Euro 780 million in one quarter In the 2019 financial year, Myer, with its multi-million-dollar advertising budget reported AUD24 million EBIT. This was better than any of the previous five years, but still well below a commercially acceptable level. Zara, on the other hand, has NO advertising budget and generated a profit in the April […]

Euro 780 million in one quarter In the 2019 financial year, Myer, with its multi-million-dollar advertising budget reported AUD24 million EBIT. This was better than any of the previous five years, but still well below a commercially acceptable level. Zara, on the other hand, has NO advertising budget and generated a profit in the April 2019 quarter of 734 million Euro. It is on track for a 3 billion Euro profit in 2020.There are several reasons for this disparity, but perhaps the most important is that ZARA understands that marketing is not advertising – and Myer does not. Zara has built a winning brand and supporting culture that brings the brand to life and enables the business to exceed audience expectations. Myer tells the audience how good they are and then delivers something very different.It is a common misconception that marketing and advertising are much the same thing, or at…