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 1980s the number of department stores that spanned the country as national chains were 33. In the 21st century that number has declined to less than 15. The environment that Macy faces today is truly a challenge as the need for personal service has to some degree been replaced by convenience. For example with online stores, why go out to shop amidst a sea of traffic and shoppers to wait for services, when it is easier and much less time consuming to visit a store online, select, and purchase the product. Products can even be compared among different stores to find the best price or most desired color, and style, among competitors from around the world.
How many times has the average American visited a department store in the last month. According to the latest market research, only 1-2% of householders patronize department stores today (Andersen, 2006). Compare this with 2-3% at the turn of the century and it is easy to see that the market environment for department stores is rapidly declining.
The challenge for the department stores is to find new ways to compete or face closing down.
2. A list of up to five competitors with their strengths and weaknesses.
JcPenny
Strengths
Similar to Macy's JcPenny is a well-known and respected department store. It has been around for many decades.
The brand is well-known for quality and fashionable merchandise.
The stores have moved into Shopping Malls and away from single standing storefronts allowing for equal access along with other retailers.
Nationwide presence allows...
This level of the maturity model is a transitory one and is focused more on either small, incremental gains from the first level, which is Reacting. In the Reacting layer of this proposed Branding Maturity Model, the majority of brand departments have a decidedly "every department for itself" approach to process maturity and have information flow that is purely dependent on personal productivity applications only. That is to say
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
Lifespan It's very interesting to discuss an individual's life in detail, especially when done so in a thoughtful manner. Through these conversations, one garners a distinct appreciation for life and the obstacles it presents. It also provides a great sense of the importance of perseverance in regards to success. Allen exemplifies the term "perseverance," in his behaviors throughout life. I personally had to the opportunity to meet Allen during a job
McDonald's Corporation This is an attempt to study the history and development of one of the great institutions of United States and a part of the images of the country that has spread in the whole world. As is well-known, the dominance of the world by United States came after the Second World War when the traditional leaders of United Kingdom and Germany lost their predominant positions due to the destructions
business2community.com/social-media/2012s-ten-worst-social-media-Disaster-0370309 Using contemporary illustrative examples from academic literature and reputable business publications, discuss the concept of "Social Business" and the resultant opportunity and challenges that are currently being faced by the retail industry globally. Concept of Social Business Concept of Social Business with Retailers Social Media and Retailing Best Practices in Administering Social Media There is a growing body of research that confirms that companies of all sizes and types can realize a wide array
disabled had nothing or little to contribute to the world in the educational, social, or employment arena. For the most part those that were disabled either physically or mentally were shuffled off to the side and largely ignored. They would be taken care of by family members or institutions and any discussion of growth or accomplishment was quickly discouraged. While this seemed natural for many years, recent history has
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