Name of Company:
How long have they been in business?
· Since October 28, 1858.
· Macy’s Store started as a small dry goods store in New York City in the year 1858. It was founded by Rowland Hussey Macy.
How has their business changed over the years?
· Over the years, the business at Macy’s Inc. has changed from just selling clothing to even acquiring a liquor license in the New York City. The Company has grown worldwide such that it allows for the shipment of goods to over 100 countries worldwide. This has also included online shopping for easy purchases to be made.
What is their mission statement?
· “Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers. ”
Do they plan to expand, penetrate, diversify, or change their retail format in the near future?
· In the near future, Macy’s Inc. plans to expand, penetrate, and diversify their retail format to include more online shopping because the demands of their customers keep changing, and this can be easily addressed in an online marketing format.
1.Who is their target market:
2.Define their customer according to demographics (age, gender, income level, education etc.).
3.Trade area – Primary, secondary, tertiary (refer to chapter. 8) From the book chapter 8 note.
The Primary trading area is the geographic area from which the shopping center or store site derives 50 to 70 percent of its customers.
The Secondary trading area is the geographic area of secondary importance in terms of customer sales, generating about 20 to 30 percent of the site’s customers.
The Tertiary trading area, or fringe trading area (the outermost area), includes the remaining customers who shop at the site but come from widely dispersed areas.
1.What are the major brands they carry?
2.Do they have private brands?
3.Where does this retailer’s merchandise fit on the category life cycle?
4.Why do you think they chose this stage of the life cycle? Does this retailer carry convenience goods, shopping goods or specialty goods?