Nordstrom’s Success - 1885 Words

Nordstrom’s Success Beata Anna Kolankiewicz Principles of Marketing-MKT 100 Dr. Ella Carter November 27, 2011 Strayer University Nordstrom’s Success 1. Identify the type of retailer that Nordstrom s is classified as. Describe the characteristics it shares with other retailers of this type. Nordstrom is a prominent retailer that can be found in most major metropolitan cities. It was founded in 1901 by two partners, John W. Nordstrom and Carl F. Wallin who began selling shoes in the Seattle, Washington area. Today, Nordstrom operates over 180 retail locations across the country. (Gross amp; Salamie, n.d.) Although Nordstrom targets a more upscale clientele, it is still considered a large independent department store that†¦show more content†¦This store is an off-price retailer that buys the overstock or imperfect items from other department stores. The prices are usually lower in contrast to Nordstrom that sells exclusive clothes from various designers. The level of service is much lower than in Nordstrom. Salespeople are not as enthusiastic and motivated to provide that one-on-one attention to their customers. As a result, they do not tend to build long-term relationships with customers. Usually a customer cannot find an item due to the store s disorganizatio n and it is difficult to ask for help finding specific products. Furthermore, Ross strict return policies and guidelines make it difficult for customers to return items. 3. Analyze the six components of Nordstrom s retailing mix to determine which have been the most important to the company s success. Provide a detailed rationale. The six components of a retailing mix consist of the six P’s to sell goods and services to the ultimate consumer: product, place (distribution), promotion price, presentation and personnel. Nordstrom’s retailing mix begins with product. It carries a huge assortment of products and has access to obtain items for customers if it is not found within the store. The second component of retailing mix is place, which in the case of Nordstrom there are various physical locations in most states with hours targeted for customers’ needs. There is also an online storeShow MoreRelatedBusiness1288 Words   |  6 Pagesâ€Å"Nordstrom: How to Succeed by Selling Just One Shoe† Hassan Suluki Strayer University MKT 100 02/24/2011 â€Å"Nordstrom: How to Succeed by Selling Just One Shoe† Identify the type of retailer that Nordstrom’s is classified as and describe the characteristics it shares with other retailers of this type. A store like Nordstrom has built a successful model on availability of knowledgeable salespeople, and other luxury or near-luxury retailers would be advised to pay attention. But a mass retailerRead MoreAnalysis Of The Article How Nordstrom Built The Worlds Best Customer Service Machine 1311 Words   |  6 PagesIn the article â€Å"How Nordstrom Built The World’s Best Customer Service Machine,† by Toller (2015), states that Nordstrom’s massive success is highly attributed to its single rule: â€Å"Use good judgment at all times.† Nordstrom for more than a century now, is one of the most popular fashion-oriented retail companies ever existent in the history of business. Its simple and precise rule is the core reason as to why employees are self-driven to work passionately, each striving to provide the finest of customerRead MoreMarketing1135 Words   |  5 PagesIdentify the type of retailer that Nordstrom’s is classified as. Describe the charact eristics it shares with other retailers of this type. The type of retailer Nordstrom is classified as is a Department store. A Department store is a retail establishment which specializes in satisfying a wide range of the consumer’s product needs, carries a wide variety of shopping and specialty goods, including apparel, cosmetics, houseware, electronics, and sometimes furniture. Nordstrom fall into this categoryRead MoreNordstrom s Marketing Pl Nordstrom Stores, Clothing, Accessories, And Cosmetics For Women Essay1105 Words   |  5 PagesNordstrom stores and website. Nordstrom’s profitability demonstrates similar results as compared to competing companies, however, indicates positive future performance. From 2014 to 2015, Nordstrom’s income decreased by $120 million as a result of increased cost of goods sold and administrative expenses. The retailer continues to invest heavily in online technologies and order fulfillment, however, it has minimal improvement up to this point. In addition, Nordstrom’s growth-oriented investments inRead MoreNordstrom: Dissension in the Ranks? Essay833 Words   |  4 Pages1. What problems does Nordstrom’s evaluation/compensation system have? Think about this question while considering the objectives of the Company’s evaluation/ compensation system, what measures it took and what happened as a result. Nordstrom’s Evaluation System and its Problems Based on my analysis, the Company’s compensation systems poses serious problems which are inadequate measurement of performance through sales per hour (SPH) ratio as the only Key Performance Indicator (KPI), opposingRead MoreNordstrom Case Study1090 Words   |  5 PagesNordstrom became the largest independent shoe chain in the United States. By 1960, Nordstrom decided to enter the clothing arena by purchasing Best Apparel, and continued to expand it markets through the acquisition of other luxury goods. Nordstrom’s continued growth and success stem from their business philosophy based on â€Å"exceptional service, selection, quality and value† (About Nordstrom, 2011). Today Nordstrom â€Å"has grown from one downtown Seattle shoe store into a nationwide fashion specialty chain withRead MoreSwot Analysis Of Nordstrom1256 Words   |  6 PagesNordstrom has experienced incredible success since their inception, the organization has realized declining sales in the ir retail stores. In order to combat a change in consumer spending habits, the organization has created a new strategic and personalized offering called Nordstrom Local. Nordstrom Local offers a personal stylist, a beverage bar, and an engaging environment all in the pursuit of finding the perfect look. This latest offering represents a change in Nordstrom’s strategic offering to targetRead MoreNorstorm987 Words   |  4 PagesIdentify the type of retailer that Nordstrom’s is classified as. Describe the characteristics it shares with other retailers of this type. I would classify Nordstrom’s as a specialty store due to the fact that their service levels are high, assortment is narrow, price would be moderate to high, and the gross margin is high. Also, a statement from the case study from Industry observer Lior Arussy calls Nordstrom’s business strategy â€Å"greed through love.† Nordstrom’s shares the same characteristics asRead MoreNordstrom vs. Macys1268 Words   |  6 PagesCanadian malls were almost 50 percent higher in 2011 than sales per square foot at American malls. This is a budding market that Nordstrom will need to act towards if they hope to keep up with the competition in the future. Important Decisions Nordstrom’s has made many very important decisions in the past that have shaped them into the company they are today. The first and most important came in 1901 when founder John W. Nordstrom decided to use the money he had left from the gold rush to open aRead MoreMotivating High Levels Of Effort Towards Organizational Goals1261 Words   |  6 Pagesactions based on motivation for an established outcome, and success of the model relies on close links among its three main components: effort, performance and outcomes (class, session 4). Nordstrom, as an example, created many motivational triggers in an attempt to maintain the company philosophy to â€Å"offer the customer the best service, selection, quality and value.† (HBS, page 2) The expectancy model provided a framework to evaluate Nordstrom’s compensation system for sales associates, and although