Nordstrom 's Marketing Pl Nordstrom Stores, Clothing, Accessories, And Cosmetics For Women Essay

After the financial analysis, it is clear that Neiman Marcus has a massive amount of debt that not only continues to grow, but it is clear that Neiman’s currently has issues making enough money to pay back their debts. Compared to other luxury retailers like Nordstrom and Saks, Neiman Marcus has a significantly smaller number of stores with 42 locations while Nordstrom has 121 stores in the US and Canada. With fewer stores Neiman Marcus has to make sure that they are appealing enough for their customers to want to take the extra time to come to them rather than going to a Nordstrom that is more convenient for them. This is also proving to be an issue with Neiman’s with customer loyalty. People are not as loyal to certain stores as they have been in the past; now people will go to whichever retailer will give them the best price for what their looking for whether it is online or in person. Neiman also faces problems abroad where their business is almost nonexistent, especially in China where a lot of counterfeit items are made to copy the items that Neiman’s

A year short of its 100th anniversary, Nordstrom Inc. was in trouble. An expensive marketing and merchandising campaign begun in early 2000, dubbed "Reinvent Yourself," was flopping in its attempt to reach out to younger customers.

Customer service can be taught anyone to a certain point. That being, interacting with the customer for their immediate benefit or encompassing positive language in their conversation with the customer. However, there are some who just don’t have the ability to interact with customers. Whether it be a personality trait, inability to interact with people, or they just don’t want too. The best way to start teaching good customer service skills is with management. Management must first develop a positive work environment in where they treat their employees. An environment where employees are treated badly fosters an avenue for them to treat customers the same way. As I stated, nearly everyone can learn basic skills along with exceptional customer service skills as well with extended training. But there is a certain percentage of people who have the knack for truly exceptional customer service skills, usually inherited with one’s personality. Things that can’t be taught commitment and enthusiasm, you have to like who you work for and what you do. This can be faked, how you find out? The employee finds a slightly better paying job usually with no relationship that the employee was previously doing.

Nordstrom’s is classified as one of the biggest U.S. department stores. Along with Sears, Macy’s, and JC Penny’s, Nordstrom manages each department in their stores as an individual buying center. Every group functions separately from one another, and is administered by a buyer who is in charge of all varieties and styles of merchandise sold. Promotions that can be used in the stores are included, as well. “The company has also benefited from a new computerized inventory system that gives buyers and salespeople the necessary data to make smarter decisions about what is needed in the stores—and what isn’t.” (Lamb, Hair, McDaniel 569). This new and improved system allows the department store to market a greater amount of full priced items, which ultimately increase sales. The buyer is also able to easily determine what items to obtain and exhibit in the store by using this system.

In Menswear of Nordstrom, they hold a very strong marketing mix. Within their marketing mix, they have product. Men’s wear in Nordstrom has a very large scale of items from mid-tier to high fashion. It consists of more than hundred brands. Some brands are offered exclusively at Nordstrom only for men’s wear, such as Paul Smith lines. The items for men’s wear is quality oriented and mostly British styled. The selection of items are also vary from suits to casual and even sportswear, too. In service side, Nordstrom provides unmatched customer service for men by customizing products and providing tailored services to their needs. They also have service called Trunk Club, which gives fashion direction to men who don’t have time and who don’t

Macy's is one of the premier retailer franchises within the United States. To begin, Macy's Inc. is one of the nation's largest and well known department store chains. Started over 150 years ago, Macy's has continually generated excellent returns for its shareholders and employees. Currently, in the midst of a global recession, Macy's has generated huge profits with same store sales increasing 5.3% year to date. In 2012 same store sales increased 4.6% in the month of February alone (Macy's Inc., 2012). In fact, throughout the duration of 2012, Macy's is projecting even larger profits for its underlying business operations. Even though Macy's has experienced success with both its assortments and brand, its competitors haven't faired so well. Sears, due in part to part to a lackluster holiday season, has been forced to close nearly 120 locations to generate excess liquidity in an effort to shore up its balance sheet (Isadora, 2011).Other competitors who cater specifically to the middle class consumer have also lost significant amounts of market share as consumers trade down due to the economy. Macy's, with its ride array of assortments and products continues to grow as it attempts to capture market share from failing competitors. Macy's is also unique as it operates in a unique market demographic. It is upscale, but not to the extent of Saks Fifth Avenue or a Nordstrom. It is also not as low scale as a JC Penny or Sears. As such, the company occupies a unique

In order to analyze Nordstrom’s financial performance we reviewed the most recent financial statements of the company for 2014 year including the balance sheet, the cash flow statement, and the income statement. Using the financial ratio analysis we are be able to assess how well the business is performing and detect the areas that need to be optimized. Also, financial ratios can help to see the difference between Nordstrom and their competitors (or the industry). This analysis gives a clear picture of the company’s position in the industry and its overall performance. Most importantly, ratio analysis allows us to identify strengths and weaknesses of the company.

Nordstrom’s liquidity ratios have dipped a little in 2014 as compared to previous years. Both quick and current ratios have decreased. Nordstrom’s inventory increased steadily each year, therefore decreasing its quick ratio. As presented in the balance sheet, Nordstrom’s current liabilities, particularly accounts payable, increased significantly in proportion to current assets which are moving steadily. Although this may seem alarming, Nordstrom does a fine job in balancing its investments. It is not necessarily a bad sign for the company to have a slight decrease in liquidity ratios, since Nordstrom is a large manufacturer and purchaser of products. This could mean Nordstrom is growing its investments and handling new businesses. Nordstrom could be spending investments in store expansion and electronic commerce. This is proven in their best possible service model, multiple omnichannel platforms, and its differentiated product selection. Both ratios are positive, meaning there is room for the company to grow. The company has enough assets to use for future economic benefits. In any case, Nordstrom has the ability to quickly liquidate their assets when an emergency may arise. Another advantage is Nordstrom has enough assets to please its short term

Nordstrom store is a major provider of fashionable wearable items you are willing to have bought and buying is an approach you must be interested in making utilization of as there is an online deal which is provided every other week having an online habit of getting a simple and advantageous one with coupon use incurring every now and then because coupon access is allowed for customers who have the inception and acquiring is what is usually given to customers buying from this store.

I have picked Nordstrom, Inc. the American chain of extravagance retail establishments headquartered in Seattle, Washington. The organization has 349 stores working in 40 states, Puerto Rico and Canada. Nordstrom additionally serves clients through nordstrom.com, nordstromrack.com, and its online private deal website, Haute Look. To develop the business there are new domains Nordstrom needs extend their business as a feature of their general money related methodology. On account of the general microeconomic condition for the nations to be considered for an extension, they need to give extraordinary chances to Nordstrom to enhance their universal nearness. China is the clearest open door. Growing in can be affected by the expense structure and

This industry is always under change. So, high-end department store like Nordstrom need to be highly responsive. It has to react under any challenging circumstances. Because Nordstrom has to offer new design, material, quality and style every time.

Nordstrom is a fashion retailer that offers apparel, cosmetics, footwear and accessories for men, women and children. Nordstrom is based out of Seattle, WA with most of its stores centralized in California. It is known to be one of the largest upscale retailers with over 118 Nordstrom department stores and 167 outlet stores. Nordstrom is all about increasing its market share and delivering a memorable customer experience. They have newly acquired Hautelook.com, an online retailer, to enhance their online presence. They opened their first full line store in Canada this past year and plan to open five more over the next three years. The company also plans to open their first Manhattan store in 2018 and reach a total of 230 Nordstrom Rack stores by 2016. Nordstrom ended the Fiscal Year 2013 +11% to last year. They had an increased operating profit of 7.7% over last year and a net profit increase of 7%.

Nordstrom is classified as an Upscale Independent Department Store Chain and is noted as one of the largest department stores of its type. Nordstrom is founded in 1901 by two partners, John W. Nordstrom and Carl F. Wallin. It’s headquarter is in Seattle, Washington area. Nordstrom carries a wide variety of merchandise and specialty goods, which includes apparel, shoes, jewelry, cosmetics, fragrances, handbags, accessories, and in some locations, home furnishings. Nordstrom is dealing with competition on many different levels. It is competing with higher end stores such as Neiman Marcus and Saks Fifth Avenue. In addition, it is also competing with second tier stores such as Macy’s, Dillard’s,

Nordstrom is a corporation that specializes in retail sales. As we break down the corporate and retail level of business operations we will reveal the total dynamics involved which helped establish this fortune five-hundred company. The information provided will display how the organizational structure of this company is separated into a centralized corporate base as well as a decentralized retail base platform. Additional information provided will cover the company’s organizational culture, functional structure, motivational strategies, human resources and employee hiring process. Lastly, the information provided will display why the group of individuals employed by Nordstrom, are categorized as a family oriented business that has established great

Weaknesses - Although Nordstrom has a substantial strengths, the organization is not without weaknesses. First, although Nordstrom’s has a superior selection in comparison to majority of other retail clothing companies, their quality also comes at a cost that many consumers are not willing to pay. In a period of economic instability and uncertainty, consumers are turning to online retailers such as Amazon in order to fulfill their clothing needs. Moreover, consumers are looking for more convenient ways of purchasing products and clothing is typically something where overnight shipping is acceptable versus an immediate need. Additionally, another weakness of Nordstrom is the geographic dispersion of their retail locations which are most commonly associated with shopping malls. Coincidentally, shopping malls are also struggling to compete with online retailers, thus Nordstrom experiences less opportunistic walk-in customers. On the same token, the opportunity costs for underserved rural customers