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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.
Moore (2011) seems to disagree and feels that Macy's has limited potential for growth. In his analysis he stated that Macy's intangible assets ratio of nearly 21% should be taken with caution. Financial figures are often hard to interpret and sometimes not very useful to understanding what the real market is trying to say. Globalization threatens Macy's competitive advantage due to the cheapness of manufacturing goods overseas. The global economy in general has threatened all retail outlets, but Macy's is a specific threat as well. Terrorism and high gas prices seem to scare customers and force them into saving their money…
Bibliography
Malhotra, H. (2009). Macy's reworks marketing strategy facing weaker sales. The Epoch Times. Dec 18, 2009. Retrieved from http://epoch-archive.com/a1/en/us/nyc/2009/12- Dec/18/A1_EET_20091218_NY.pdf
Macy's Department Store Website. Viewed 10 Aug 2011. Retrieved from http://www.macysinc.com/
Moore, R. (2011). Is Macy's growth for real? Daily Finance by AOL. 9 Aug 2011. Retrieved
from http://www.dailyfinance.com/2011/08/09/is-macys-growth-for- real/?source=TheMotleyFool
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