Preview

Nordstrom Research Paper

Powerful Essays
Open Document
Open Document
1655 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Nordstrom Research Paper
Tynisha M. Miller
Professor Jamar Jeffers
Business 107
May 29, 2011

Nordstrom’s Success

Introduction Marketing is a crucial part of a company; it is defined as “the activity, set of institutions, and processes of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Lamb, 2010). In other words marketing can be seen as a planned concept used by most businesses to enhance their financial growth. Customers can be put at ease with knowing that the products they purchase are of excellent quality and the quantity they demand will be available. Before taking this marketing class; when I heard the word marketing my thought was that it only involved advertising
…show more content…

Founded by Carl F. Wallin a Seattle shoemaker and John W. Nordstrom opened a shoe store, Wallin and Nordstrom in Seattle in 1901. The two built their business on the philosophy of offering customers the best in service, selection, quality, and value. As of today Nordstrom continues to grow and thrive on that same philosophy through its family-controlled business. Nordstrom believes in service with a smile and want to project an image of small town modesty – that’s the corporate culture and it sells. Nordstrom’s course has been to modernize, adding brands such as Caslon, DKNY, and Emme for women and Facconable (which they later acquired), Kenneth Cole, and Tommy Bahama for men to its racks. Restructuring took place in 1999 and at that time Nordstrom’s decided to sharpen its image with consumers. In May 2000, Nordstrom’s declared, “Reinvent Yourself” as its advertising campaign, when customers entered the stores they no longer saw piano players wearing tuxedos (former trademark) instead there was a more modernized display of hip, brighter, flashier colors, and more casual apparel. As a frequent consumer to Nordstrom’s, whether or not it’s one of their 115 full-line stores or their 86 Nordstrom Rack stores; I always experience their continued personal touch. Today Nordstrom is still controlled and owned by the family, whose commitment and philosophy is still the foundation of …show more content…

Nordstrom’s not only please their consumers, but they stand by their products; they know their products are top quality and worth the price that the consumers chose to pay. In the case study it is stated that “the company refuses to hop on the price promoting band wagon”, which means they set their price and that’s the price it’s going to be. Their success is not obtained through friends and families discounts or coupons, because they feel their product is worth the price. When you look at companies like JCpenny’s, Macy’s, target, and Wal-Mart they would be on the opposite end because they do offer friends and family discounts, certain percentages off if you are willing to fill out a survey. With such incentives and promotions these retailers are definitely paying a price for this kind of advertising just to lure consumers into their

You May Also Find These Documents Helpful

  • Good Essays

    The company is constantly expanding with new full-line stores as well as Nordstrom Rack stores. With the increasing number of new stores, the visibility of the company has encouraged more customers to shop there. Over the years, Nordstrom has been growing their online ecommerce, which has increased sales. Assuring customers about secured credit card payment methods as well as providing timely delivery has helped with the popularity of online shopping through Nordstrom’s corporate website. Nordstrom’s user friendly website shows more product information as well as more availability for products which increases revenue. Increase in consumer spending in the US has been a large opportunity for Nordstrom. An increase in consumer spending has benefitted Nordstrom. “The National Retail Federation projected that retail industry sales may increase by 3.40% in 2012, compared to 2011…

    • 612 Words
    • 3 Pages
    Good Essays
  • Better Essays

    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 .…

    • 4174 Words
    • 17 Pages
    Better Essays
  • Powerful Essays

    Nordstrom vs. Macy's

    • 1282 Words
    • 6 Pages

    Nordstrom, along with the retail industry, sources products from around the world, and this means they encounter a wide…

    • 1282 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    In the Nordstrom way book that I have just concluded I have found a lot of clear new tips, alongside of understanding a business from the ground up. In 1901 the first Wallin & Nordstrom store opened, from 1901 to present in 2017 this company is still thriving. It may not be run by the same people but the fundamentals of the store are the same as the store in 1901. The Nordstrom family had gone through a lot of processes to get where the company is to this day. Through the entirety of this book all of the success can be based off of hard work and creating the gold standard of customer service. The Nordstrom Way focuses solely on doing whatever may be needed to satisfy the customer. Using your own initiative, provide your customers with the exceptional…

    • 677 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    All customers know Nordstrom’s good policy and we have a huge amount of loyal customer that just buying from our store. The store I am working at, is the largest store in Washington DC area with the highest volume.…

    • 257 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Mkt 421 Week 1 Dq 1

    • 394 Words
    • 2 Pages

    I will admit that when I hear the term Marketing the first thing that comes to mind is advertising. I know there is more to marketing but this is the first thought, and I think this is common. However, while marketing is advertising it is much more than just that. Our course materials states that marketing is the performance of activities that seek to accomplish and organization's objectives by anticipating customer needs and directing a flow of need-satisfying goods and services from producer to the customer. I am quickly learning that marketing has two parts; the one part is where a company that produces a certain good or service that is more of a want than a need meets customers expectations and wants. Then there is marketing for the needs in life, the goods and services that keep our lives going on a daily basis.…

    • 394 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Over the years Nordstrom has created individual departments that focus on the individual lifestyles of the customers. The company nor only provides its customers with a wardrobe, but also a countless line of accessories, cosmetics, and fragrance. Over the past few years, the company has added new brands to its product line to satisfy its customer needs. In order to give the best possible service to the customer, the company plans on continuing to update the product line as new customer desires evolve.…

    • 10090 Words
    • 41 Pages
    Powerful Essays
  • Satisfactory Essays

    Nordstrom Research Paper

    • 548 Words
    • 3 Pages

    The way which is acceptable within limits where you buy through an online store has essentials on web trades that you can get note of and avail necessities when store acquirements are required to reduce overall costs impended with buying to get your choice of clothing and shoe items to make essential buying practices always in usage and an implementation to buy with lessened online costs spent when you are attaining from Nordstrom.…

    • 548 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Nordstrom Vs. Technology

    • 329 Words
    • 2 Pages

    The retail industry is rapidly changing due to technology advancements and consumer demand. Consumers have shifted to ecommerce spending rather than with brick and mortar stores. Nordstrom, a leader in the retail industry, is facing growth issues in retaining consumers under this transition. Despite this major shift in ecommerce spending, Nordstrom has been able to tap into the market by offering a seamless online shopping experience, similar to the experience customers receive in store. Bloomingdales and Macy’s, Nordstrom competitors, are also facing these issues but are less successful in adaptation. The overall trend will force expansion in their online presence, to mitigate the risk of market share loss. Amazon,…

    • 329 Words
    • 2 Pages
    Good Essays
  • Better Essays

    P1 Intro to Marketing

    • 1121 Words
    • 5 Pages

    Marketing is the act of publicising products and offers to customers to get them to want to buy it; this could be via the television, a poster or radio. Marketing always has the customer at the centre of its activities and wants to build customer relationships in order to keep them coming back. Another definition of marketing is the actual action of selling an item or service to customers, like in a retail shop for example.…

    • 1121 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Nordstrom, Inc. is an American upscale fashion retailer, which was created John W. Nordstrom and Carl F. Wallin and it’s headquarter is located in Seattle. The company started as a shoe retailer and has ever since extended its inventory including clothing, handbags, accessories, jewelry, cosmetics, and fragrances. Select Nordstrom stores also got wedding and home furnishing departments. There are 323 stores in 38 states and Canada, which is including 119 full-line stores and 183 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also helps customers via Nordstrom.com, the newly created e-commerce site nordstromrack.com, and its online private sale site. Its teams are made up of aggravated individuals who…

    • 520 Words
    • 3 Pages
    Good Essays
  • Best Essays

    Nordstrom Executive Memo

    • 1474 Words
    • 6 Pages

    Wallin & Nordstrom was founded in 1901 by John W. Nordstrom and Carl Wallin as a shoe store in downtown Seattle. John retired in 1928 and Carl a year later, both sold their shares to John’s sons. In 1963 Nordstrom expanded to include fine apparel, in 1966 they expanded further to include clothing for men and children and changed the name of the store to Nordstrom Best. Bruce Nordstrom, known as Mister Bruce by Nordstrom employees, took over in 1968 and can still be found in his office above the downtown flagship store even though Blake, Peter, and Eric Nordstrom currently run the company. In 1971 Nordstrom went public; in 1973 the name changed to Nordstrom, Inc. (Nordstrom, 2010).…

    • 1474 Words
    • 6 Pages
    Best Essays
  • Good Essays

    Nordstrom's Creativity

    • 1221 Words
    • 5 Pages

    Like many large retailers, Nordstrom has to keep relevant and continue to reinvent itself to keep the company relevant in these ever changing times. Nordstrom uses creativity and marketing as a strategy to combat the evolving marketplace and to encourage customer loyalty. With the overnight emergence of online shopping, retailers took a huge hit in profits. With facing such adversity, a company’s creativity must be sparked in order to ensure the survival of the company. Nordstrom’s reinvented themselves after the corporation purchased Hautelook in 2011. This was the perfect move from a creative marketing standpoint because a majority of companies are being forced to make themselves known in the digital world…

    • 1221 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to sell goods or…

    • 10224 Words
    • 41 Pages
    Powerful Essays
  • Powerful Essays

    Imr Assignment F

    • 1467 Words
    • 6 Pages

    Marketing can be described in many different ways depending on which resource you are using. It is a process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services, to create exchanges that satisfy individual and organizational objectives. The process of developing a market for goods or services is based on market research. From the above definitions we would have to say that marketing is fulfilling the needs of the company while providing for the stockholders and fulfilling the consumer’s needs and demands and at the same time providing a means of profit for the company.…

    • 1467 Words
    • 6 Pages
    Powerful Essays