Contents

• Introduction 2
• Critical Evaluation of the Importance of Internal Critical Success Factors determining success/failure in Walmart’s Market Developing Planning 2
• International Market Development Approaches 3
• Evaluation of Internal Success Factors of Wal-Mart 4
• Strategic Planning and Management of Relationship Strategies as key external Critical Success Factor for Future Market Development Planning 7
• Niche market power 8
• Control over selection and maintenance of foreign customers and partners 9
• Controlling the marketing mix 10
• Conclusion 11
• References 13
• Bibliography 15

Description

Organizations adopt the strategy of expanding its business across boundaries for growth, taking advantage of the abundant resources in the foreign market and develop their own products by reducing their operational cost and to get an access to a wider customer base (Reeves & Deimler, 2011). There are several risks in international market development, which include geographic distance of the foreign market, economic condition of the foreign nation, its infrastructure, market information and relationship strategies and political stability (Chirico, 2013). Organizations also require to use their internal critical success factors effectively to establish its business in the new market. Wal-Mart Stores Inc. is a multinational retailing company, which has chain of hypermarkets, discount department stores and grocery stores. The company has 11,666 stores and clubs in 28 countries under total 63 banners (Wal-Mart, 2017). According to Fortune Global list 2016, Wal-Mart is world’s largest company by revenue (Wal-Mart, 2017). This report critically evaluates the internal critical success factors of Wal-Mart, which determine its success/failure in market development plan. It analyzes how the success factors influence their performance in the new markets. The report also critical evaluates the role of relationship strategies for development in international market in future. It discusses the strategy planning and management of relationship strategies, which will influence the success or failure of Wal-Mart in future market development planning.