WALMART SCENARIO
Walmart is the largest retailer in the world with more than 4,000 stores located in 14 countries outside the United States. The corporation has learned, sometimes the hard way, that the Walmart business model cannot be transferred to every country it enters due to cultural differences. For example, the retailer ran into difficulties in many European countries because stores are not open 24-hours a day, seven days a week like Walmart Supercenters are in the United States. When negotiating the purchase of Trust-Mart stores in China, the company had to develop relationships with executives before even discussing business opportunities. Finally, Walmart varies marketing mixes based on local tastes, cultures, and economic conditions.
-Refer to Walmart Scenario. Unlike Walmart stores in the United States, stores in China have rather large seafood markets located within each store. Consumers can purchase squid and octopus for dinner because consumers there like to eat that. So while Walmart's marketing strategy may be global, it varies marketing tactics at the local level to better serve its customers. Walmart is practicing _____.

Question

Quizplus · Accepted Answer

Walmart is practicing glocalization, which refers to adapting global products and services to meet local needs and preferences. In this case, Walmart is adjusting its product offerings (seafood markets) in China to cater to local tastes and culture. Guanxi refers to building relationships and networks for business purposes in China, dostat is not a recognized term, enculturation refers to the process of learning one's own culture, and acculturation involves adapting to a new culture oneself.

WALMART SCENARIO Walmart Is the Largest Retailer in the World with More