marketing paper

marketing paper - Jenna Hnath BMGT 350 Section 0102...

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Jenna Hnath BMGT 350 Section 0102 Nordstrom – Success throughout the Ages The first Wallin & Nordstrom shoe store was opened in downtown Seattle in 1901. Since then, Nordstrom, Inc. has grown into an enormously successful apparel retailer known for its excellent quality and superior customer service. Slowly but surely, it has spread from the northwest region of the United States to the east and south, and has diversified by adding men’s and children’s clothing lines, a line of accessories, and coffee bars and restaurants. Today, Nordstrom offers over 101 full-time stores, as well as 51 Nordstrom Rack stores, two Jeffrey Boutiques, one shoe store, and two final clearance stores in 28 different states. Throughout the one hundred plus years it has been in existence, Nordstrom has dealt successfully with the social, demographic, economic, and competitive forces of the external environment. Nordstrom has adapted particularly well to social changes, one of the external forces that is very difficult to predict, and which encompass what attitudes people have, what their values are, and how they live. For example, one major trend in recent decades has been an increase in the number of women in the workplace, and the notion of the “independent woman”. Nordstrom has responded to these changes by creating a new department named “Individualist,” which offers savvy career fashion for young and middle-aged women. However, although some social factors have changed, others, such as how consumers value the quality of retail items, have remained the same. Consumers continue to rate reliability, durability, ease of maintenance, and low price as the top characteristics they value in a product. Items sold at Nordstrom are consistent with those values. Although Nordstrom products are expensive, the value and benefits customers receive are also high. Customers receive excellent customer service, durable products 1
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and a wide selection of items to choose from. In addition, Nordstrom offers a return policy this is unequaled by any other major retail store. It allows customers to return any item they bought to any Nordstrom store, regardless of what condition it is in, when it was bought, or whether or not the customer has the receipt or product tag. Demographic factors encompass the population’s vital statistics, such as age, location, gender, and ethnicity. As a sophisticated high- end retail store, Nordstrom targets its products to middle and upper class men and women in suburban and urban areas. Nordstrom’s core target market is middle to upper class women from
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This note was uploaded on 04/18/2008 for the course BMGT 350 taught by Professor Boyd during the Spring '08 term at Maryland.

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marketing paper - Jenna Hnath BMGT 350 Section 0102...

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