It is one of the nations premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 800 Macys department stores and furniture galleries in 45 states, the District of Columbia, Guam and…
Macy’s financial statements reveal that its sales in the United States have gone down in the last 5 years. Macy’s can use this opportunity to expand into a new country’s market. Secondly, over the past few years western media has played a significant role in influencing the culture and trends in the region. The demand for western goods has increased and consumers are looking more and more branded products. Customers now present a market which is willing to spend more on high quality goods.
The number of department stores in Pakistan is very limited and competition is local. A department store will be welcomed by the consumers. This will give Macy’s a chance to ground itself before new competition enters the market.
Macy’s is very well established in its home country and can explore opportunities in the foreign market. The management over 800 stores across the nation has significant expertise in marketing medium to high range products in a new country.
Lastly, despite some challenging environmental factors, barriers to entry in Pakistan are low. Expanding into a newer region may also open doors to further expand within the country as well as the region of South Asia.
Before a new market can be entered it is important for Macy’s to develop an international marketing plan to study the market and situation in the host country and determine the most suitable actions to take. International marketing plan provides market entry and targeting strategies and prospers the actions that are necessary for a business to get its product or service into the target market.
Economic situation in the country is similar to that in the rest of the world, under the effects of the current recession. Over the last ten years, the employment rate increased giving rise to purchasing power.
On a socio-cultural level the country has greatly fallen under western influence due to the proliferation of ...
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