Welcome to the sixth installment of The Wal-Mart Weekly -- a new weekly column dedicated to bringing you insight, wit, facts, results, opinions and just a bit of everything else when it comes down to a very hot topic these days: Wal-Mart.

Last week I looked at Wal-Mart Stores' (NYSE:WMT) prices to really determine if the "always low prices" advertising and marketing tagline was accurate. While I only looked at groceries, I discovered that Wal-Mart's prices were indeed lower on six of seven items when compared with a local Albertson's grocery store.

This week I wanted to discuss what the retailer could do to get its advertising and marketing in order. Right now, it seems to be in complete disarray. From the dismissal of the Wal-Mart "Smiley" to the hiring of former Target Corp. (NYSE: TGT) marketing exec John Fleming, the world's largest retailer has recently sent quite a few mixed messages.

Where is it headed? Read on.

Where has the "smiley face" gone?

Let's take a trip back to 2005. I used to see -- as did millions of U.S. television watchers -- the Wal-Mart "smiley" face bounce all over my television screen as an animated mascot (of sorts) for the retailer. The image that sticks in my mind was the smiley face romping throughout the store, happily slashing pricing signs and using his best Zorro impression to "rollback" prices. The smiley face became synonymous with "rolling back prices" for the world's largest retailer in its biggest market. Wal-Mart, back then, actually had an image and it worked well.

According to Reuters and Adage.com, Wal-Mart Stores, Inc. (NYSE:WMT) has assigned its $580 million account to The Martin Agency and Mediavest. The move comes a few weeks after Wal-Mart fired senior marketing executive Julie Roehm.

The move is a victory for Martin parent Interpublic Group. One of its agencies, FCBDraft, had lost the business when the account was thrown into review after Ms. Roehm's departure. Odd as it may seem, Wal-Mart never gave a full accounting of the marketing leader's departure or the need for the review.

Interpublic has been hit by a number of defections at its operating ad agencies, and the stock has only recently come back from a sharp sell off this summer.

For Wal-Mart, the challenge will be directing the new marketing partners to get customers back into the world's largest retailer's US stores. The flagging sales in the company's home market have dropped the stock price 12% over the last two years while the Dow is up over 15%.

Douglas A. McIntyre can be reached at 24/7 Wall St.