Marketing Management Strategies of Myer Australia

Running Head: MARKETING MANAGEMENT 0
Marketing Management

MARKETING MANAGEMENT 1
Executive Summary
This report outlines and analyses various marketing and planning strategies of
Myer. It acknowledges industry competition and provides SWOT analysis to
understand the strength and weakness of the brand in the internal environment.
With the help of 4Ps, several recommendations are also justified in order to
achieve strategic objective of the firms.

MARKETING MANAGEMENT 2
Table of Contents
Introduction................................................................................................................................3
5 Cs of Myers Australia.............................................................................................................4
Collecting of information of about 5Cs.....................................................................................6
Developing marketing strategy..................................................................................................7
Justification of marketing mix of the company..........................................................................8
Conclusion................................................................................................................................11
References................................................................................................................................12

MARKETING MANAGEMENT 3
Introduction
Myers operates in the retail industry which generally includes the higher level of competition
as due to larger in size (Matsa, 2011). In 1911, Myer brothers established this departmental
store in Australia. From then onwards, the company has expanded in more than 64+ locations
considering all Australian states.
The aim of the company is to focus on greater investments into their best stores and most
valuable customers. They also need to enhance merchandise and increase the superiority in
the shopping experience to achieve the customer needs effectively. For this, they have to
meet several challenges faces in the retail industry.
The mission statement of Myers Australia states that it wants to become the trusted resource
all over the globe in order to gain success among all the local retailers (Hayward, 2013). The
company also stated that Myer Market is a platform for all Australians to discover
international lifestyle brands and entrainment at one place. This platform is also a user-
friendly shopping destination which is managed by the Australia biggest Department store.
The company use distinctive strategy for the customer awareness by using of slogans which
help them in connecting with the customer on a continuous basis. For example – “There no
other store like Myers”.
Myer Australian makes continuous investment in the digital strategy so that to target
customers and also make strong customer experience towards the brand (Lin, Huang and
Tseng, 2007). The CEO of Myers also stated that they are working on four pillars of strategy
which is based on customer led offers, wonderful experiences, Omni-channel shopping and a
productivity step change. This plan needs the investment of around $600 million which is
divided into five year transformational plans. This gives them significant opportunity to make
deepen their relationship with the customers.
In the current phase, Myers is specialised in 11 main product categories which includes
Women swear, Menswear, Miss Shop, Cosmetics, Accessories and handbags, Intimate
apparel, Homewares, Toys, Electrical goods Children wear and General merchandise. This
shows that Myers has a strength of diversification in their product line which also provides
the company a competitive edge in the retail industry (Newell and Peng, 2007).