Evaluating Marketing Opportunities for Myer Holdings in the UK Market

This project, undertaken as a Marketing Project Manager for Myer Holdings Limited, evaluates the potential for business expansion into the UK market. It begins with a comparative market analysis, examining business opportunities, product ranges, and consumer behavior within the UK's departmental store sector. The project then assesses the advantages and disadvantages of these opportunities, considering factors like competition, market trends, and consumer preferences. It also addresses Myer's current marketing strategies, including product offerings, pricing, placement, and promotional activities. Furthermore, the project identifies potential risk factors, such as competition and political environments, and proposes communication strategies with stakeholders. The analysis includes a review of Myer's current marketing approach and suggestions for improvement, particularly in the areas of social media promotion and pricing strategies. Finally, it suggests methods for stakeholder communication, such as meetings, newsletters, and emails.

Running Head: IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 0
Identify and Evaluate Marketing
Opportunities
(Student Name)

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 1
Table of Contents
Question 1........................................................................................................................................2
Question 2........................................................................................................................................2
Question 3........................................................................................................................................3
Question 4........................................................................................................................................3
Current marketing strategy...........................................................................................................3
Area of Improvement...................................................................................................................4
Question 5........................................................................................................................................4
Risk Factors involved with Opportunities...................................................................................4
Question 6........................................................................................................................................4
Question7.........................................................................................................................................5
References........................................................................................................................................6

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 2
Question 1
Myer Holdings Limited can expand its business in the UK market to enhance its volume
of sales and to cover the international market in an effective manner. The analysis of the market
is explained in the below points:
Comparative Market Opportunities
 Business Opportunities: With the great growth of the UK grocery store, there are several
business opportunities for those who are already in such industry as well as for new
entrepreneurs.
 Product Range introduced: Many stores in such country has introduced the product
ranges at more accessible price points in the recent years.
 Consumer behavior: The buying behavior of the consumers in such industry is high due
to the reason of GDP growth of the country as well as the growing population (Kajalo &
Lindblom, 2015).
Market Share
The departmental stores market has risen to 11.9% between the year of 2013 and 2018
and it reached to $21 billion in the year 2018 with the channel of outperforming growth in
overall non-food retail expenditure. It is forecasted to the account for 10.6% of non-food retail
spends in the year 2018.
Current Market Trend and Trends and Development

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 3
In recent, it is about 90% off in-store purchase account by UK retail. There are about
approximately 280000 stores in the country. The grocery market in the UK has been exhibited
continuous growth. In the year 2020, it is expected that the industry will reach up to 200 billion
pounds as the inflation rate in such an industry is low (Grimmer, Miles, Byrom & Grimmer,
2017).
Question 2
The advantages, as well as disadvantages of the marketing opportunities, are explained in below
points:
Business Opportunities
Advantages
 The company can able to explore a new market in an effective and efficient manner
 The risk for entering in a new market is low due to high revenue included from such
industry in an effective manner
Disadvantages
 Huge level of risk involved in such industry due to the reason free entrants of companies
in such an industry.
 Uncertainties are also involved with the opportunities at a greater level.
Product Range introduction
Advantages

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 4
 Such product range increases healthy competition in the market that motivates the
companies to adopt innovative strategies to compete with their competitors.
 It widens the level of business in the country.
Disadvantages
 The level of competition is also increases in such a market to attract a maximum number
of consumers.
 The restricted laws of the country can create an issue for the companies to change their
product ranges that may create loss to the company at a greater level.
Consumer behavior
Advantages
 The purchasing power of the consumers increases the revenue for the companies
 It provides exposure to the company to target the maximum numbers of consumers in an
effective manner.
Disadvantages
 The taste and preferences of the consumer's changes with time that may affect the
company at a greater level.
 The cultural differences create an issue for the companies to understand the requirement
of consumers and satisfied those (Ahrens, Kelly & Van Liempt, 2016).
Market Share and Market Trends Development
Advantage

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 5
 The increase in the growth and development of the market provide an opportunity to the
company to earn maximum revenue.
 They can able to expand their business in more convenient manner.
Disadvantages
 The threat of new entrants will be high in such market due to high growth rate in such
country.
 The bargaining power of the consumers is also high in such market that force the
company to control over their cost that will affected in the profit margin of the company.
Question 3
The marketing opportunity in such a country will provide a new opportunity to the
company to grow their business in an effective manner. They can able to internationalize the
business that made them grow in the international market. The company can easily expand their
business in such a country. They have enough human resources that can able to manage the store
in an effective manner. There is also required a little huge amount for the investment that the
company can spend by realizing their share in the market.
Question 4
Current marketing strategy
The current marketing strategy of the company is:
Product: the company offers a variety of products which include beauty, menswear,
women’s wear, children wear, home ware, general merchandise as well as toys.

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 6
Price: Myer stores offer products at various price levels to deliver price levels to cater to
a diverse consumer’s base. They offer discounts on particular festivals or seasons (Bailey, 2016).
Place: the company has more than 60 stores across Australia with more than 60
locations. The company has also operated with the outsourcing office in Hong Kong and China.
Promotion: The Company has a legacy for philanthropism as well as it is known to
engage in extensive socially related activities with the name of The Sydney Myer Fund as well as
The Myer Foundation. Such social activities are the main promotional activity of the company
(Bilinska-Reformat & Dewalska-Opitek, 2018).
Area of Improvement
The company offers a variety of product to its consumers however, in the competitive
market it is required for the company to adopt strong promotional strategies to target their
consumers. Social media is one of the effective platforms that are required for the company to
adopt while promoting their products. Moreover, the company is also required to focus on their
pricing strategy that will make the company more competitive in the market.
Question 5
Risk Factors involved with Opportunities
The risks factors are explained in the below points:
 The major risk factor involved with the marketing opportunity is competition. The major
competitors for the company will be Tesco, Aldo that has maximum market share in the
UK.

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 7
 The other risk factor is the political environment of the country. The company is required
to follow the strict rules that are set by the government of the country that may increase
the cost to the company.
 The risk of uncertainty which includes a change in taste and preference of the consumers
may affect the sales of the company.
Question 6
The company is required to expand its business in the international market. They have
grabbed the Australian market in an effective manner. Therefore, they are required to adopt
international marketing strategies and need to raise funds from the market to expand their
business externally. The company is required to increase their human resources to manage the
stores at international level for which the Human Resource Manager needs to focus on their
recruitment strategies to hire the employees for their business.
Question7
The company can communicate with their stakeholders through the following manner:
Meetings: it is one of the most common methods to communicate. Myer can arrange
meetings for their shareholders to communicate with them to convey the information in an
effective manner.
Newsletter: Myer can adopt such a method to communicate with those who are not
directly involved in the project. They will advertise their information in the Newsletter.

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 8
Mails: the company can also send emails to their stakeholders that help the company to
convey their information to their stakeholders in an effective as well as efficient manner (Butt,
Naaranoja & Savolainen, 2016).

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES 9
References
Ahrens, J., Kelly, M., & Van Liempt, I. (2016). Free movement? The onward migration of EU
citizens born in Somalia, Iran, and Nigeria. Population, Space and Place, 22(1), 84-98.
Bailey, M. (2016). Marketing to the Big Middle: establishing Australian discount department
stores. Journal of Historical Research in Marketing, 8(3), 416-433.
Bilinska-Reformat, K., & Dewalska-Opitek, A. (2018). Relationships of retail chains with
customers–global approach. Studia Ekonomiczne, 360, 50-63.
Butt, A., Naaranoja, M., & Savolainen, J. (2016). Project change stakeholder
communication. International Journal of Project Management, 34(8), 1579-1595.
Grimmer, L., Miles, M. P., Byrom, J., & Grimmer, M. (2017). The impact of resources and
strategic orientation on small retail firm performance. Journal of Small Business
Management, 55, 7-26.
Kajalo, S., & Lindblom, A. (2015). Market orientation, entrepreneurial orientation and business
performance among small retailers. International Journal of Retail & Distribution
Management, 43(7), 580-596.