What are the different types of pricing strategies used by walmart and target and how do they relate to the stores overall product mix and their different target market?

Answer 1

Walmart and Target both use a variety of pricing strategies to appeal to their different target markets.

Walmart:

Walmart’s pricing strategy is based on offering low prices on a wide variety of products. This strategy is designed to appeal to budget-conscious shoppers who are looking for the best value for their money. Walmart also offers discounts on certain items, such as electronics, to further entice customers. Walmart’s product mix is designed to appeal to a wide range of customers, from budget shoppers to those looking for more upscale items.

Target:

Target’s pricing strategy is based on offering competitive prices on a wide variety of products. This strategy is designed to appeal to customers who are looking for quality products at a reasonable price. Target also offers discounts on certain items, such as clothing, to further entice customers. Target’s product mix is designed to appeal to a wide range of customers, from budget shoppers to those looking for more upscale items.