Macy's department store, or the Macy's national brand has survived many decades of economic turmoil while becoming a popular and fully recognizable brand that has stood the test of time throughout the 20th and into 21st century. The purpose of this essay is to examine Macy's corporate strategy, specifically its marketing strategy, in order to gain understanding into how a successful national brand, in the form department store, can realize success throughout a very extended period of time. I will examine Macy's corporate vision and financial objectives that are described within the contents of their website. I will then examine how Macy's marketing strategy and tactics are used in the form of target markets, product, price our promotion and distribution. Referring to their website at Macy's, their brand includes nearly 800 stores in furniture galleries in 45 states. Prior to June 1, 2007 Macy's Inc. was known as Federated Department Stores Inc. The company's shares are traded under the symbol "M" on the New York Stock Exchange. According to Macy's calculations, "in 2010 operating income rose by 78% and the return on invested capital, a key measure of financial productivity, rose significantly in 2010 from 2009. Among the strategies driving growth are my Macy's localizations, an increase...
According to this report the leadership strategy was aware that "the economic problems in today's market in this environment consumers are more selective and are seeking bargains to get customers in the door, knowledge of consumer taste trends and price consciousness has become the mainstay of the retail sector." This new marketing strategy has seemed to pay off according to recent calculations.
Business of Dillard's, Inc. With retail operations in more than half of the states, it is reasonable to suggest that most Americans are not only familiar with Dillard's, Inc. and its line of quality products, they have personally shopped there in the recent past. Founded 78 years ago, Dillard's has weathered economic downturns and changes in consumer preferences to emerge as a leading national retailer that enjoys a solid brand reputation
Macy's Discussion Questions And Executive Summary A detailed description of the environment Macy's clothing store will face. It appears that the department stores of the previous century are dwindling in size and popularity. The environment that was once the department store's territory has been consistently infiltrated by competition from every side. There are the up and coming specialty stores, the Internet, luxury chains, wholesalers and the shopping mall. Back in the early
Macy's Corporation is a chain of middle to upper range department stores in the United States. In addition to its famous New York flagship store, the company operates over 800 stores in the United States, as well as 300 consumer electronic stores called eSpot ZoomShop kiosks. As of 2009, they posted revenues of almost $25 billion with net income of just shy of $1billion. Macy's, Inc. employees about 200,000 people,
Bargaining power of customers: Our main question here is whether Wal-Mart customers can walk away from buying a product at Wal-Mart and find it cheaper elsewhere. For the most part, the answer is no. Wal-Mart has built its reputation by providing products at a considerably lower price than its competitors (Is Wal-Mart good, 2005). Certainly, customers can try to find lower prices at other retailers; and the proliferation of the
Dockers is a Levi Strauss brand that was initially launched in 1986. Throughout the 1990s Dockers rode a wave of success as business casual gained acceptance in the workplace, and khakis became the pants of choice in mens casual wear. Dockers was at the forefront of the business casual movement and its brand became synonymous with khakis. Such success spurred brand expansion; in 1998 Dockers launched a line of clothing
Thus it was confidence ebbed that had ebbed actual income. The Hiscox Wealth Review of 2009 found: "The recession has left its mark on the psyche of the Working Wealthy with a lack of confidence impacting their perceptions of wealth and appetite for risk. Whilst two in five (41%) say the recession has not had an impact on the amount of money they have to spend, almost an equal
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now