Swot Analysis Of Myer

Myer is part of the Department Stores industry, and is one of the 4 major players in that particular industry. (IBISWorld, 2014). The industry is dominated by Wesfarmers Ltd, Woolworths Ltd, Myer Ltd and David Jones Ltd. respectively. The industry is estimated to be worth $19 billion dollars, and expected to grow by 0.3% over the next year. Since Myer is more upscale, it tends to compete primarily with David Jones rather than K-mart, Target and Big W, who have a larger market share.

Rivalry: The rivalry in the retail industry is medium/high. Even though there are may retail companies in Australia with similar product offerings, only few belong to David Jones strategic group. On the other hand, the high fixed cost and industry overcapacity will eventually lead to the exit of the weakest market players.

Strengths Finder 2.0 identifies my top five strengths are adaptability, restorative, individualization, communication and strategic. I must use these strengths every day in my job and my home life. These strengths are apparent in all areas of my life both at work and home.

For this growing population, we can track the merchandises and find out what kind of items the customers spend money on. We gather the data and analyze the pattern and what style the customer is looking for. We send e-mails to the customers when getting new items that fit the customer’s dress preference with style suggestions.

Listed below are statements about shopping behavior for clothes and clothing fashions. Please check one box for each statement to indicate the extent to which you agree or disagree with each

Myer, the largest department store retailer in Australia, re-listed on the Australian Stock in November 2009.

Of the hundreds of named brand clothing that form part of the retail and fashion industry I chose to compare, for my analysis, Abercrombie & Fitch, Forever 21, American Eagle, and H&M. These stores are prominent, well-known for selling apparel, shoes, and accessories by the means of offering sales and promotions to their customers. This is a clever strategy for attracting customers, allowing them to believe that they bought goods at affordable, convenient prices – and not to mention the prestigious name prescribed to the clothing brands. Using keyhole.co as my main source, I obtained relevant and valuable information regarding the status of these brands. My intentions were to compare a period of 14 days, however, due to the limited access that I received from my free trial, the program only allowed me to see fewer of the dates than I anticipated. I want to take this opportunity and mention ahead of time that due to the various and distinctive products that are sold from these stores, when looking for the “spending capacity” I decided to focus on shirts/ jeans for men and women and compare the prices among them since each of these retailers carry those items and as a way to make this report easier to contrast and comprehend. Also, when approaching the section of “setting”, I screen-shotted some of the images on Instagram and made them into a collage to separate the type of clothes and trends that each of these brands sell currently. In the following modules

Although the Mortgage banker built rapport and addresses the client by her first name, we should still remain formal ( last name) in our greeting to make sure we are meeting our Charles Schwab requirements.

Today, fashion choices plays a major role in influencing the self-perception of different people. In order to understand how this happens, it is a good idea first to ascertain what self-perception is. This is the view of an individual about themselves as well as the physical and mental attributes that make up the individual. The theory of self-perception holds that individuals tend to develop certain attitudes through making observations of their own behavior as well as making conclusions of the attitudes that have led to them. One of the elements that influences self-perception is fashion choices. This is what this research paper will be based on. The paper will examine in details how fashion choices influences the self-perception of different people.

Such a bold position requires a new approach to marketing.  The authors present a thesis of the Influence Mix, which introduces that there are three influences on consumer decision-making — the individual’s prior preferences, beliefs and experiences (P), other people and information services in the form of reviews and

There Is a similar relation among the clothes. Several customers shop there based on the quality and prices as well as the features associated with the products. An advantage of the store is that it has a wide product mix and various offering in different categories and all these can be located at one place. This attracts a wide variety of customers. In line with their positioning of offering quality, trendy products, the brand is consistently updating its product line. The brand does not focus on innovation but rather on always leading trends. In relation to the product life cycle, clothing has a short life span from the first to last stage as tastes change easily. For this reason, it is important to constantly anticipate consumer tastes and preferences prior to launching a product so as to retain and possibly build customers loyalty. It is also necessary to develop a successful marketing strategy to display product offerings.

Mydin offers varieties of similar range products as their competitors where they are still able to undercut prices by reasonable percentages. Mydin’s pricing strategy is low price strategy where this strategy emphasizes on low price products as well as maintaining the quality of their products. It also focuses on reducing the cost from their operation to produce lower price products yet good quality. Besides that, Mydin used low price strategy to attract lower and medium income group in across Malaysia. Therefore, lower and medium income families are willing to purchase at lower price and high quality products at Mydin. Nevertheless, Mydin able to sustain its customers for long period of time and it will increase customer loyalty through their low price strategy. In addition, this low price strategy may attract small wholesalers and petty traders in getting cheaper supplies from Mydin. “It has also contributed to the business expansion and is reflected by an increase in number of wholesalers and petty traders who have registered as their frequent buyers (Armum, N.D)”. Furthermore, Mydin also emphasize in bulk buying and bulk selling to enjoy lower prices. Thus, Mydin selling in bulk enable to cut cost as well as sustains lower price for its wholesaler, bulk purchasers and end user. Therefore, Mydin was encouraging people to buy in bulk in order to save more. In addition, Mydin purchase raw materials in bulk in order to save more cost. “Mydin sources merchandise both locally and from other countries including Bangladesh, China, France, Hong Kong, India, Indonesia and some more” (Armum,

Like the way we just saw that 60% of the online purchasers are women, Similarly with changing social structure and society becoming increasingly contemporary, purchasing garments is no longer the forte of only women. Today men are becoming increasingly brand conscious and trend savvy. Now let us try to identify the key drivers that influence the decision making process for garment purchase which is different for men and women.

During the information search stage of their decision-making process, the consumer stated that they constantly looked at online shops and magazines to improve their personal understanding of fashion. It was noted that the consumer’s awareness set consisted of ten different brands. However, the size of her

According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.