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10INTRODUCTION The following report describes and analyses Myers generic and distinctive marketing strategies as well as providing accurate industry competitor market and SWOT analysis Evaluation of Myers marketing strategy is conducted thus analyzing the strengths and weaknesses of the strategy Finally the report recommends possible future courses of actions available to Myer in order to improve profits and prevent mistakes in the future 20BACKGROUND OF MYER Myer was established in Melbourne in 1900 and is now the largest retail businesses in Australia The founder Mr Sidney Myer was a Russian immigrant who opened the first store and ended up creating one of the largest retail businesses in Australia Mr Myer and his brother worked briefly at a drapery store in Flinders Lane before moving to Bendigo where they opened the first Myer store Myer continued to prosper and another Myer store was opened in 1908 In 1911 Sidney bought a drapery store in Bourke St Melbourne After buying up a number of the adjoining properties he built a department store on the site called Myer Emporium After successfully establishing himself in Melbourne Sidney expanded the business setting up in Adelaide and later throughout Australia In 1920 he married Merlyn Baillieu the 22-year-old daughter of an established Queenscliff family not only did Sidney Myer achieve great business success he also became a leading philanthropist Myer 2002 In 1989 Myer joined with Grace Bros to become the largest department store group in Australia Myer now employs approximately 29000 people nationally and they focus on a high standard of individual personal development With over 73 stores nationally Myer is the market leader in the Australian large retailer industry They are continually transforming to better serve their customers by tailoring their services for their rapidly changing needs Myer 2002 Today Myer is a Coles Myer Ltd company therefore there are many sister businesses of Myer such as Bi-Lo Coles Liquorland Target Megamart Kmart etc 30 CONTEXT
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