Business Research for Hoteliers PDF

Running head: MYER STORES
Business Research for Hoteliers
(Myer Stores)
Name of the Student
Name of the University
Author’s Note

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MYER STORES
Executive Summary
This report has been focused on the business problems of Myer Stores in Australia. This report
has been based on the presentation of assignment one based on Myer Stores. This report contains
business problem of the Myer Stores and identify issues in the company. The aim of the research
and objectives have been discussed in the research. The methodology followed in the research
has been discussed. This research has used qualitative and secondary approach for data
collection process. The research gaps and limitations have been provided in the study. The
research has followed all ethical consideration related to the study. A proper timeline and Gantt
chart have been provided in the research.

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Table of Contents
SECTION 1.....................................................................................................................................5
1. Literature Review.......................................................................................................................5
1.1 Background............................................................................................................................5
Reasons by which customer loyalty can be returned...................................................................5
Strategies can be used for increasing competition in the market.................................................6
Strengths and Weaknesses of competition..................................................................................6
Brands that might help in increasing sales of Myer Stores.......................................................10
Economic and social factors affecting Australian fashion industry..........................................12
1.2 Assessment..........................................................................................................................14
SECTION 2...................................................................................................................................18
2.1 Aim, Objective and Research Questions.............................................................................18
2.2 Approach..............................................................................................................................19
2.3 Research design...................................................................................................................19
2.3.1 Research Technique..........................................................................................................19
2.3.2 Population.........................................................................................................................20
2.3.3 Sampling Design...............................................................................................................20
2.3.4 Implementation plan.........................................................................................................21
2.3.5 Suggested Questions.........................................................................................................21
2.4 Project Schedule......................................................................................................................22

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References......................................................................................................................................25

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SECTION 1
1. Literature Review
1.1 Background
Business organizations have been facing a lot of problems at different field. There have
been various scenarios in which business organizations have been facing problems related to
their operations and sales. Myer has been committed for responsible business growth and
integrating environmental, social and ethical considerations during operations (Payne, 2014).
Their strategy aims at maximizing positive outcomes and influences by our stakeholders for
integrating all aspects of sustainability. Sales of products have been increased by 1.7 percent to
$3,195.6 million with opening of new stores and online businesses (Myerstore.com, 2018). Myer
stores have been facing loss of about $500 million in the year 2018. Myer’s sales in the financial
year were down 3.2 per cent to $3.1 billion, leading to a loss of $486 million compared to the
previous financial year. Myer's total online sales were $239.4 million, including $30.8 million
via in-store iPads, sass & bide and Marcs and David Lawrence online sales and Myer Market.
Operating gross profit declined by 2.9 per cent to $1.18 billion. No final dividend will be paid.
Reasons by which customer loyalty can be returned
Business organizations have been facing different types of issues in their operations in
the market. There has been fluctuation in the graph of the consumer behavior for a particular
company over the years (Gardetti & Torres, 2017). Consumer behavior has been a study of how
consumers are related to the company’s products and services offered in the market. The
behavior possessed by customers in order to purchase, sell and make decision for purchasing
include under this customer behavior. Decision making criteria of the customer depends on the

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brand value and quality of products. There have been different type of customers in the market
including loyal customers and temporary customers. Loyal customers are customers who are
connected with products and services of the company repeatedly (Henninger et al., 2015).
Marketing of products and services of the companies have been an important criteria for
acknowledging customers about products and services of companies.
Strategies can be used for increasing competition in the market
The overall marketing concept depends on three basic orientations including customer
orientation, customer satisfaction and common goal. Marketing depends in particular plan. A
marketing plan include several elements such as marketing objectives, strategies, mission
statements and assumptions (Dobele et al., 2014). The marketing plan involves the process that
business analyze environment and its capabilities. Marketing strategy has been a fundamental
method that helps in creating objectives of marketing. The use of marketing strategies have been
helping in maintaining keen approach to maintenance of sales of company in the market (Black
et al., 2014). Customer behavior has been depending in the amount of product and services of
the companies. The production concept has been depended on the customer prefers products are
available and affordable. The selling concept has been the drive of marketing using all other
elements in sales.
Strengths and Weaknesses of competition
The current state of the retail sector has been surveyed in the annual report that it has
been in a fragile customer confidence towards companies in the market. Over past six months,
there has been decline in the confidence of customer towards highly competitive market with
high discounting offers (White, Nielsen & Valentini, 2017). Customers have been looking for
quality and discount in products. Households have been saving more to their income. The