The Value Chain Of Nordstrom 's Inc

888 WordsAug 16, 20154 Pages
Introduction Value chain is the ability to take a product and add some value along the way to make it to appeal to the customers in such a way that they be willing to buy the product and pay the asking price. Many companies in today’s business world analyze their value chains to identify the ways which continue to attract their customers. The value chain analysis consist of two parts, primary activities and secondary activities. The first ones support the actual physical process of buying, manufacturing, shipping and selling the product and the secondary activities are is actions that support the process, such as procurement, technical support and human resource management. The value chain is one of the critical elements of a company’s strategy in today’s competitive world, because company’s profit depends on how the successful and efficient it runs its operations and how the end product appeals to the customers at a price that covers all the expenses of the company. Nordstrom’s Value Chain Nordstrom’s Inc. is one of the upscale fashion retailers in the United States that competes with other high end stores, such as Saks, Neiman Marcus, Bloomingdale and Macy’s. In order to differentiate itself from its competitors, the company must carefully follow its value chain design, because it is the only concept that allows Nordstrom to stay unique among the other retailers. Most of the company’s competitors buy products from the same or similar vendors and have creatively

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