Swot and Macro Environmental Analysis of Nordstrom
Nordstrom was co founded 1901 by a 30 year old man named John W Nordstrom and his partner Carl Wallin. At age 16, John W of Sweden left his home and moved to Alaska where he struck gold. While in Alaska, he met a man named Carl Wallin, “who owned a shoe repair shop in downtown Seattle” (Nordstrom Employee, 2006). The two decided form a partnership and open a shoe store entitled Wallin & Nordstrom.
Right form the start, the business philosophy was “based on exceptional customer service, selection, quality and value” (Nordstrom Employee, 2006). Focusing on this philosophy helped Nordstrom develop a competitive advantage in the shoe market. Due to their success, the company opened a new store in 1923.
Nordstrom a promising and upcoming departmental store in U.S has shown phenomenal growth in the business of retail chain business. The credit for this would go to the founder and promoter’s philosophy of inverting the pyramid and putting the customer on the top, followed by employees and it was the share holders who were accorded the last place in the priority list of company. Nordstrom working as departmental store in the retail industry would be effected by all the forces in the marketing environment. Nordstrom’s competitors are Wal-Mart, & K-Mart, and Carrefour.
SWOT Analysis for Nordstrom:
Strength: It was rationalized by the promoter that if customers are satisfied by the services and the best service could only be offered by highly motivated employee (sales force), the share holders, promoters are bound to get their share in terms of high profit and revenue. For women’s clothing alone, there are 14 clothing options ranging from teenage apparel, to elegant ballroom attire. The multiple departments within the Nordstrom store cause the target market for a single Nordstrom store to range across a broad spectrum of potential buyers. While each of the target markets differs substantially depending on the
Right form the start, the business philosophy was “based on exceptional customer service, selection, quality and value” (Nordstrom Employee, 2006). Focusing on this philosophy helped Nordstrom develop a competitive advantage in the shoe market. Due to their success, the company opened a new store in 1923.
Nordstrom a promising and upcoming departmental store in U.S has shown phenomenal growth in the business of retail chain business. The credit for this would go to the founder and promoter’s philosophy of inverting the pyramid and putting the customer on the top, followed by employees and it was the share holders who were accorded the last place in the priority list of company. Nordstrom working as departmental store in the retail industry would be effected by all the forces in the marketing environment. Nordstrom’s competitors are Wal-Mart, & K-Mart, and Carrefour.
SWOT Analysis for Nordstrom:
Strength: It was rationalized by the promoter that if customers are satisfied by the services and the best service could only be offered by highly motivated employee (sales force), the share holders, promoters are bound to get their share in terms of high profit and revenue. For women’s clothing alone, there are 14 clothing options ranging from teenage apparel, to elegant ballroom attire. The multiple departments within the Nordstrom store cause the target market for a single Nordstrom store to range across a broad spectrum of potential buyers. While each of the target markets differs substantially depending on the