Marketing Management Analysis: Myer's Strategy and Stakeholder Impact

This report analyzes the marketing strategy employed by Myer to boost its sales. The core of the strategy involves transforming stores into evening destinations by offering drinks to attract customers. The report identifies the key issue as a lack of customer connection, leading to business losses, and discusses Myer's efforts to reconnect with customers through new fashion brands and incentives like complimentary beverages. The analysis highlights how these strategies, including offering free gifts, aim to increase sales and customer spending, ultimately benefiting stakeholders. The report also examines the importance of effective marketing in attracting customers, the positive impact on stakeholders due to increased sales, and the need for quality product offerings alongside marketing efforts. The conclusion emphasizes the importance of smart marketing in driving sales and brand success.

Running head: MARKETING MANAGEMENT
Marketing Management
Name of Student
Name of University
Author Note

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Table of Contents
Introduction..........................................................................................................................2
1. Summary of the Key Issues/Marketing Implications......................................................2
2. Explanation of Issues’ Importance: Impact on Stakeholders..........................................3
3. Analysis...........................................................................................................................3
Conclusion...........................................................................................................................4
References............................................................................................................................5

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Introduction
Marketing is described as a business process or action of promoting and selling different
products and services. It is directly linked with advertising and it creates the processes of
communicating and delivering valued services to the customers. The main aim of marketing is to
showcase a company or brand in a positive light so that the engagement of the customer with the
organization or the brand increases. The report aims in discussing the marketing strategy that is
adopted by Myer to increase their sales. The reflective analysis that has been undertaken will
discuss the implication of the events highlighted in the article.
1. Summary of the Key Issues/Marketing Implications
The marketing process as adopted by Myer involve turning the stores into after dark
destination with drinks to increase the customers’ turnover in the shop. This marketing strategy
has been adopted to lure customers in visiting the stores, which in turn will rebuild the fortunes.
The key issues that has been identified include lack of connection with the customers
leading to business losses. The marketing strategy is mainly designed to reconnect with the
customers and therefore as a part of the strategy, Myer had signed a total of 70 new fashion
brands (Singer, 2019). The expectation from this newly designed strategy is to attract customers
to the shops by offering a glass of sparkling wine. The main strategy is to provide a reason to the
people to come to the store that will drive up the sales. The store has identified that offering a
few glasses of wine to the customer will enable them to spend more money that will in turn rise
the profits of the organization.
The increase in the sales as a result of the new marketing had enabled the store to focus
on delivering more unique and new products thus adding to the benefits it offers. Soon after the
success of the marketing strategy, Myer was successful in launching the spring range against the
backdrop of the Melbourne fashion week.
From the marketing perspective, the idea of luring the customers by offering a free booze
is quite beneficial from the business perspective as well. There was significant need of marketing
in Myer and therefore this steps were taken to drive the sales (Singer, 2019). Similar marketing
strategies of offering free gifts are quite common to lure customers in buying a particular

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product. These strategies are quite common and generally returns a positive result. Thus, from
the point of view of profits and marketing, this particular marketing strategy has proved to be
beneficial for Myer.
2. Explanation of Issues’ Importance: Impact on Stakeholders
The major issues that Myer faced was loss of connection with the customers. That has
found to be one significant reason behind the decrease in the sales of the company. The decrease
in the sales generally has a considerable impact on the stakeholders. The importance of the issue
is quite significant in this manner as Myer is in need of increasing the sales. The need of
increasing the sales indicate the need of developing an effective marketing strategy as well
(Singer, 2019). The loss or increase in the sales of an organization directly impacts the
stakeholders. Therefore, management and elimination of the issue becomes an important need.
Thus, an effective marketing strategy is designed by Myer by targeting the demands and
the likings of the customers. By offering a free booze whenever a customer visits Myers store,
the marketing executive have managed to know the soft corner of the customer and has
succeeded in making use of the same in driving their sales up (Kerin & Hartley, 2015). As
expected, customers are lured or attracted by the offering of free booze leading to the rise in the
sales.
This entire scenario if analyzed on the perspective of marketing, seems to have a positive
effect on the stakeholders of Myers. The increase in the sales has gradually driven a change in
the offerings of the stores as well. Myers have worked with new collections and started offering
new items once an improvement in the sales processes is observed. This particular case indicate
that effective marketing is necessary for advertising the products and offerings and smart
marketing can often help in attracting the customers towards a particular brand.
3. Analysis
The analysis of the entire case from a marketing perspective indicate that it is necessary
to design effective and smart marketing strategy for attracting the customers towards a particular
brand. The increase in the sales of Myers have been possible mainly because of the effective
marketing by which the customers are attracted or interested in checking out the offerings of the

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store. With their effective marketing strategy, Myer have been able to attack the customers to
their stores which in turned have helped in driving up the sales by a good 40%. This establishes
the importance of effective marketing in success of a store or a brand (Lovelock & Patterson,
2015). Apart from effective marketing, Myer had also redesigned its product offerings to provide
their customer with new collections. His indicate that apart from effective marketing it is
significantly important to deliver quality products as well.
The successful marketing strategies generally impacts the stakeholders in a positive
manner as the profit margin of the company increases (Kotler et al., 2018). The chosen article
has illustrated the defying need of luring the customers in checking out the product offerings of a
brand because of the increase in competition. The implication of this issue is that marketing is a
defying need of a brand or company and a large part of the success of a brand is dependent on its
marketing strategy.
Conclusion
The reflective report provides a detailed idea of the key issues that are faced by Myer and
the marketing strategy that is adopted by Myer to increase the sales. The report illustrates the
need of effective and smart marketing in improving the sales of a store and also enforces the
need of smart marketing in attracting the customers to the stores.

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References
Kerin, R., & Hartley, S. (2015). Marketing: the core. McGraw-Hill.
Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2018). Marketing management:
an Asian perspective. Pearson.
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.
Singer, M. (2019). Smaller stores and free booze: Myer's plan to lure shoppers after dark.
Retrieved from: https://www.smh.com.au/lifestyle/fashion/smaller-stores-and-freebooze-
myer-s-plan-to-lure-shoppers-after-dark-20190830-p52mik.html