Walton Group: Creating Success with Innovative Strategic

Marketing

Group Information

Name Student ID
Labib Irfan Chowdhury 22304159
Shahida Akter 22204086
Masira Yaqub 22204072
Md. Abdul Kader Abir 22304121
Md. Rakib Uddin 22304134
Araf Rahman Saad 22304064

Group Leader’s Information

Email Contact Number

labib.irfan.chowdhury@g.bracu.ac.bd +8801308791394

Course Name: Principles of Marketing

Course Code: MKT201

Tanzin Khan
Senior Lecturer
BRAC Business School
MKT201 (Principles of Marketing) _Term Paper_ Walton Group

TABLE OF CONTENTS
Abstract 2
Learning Outcomes 2
Introduction: 3
Company Background: 4
Marketing Process: 4
Needs: 5
Wants: 5
Demands: 6

Needs, Wants and Demands of Walton Group: 8

SWOT Analysis: 10
Strength 10
Weakness 10
Opportunity 11
Threats 11
Business Analysis: 12
4P in Walton Group for marketing 12
Geographic 13
Demographic 13
Psychographic 13
Behavioral 14
Marketing Management Orientation: 14
Production Concept: 14
Product concept: 14
Marketing concept: 14
Discussion Questions 15
References 16
Teaching Notes 17
Case Summary 17
Teaching Objective 17
Target Audience 18
Discussion Questions & Answers 18
Further Readings Reference 24
References 24

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Case Content (First Part)

Walton Group: Creating Success with Innovative Strategic Marketing
Abstract

Walton Group has become a well-known conglomerate in Bangladesh's dynamic commercial

environment, making a lasting impression thanks to its innovative marketing initiatives. This
case study explores the exciting story of Walton Group's marketing development, analyzing the
various components that led to its rise from a regional player to a national and global force.
The abstract shows the conglomerate's creative marketing approaches that have improved
customer perceptions in addition to the brand's presence. The path of the Walton Group is
evidence of the convergence of vision, flexibility, and a customer-focused as the business has
effectively adjusted its solutions to a variety of market groups. This case study investigates the
significant marketing turning points that enabled Walton Group's rise. It examines how the
company effectively uses digital platforms, develops communication plans, and diversifies its
product offerings. This case study offers priceless insights into the changing environment of
current marketing in a developing economy through a comprehensive investigation of Walton
Group's marketing successes, problems, and initiatives.Readers are encouraged to take an
insightful journey through the marketing report of the Walton Group, learning the crucial
lessons that can be drawn from both its successes and failures.

Learning Outcomes

Learning outcomes from a case study on Walton Group’s effective marketing and management
practices in the online news industry:

● Understanding how to create a special value proposition that distinguishes a company's

goods or services in a competitive market
● We will look at how Walton develops items that people desire, attracts devoted
customers, and keeps customers happy through their offerings. We'll also look at how
Walton's distinctive method identifies products that are both economical and inventive.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

● Analyzing how data-driven analytics may be used to locate and target a company's ideal
consumer
● Exploring practical marketing strategies to broaden a company's local and international
reach in the global market
● Extracting Walton's Valuable Insights for Business Success: Connecting Online and
Offline Adaptability and Sparking Innovation Across Industries.
● Analysis of client feedback, optimization of acquisition tactics, and alignment of growth
strategy with consumer preferences for improved satisfaction.

These learning outcomes could be adapted for certain educational or professional contexts, but
they provide a good place to start when figuring out what might be gained from looking at
Walton Group's marketing and management strategies in the electronics products industry.

Case

Introduction:
Walton is a well-known brand of consumer electronics and home appliances from Bangladesh
that has garnered popularity. Walton is now regarded as one of Bangladesh's top electrical
equipment producers and sellers. The company manufactures a range of products, including
mobile phones, computers, air conditioners, televisions, refrigerators, and other home appliances.
Walton has gained popularity among Bangladeshi customers for its low prices and locally
produced goods. The brand is committed to providing high-quality goods that satisfy the
demands and tastes of the regional market. Walton has increased its product offerings and retail
presence throughout time, helping Bangladesh's electronics industry thrive.
Company Background:
Walton is a top leading electronic brand in Bangladesh. S.M Nurul Alam Rezvi founded this
company in 1977. It is a public limited company.Walton headquarter is located in
kaliakair,Gazipur.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

The key people of this company are-

1.S.M Nurul Alam Rezvi ( chairperson)
2.Golam Murshed ( MD)
3.Muhammed omar Faruk Ripon (CFO)
4.Aminul Islam khan ( senior Executive director)
Product list of walton -
1.Refrigerator and freezer
2. Ac
3.Television
4.Smart phone
5.Feature Phone
6.Computer
7.washing Machine
8.Elevator
9.Compressor
10.Generator
Brand List-
1.walton Motors
2.Walton Mobile
3.Walton Electronics
Revenue -760million USD (FY2022)
Operation income - 170 million USD (FY2022)
Net income- 110 million USD (FY2022)
Number of Employees - 30,000

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Marketing Process:

Source:https://www.iedunote.com/marketing-process

According to Dey, G. S. Walton's marketing process seamlessly integrates the five essential
elements of successful marketing, ensuring a customer-focused approach that resonates
effectively.
First, Walton's keen understanding of the marketplace and customer needs is evident in their
diverse product range, which includes energy-efficient appliances like refrigerators and
motorcycles that align with evolving consumer preferences.Second, their customer-driven
marketing strategy is clearly visible through their product lineup, catering to a wide array of
needs and desires. This approach is further strengthened by their advanced air conditioners and
smart televisions, designed to provide value and satisfaction.Third, Walton constructs an
integrated marketing plan that delivers superior value by showcasing their products through
strategic advertising campaigns. Their commitment to affordability, represented by
budget-friendly products, reflects their strategy of providing value to customers.Fourth, building
profitable relationships is a cornerstone of Walton's marketing process, evident in their extensive
sales and after-sales network, fostering loyalty and trust.Lastly, capturing value from customers
is achieved through their dedication to customer satisfaction, ensuring positive experiences and
fostering brand loyalty.In conclusion, Walton's marketing process expertly aligns with the five

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

core marketing elements, resulting in a customer-centric approach that caters to diverse needs,
fosters loyalty, and delivers value.

Needs:
Variety of products:

To find gaps and desires for focused improvements, Walton closely monitors the market and
trends. For instance, they created eco-friendly freezers and air conditioners in response to the
demand for energy-efficient home appliances. For today's commuters, their motorcycles offer
flair, affordability, and dependability. Precision manufacture is ensured by modern facilities, as
shown by their technologically advanced smart TVs. With ISO-certified standards for items
like air purifiers, quality is paramount. Their dedication to achieving client satisfaction through
dependable support and enduring connections is underscored by a wide sales and after-sales
network, both locally and internationally.

Wants:
Eco-friendly products:

Walton is dedicated to sustainability and creates products that satisfy consumer needs while
having the least possible negative impact on the environment. Their energy-efficient
refrigerator is a shining illustration; it excels at effective food preservation while using little
power. This guarantees ideal cooling efficiency without exorbitant utility expenses. Similar to
this, their air cooler prioritizes resource conservation while offering cooling comfort in hot
weather. Customers that care about the environment and want ease can buy these products.
Walton's regular products demonstrate their commitment to environmentally friendly solutions
that fit customer preferences.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Eco-friendly Services:

Walton's "Green CSM" services go beyond the ordinary, guiding customers on a meaningful
path towards sustainability. With an unwavering focus on eco-friendliness, these services offer
a comprehensive range of energy-efficient solutions and forward-thinking recycling initiatives.
From enlightening customers about efficient energy consumption to advocating responsible
waste management, Green CSM presents tangible avenues to lessen our environmental
footprint. The invitation to adopt a greener lifestyle comes without sacrifices in
convenience—a delicate equilibrium that mirrors Walton's commitment to a cleaner planet and
a brighter future for all.
As global consciousness towards ecological concerns grows, these products and services
effortlessly harmonize practicality, comfort, and sustainability. Walton's "Green CSM" services
are a call to action, a way to not only enrich our lives but also to create a lasting impact that
resonates with the world's eco-aware ethos

Demands:
Diverse and customer-centric products range:

With a broad product selection that perfectly matches customer preferences, Walton succeeds
at satisfying market needs. Notably, they promote food freshness while preserving energy with
their energy-efficient refrigerators. Motorcycles that are reasonably priced and fashionable
appeal to people looking for dependable transportation. For those who care about the
environment, Walton's cutting-edge, ecologically friendly air conditioners combine comfort
and energy economy.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Innovating for Customer Satisfaction:

Walton consistently introduces a slew of products that epitomize a blend of cutting-edge

technology and practical utility. Whether it's their smart televisions, washing machines, air
purifiers, or other offerings, Walton strategically fills diverse niches in the market, catering to a
spectrum of customer requirements. This comprehensive approach allows them to seamlessly
adapt to ever-evolving demands.

Quality, and Eco-Consciousness:

Walton's unwavering commitment to quality, reliability, and technological advancement

empowers them to navigate the intricate landscape of market demand. Their dedication ensures
that their products resonate with customers' needs across various domains, fostering a strong
foundation of customer satisfaction. Through a combination of innovative thinking and a deep
understanding of their customer base, Walton continues to position itself as a brand that
consistently delivers on its promise of meeting market demands in a holistic and meaningful
way.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Image: Maslow's Hierarchy strategy

Walton strategically integrates Maslow's hierarchy of needs into their marketing approach,
touching on each level to resonate with customers. Starting with physiological needs, they
offer practical essentials such as energy-efficient refrigerators and reliable motorcycles,
ensuring basic necessities are met. Moving to safety needs, their advanced air conditioners and
top-notch products provide a sense of security and comfort. For love and belonging, Walton's
extensive sales and after-sales network fosters a sense of community and support. Esteem
needs are addressed through their stylish and quality offerings, like air purifiers and washing
machines, elevating customers' sense of pride. Finally, self-actualization comes into play
through Walton's commitment to innovation and eco-friendliness. By promoting sustainable
living through their products, they tap into consumers' aspirations for personal growth and a
positive impact. Overall, Walton's marketing strategy thoughtfully encompasses the layers of
Maslow's hierarchy, aligning their products with each customer's distinct needs.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

SWOT Analysis:
Strength: Walton sells quality products at a low price. In Bangladesh, Walton has already
created great brand value. For this reason, Walton is the first choice for middle class and lower
middle class consumers.They also have different variations of products. That's why, different
ages and classes of people are satisfied with their product. Their factory is in Gazipur, which is
much closer to capital. This helps them reach all over the country.

Weakness: The targeted people of Walton are most likely middle class people. Thats why they
can not satisfy the rich with their product. In Bangladesh, people have been used to with the
foreign brands like LG, Samsung, and Sharp for a long time. So, it is very difficult for them to
gain the trust and reliability of Bangladeshi people for a local brand.

Opportunity: Walton has many opportunities to export their products in Africa. Walton
produces many innovative products, like refrigerator with artificial intelligence.

Source: https://blog.waltonbd.com/walton-refrigerator-with-artificial-intelligence/

Threats: As different foreign brands are dominant in Bangladesh, it's very difficult for Walton to
dominant in local market. For inflation, the price of row materials is increased day by day. So,
it’s very difficult to sell products in reasonable price.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Strength- Weakness-
● Good product in low price ● Unable to capture high income groups
● Manufacturing plant very near to capital ● Reliability and trust
● Wide range of products
● Brand value

Opportunity- Threats-
● Potential untapped market in Africa ● Dominated by foreign brunch
● New inventions and technology ● Price inflation

Table - SWOT ANALYSIS DESCRIPTION

Marketing Mix 4ps

Product -
1.Refrigerators
2.AC
3.LED TV
4. Smart phone

Refrigerator - there are two types of refrigerators. Frost and non Frost.
LED Tv - Walton has 80 different Model LED TV
Smartphone- Walton is 3rd popular Mobile phone brand in Bangladesh.
It has 200% growth every year on average in mobile phone sales.

Price-
Walton added a standard markup of 20% to the product cost.
Walton set a lower price to capture market share.
Place- products are available through executive distribution, dealers and plazas.
There are 150 Walton plazas where they sell Walton products directly.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Currently they have 450 executive dealers.

Promotion - walton has different promotional approaches like sale promotion, advertising, direct
marketing.
They occasionally provide discounts.
Walton communicates with customers directly through plazas.
Market Segmentation:
Segmentation is one of the important factors in marketing strategy. Market segmentation defines
& targets a specific market. It's a process of dividing a market into different groups of buyers
Through a variety of factors, markets can be segmented. Market segmentation includes the
demographic base, geographical base, behavior base, psycho-graphic base etc. Walton mainly
concentrates on demographic base. Walton's demographic base includes age groups & income
groups. Walton segments the age group into the younger generation, adult generation and the
older generation. Again they segment the income group into the low-income group and middle
income group.

Discussion Questions

1.Why walton is a top leading brand in Bangladesh?

2. What is the Marketing strategy of walton?
3. What makes Walton's products stand out to distinct customer segments?
4. What distribution and marketing techniques does Walton use to market its goods?

Reading References

1. Walton Refrigerator with Artificial Intelligence

2. 5 Steps of Marketing Process
3. Consumer Electronics Industry in Bangladesh: A Shift Towards Personalised Experience
4. Consumer Electronics: Home Appliance Industry in Bangladesh - Business Inspection
BD

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

References

1. Walton refrigerator with artificial intelligence. (2022, July 16). Walton Blog.
https://blog.waltonbd.com/walton-refrigerator-with-artificial-intelligence/

2. Kangal, S. (2023). Marketing process: 5 steps of marketing process. iEduNote.

https://www.iedunote.com/marketing-process

3. Consumer Electronics Industry in Bangladesh: A shift towards personalised experience.

(n.d.).

https://idlc.com/mbr/article.php?id=492

4. Moorman, C., & Day, G. S. (2016). Organizing for Marketing Excellence. Journal of
Marketing, 80(6), 6–35.
http://www.jstor.org/stable/44134972

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Walton Group: Creating Success with Innovative Strategic Marketing

Teaching Notes (Second Part)

Case Summary

Established in 1977 by S.M Nurul Alam Rezvi, Walton is a well known electronics company
in Bangladesh. They sell a variety of products like Walton Motors, Walton Mobile, and Walton
Electronics. With sales reaching 760 million USD in FY2022, the company's strengths lie in
brand value, product range, and strategic location. Challenges include catering to high income
markets and enhancing diversity, while opportunities encompass new product launches and
expansion into untapped regions like Africa. Threats involve price inflation and competition
from foreign brands. Walton's marketing strategy centers on unique designs, competitive
pricing, and direct customer interactions through various channels. The company's marketing
approach focuses on Geographical, Demographic, Psychographic and Behavioral
segmentation, aligning with the “Marketing Concept”, "Product Concept" and elements of the
"Selling Concept" to appeal to a broader audience. By utilizing geographical segmentation,
Walton can target specific regions in Africa where there is a high demand for their products.
Additionally, by understanding the demographics and psychographics of their target audience,
they can tailor their marketing messages and designs to resonate with their customers on a
deeper level. This approach allows Walton to differentiate themselves from foreign brands and
establish a strong foothold in the African market.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Teaching Objective

For “Walton Group: Creating Success with Innovative Strategic Marketing” some teaching
objectives may be:
● Understanding Walton’s success by focusing on concepts like “Place” of marketing mix
(4P’s) to know their strategic choice of location for their stores, segmentation, targeting
and positioning for their emphasis on alignment with market trends and low prices.
● Examine how Walton’s unique approach to the Product component of marketing mix
discovers products that are affordable yet innovative to create customer value and how
Walton makes things that customers want by focusing on customer-centric approach,
building customer relationship management to maintain customer satisfaction through
their products.
● Exploring methods to ensure customer satisfaction by understanding customer preference
through feedback, and seeing their growth plans fit with what customers prefer.
● Examining how Walton faces challenges using the concept of competitive advantage
where a lot of companies want to do the same thing in the electronic industry and
marketing strategies to grab opportunities besides tackling competition and identify
growth to get better.
● Focusing on applying lessons that Walton can teach other companies by identifying
valuable insights for other companies, discussing the adaptability of Walton’s ideas to
online and offline business and encouraging innovative utilization of Walton's ideas
across various businesses.

Target Audience

The content of this case study about Walton is aimed at business enthusiasts, students studying
marketing, management, or entrepreneurship, professionals seeking insights into successful
business strategies, and anyone interested in understanding the factors contributing to the success
of a company. It's suitable for both undergraduate and graduate students who want to gain

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

knowledge about effective decision-making, strategic positioning, and market trends through a
real-world example. This case study provides a comprehensive analysis of Walton's background,
SWOT, customer-centric approach, and innovative marketing techniques. By examining Walton's
success story, readers can gain valuable insights into the importance of adaptability, leadership,
and continuous improvement in today's competitive business landscape. Whether you are an
aspiring entrepreneur or a seasoned business professional, this case study offers practical lessons
that can be applied to various industries and organizational contexts.

Discussion Questions & Answers

1. Why walton is a top leading brand in Bangladesh?

Ans- Walton is the most well-known electronics producer in Bangladesh, producing a
variety of goods from kitchen gadgets to AC fans, light-activated stoves, and
refrigerators. The massive electric company in Bangladesh also exports the goods it
produces after satisfying domestic demand. Walton currently controls more than 75% of
Bangladesh's overall refrigerator market share. After being registered on the Dhaka and
Chittagong Stock Exchanges, Walton Hi-Tech Industries Limited made its initial public
offering (IPO) in the stock market in 2020. In terms of market cap since that time, the
company has risen to become one of the top listed companies in Bangladesh. Walton has
succeeded in building a clientele both domestically and internationally thanks to their
high-quality goods, stylish designs, and affordable prices. Walton employs more than
30,000 people, and its products are currently exported to more than 40 different nations.

2. What is the Marketing strategy of walton?

Ans- S. M. Nurul Alam Rezvi formed the R.B. Group, which includes the Walton
trademark, in 1977. It is a Bangladeshi conglomerate-based business. Following its
founding, the R.B. group expanded its range of products to include steel, electronics,
autos, etc. In the 1970s, Walton began working in the steel sector. In the early 2000s, they
started working in the automotive and electronics industries. Customers in Bangladesh

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

have come to trust Walton as a brand. In this expanding market, they are finding success.
There are several factors that contribute to success, including devoted workers, a national
network, a preference for quality, and others. In their present capacity, they are
promising. They offer a wide range of items, and for each of them, they have a unique
marketing strategy. Walton manufactures a variety of electric and electrical goods. For
each of their various items, they have a particular target market in mind. For instance,
they target elderly and low-income individuals and provide them with basic phones. For
those who enjoy entertainment, there are multi-media phones. They later released the
faster-to-use Primo line with an eye toward users of Android devices. In order to
dominate its rivals in the electronic sector, Walton employs a competitive positioning
strategy. They employ highly skilled marketers who give it their all to establish a
favorable impression in the eyes of the clients. Because of their outstanding and
identifiable branding and labeling, Walton's products are easily recognised. Walton has
two distinct approaches to product strategy. One is the genuine product, while the other is
the upgraded product. The actual product is the observable and material object required to
obtain the core product. For instance, Walton Mobile is successful because of its brand,
aesthetics, and design. It is also the increased product's intangible element. Usually, there
is a lot of added value. One example is Walton Mobile, which offers enhanced services
including customer support, warranties, and assistance for installing the newest software.
Walton has a broad range of products. It supports the company's efforts to target a broad
market and stabilize profit margins. Distributing a wide range of products is typically
difficult for businesses without their own distribution centers. Thanks to this marketing
mix, Walton's products are delivered to the customers. The corporation constructed
numerous sales centres across the nation. Walton currently has numerous sales locations
across the nation as time goes on. They also conduct a big advertising effort over the
whole country. Walton use a range of marketing and advertising strategies to raise
consumer demand for its products. Walton uses a lot of television advertisements, but it
also uses other strategies including outstanding packaging, giveaways, social media
marketing, and one-on-one sales. One of the most well-known and significant businesses
in Bangladesh is Walton BD. It has introduced numerous electrical, electric, and

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

automotive products over time. Their traditional marketing approach aids in their
long-term success.

3. What makes Walton's products stand out to distinct customer segments?

Ans: Based on the distinct requirements and interests of different consumer categories,
Walton uses a strategic approach to differentiate its products. They can efficiently serve a
wide spectrum of consumers thanks to this strategy:

Features targeted to certain consumer segments: Walton creates its goods with features
that are specifically suited to meet the requirements of various customer groups. For
instance, they provide easy use and cost by providing basic phones with basic
functionalities for the elderly and people with limited budget.

Products Focused on Entertainment: Walton offers multimedia phones with improved

audio and visual features in response to the need for entertainment gadgets. Consumers
that value multimedia experiences like music, films, and games are the target market for
these phones.

Offerings for Tech-Savvy people: By providing Android devices with cutting-edge

hardware and software features, Walton also targets tech-savvy people. Customers who
are looking for the newest technology and customisable features may find these products
appealing.

Walton gives careful consideration to the aesthetics and design of its products, making
them aesthetically appealing and in line with the preferences of various consumer groups.

Walton expands its market reach and capitalizes on distinct consumer preferences by
providing items that are suited to the specific needs of various market segments.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

4. What distribution and marketing techniques does Walton use to market its goods?
Ans: To efficiently market its products and establish a strong brand presence, Walton
combines distribution and advertising strategies:

Distribution Plan: Walton maintains a vast network of sales locations that are well-placed
all around the nation. Through this strategy, customers are guaranteed easy access to their
items, increasing accessibility and convenience.

Television advertising: Walton continues to use television as its principal advertising

medium. They invest in producing effective TV ads that highlight the qualities and
advantages of their goods. Walton can efficiently convey its brand message through TV
advertisements because to its vast audience.

Walton places a strong emphasis on the packaging of its goods to make a good first
impression. The perceived worth of the goods can be increased and buying decisions can
be influenced by appealing and informative packaging.

Walton employs promotional discounts and offers to encourage customers to make

purchases. These one-time offers have the potential to draw price-conscious customers
and foster a sense of urgency.

Social media marketing: Walton interacts with its target audience online by utilizing the
strength of social media networks. They create targeted advertising campaigns and
distribute consumer testimonials on social media sites like Facebook, Instagram, and
Twitter.

Walton uses personal selling strategies, particularly in retail environments. Salespeople

who have received proper training can answer questions from clients, give them
comprehensive product information, and help them through the purchasing process.

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MKT201 (Principles of Marketing) _Term Paper_ Walton Group

Combining these tactics allows Walton to make sure that potential customers can simply
access and understand its products, which helps to build the company's brand and
increase sales.

Further Readings Reference

1. Walton Refrigerator with Artificial Intelligence

2. 5 Steps of Marketing Process
3. Consumer Electronics Industry in Bangladesh: A Shift Towards Personalised Experience
4. Consumer Electronics: Home Appliance Industry in Bangladesh - Business Inspection
BD

References

1. Walton refrigerator with artificial intelligence. (2022, July 16). Walton Blog.
https://blog.waltonbd.com/walton-refrigerator-with-artificial-intelligence/

2. Kangal, S. (2023). Marketing process: 5 steps of marketing process. iEduNote.

https://www.iedunote.com/marketing-process

3. Consumer Electronics Industry in Bangladesh: A shift towards personalised experience.

(n.d.).

https://idlc.com/mbr/article.php?id=492

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