Identify a company - Marketing
The Company i choose: Macys shopping department
With companies investing heavily in big data analytics, analysts are expected to learn how to gather and analyze data from multiple data sources.
The following final project is an opportunity to demonstrate what you have learned from the course, and apply your understanding of market intelligence research to provide responses to the items listed below:
Identify a company
Provide an analysis the company history
Analyze their financial history (if startup, industry financial)
Identify their target market
Identify a critical area of growth
Provide an analysis of their market entry strategy
Provide a segment analysis and identify a new segment opportunity
Provide a recommendation for an AdWords campaign
Create a value spectrum analysis for the company
Provide the KPI metrics
3-4pages write up responses to the items listed above (Double space x Times new roman, APA style).
History
Macy’s founded (1858)
Founded by Rowland Hussey Macy
Gross sales in 1st year $85000 (Swenson, 2019)
Revenue for 2020 $25.331 billion
The company in question has been identified as Macys, which was founded in 1858 by Rowland Hussey Macy. Throughout the years, the company has grown to include 725 stores and more than 90000 employees, with its main headquarters in New York City. After being established, the companys first day sales totaled $11.06, with gross sales for the first year totaling approximately $85000. (Swenson, 2019). Since then, the company has made tremendous strides in order to establish itself as one of the best fashion retail brands in the industry. The companys annual revenue has fluctuated between decreases and increases over the years. The companys annual revenue for the year 2020 was $ 25.331 billion, with projections for 2021 indicating a further decline in revenues as a result of the global pandemics consequences.
1
Macy’s
Target market- men/women
Critical areas for growth is modernizing its physical stores
Market entry strategies used include;
Franchising
Exporting
The companys primary market consists primarily of men and women of different ages. The companys goal is to sell its fashion products, such as accessories, clothes, apparel, and even cosmetics, to the above-mentioned demographic. Providing its stores with a more contemporary appearance is a critical area of growth for the company. The majority of the companys stores have been subjected to underinvestment in a manner reminiscent of 1980s throwbacks, making it difficult to portray the company as one that is embracing innovation. Franchising and exporting are two of the most important market entry strategies employed by the company. A Macys franchise is currently estimated to cost between $350000 and $685000, depending on the location.
2
Macy’s cont…
Visual Spectrum
In the companys segmentation analysis, it was discovered that the companys target market is segmented based on demographics such as age, gender, and income (Pai, 2018). However, as more consumers become aware of the importance of sustainability, a new market segment for them to target emerges. This segment can concentrate on the production of fashion products that are completely environmentally friendly. It is possible to concentrate on the luxury segment of the companys value spectrum analysis, which assures users of the high quality, good shopping experience and exclusivity associated with the brand items they purchase. Sales, inventory turnover, and profit margin are examples of key performance indicators that a company may use.
3
Market
Market segment based on age gender and income
Segment
New segment concentrate on the production of fashion products that are completely environmentally friendly.
Value
Value spectrum analysis is about the shopping experience and exclusivity of it products
Macy’s
Ad
Headline:
Macy’s- Shop fashion clothing&Accessories
Description:
Macys - Macys has the latest fashion brands on Womens and Mens Clothing, Accessories, Jewelry, Beauty, Shoes and Home. Shop at Macys. Buy Online & Get Free, Fast, & Easy Pickup In Store.
Keywords:
Shopping, Macy’s, fashion, high fashion, offers, discount code, customer experience, online shopping, nostalgia, high quality, inexpensive, technology, AR, clothing, buy, trends, holiday, seasonal product, exclusive, gift, high tech,Christmas, Thanksgiving, Labor Day, Easter,trendy,parade, tradition,event,fantasy,life,day,cheap,expensive, mall, fitting room.
URL: https://www.macys.com/
KPI:
KPIs include sale, inventory turnover and profit margin, Total sales revenue For physical store.
Website: Search Traffic/Bounce Rate/Conversion Rate
4
Thank You !
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