Kotler Marketing Management Solutions to Chapter 5 and 6
Chapter 5
Nordstrom
Q1: How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty?
It could expand its CRM to reach more customers with their services. Compared to its competitors Nordstrom should improve on their online advertisements and presence. A more advanced feedback system will create more loyalty as customers realize that Nordstrom cares about their complaints. It also allows to improve on the service quality. Blogs that announce and review new products and support links to other company or fan pages would spread the brand. Trier and recent users should receive regular e-mails to increase brand awareness. Another way to get the word out and extend the reach of a brand is to reward customers who bring their friends to Nordstrom. It makes people talk about the brand and creates loyal groups. These should get the opportunity to hand in any ideas and complaints as a group. They have the chance to talk about it at home and feel as a part of the company.
Q2: What are Nordstrom’s greatest risks, and who are its biggest competitors?
Because Nordstrom is selling brands designed and produced by other companies, it has developed a high dependence on these suppliers. Therefore it also shares some risks of the suppliers’ brands such as changing trends and lifestyles. It’s hard to forecast fashion trends in so many different segments. It is also necessary that Nordstrom retains a diversified supply network and keeps an eye on world organizations like NAFTA, WTO, etc. to forecast supply problems caused by embargos or other trade barriers.
Furthermore, the wide range of Nordstroms product line and it’s market segment usually become hard to maintain. New competitors and market entrants might get some of Nordstroms segments by using tighter specialization and smaller segments. Although their concept of high social contributions and extraordinary customer service seemed to work out during the recession and increased their
Nordstrom
Q1: How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty?
It could expand its CRM to reach more customers with their services. Compared to its competitors Nordstrom should improve on their online advertisements and presence. A more advanced feedback system will create more loyalty as customers realize that Nordstrom cares about their complaints. It also allows to improve on the service quality. Blogs that announce and review new products and support links to other company or fan pages would spread the brand. Trier and recent users should receive regular e-mails to increase brand awareness. Another way to get the word out and extend the reach of a brand is to reward customers who bring their friends to Nordstrom. It makes people talk about the brand and creates loyal groups. These should get the opportunity to hand in any ideas and complaints as a group. They have the chance to talk about it at home and feel as a part of the company.
Q2: What are Nordstrom’s greatest risks, and who are its biggest competitors?
Because Nordstrom is selling brands designed and produced by other companies, it has developed a high dependence on these suppliers. Therefore it also shares some risks of the suppliers’ brands such as changing trends and lifestyles. It’s hard to forecast fashion trends in so many different segments. It is also necessary that Nordstrom retains a diversified supply network and keeps an eye on world organizations like NAFTA, WTO, etc. to forecast supply problems caused by embargos or other trade barriers.
Furthermore, the wide range of Nordstroms product line and it’s market segment usually become hard to maintain. New competitors and market entrants might get some of Nordstroms segments by using tighter specialization and smaller segments. Although their concept of high social contributions and extraordinary customer service seemed to work out during the recession and increased their