BUSINESS MARKETING

Macy's is a perfect example of business marketing. They carry a variety of products of different namebrands that satisfy their customers needs. Instead of traveling from store to store Macys makes it easy for you to stay in one store and get everything you need in there. Namebrands from Polo, Coach, Nautica, Steve Madden and more are sold here. They also draw our attention throughout the years with billboard adds and commercials with savings from Macy's. Especially around the holidays we have Black Friday & holiday savings. Macys makes big money during these times.

SEGMENTING AND TARGETING MARKETS

Segmenting can provide lasting value for companies. In Macy's the area that they like to target is just about anybody due to their wide variety of products. Their thing is to let people shop by body type. Lets take swimsuit shopping for example. For many women, including me, shopping for a swimsuit is a difficult thing to do. You're far from being tan and forget that certain swimsuit cuts look awful until you put them on. But wouldn’t it be great to skip the trial and error step? Yes, so both Macy’s and Nordstrom have “Swimsuit finder” sections in their websites that allow for customers to sort and view swimsuits that are flattering to their self-selected body type. If I’m pear-shaped, I’m directed towards different styles than if I were hourglass-shaped. This motivates the customers to shop only at certain places due to options like this. Making you feel comfortable as to shop by body type.

DEVELOPING AND MANAGING PRODUCTS

This Chapter was mainly about how to analyze your market and processes made to bring in a new product. New products are new to a market, they include existing products which have been improved or revised. Macy's is all about increasing their sales. By applying quality control mechanisms to products sold, maintaining services for products sold, etc. The recession has caused huge losses for the retail companies faced with intense competition and environmental changes; so they revised current business structures and strategies to integrate the changes with appropriate information systems and company culture to increase sales and reduce costs. Macy's has been such a success that the company is rolling out the effort across all of its stores. During the recession, companies have less tolerance for sloppiness so they need to be more effectively align of their offerings and efforts to the specific needs of their target customers. Since the needs of customers vary across regions, it makes sense to merchandise in different ways in different regions. An example of Macy's strategies was that in The Menlo Park, New Jersey, Macys trade area experienced a demographic shift, with Asian Americans now representing 35% of the customers base, up from 16%. The district team identified the demographic shift and responded with necessary merchandise changes with refined data. The company continues to focus on local customers needs and will be able to further serve thoes customers needs through directed digital media.

INTEGRATED MARKETING COMMUNICATION

Like all companies their goal is to sell their product through promotion. Macy's try to bring their customers to purchase mostly through sales promotion and holiday sales. Macy's is an American chain of departmental stores renowned for its depth in product variety. Some of the world's Top 70 brands found at Macy's include Lacoste, Armani and CK. Customer reviews suggest that they are very willing to forgo price in order to get what they want since Macy's has everything they want. So they promote coupon codes online to make consumers want to buy. They also promote advertisement on newspapers and billboardes. This is smart because everyday somebody is reading the newspaper or driving by an ad. Their promotional strategies is to develope strategies to maximize business performance and profitability, promotional strategies, competitively dominant merchandise assortments, by business profit maximization, and customer satisfaction by meeting demographic needs. Macy's is a luxury marketer who tries to improve their sale rates by making the customers able to purchase what they want by promoting couponds and having hoiday sale events.