Millennial Proposal Nordstrom
Nordstrom Park Meadows Store #34
Nordstrom
The 2013 Southwest Region Intern Project:
The Millennial Customer
Prepared for:
Store #34 and the Southwest Region
Prepared by:
Brian McIntyre, Intern of Men’s Sportswear
Devin Francil, Intern of Individualist and Via C
July 23rd, 2013
Table of Contents
Table of Contents
Executive Summary 3
Who is the Millennial Customer? 4
Situational Analysis of Nordstrom 4
Analyzing the Numbers and the Nordstrom Customer 4
SWOT Analysis 5
The Competition 6
Objectives and Strategy 7
Marketing Plan Objectives 7
Marketing Strategy 8
Market Segmentation and Targeting Strategy 8
Potential Strategies 10
Executive Summary
The purpose of this report is to identify whom the millennial customer is, why they are so important to the future of Nordstrom as a company, and how we can better capture this opportunity to have continued success in later years. The first sections of the report discuss who the millennial is and also covers the sector of this industry that caters to the market of the millennials. Both a SWOT and competitive analysis was used to assess the market place and where Nordstrom currently stands relative to the competition that is favored by the millennial customer. The report also mentions what strategies will be used to capture this segment of the market through remerchandising, updating visuals in current departments, revamping those departments that are not very successful company wide, and improving the current utilization of our social media efforts on an individual store level. Finally, each of our strategies will further explain what tactics we will use to accomplish our marketing objectives .
Who is the Millennial Customer?
The “Millennials,” otherwise known as “Generation Y,” is the consumer group that was born anywhere from 1982 – 2001.
Nordstrom
The 2013 Southwest Region Intern Project:
The Millennial Customer
Prepared for:
Store #34 and the Southwest Region
Prepared by:
Brian McIntyre, Intern of Men’s Sportswear
Devin Francil, Intern of Individualist and Via C
July 23rd, 2013
Table of Contents
Table of Contents
Executive Summary 3
Who is the Millennial Customer? 4
Situational Analysis of Nordstrom 4
Analyzing the Numbers and the Nordstrom Customer 4
SWOT Analysis 5
The Competition 6
Objectives and Strategy 7
Marketing Plan Objectives 7
Marketing Strategy 8
Market Segmentation and Targeting Strategy 8
Potential Strategies 10
Executive Summary
The purpose of this report is to identify whom the millennial customer is, why they are so important to the future of Nordstrom as a company, and how we can better capture this opportunity to have continued success in later years. The first sections of the report discuss who the millennial is and also covers the sector of this industry that caters to the market of the millennials. Both a SWOT and competitive analysis was used to assess the market place and where Nordstrom currently stands relative to the competition that is favored by the millennial customer. The report also mentions what strategies will be used to capture this segment of the market through remerchandising, updating visuals in current departments, revamping those departments that are not very successful company wide, and improving the current utilization of our social media efforts on an individual store level. Finally, each of our strategies will further explain what tactics we will use to accomplish our marketing objectives .
Who is the Millennial Customer?
The “Millennials,” otherwise known as “Generation Y,” is the consumer group that was born anywhere from 1982 – 2001.
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