
4. Research questions
- How culture and marketing activities are related in business context?
- How culture can positively influence the marketing activities of the retail multinationals like Wal-Mart?
- What are the barriers that the company faces in incorporating Indian culture in Wal-Mart marketing strategy development?
- What are the needful strategies that can help Wal-Mart in terms of understanding and incorporating Indian culture in marketing activities?
5. Literature review
Concept of culture
Culture is the combination of ideas, values, customs and behaviour that is followed by individual or group of individuals within a society or country or region. Culture is developed by the knowledge, beliefs and experiences of the people. Fathoni and Rodoni (2018) stated that culture is the summation of learned behaviour that people follow as their tradition. On the other hand, Wirtz and Lovelock (2016) has explained culture as the collective programming of human mind that differentiate one group of individuals from other groups. Therefore, from different types of explanations, it can be understood that culture is a very important factor that can help in understanding the behaviour of people. Moreover, it can also be stated that it is a key factor that plays the most important role in the development human characteristic.
Importance of culture in the context of organizational strategy developments
According to Copuš and ?arnogurský (2017), culture is a very important factor for the business organizations in modern era. Culture influences the choice of the people. It means purchase decision-making by the customers depends highly on their culture. Therefore, from this perspective, it can be stated that if the companies do not focus on the culture of the customers, they cannot understand the demand pattern in the market and as a result they cannot develop effective strategies (Larentis et al., 2018). On the other hand, if the companies emphasizes on the cultural factor, they can understand the differences between customers' choices and based on that they can develop strategies for attracting the customers. Hence, it must be stated that culture is important for the development of Wal-Mart marketing strategy.
Research design and approach
This research will be conducted using explanatory research design because this design will help to explain the relationship between marketing and culture in a better way (Mackey and Gass, 2015). On the other hand, the research will follow the deductive approach because deductive approach will create the scope of conducting the study following specific questions of the research (Kumar, 2018). At the same time, deductive approach will help to complete the investigation within limited time.
Which data collection method is used to prepare this Wal-Mart marketing strategy?
Data for this study will be collected from primary sources. Survey method will be followed for collecting research data. Survey will be conducted online because of time constraints. Survey will be conducted with the employees in the marketing department of Wal-Mart.
For conducting the survey sampling will required to be done. Sampling will be done following the probability sampling method because the available population will be large. Questionnaire for the survey will be sent to 300 employees in Wal-Mart and it is expected at least 100 feedbacks will be received as sample.
Data analysis technique
Primary data of this study on Wal-Mart marketing strategy will be analysed using descriptive statistics method. It means quantitative analysis technique will be used for analyzing research data. This method will help in easy data analysis in mathematical way.
Copuš, L. and ?arnogurský, K., 2017. Wal-Mart marketing strategy Intercultural marketing: Culture and its influence on the efficiency of Facebook marketing communication. Management & Marketing, 12(2), pp.189-207.
Fathoni, M.A. and Rodoni, A., 2018. The Impact of Corporate Culture on Marketing Performance. Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam STAIN Kudus, 11(1), pp.129-154.
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications Limited.
Larentis, F., Antonello, C.S. and Slongo, L.A., 2018. Organizational culture and relationship marketing: an interorganizational perspective. Revista Brasileira de Gestão de Negócios, 20(1), pp.37-56.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design. Routledge.
Song, R., Moon, S., Chen, H.A. and Houston, M.B., 2018. When marketing strategy meets culture: the role of culture in product evaluations. Journal of the Academy of Marketing Science, 46(3), pp.384-402.
Wirtz, J. and Lovelock, C., 2016. Services marketing. Wal-Mart marketing strategy World Scientific Publishing Company.