Marketing Strategy and Plan

This document provides a comprehensive marketing strategy and plan for Myer, a well-known fashion brand in Australia. It includes an overview of Myer, current market analysis, SMART marketing objectives, marketing strategy, market segmentation, marketing mix, sustainable fashion strategies, organizational implications, action plan timetable, monitoring plan, and budget. The main focus is on digital marketing to target the 18-35 age group and increase brand awareness and revenue.

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Marketing
Name:
Institutional Affiliation:

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Executive Summary
Myer is a brand that has been in Australia for a long time and over the years, it has adopted the
changes seen in the market especially with the rise in technology. They were among the first
companies in Australia to use influencers in their marketing as seen by the use of Miss Universe
to be their brand face in the country. With the rise in technology, there has also been a change in
the manner in which consumers interact with businesses as well as a change in their needs. The
technological advancements have led to a difference in the way marketing is done and the tools
needed for effective marketing. The current market analysis shows that the main competitors to
Myer are Bila Bong, Rip Curl, Zara, David Jones, H & M, General Pants Corporation and Pacific
brand all with an online presence. The main marketing objectives for the e-commerce campaign
are to increases the company's fashion website visits to 50,000 within the next 6 months in order
to achieve a $300,000 revenue from our fashion content and to increase Myers fashion products
awareness rating by 50% in 6 months through the use of digital marketing mediums. There has
been a growth in the E-commerce website in Australia with South Australia showing a 30%
increase. The marketing strategy aims to get the 18 to 35-year-olds who live in urban areas since
it is seen that more than 50% of online fashion purchases are done by this age group.
Furthermore, the adoption of the sustainable fashion supports business in contributing to the
environment and saving cost. The main budget for setting up the e-commerce site and having a
technical team will require $500,000 to begin with and an expectation of $3 million in revenues
within half a year from the digital platform alone.

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Table of Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Overview of Myer....................................................................................................................................4
Current Market Analysis..........................................................................................................................6
SMART Marketing Objectives..................................................................................................................8
Marketing Strategy..................................................................................................................................8
Myers Market Segmentation...............................................................................................................9
Marketing Mix...................................................................................................................................10
Sustainable Fashion...........................................................................................................................12
Organizational Implications...................................................................................................................13
Action Plan Timetable............................................................................................................................13
Monitoring Plan.....................................................................................................................................14
Budget...................................................................................................................................................14
Conclusion.................................................................................................................................................14
Reference..................................................................................................................................................16

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Introduction
In any business, a marketing plan is required in order to enhance the visibility of the brand as
well as improve brand awareness. There are different forms of marketing, and based on the type
of business service or product being offered, each form of marketing brings in different results to
a business (Wrenn and Mansfield, 2014). For instance, marketing on print media compared to
digital media in this information age have various results when it comes to market reach.
Therefore, due to the difference in impact on the kind of marketing used by a business, a market
strategy is required by all businesses in order to come up with an effective marketing plan that
will help the business achieve their objectives (Wilson, 2010). The intent of this study is to
present a marketing plan for Myer Company which is one of the known fashion brand tradings of
Australia. The study employs a qualitative research design by perusing secondary data related to
Myer retail history while looking through marketing strategies and theories. This paper,
therefore, aims to look for the best marketing strategy that can be used by the brand to enhance
its marketing position. The study will start by the analysis of the current market, giving the
marketing objective using the SMART format, providing the marketing mix and giving the
organizational implications of the strategy. In addition to this, the paper will elaborate the
concept of sustainable fashion and the strategies that could be used of Myer for adopting the
sustainable fashion. The paper will finish off by providing an action plan and a budget before
concluding.
Overview of Myer
Myer is a fashion brand trading in all Australian states and it has placed itself as an upmarket
departments store catering across all social groups within the society. Myer is one of the largest
department stores in Australia and operates 62 stores across the country. The store has had a

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large market reach due to its establishment done long ago in history when its first store was
founded in the early 1900s (Myer, 2019a). Over time, the brand continued growing by
purchasing old established businesses and became the largest department store in Australia. The
store has had marketing strategies over the years, which they still use today, some of the
strategies that can be highlighted are the use of product offers on the backlogged stock. During
stock clearance, Myer uses the opportunity to gain more market traction by enhancing its fashion
brand positioning within their consumers (Myer, 2019b). Myer also uses media marketing and
involves the use of famous personalities in their campaigns. For instance, in the year 2008, Myer
used the Miss Universe at that time in a four-year campaign deal where she would be the face of
the fashion store. The use of customer loyalty programs such as Mymerch and Myer One
rewards program has also been used by Myer to enhance their marketing position. In 2015, Myer
revealed a new brand strategy, updated the store layout, closed many of the underperforming
stores and restructured store locations (Myer 2018).
The market is experiencing changes that are leading to the creation of innovative marketing
strategies in order for the business to enhance its market reach (Lea, 2013). One of the main
changes seen in the market is the technological advancements that have led to the creation of
home delivery needs and social media campaigns, which were not affluent in the earlier years
prior to 2008. With the change in market demographics and technological influence, new
segments in the market are appearing hence the marketing strategies need to change with these
new emerging market segment. Another Major change happening in the fashion Industry is the
demand for Social Accountability and Environmental Sustainability (The Fashion Law, 2019).
Given the expanding number of fashion consumers demanding transparency and environmental
accountability from brands, it has never been more important for fashion labels to adopt

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sustainable business practices that will see them ‘win over’ the market and set themselves up for
success well into the future (Somers, 2018).
Current Market Analysis
Myer group is a retail business that has been established in Australia and has stores in almost all
the capital cities of Australia except Darwin. Myer is, therefore, the largest department store in
Australia. With the business of this magnitude, the main competitors and consumer alternatives
to the business fashion brand are Bila Bong, Rip Curl, Zara, David Jones, H & M, General Pants
Corporation and Pacific brands (MBA Skool, 2019).
The clothing and footwear market in Australia has faced various challenges over the past few
years due to globalization. Most of the global brands are making their way into the country
leading to intense competition (Fashion United, 2019). With the technological advances in the
market, there are a large number of E-commerce businesses that retail fashion has increased the
competitive nature of the fashion business. The fastest growing fashion segment in Australia is
fast fashion (IBIS World, 2019). In the year, 2013 there has been an annual growth rate of 19.5%
in sales up to now. The E-commerce fashion retail in Australia is valued at 3.1 billion dollars.
This shows the technological encroachment in fashion retail business with the 18-24-year-old
segment responsible for 23.8% of total online spending for fashion items followed by the age's

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25-34 age groups who are responsible for 19.6% of the purchases (Reed, 2018).

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Figure 1: Clothing Businesses in Australia
The figure above gives an overview of the areas in Australia that have the highest number of
fashion retail businesses in the country. This statistic provides the market reach of fashion retail
within Australia showing that New South Wales and Victoria have the highest fashion retail
stores in the country. The information about the fashion market can, therefore, be summed up to
show that the advances in E-commerce and trading have shifted organizations approach to
marketing (Smith, 2018).
SMART Marketing Objectives
To increases, the company's fashion website visits 50,000 within the next 6 months in order to
achieve 300,000-dollar revenue from our fashion content.

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To increase Myers fashion products awareness rating by 50% in 6 months with digital marketing
mediums.
Marketing Strategy
According to Hancock (2016), marking strategies describe how a business will accomplish its set
objectives. Therefore, with the gradual increase in technology use in the fashion market, the
main marketing strategy to achieve the aforementioned marketing objectives is to indulge in
heavy digital marketing. Digital marketing refers to the promotion of products and product
awareness through digital mediums and content such as social media, blogs, Email marketing,
influencer marketing and the use of content marketing (Dennis, 2014). Using these digital
marketing tools to raise Myers brand awareness especially to the new customer segment coming
into the market.

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Fig 2. E-commerce growth
Looking at the manner in which the use of digital platforms is rampant in the country, the main
marketing strategy needs to focus on digital platforms.
Myers Market Segmentation
Market segmentation according to Kaplan and Norton (2000) refers to dividing the market in
order to smaller distinct markets with different characteristics in order to determine the products
that are best suited for them. According to Smith (2018), over 60% of the purchases done online
are directed towards clothing purchases within the local merchants. The main age target for
Myers customers is the 18-35 year age with most of the consumers who buy clothes being
women. Myers targets the middle class in the country who have the ability to spend on top end

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clothes. Smith (2018) shows that 40% of fashion purchases are done spontaneously and mostly
by women. As the Australian clothing industry statistics show, the main reason for most of the
fashion consumers to buy clothes is value. As for the purchase of clothing online, the main driver
for purchasing fashion is convenience and variety. Shopping for clothes in Australia is higher in
the metro areas with 32% more than in rural areas. The main items that are seen valuable to men
are t-shirts and sweaters as these alone bring in over 500 million in sales from the country
(Smith, 2018) Women are more diverse with lots of there. Therefore, the main target market is
mainly men and women between 18-35 years who are living within the cities and are tech savvy.
The main reason the marketing strategy is focused on the market segment 18 to 35 years is that
most of the people in the age group constitute more than 50% of those who purchase fashion
online. The marketing strategy is linked to adopters of technology and with the rise of E-
commerce fashion websites, Myers needs to create a strong marketing presence in the digital
platforms.
Marketing MixProduct
Myer needs to create a brand that has a larger following on the E-commerce website because this
is the way in which the market is shifting. Offering products and offers on the E-commerce
website for the new wave of online shoppers will increase traffic and enhance sales. The targeted
consumers are 18 and above and the products will focus on design. The clothes that will be
provided on discounts with being those clothes that Myer Company wants to remove from its
stock or get rid of them. All men and women fashion products will be displayed and categorized
for the consumers viewing. The e-commerce website for consumers will have all the categories
of the products. The clothes will be provided by the company according to different occasions

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and seasons. The time clothes will become out of season they are considered as cheaper and
placed on the discount shelves. This will be done by the company to generate urgency among the
customers and to have frequent purchase by the customers through the website service of the
company.
Price
The retail price will be the same price that will be in the Myers fashion stores. Only products that
are out of season will be placed on offer. The price will be competitive, as it will be compared to
other competitors with E-commerce fashion websites. The pricing is important because it shows
the customer the value the product and places the product on a different status within the market.
When the pricing is too cheap the business operates at the risk of loss and when the pricing it
higher than competitors, the business loses its customers. The pricing of the products will be as
per the market rate.
Place
Myers has stores in all the capital cities of Australia except Darwin. Being the largest department
store, the distribution channels will not be limited to certain areas. With the development of the
e-commerce website, the business that is Myer will be able to reach a maximum number of
customers. However, the company has to come under contract with distribution agencies for the
delivery of the product at different delivery locations of the customers.
Promotion
For the consumers to be able to use the e-commerce website by Myers, they need to be aware
and therefore, the main means of ensuring most of the target market get to know about Myers
products and sales discounts on the e-commerce websites will require digital promotion
(Standberry, 2017). The main digital marketing tools that could be used by the business are
social media which is one of the most influencing marketing, Myers will also use email

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promotions and will use content marketing. These digital marketing tools are bound to enhance
engagement with the consumers especially within the 18-35 age groups who are tech-savvy and
spend most of their time on their mobile phones.
Sustainable Fashion
Sustainable fashion is said to be the process and movement of adopting change in the fashion
products and in the system of fashion in order to gain higher ecological reliability and social
justice (Green Strategy, 2019). Sustainable fashion is not just about addressing fashion products
or textiles. It is all about addressing the entire fashion system. This means adopting
interdependent social, financial, and ecological systems (Gordon and Hill, 2014). Myer needs to
get involved in adopting sustainable fashion for the benefit of itself as well as customers.
Through this, the company will be able to enhance its image in society by adopting different
sustainable fashion strategies. Some of the strategies that could be adopted by Myer are:
Zero waste pattern cutting
It is the technique that helps in eliminating the textile waste at the stage of designing. The
approach of zero-waste demand business to have complete knowledge regarding the textile
dimension in order to properly design the garment (Future Learn, 2019). Myer could ask its
suppliers and the key manufacturers of the clothes to adopt this strategy as through this they will
be able to plan properly the use of a piece of textile. In addition to this, there will be limited
wastage and saving cost.
Upcycling
Upcycling is one of the approaches that can be used by the business to design something new
and better for higher value as well as quality. By reusing, the business is able to save energy,
cost, chemical, and water (Future Learn, 2019). Under this strategy, Myer could ask its
customers to provide their unused clothes and other products to the store and company will

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recycle and reuse them for manufacturing different and unique products. Myer will hand over the
used product of the customer to its manufacturing partners for recycling.
Recycled material
Myer could make use of recyclable bags in its retail store because paper bags and plastic bags are
not environment friendly.
In addition to the above strategies, Myer could adopt biotechnological innovations for the new
sustainable fashion business. Innovations through bio-technology comprise laboratory-grown
spider silk which results in saving the animals, water, and land and also mushroom leather
(Susetyo, 2018).
Organizational Implications
In order for the use of digital platforms for marketing and purchase by Myers to be effective,
there is the need to be technical support on the creation of the website. Therefore, there is the
need for skilled staff to deal with customer inquiries and support, The delivery structure in the
company will also need to change with the inclusion of an e-commerce purchase site for fashion
products, the company will require a swift delivery system to reach consumers in good time.
Action Plan Timetable
 Creation of e-commerce Myers Fashion website and setting up technical support team- 3
months
 Marketing- 2 months
 Launch- 1 month
 Continuous Marketing - After the launch

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Monitoring Plan
The measures used to gauge the effectiveness of marketing are the rise in sales and products
awareness. The aim is to increases the company's fashion website visits to 50,000 within the next
6 months in order to achieve a $3,000,000 revenue from our fashion content and to increase
Myers fashion products awareness rating by 50% in 6 months through the use of digital
marketing mediums. Evaluation of progress will be done monthly where the team will be
reviewing the visits to the E-commerce site as well as the revenues generated from each visit.
Budget
MARKETING BUDGET BREAK EVEN YEAR RETURN ON INVESTMENT
EXPECTATION MILLIONS
$500,000 M 2019 $3 million
$1Million 2020 $ 5 million
Conclusion
Myers needs to prioritize its digital marketing schemes in order to stay ahead of its competitors.
Many of the competitors are shifting to e-commerce fashion websites in order to capture the
younger consumer segments. The use of digital marketing and providing offers will reach out to
new consumer segments. In addition to this, the adoption of the sustainable fashion support
business in reducing its harmful footprints in the environment and saving animals, cost, and
energy. Over 50% of those 18 to 35 years purchase their fashion online. Using digital mediums
to reach to these consumers will enhance Myers revenues and brand awareness.

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