Media Markt in Greece has started a very aggressive advertising policy after the organizational changes that took effect in the first of November. More specifically, Saturn brand (the sister company of Media Markt) left Greece and three stores were closed while other were converted to Media Markt. Media – Saturn Administration SA, started “shouting” in media campaigns that they are “ALIVE”, a message to be heard both by customers and by competition. In the same time, they started with very aggressive pricing policies in order to lure customers from other major retailers. As there is no growth in the Greek market the only solution for retailers to generate sales is by “stealing” one another’s customers.
Furthermore, the whole Metro Group (member of which is Media – Saturn Administration SA) which so far seemed to ignore web stores and internet sales, is now starting to consider the internet channel as a threat. I remember spokespersons of the group stating that they were not interested in starting an internet store at that time. However now they feel that competition is moving forward and they are left behind. Their countermeasure to the intense competition is the “New Media Markt Price”; a price which is valid not only for selling online but for the store as well. The “New Media Markt Price” evangelizes a competitively low and permanent price for their products in contrast with the short term extremely low prices of internet competition with offers that just expired or with products available to be shipped in your next life. This switch in the group’s strategy, was clearly and boldly indicated today when the Greek version of the Media Markt’s website started showing prices for the first time. On top of that, there is also the capability of reserving a product (such as a flyer offer) to purchase at the physical store of your choice.
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Wow!!! I just found out that if you search for “greece referendum” in Google, this blog appears in the very first page of the results. Pretty amazing if you take into account that the referendum has not just been announced and many websites have already lots of content about it.
The Greek Prime Minister announced that a referendum is to take place about the new European debt deal. Not many details have been announced yet. The most important decision of the European debt deal is about the private holders of Greek bonds to sustain a 50% loss of their value.
The Prime Minister has also said that he will seek a vote of confidence from the Greek Parliament.
The Greek Governement is ready to either tax or confiscate the money of Greeks that sent their money to Swiss Banks. A heavy taxation of 20 – 30% is about to be agreed with the co-operation of Switzerland. This model was firstly introduced by other countries such as Germany and the UK. A huge amount of money has leaked to other countries -especially Switzerland- in the last months because of fears that Greece will default and people will lose their money. The issue is being discussed several months but now a final agreement seems to be close.
I used a new software for web templates called Artisteer (version 3). I made this template for the blog and I am also re-designing my joomla templates.
A/R: The most critical function of business right now in Greece. Selling is no good if you are not being paid. Right now in Greece, retailers are going out of business everyday. Most of them leave only debts to their suppliers!
On 01 Jan 2011 Samsung will stop selling its products through a distributor in Greece and start as an individual company subsidiary of Samsung Europe.