Sunday, December 29, 2019
Macys Integrated Marketing Plan - 6823 Words
Macyââ¬â¢s Integrated Marketing Campaigns 12/10/2010 MK 332 Macyââ¬â¢s Integrated Marketing Plan Executive Summary Macyââ¬â¢s Inc. is a well-established, historic and profitable company that is known as a quality yet affordable department store. Macyââ¬â¢s is an American icon; therefore our objective is not to change this image, but to modify it to appeal to a more youthful market. With our main objective in mind, we have proposed an Integrated Marketing Campaign that is geared towards our target market of young adults. By choosing alternate forms of media that appeal more to our younger target market, we can place Macyââ¬â¢s in these customersââ¬â¢ evoked set. For example, we plan to use media outlets such as social media websites, television, magazinesâ⬠¦show more contentâ⬠¦The main demographic of which we are targeting has often been called the ââ¬Å"Echo Boomersâ⬠. Echo Boomers can be defined as those born between the years of 1982-1995. ââ¬Å"Theyre called echo boomers because theyre the genetic offspring and demographic echo of their parents, the baby boomersâ⬠(Leung). That would currently make those people in the age range of 15-28. Rebecca Leung of ââ¬Å"60 Minutesâ⬠reports on exactly who the ââ¬Å"Echo Boomersâ⬠are. ââ¬Å"Theyre called echo boomers because theyre the genetic offspring and demographic echo of their parents, the baby boomersâ⬠(Leung). A reason why we are targeting this age group is because they make up nearly a third of the U.S. population. There are about 80 million of them and they spend $170 billion a year of their own and their parents money. In terms of psychographics, this group of people was the first to grow up using computers. They grew up in an age of technology and for the most part have been using it all their lives. Internet marketing could prove to be extremely effective on this age group. ââ¬Å"Echo boomers are a reflection of the sweeping changes in American life over the past 20 years. They are the first to grow up with computers at home, in a 500-channel TV universe. They are multi-taskers with cell phones, music downloads, and Instant Messaging on the Internet. They are totally plugged- in citizens of a worldwide community.â⬠(Leung) TheseShow MoreRelatedMarketing Strategy : Mcdonald s, Sears, And Toyota937 Words à |à 4 Pagesrespect, and recognition. One of the ways they achieve this is by developing and executing an innovative branding strategy with marketing tactics. McDonaldââ¬â¢s, Macyââ¬â¢s, Sears, and Toyota are very common household brands. The senior executives of those companies know the value of branding and how, when used appropriately with an integrated marketing communications plan, can increase customer numbers and improve profits. Many organizations like McDonaldââ¬â¢s and Toyota have suffered through negativeRead MoreIntro to Marketing Tesc Assignment 11428 Words à |à 6 PagesTESC Introduction to Marketing Written Assignment 1 Choose a specific industry (e.g., grocery retailing, the airline industry, etc.), and apply Porter s Five Forces Model to discuss that industry s competitive forces and their relative influence. Michael E. Porter, a renowned business strategist, identified five competitive forces that influence planning strategies that businesses use. The model, called Porterââ¬â¢s Five Forces was later updated to include the impact that the internetRead MoreCase Study : Macy s 2701 Words à |à 11 Pages NEW JERSEY CITY UNIVERSITY School of Business, Marketing Department MKTG. 231 Principles of Marketing Semoon Farag, Course section #2527 Case Study ââ¬â Macyââ¬â¢s Monday, May 4, 2015 CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this work and that any assistance I have received in its preparation is fully acknowledged and disclosed. I have also cited any source from which I used data, ideas or words, directly quoted or paraphrased. This work was prepared by me specificallyRead MoreProfessional Marketing Career Essay1024 Words à |à 5 PagesMany diverse experiences have helped to shape my professional marketing career. These positions range from promoting Broadway shows, to marketing at the global childrens entertainment brand Pokà ©mon, and managing a girlââ¬â¢s brand called My Princess Academy. While my professional experiences have provided me with a strong real world foundation, I feel that in order to pursue my goal of managing a major entertainment brand, I require the knowledge and training afforded by an MBA program. I am confidentRead MoreMacys and Dillards2572 Words à |à 11 Pagesand comparative statistics. Macyââ¬â¢s or D illardââ¬â¢s: Differences amongst these competitors There are several aspects you can analyze from each department store. Major pieces do set each one apart from the other. Brand names carried by Macyââ¬â¢s and Dillardââ¬â¢s from an average shoppers point of view can go completely unnoticed unless price is involved. For trend shoppers brand names can either make or break a retail store. It can easily determine if he or she will walk to Macyââ¬â¢s or Dillardââ¬â¢s because they alreadyRead MoreJcpenney vs Macys5166 Words à |à 21 PagesJCPenney: Every Day Low Prices Versus Macyââ¬â¢s: Differentiated and Localized 11/29/12 Executive Summary The industry we have chosen is the department store-retail industry. Within this industry, we have chosen the department stores of JCPenney and Macyââ¬â¢s. We find this industry, as well as these two companies, interesting from a strategic perspective. JCPenney has recently undergone a massive strategic restructuring in regards to its pricing, brand offerings, and store layout, pushingRead MoreJcpenney Industry Analysis17889 Words à |à 72 PagesSUMMARY 2 COMPANY PROFILES 4 1. JC Penney 4 Strategy initiative 4 Missionâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. 5 2.KOHLââ¬â¢Sâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..â⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦ â⬠¦Ã¢â¬ ¦Ã¢â¬ ¦..â⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦5 Strategy initiative 5 Mission 6 3. Macyââ¬â¢s 6 Strategy initiative 6 Mission 7 4. Sears 7 Strategy initiative 7 Mission 8 INTRODUCTION 8 EXTERNAL ENVIRONMENT ANALYSIS 9 Demographic Segment 9 Age structureRead MoreWhat Is Customer Lifetime Value? Essay1833 Words à |à 8 PagesDiscussion 1 â⬠¢ What is Customer Lifetime Value? Customer Lifetime Value is a metric used in marketing that represents the total net profit a company will gain from any given customer (Rouse, 2016). A company can describe a profitable customer as ââ¬Å"a person, household, or company whose revenues over time exceed, by an acceptable amount, the company costs of attracting, selling, and servicing that customerâ⬠(Berger Nasr, 1998). The customerââ¬â¢s revenue that is excess is considered to be the customerRead MoreKirkcaldie Stains5881 Words à |à 24 Pagesextending the target market for a larger reach. The opportunities for Kirkcaldie Stains provide a platform for the marketing strategy to be based on. The strategy will outline the marketing objectives and the marketing mix strategies that will help the company to reach the proposed five-year goals. The marketing strategy will loosely be based around the framework that Macyââ¬â¢s an American department store has deployed with great results. The three main strategy objectives suggested for KirkcaldieRead MoreJcpenney Company Analysis Essay examples1263 Words à |à 6 PagesRivalry among Competitors The department store market has a number of competitors all varying for the consumerââ¬â¢s dollar. Although each has their specific strength, all have a share of the JC Penney market. Main key competitors are Kohlââ¬â¢s, Sears and Macyââ¬â¢s. Competitors are primarily in the department stores industry. Competition is based on apparel, accessories, retail, nonstore retail, and lending sectors. Demand is driven by consumer income and demographics. The profitability of individual companies
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