Media Markt
Europe’s Number 1
Media Markt offers customers a wide range of products at consistently low prices. The range covers an average of 45,000 different products. In the large flagship stores, such as the Media Markt store in Munich-Haidhausen, customers can choose between as many as 100,000 different products. The Munich store, which was opened in May 2009, is the world’s largest Media Markt store with a selling space of 10,000 square meters.
Competent staff …
The generous layout of the stores allows all the products to be displayed ready for demonstration. This enables customers to make a well-informed buying decision on the spot. Competent sales staff and an impressive range of services such as finance options, extended warranties, delivery and installation are a given at Media Markt.
… and a lowest price guarantee
One of the cornerstones of Media Markt’s business concept is its lowest price guarantee. This means is that if a customer is able to find the product purchased for a lower price at a comparable competitor in the region, he or she will be reimbursed the difference in price. Media Markt’s strategy is to offer consistently low prices rather than one-off special offers - this inspires customer trust.
Closer to the consumer
A decentralized organizational structure is the secret of this success. Store managers are responsible for the range of products they offer, pricing, personnel planning and marketing. Employees also enjoy a high degree of self-reliability. Flat hierarchies and the freedom to contribute ideas and act on one’s own initiative are actively encouraged. This not only provides for a high level of motivation and a high standard of customer service, but also means that managers from Lisbon to Moscow can tailor the range of products they offer in their stores to meet local demand.
Expansion on the Bosporus
The company's consistent philosophy of focussing on customer needs has proven to be highly successful. Ever since it was founded in 1979, Media Markt has been expanding at a steady pace. First within Germany and then, from 1989, abroad. Today, Media Markt has stores in 14 European countries. The retail brand has focused its expansion in particular on the dynamic growth markets in Eastern Europe and, for example, celebrated a spectacular triple opening in 2007 in Moscow. In that same year, Media Market also launched operations in Turkey, where the first Media Markt store was opened in September in the teeming metropolis of Istanbul.
High recall value
Media Markt’s dynamic business development is closely linked to its strong advertising presence. Surveys show that Media Markt’s advertising is by far the best known in its market segment. 96 percent of all Germans associate the slogan “Ich bin doch nicht blöd“ (Hey, I’m no fool!) with the retail brand.
