Retailers
Nordstrom has done a number of things to help differentiate itself from other retailers. The first is with respect to the product mix. The company has made a point to put higher value brands in the Nordstrom store as part of its differentiation strategy. Nordstrom's approach has therefore been essential in building brand loyalty, by cultivating the middle class and upper middle class. It is worth noting that a brand extension, Nordstrom Rack, is catering more squarely to the middle class, and this differentiation not only enforces the difference of the Nordstrom brand but also highlights that the regular Nordstrom brand is positioned well away from the mainstream retailers like Target (Berman, 2010)..
Further, Nordstrom uses pricing and service as points of differentiation. It uses lower pricing in Rack, and higher pricing in the regular store, in order to attract different audiences to the two brands. There is little crossover between Nordstrom and Target, especially with respect to fashion, because of the differences in merchandise and pricing. A Nordstrom shopper might go to Target for some other product category -- toiletries or food or something -- but is unlikely to go to Target as a substitute for something they would buy at Nordstrom because there are significant...
Part of the reason for this, is because these dresses have a number of advantages over formal gowns to include: they are affordable, can be utilized for a variety of events, they are comfortable and they look amazing. This is important, because it shows how a shift has occurred in consumers demand. (Xu, 2010) The Product Line To be successful in this new market requires that Nordstrom's engages in a strategy
Department stores such as Macy's, Nordstrom and Saks are showing signs of recovery after the economic slump. 'Nordstrom is expected to post earnings of 79 cents per share for the quarter, more than doubling the 31 cents it posted in the year-ago period' (Cardona 2010). Nordstrom, Saks and Barneys are direct competitors as they cater to high-end clients whereas macy's is more in the middle-priced-ranged market like JC Penny. Nordstrom
Customer Service Triage at Home Depot Despite the self-service checkout lanes being staffed by an associate to manage all four of the self-service locations, with custom orders and big-ticket items they had to inevitably get the store manager involved to alleviate the conflicts with customers. The time required to resolve both the custom orders and big-ticket purchases actually took more time for customers than it would have taken to just go
Harrison Company Executive Summary/Background- The Harrison Company, a mid-sized regional retailer with 80 stores in 7 states, is headquartered in State College, PA. At present, despite each store generating approximately $600,000 in revenue per annum, the company faces a time of crisis. Sales and profits have been declining over the past few years, the company's president has retired and broken all contacts with the company, and there is no real strategic
Fashion MBA Application Why is an MBA a critical next step toward your short- and long-term career goals? Why is LIM College the best MBA program for you? LIM College seeks candidates of various backgrounds who can bring new perspectives to our community. How will your unique personal history, values, and/or life experience contribute to the culture at LIM College? For the past two years, I have worked in retail -- at
Maxx Company -- Strategic Marketing Plan TK Maxx Strategic Marketing Plan TK Maxx is expanding beyond the brick and mortar footprint that helped it rise to the top of retail operations in the United Kingdom. As with its competitors, TK Maxx has entered the mobile digital market and is implementing multiple distribution channels (McVey, 1960). The company has a clear target market that transcends the various channels over which its goods are
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