INTRODUCTION Today, the Electronic industry industry is recognized recognized as the single largest industry industry in the world and this sector has been recognized as a major significant area of economic and business activities in most of the countries in the world. In Bangladesh, Electronic Industry also played a big big role in developing developing our economy economy and also also does some some social social responsibil responsibility. ity. Now Bangladesh is going to be digital. So every time we use electronic products. For example; TV, Freeze, Generator, Microwave woven, Motorcycle etc. There are many Electronics company in our country.
COMPANY PROFILE-TAKE A QUICK LOOK
Name of the Organization Organization
WALTON
Year of Establishment
1977
Number of directors
05
Number of Showroom
32 Jiban Bima Bhaban (Level-3) 10, Dilkhusa C/A, Dhaka-1000
Contact Address
Tel: +88-02-9571634-6, +88-02-9571634-6, 71711845,9555890, 9554045, 7170271-2, 9558535, 7171873
E-mail Web
Fax: 88-02-9572057
[email protected] [email protected] www.waltonbd.com
VISION OF WALTON
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To be the most admired and respected family company in the country
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To improve service quality through development of strategic marketing plan. MISSION OF WALTON
Mission is to improve the quality of life of people by providing comforts and conveniences. VALUS OF WALTON
Consumer We live live up to the the ex expe pect ctat atio ions ns of a re resp spon onsi sibl blee or orga gani niza zati tion on by co cont ntri ribu buti ting ng to improv imp roveme ement nt in the quality quality of lif lifee of our customers customers through through outsta outstanding nding product product & services.
Employees We respec respectt each each other other as individu individuals als and encoura encourage ge cross cross functio functional nal teamwo teamwork rk while while providing providi ng opportunitie opportunitiess for career career development development..
Suppliers We develop our suppliers to be partners in progress and share our growth with them
Competitors We respect our competitors and recognize their contribution to market value.
Community We conduct our business by conforming to the ethics of our country and share the social responsibility of the less fortunate.
MANAGEMENT STRUCTURE
OBJECTIVES OF WALTON
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To be the market leader in our product range and market segment.
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Provide our consumers with the best service & shopping experience in the
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country. Provide our consumers with products of latest technology.
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Provide our shareholders with steady asset growth and return on investment above the industry norm.
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Grow our revenue and profits at a rate above the industry norm.
STRATEGIES OF WALTON Walton tries to achieve lower overall cost than rivals, usually under-pricing rivals. A successful low-cost leader is generally good at finding ways to drive out many elements of cost of their business.
Mar ket
Broad Market
Targ et
Niche et Mark et
Overall low-cost
Broad Differentiation
providerr strategy provide strategy
Strategy
Focused low-cost strategy
t t-cos t Be Bes t r viide r ro v p ro teg y ra te s t ra
Focused Differentiation strategy
PRODUCT OF WALTON
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Refrig friger era ator
&
UP COMING PROJECT
freezer •
Motorcycle
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Mobile phone
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Air conditioner
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Computer LCD monitor
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Televisi Tele vision on (CRT, (CRT,
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LED TV
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Laptop
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Car
LCD) •
DVD player
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PRODUCT RANGE AND DIVERSIFICATION Thus, the transformation of Walton from a single product Freeze, company into a multi product consumer consumer durable durable company company began in in 1985 for for further further growth growth and expansion. expansion. This diversification into consumer durables has continued unabated. At different times Walt Wa lton on has introd introduce uced d Colo Colorr and Black Black & Whit Whitee Tele Televis vision ions, s, Wa Washi shing ng Ma Machi chines nes,, Microw Mic rowave ave Ovens, Ovens, Air Conditi Conditioner oners, s, Motorcy Motorcycle cles, s, DVD DVD Pla Players yers.. Laptop Laptop,, Des Desktop ktop Computers and Car are among its newest offerings. Today Walton is a household name. It has earned the trust and confidence of the consumers and is one of the leading manufacturing and marketing companies of consumer durables in the electronics and home appliance sector of the country.
I NFORM NFORMATION ATION FLOW
Walton’s channel members pass any information of sales, inventory, transportation etc. when those are needed. Information can be both inward and outward. Sales data generally is inward or backward. Information of potential and current customers, competitors, and other factors in the marketing channels are gone to the backward or inward from the shop managers to district and area managers, and finally to the Walton. Again, information of the corporate decisions is gone to the outward.
FIG: Information flow
WALTON DISTRIBUTION PROCESS
PARTS OF EQUIPMENT
For importing parts L.C. is opened. Then through transportation it is supplied to Savar factory .After that, after making final goods these are transferred to warehouse and then respective shops.
CHANNEL DESIGN DECISIONS In designing the firm’s channel system, Walton analyzes consumer needs, sets channel objectives, identifies major channel alternatives, and evaluates them.
A NALYZ NALYZE E CONSUMER NEEDS NEEDS Because the point of a marketing channel is to make a product available to customers, the marketer of Walton first understands what target customers actually want. Walton target customers are middle and high level people.
WAITING TIME The target customers of Walton want to purchase the products from the nearby locations. They normally prefer fast delivery channel. So Walton opens the showrooms of the nearby locations of target customers. The rural and low income level people are also the Walton’s target customers. For this reason Walton also open the showrooms in the rural areas. If the people of rural rural people want want to purchase the the Walton products, products, they go to the showroom showroom and purchasee the products. purchas products.
SERVICE BACKUP The greater the service backup, the greater the work provided by the channel. Customers want after sale service from these products, so Walton provides the after sale service by many after sale service centers.
MARKETING AND SUPPLY CHAIN MANAGEMENT
Marketing Logistics and Supply Chain Management of Walton
Individuals have carried out logistics activities for many years. Walton also has continually engaged enga ged in move-s move-stor toree (tr (transp ansport ortati ation-i on-inven nventor tory) y) activit activities ies.. The newness newness of the fie field ld results from the concept of coordinated management of the related activities, rather than the historical practice of managing them separately, and the concept the logistics adds values to productss and services product services that are essential to custom customer er satisfaction and sales. Walton Walton decides decides on the best way to store, handle and move their products and services so that they are available to customers in the right assortments, at the right time, and in the right place. Now we describe describe the nature and importance of logist logistics ics management in the supply chain, goals of the logistics system, major logistics functions, and the need for integrated supply chain management.
The Nature and Importance of Marketing Logistics Walton follows a marketing logistics also called physical distributions. First they take proper plan, and then they implement implement the plans and control physical physical flow of goods. Their ultimate purpose is getting the right products to the right customers in the right place, at the right rig ht time time.. Marke Marketi ting ng logis logisti tics cs are are two two type types, s, su such ch as, outb outboun ound d distribut distribution ion and inbound distributions. distributions. Walton sells the products through their own shops. In the Dhaka
city Walton has 20 stores of its own and its shops are remaining in the district towns. Some exclusive and luxury products of Walton are displayed sold through their selected shop.
Inbound Distribution
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Walton imports their Parts from foreign countries such as Japan, Korea, Malaysia, China etc. First they imports kits or equipments of main products, and then it brings
out to factory. Then they arrange the kits or equipments of main products to make finished goods. •
Supply chain management involves Walton upstream and downstream follows of materials, mater ials, final goods, and related information information among supplier, supplier, company, company, and final consumers.
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Their most activities activities include forecasting forecasting information information system, order processing, processing, inventory, warehousing, and transportation planning.
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Walton thinks that it is using improved logistics to give customer better services and lower price.
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Walton is now competing with LG, Sony, National and many other companies.
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Walton believes that improved logistics can reduce tremendous cost.
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Walton uses information technology for major gains in distribution efficiency.
Parts and products handling Walton handles its parts from port. First they clear their parts from ports. Its parts are carried carrie d to factory and warehouse warehouse .They handle their products products in a sequence way that they can optimize their spaces in the warehouse and factory .Sometimes any shop has no spaces to stocks in their shop then they transferred to near shop. (a) Equipment Equipment selection selection and replaceme replacement nt policies policies b) Stock storage storage and retrieval retrieval
After sales service According to its rules Walton gives services to its customers if condition is fulfill. It has some service centers for this purpose. R ECOMMENDATIONS ECOMMENDATIONS
Walton itself is a brand which has high potentiality in Bangladeshi market with its unique success factors. So based on these factors some recommendations have been given below:
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Increasing the Brand image of Walton through more promotional activities.
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Differentiation should not be only in terms of product features or other product qualities; qualities; proper influence influence should be given towards towards services services and personnel person nel differentia differentiation. tion.
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It should establish online information system.
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It should properly apply its past experiences.
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It should start the online sales.
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It should manage its own transportation agency.
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It should increase retail network.
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Should maintain competitive price list like competitor’s policy.
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Increase product features otherwise customer won’t attract.
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Develop new strategy for profitability.
