Macy’s Marketing Strategy, Creative Essay Example

A1. Macy’s undertook the dramatic overhaul of its marketing strategy because it may have discovered that very few customers were repeat customers and when they were, they bought quite infrequently. The company might also have discovered that the customers who visit stores buy more and are more profitable in the long term, thus, the company wanted to identify ways in which it can influence customers in visiting brick-and-mortar retail outlets more often.

A2. The knowledge Macy’s had gained about its target customers gave the company valuable information such as customers’ preferences, purchasing habits, and tastes. Using the information was only the natural thing to do because of numerous benefits to the company. First of all, it meant more efficient operations because the company now could focus on things that customers wanted which means its inventory turnover would improve as well as profitability and liquidity. The product selection that appeals to customers and reflect customers’ tastes also means strengthened customer loyalty as well as repeat business from them. The information was also valuable to design marketing strategy by focusing on needs and wants that Macy’s could help its customers fulfill.

A3. Macy’s has witnessed that its “Believe” campaign was a success among its employees and customers because different stakeholders care about the social impact an organization make on the society. Thus, the company should adopt responsible corporate citizenship as not a one-time marketing campaign but as a permanent aspect of its operations to forge a new corporate identity. Macy’s can take a lesson from Target in this regard which donates 5 percent of its corporate profits to the communities each year (Target Brands, Inc.). The company may choose to donate a certain percentage of its profits to the communities each year and this strategy may actually motivate employees to work harder to improve profits as well as customers to become more devoted to the company.

Work Cited

Target Brands, Inc. Corporate Responsibility. 16 September 2013 <https://corporate.target.com/corporate-responsibility>.