Nordstrom Business Success

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Answer Question 1: How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty? Brands is the relationship between products and customers. It contains a collection of quality and service that customers expect. The loyalty of the customer service for brands is due to meet the expectations of customers, or even better, exceed their expectations, giving customers prefer interesting . Nordstrom , a department store in the synthesis of America ‘s most successful , with the index ranking for customer loyalty high , there are many stories about companies that are spread among customers and others .

We have heard the story about the man walked into Nordstrom stores carry tires for automobiles , and demanded a refund . Nordstrom has returned the money to him . Nordstrom It is not attractive selling automobile tires . Now that is customer care . If you buy shoes at Nordstrom , and your feet are not the same number , the sellers will take a number just one side with your legs and a foot to the other to the other side of you , but only charge a shoes .

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If you have to buy a cashmere sweater blue but according to the ad has been sold , the sellers will certainly make suggestions to find a shirt like this or a similar store competitors competition and will send it to you . Nordstrom has been particularly successful in completing strategic customer service , customer is a centric approach and attentive customer care . The consistent , customer is a centric with innovative thinking has helped to speed up development Nordstrom and stayed for more than a century, after many turbulent economy .

Beside, to build brand value, Nordstrom to ensure customer loyalty through brand awareness and ensure it meets the needs , wants of customers . Enhance product awareness , increasing the perceived quality . Enhance perceived value and enhance consumer experience of our customers. Considerate service, return policy surrender unconditionally, email regimes that include photos of new products for our valued clients and thank you card after purchase are factors to help retailers are not too worry about the price and competition.

Nordstrom never focused on the company or its employees, All energy of Nordstrom is put on both the customer, and that is the secret to success of them. References Levankhai1989. 18 june 2012. Kotler ban v? ti? p th?. retrieved from http://chienluocmarketingvn. wordpress. com/tag/kotler-ban-v%E1%BB%81-ti%E1%BA%BFp-th%E1%BB%8B/. V. Hoang (sep 06,2011). Nordstrom va bi quy? t danh b? i d? i th?. Retrieved from http://business. vnmic. com/news/Bai-hoc/Nordstrom-va-bi-quyet-danh-bai-doi-thu-2145/#. UtESTtJdU4M. Retrieved from http://vndocs. docdat. com/docs/index-10917.

html? page=3. Phuc Phan Thi Diem ( 17 May 2012). Bi quy? t xay d? ng thuong hi? u c? a 10 doanh nghi? p uy tin nh? t. 2. Answer Question 2: What are Nordstrom’s greatest risks, and who are its biggest competitors? Nordstrom faces intense competition from other well-established players in the specialty retail sector such as The Gap Inc. ( GPS ), Limited Brands Inc. ( LTD ), Abercrombie & Fitch Co. ( ANF ) and Saks Inc. ( SKS ). Competitive conditions within the retail space may force the company to reduce its sales price, bringing down the company’s margins.

Nordstrom’s business is seasonal in nature and generates a high proportion of sales during the second and fourth quarters, which are characterized by the company’s anniversary sale and holiday seasons. As a result, Nordstrom is exposed to significant risks, provided the seasons fail to deliver expected operating performance. Another major element that may hurt the company’s growth and profitability is the diminished consumer confidence and spending behavior as macroeconomic factors like higher fuel and energy costs, credit availability, high unemployment levels and high household debt levels continue to affect their disposable income.

Nordstrom is an upscale fashion retailer that sells shoes, clothing, handbags, accessories, jewelry, cosmetics, fragrances and home furnishings. It’s a department store sectioned off into these categories, and a specialy store speci? cally selling fashion products. Nordstrom’s main competitors include Saks Fifth Avenue, Neiman Marcus and Dillards, along with lower scaled department stores like Sears, Macy’s and JC Penney. Nordstrom and it’s competitors share the same ‘department store’ layout.

They’re all divided into departments, with purchases generally made within each department rather than at one central checkout area (like Target, Walmart or Home Depot). What are the primary challenges Nordstrom faces in the current retail climate? Current economic woes have decreased sales at most major high retail stores. How was the competition changed in recent years, along with consumer expectations? Online sales are their biggest “seemless shopping experience” across all the shopping channels – online, in person and through catalogs. References

Zacks. com, August 27, 2012. Nordstrom’s Risk-Reward Balanced – Analyst Blog. http://www. nasdaq. com/article/nordstroms-riskreward-balanced-analyst-blog-cm167541 Philip Kotler and Kevin Lane Keller. (14th Edition). Marketing Management. http://toolbar. conduit. com/increase-brand-loyalty/customer-service-tips. aspx http://www. vyadvertising. com/Tintuc/? NewsID=894 http://marketing. yp. vn/Ki%E1%BA%BFnth%E1%BB%A9cth%C6%B0%C6%A1nghi%E1%BB%87u/X%C3%A2yd%E1%BB%B1ngl%C3%B2ngtrungth%C3%A0nhc%E1%BB%A7akh%C3%A1chh%C3%A0ng/tabid/11769/language/en-US/Default.

aspx http://www. vnulib. edu. vn:8000/dspace/bitstream/123456789/1894/1/sedev1006-05. pdf http://www. cardinalconsulting. net/IncreaseBrandLoyaltyandSales. php http://www. marketingchienluoc. com/th%C6%B0%C6%A1ng-hi%E1%BB%87u/ki%E1%BA%BFn-th%E1%BB%A9c-th%C6%B0%C6%A1ng-hi%E1%BB%87u/10465-mua-l%C3%B2ng-trung-th%C3%A0nh-v%E1%BB%9Bi-th%C6%B0%C6%A1ng-hi%E1%BB%87u 1. http://econsultancy. com/blog/62943-how-nordstrom-sees-customers-changing-expectations 2. http://business. vnmic. com/news/Bai-hoc/Nordstrom-va-bi-quyet-danh-bai-doi-thu-2145/#. UtAZx9JdU4M

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