Nordstorm

Nordstorm - Since Nordstorms (p. 402) competes in the US,...

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Since Nordstorm’s (p. 402) competes in the US, give an example of each of the marketing environment forces (Political, Legal & Regulatory, Technological, Social and Nordstorm working as departmental store in the retail industry would be effected by all the forces in the marketing environment. Political environment in U.S is very conducive for the growth of any industry because U.S provides a very stable government, which has a consistent track record of providing one of the most industry- friendly atmospheres in the entire world. Political factors that may affect the store may include government laws and regulations. Restrictions on repatriation of capital, profit, and management fees can affect the operations of the retail store. In addition, implementation of high corporation tax on products can affect Nordstorm. Legal environment provided by the U.S government through several enactments is to provide free and level playing field for all the firms in any industry and the fastest justice delivery for the aggrieved parties. U.S law requires that disclosures be made to consumers on the effective interest rates they pay on products bought on installments. Regulatory environment in the U.S is that it provides minimum regulation of any industry and firms. Anti-trust law of U.S can only be considered to be the major regulatory force for big players like Wal-Mart, Carrefour, and Tesco etc. Competitive forces shaping the Nordstorm strategy is that it is operating in highly competitive environment, where apparel sold by it are not only competing with large organized departmental chains but, also from small independent boutiques in the U.S. Example, competition has become very stiff in retail discount stores and growth has declined which has compounded the problem. Social environment of the U.S is such that people are going more towards style and value added products and culture is to go for large retail outlets, where all the needs of a family is
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served under one roof. The example could be that there are innumerable large departmental as well as discount stores coming up ready to serve readymade foods, apparels, entertainment etc. The society today is more demanding for quality products and services and the value to their money. Technological environment has facilitated by getting all the data online and all the customer related information can be made available at each of the retail outlets. The technology has enabled the customer to be served in a better manner. The good example is that of customer relationship management where the entire details from the list of goods, brand, quantity and customer profile of each customer is possible. Economic environment is not conducive for the growth of all industries. As GDP growth
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This note was uploaded on 02/06/2011 for the course BUS 508 taught by Professor Akpan during the Summer '10 term at Strayer.

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Nordstorm - Since Nordstorms (p. 402) competes in the US,...

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