Macy’s

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Institution
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Macy’s
Macy’s Company is a department store that operates in Guam, Puerto Rico, Hawaii, and the continental US. Its headquarters are situated in Cincinnati, Ohio, the US. The division had over 670 stores in 2017 (Pasquarelli 1). Macy’s is a subsidiary of Macy’s Inc. since it was established in 1858. It was the biggest department store firm in the US by retail sales in 2015, but in terms of revenue, it was the 15th-biggest retailer (Macy’s 1). It deals with products such as housewares, beauty products, jewelry, furniture, bedding, accessories, footwear, and clothing.
Business model
Macy’s business model involves a mass-market system without any major customer segments’ differentiation. The firm also targets all potential customers who need general merchandise. The company delivers three main value propositions, which include brand/status, convenience, and accessibility (Business wire 1). The organization establishes accessibility by offering a broad range of options. Its selection involves a wide variety of merchandise such as accessories, apparel, cosmetics, and home furnishings as well as other consumer products. It also delivers convenience by facilitating a simpler life for customers. The majority of its stores are situated at urban or suburban sites especially in densely populated areas where the large population can easily access them (Macy’s 1). Macy’s has also online platforms, which helps customers to purchase goods online.
Due to its exceptional success, the firm has created a robust brand.

In this regard, it is the biggest department store in the county based on retail sales. It has over 158,000 workers, and in 2015, it recorded $27.1 billion in annual revenues (Business wire 1). It also has hundreds of stores, which operate under brand names Bluemercury, Bloomingdale’s Outlet, Bloomingdale’s, Macy’s Backstage, and Macy’s.
Macy’s key business networks include a channel of retail stores situated in the US. Through its website, it is able to sell its items (Business wire 1). Furthermore, the organization conducts its marketing via participation in conferences and trade shows, advertising, and social media. The success of the firm is based on its ability to establish strong customer relationship (Macy’s 1). The interaction is through a self-service system where customers use its products while having restricted connections with workers.
The business model of Macy’s company involves delivering products and distributing related services to consumers. Some of its key partners include manufacturers and suppliers. Moreover, crucial resources include human resources and physical resources. In terms of cost structure, the firm has a cost-driven system intending to reduce expenditures via substantial automation and value propositions of low price (Business wire 1). Its largest driver of costs includes sales, fixed, and administration costs.
Macy’s goals, objectives, and strategies
Corporate
The main corporate goal is to become a retailer with the capacity to identify various opportunities and develop an explicit path for leveraging it. Therefore, the company must utilize advanced technologies and concentrate resources on those elements most essential to the key customers (Macy’s 1). Macy’s objectives to raise sales profitably and to sustain profitability rate, which is best for retailers. Addition, the firm intends to grow the returns on investment (ROI) and to optimize returns from a total shareholder (Macy’s 1).
The corporate strategy focuses on shifting an array of media that it uses in marketing. In addition, the approach will entail improvement of its fashion cred with consumers and launch a novel loyalty package each year (Pasquarelli 1). The move is geared towards appealing to younger groups of customers and sustaining the loyalty of traditional customers.
Division
The division’s goal is to meet the needs of the customers by redirecting its actions towards offering outstanding shopping experience and personalized merchandise in stores and online (Pasquarelli 1). The objective is to entice, retain, and nurture new customers by ensuring that acquire quality services. The strategy of the division is to apply customer-centric approaches with an imperative competitive edge (Thomas 1).
Functional or departmental
The departmental goal is to offer customers a chance to buy high-quality merchandise at an affordable price. The department has adopted a strategy that will concentrate on increasing its off-price brand separate from its full-price stores (Thomas 1). The objective of the backstage strategy is to increase its competitiveness and stabilize its business as well as remain relevant to customers.

Works cited
Business wire. “Macy’s, Inc. Evolves with Changing Customer Landscape, Invests for Continued Sales Growth.” Businesswire.Com, 2017, https://www.businesswire.com/news/home/20150108006314/en/Macy%E2%80%99s-Evolves-Changing-Customer-Landscape-Invests-Continued.
Macy’s. “Corporate Vision and Financial Objectives.” Www.Macysinc.Com, 2018, https://www.macysinc.com/about-us/corporate-vision-philosophy-financial-objectives/default.aspx.
Pasquarelli, Adrianne. “Macy’s Unveils Marketing Strategy Under New CMO.” Adage.Com, 2017, http://adage.com/article/cmo-strategy/macy-s-unveils-marketing-strategy-cmo/309290/.
Thomas, Lauren. “Macy’s Looking To ‘Aggressively’ Roll Out Its Off-Price Strategy, CEO Gennette Says.” CNBC, 2018, https://www.cnbc.com/2017/05/11/macys-will-aggressively-roll-out-its-off-price-plan-ceo-says.html.