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Target market and market segmentation
Macys business strategy
Target market and market segmentation
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Macy’s is a brand that has built a name for itself. It offers a variety throughout its customers and company. It is a brand that I like because it is found throughout many states. Macy’s offers a variety of categories such as clothing, handbags, shoes, and jewelry. It is easy to find online and at local stores. It offers great promotions and sales throughout the year. Also, Macy’s guarantees great quality within its merchandise. It is a brand that reaches outs to its customers in several ways. Macy’s makes sure that the customers can shop online and pick up at a local store or shop at local stores. Macy’s is also a brand that offers discounts to its fellow customers and use this as an attraction to its clients.
Macy’s has been a brand that has been very successful for the past years, but not everything is a good as it seems. Macy’s is a brand that is common within ourselves. Macy’s is a brand that its product placements is unorganized within its departments. Macy’s continually have sales, but sometimes items at original price get mixed up with items in sale.
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Macy’s is a brand that has variety. In other words, I am a person that has many skills and abilities such as supervising, managing, and enforcing. Also, Macy's is a brand that is well known and like me I like to outstanded from everyone else and be recognized among others. Macy’s is a brand that has built an image of professionalism and success. Furthermore, I am a person that wants to create a successful profile in the way I would like to be presented. Last, Macy’s is a brand that knows what it is about and know what type of customers they want to attract. As Macy’s, I know who I am and my interest goals. Macy’s also invest into their brand as I invest to show my confidence and best qualities. Macy’s is a brand that I personal identify myself with because it’s a brand that has a lot to offer to its customers and
Target and Nordstrom’s are set up mainly as department stores in which product lines are organized in departments to be occupied by specific buyers and sellers. While Nordstrom is arguably the premier retailer of a wide variety of clothing, shoes, and accessories that land on the high end of what most would call “affordable,” Target would be considered the store for people who are middle class. The legendary “half-yearly” sales for men, and the additional markdowns that usually follow a sale section that is usually decently well stocked. The designer brand list has wild range in-house brands like Gucci, Prada, and the plain old Nordstrom line offer more than a few items with incredible looks and high quality for very reasonable prices. Its website is clean and easy
Macy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
Provides a unique atmosphere - Their large open stores, packed with designer brands, gives an elegant feeling, with light colored walls that can’t be found at your local drug store. Also, with a low-pressure sales strategy they provide a very relaxed shopping experience.
The uniqueness of the Company is by its own particular and specific language. Describes the firm’s recent business and purpose—“who we are, what we do, and why we are here.” Also: “who our customers are” and “how we will serve them”
Nordstrom retail stores have large hallways, and everything is presented in a very classy manner. The color scheme includes pale yellows, whites, and gold, to provide a more elegant appearance in the store in order to make the shopped feel special. The design is also seen through product organization. Compared to stores like Macy’s, which organize their products based on brand, Nordstrom organizes their products based on lifestyle. Because of this, it is easier for shoppers to find clothes similar to their style as opposed to by brand. In effect, shoppers will purchase more products. This also is a type of experiential retailing, where Nordstrom customers are able to experience the elements of their lifestyle within one section. More so, the product presentation will draw people’s eyes to products, even if they are not looking for it. This gives Nordstrom a competitive advantage in relation to other similar retail stores because it makes their store look more glamorous and high-end. While other stores may focus on value, Nordstrom utilizes the retail positioning strategy to make a customer feel more high-end and
Martha Stewart's brand stands for stylish and traditional American living. She is brilliant at channeling the taste and passion of her customers into new products and media. She is said to turn "dreamers into doers". Taking this in to the context of how corporate strategists want the brand to be perceived by internal and external constituents arrives at a brand identity. The core identity or primary associations include such words as "American living", "homemaker", "tasteful", "stylish", "how-to info", and "home". Extended associations include words related to the product offering such as "gardening", "cooking", and "home renovation", as well as words showing conflict in Martha Stewart the person such as "gracious hostess" vs "perfectionist", and "model of femininity" vs "business woman". Other secondary attributes include Martha's slogan "It's a good thing" and the Turkey Hill chicken coop. The core identity, or brand essence, sets the guiding vision for MSLO. As such, these values should not and do not change in relation to consumer segments, brand extensions, or corporate strategy. Nonetheless, the manner in which the brand is promoted, communicated, or advertised to different segments may differ. In fact, the identity can be perceived as being different amongst MSLO's customers. Different brand images may exist amongst customers of the different offerings: home vs cooking vs gardening.
Nordstrom is one of the top retailers in the United States. With a solid brand image and a sound financial situation, Nordstrom is relentless in their expansion in the US, and are beginning to expand into international markets. Nordstrom takes pleasure in providing state of the art client support and having experienced sales people. In order to hold their position as the most successful high-end retailer in the United States, Nordstrom must continue to figure out ways to improve their brand image and customer satisfaction. Nordstrom’s current business working strategy is successful but I believe there are a few ideal solutions that the organization could apply to further enhance the organization. Due to the aggressive characteristics of the fashion retail store market, it is crucial that Nordstrom preserves an aggressive advantage providing the highest level of customer support as possible.
The company had to be the second largest retailer shop in the US; it has many advantages that come along. The customers well acknowledge the company and its brand have been well established.
My company of choice for this report is Macy 's. 'The Magic of Macy 's ', as the company advertises it, has inspired me to shop there, take advantage of their incomparable discounts and great online shopping experience. Macy 's, Inc. is one of the largest department store chains in the United States of America. Macy 's manages stores under the Macy 's and Bloomingdale 's brands. I enjoy shopping at both of the company 's store brands, Macy 's and Bloomingdales. Bloomingdales provides a more personalized experience
John Lewis, JL is well renowned in providing exceptional customer service. Consumers recognize JL as the exclusive genuine departmental store as consumers are literally able to purchase everything and anything that comes to one’s mind.
Companies offering luxurious fashions rely on their brand as the primary means of generating customer sales. The strategy of high quality, high price and high margins is considered a differentiation or focused strategy by which the brand carry’s the sale. This branding sends a certain type of message and retailers are relying on this message to generate abnormal profits.
Ralph Lauren's Corporation is one of the leaders in design, marketing and distribution of high-quality products in different types of categories. Over the years Ralph Lauren has been giving the world more and more. From starting with neckties to adding clothing for everyone: men, women, and kids, to adding fragrances, and household items. The Polo logo is one of the most know logos's across the world.
A distinguished company such as Macy’s attracts both customers and vendors. H. Yu-Jia an editor at the International Journal of Organizational Innovation explains this effect. “The results indicated brand quality has significant and positive relationship with service quality and customer loyalty. Brand equity also moderated the relationship between service quality and customer loyalty.” So in a nutshell, if a competing company has a great brand it will attract quality products and loyal customers to its
Shopping is something that has to be done whether you enjoy it or not to get essentials needed. We all go places where merchandize is being sold for a specific reason. Whether you go to the mall, shopping centers, or your local grocery store, you 'll always encounter many types of shoppers. Shopping isn’t always as fun as it sounds to everyone, but it is something we often do. This is the only way we get products we need, by personally buying them. You have three main shoppers including impulse buyers, list makers, and bargain hunters.
Everyone likes shopping, but everyone has their own way of spending when they go shopping. I love shopping, but I hate being at the mall, if I don’t need to be there then I won’t be there. I’ve noticed that when I have money, I do not buy anything, and when I do not have money I want everything I see. From my experience I’ve observed that there are people who shop smart, people who are just plain addicted to shopping, people who join another person while shopping, basically called window watchers.