Nordstrom Cheryl Akins Professor Araya Marketing 100 June 13, 2011 Nordstrom 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 classified as an upscale large independent department store. It shares the same characteristics as Macy’s, JC penny’s and Dillard’s who also sells clothing, accessories, handbags, jewelry, cosmetics, and fragrances. 2. Describe Nordstrom’s level of service on the continuum from full service to self-service.Give an example of a store that would be on the opposite end of the continuum and explain their differences. Nordstrom went from full service to self-service.
When Nordstrom was full service it was able to serve customers, mostly satisfied but it became overwhelming. Most people were ordering products off the internet, but when it came to return the item because of dislike, then a lot of Nordstrom’s stores did not except online product.
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Target is a good example of a store that would be on the opposite end of the continuum. They are not as elegant as Nordstrom. 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.
Nordstrom’s retailing mix begins with product. They carry a huge assortment of products. Second is place. Nordstrom has numerous physical locations with hours targeted for customers who come there and also an online store that is up and operational. Third would be promotion. Trying to get the customers to buy the product. Fourth of the retail mix is price.
Nearly everything inn Nordstrom is expensive, they are always having sales.Presentation is the fifth element of the retailing mix. It is the way that you display your products to your customers. The sixth component of the retailing mix is the most important one for Nordstrom is Personnel. Nordstrom’s intense focus on the customer and delivering excellent customer service is vital to the store’s success. The salespeople are willing to go above and beyond as they give individual attention to each and every customer they encounter. 4.
Discuss the primary challenges Nordstrom faces in the current retail climate.The primary challenges that Nordstrom faces in the current retail climate would be its competition with higher end stores such as Saks Fifth Avenue, Neiman Marcus, Barney’s, and their continued availability of products. 5. Discuss how the competition has changed in recent years, along with consumer expectations. Competition is hoping on the price-promoting bandwagon. Nordstrom don’t rely on promotions, be it one-day sales, coupons, or ‘friends of friends’ sales. Going the extra mile sets Nordstrom apart from other retailers.
Their perfected art of keeping the customer number one has made this retailer successful on so many levels.