...Nordstrom Case Study Shameka Fahie Columbia Southern University A corporation should strive to build a strong, reputable and recognizable brand image. According to Kotler (2012), a brand name such as McDonald’s carries many associations in people’s minds that make up its image: hamburgers, cleanliness, convenience, courteous, service, and golden arches. Consumers associate upscale, top-quality, high fashion, brand-name and high-quality customer service when they hear or speak of Nordstrom. Nordstrom number one goal is providing the highest level of customer service as well as continuing to improve their customer service. An example of providing great customer service is when a consumer purchased tired from Northern Commercial, a company that Nordstrom purchased, and needed to return the tires originally purchased from Northern Commercial. Nordstrom does not sell tires but they accepted the return and provided a full refund with no questions asked. Sales associates sending thank you card to customer who have made purchases and customer’s special order items being hand delivered to their homes are another way Nordstrom provides high quality service. Nordstrom creating a loyalty program for its customer based on their spending is a way of improving customer service. Customer who spends a certain amount of money annual can enjoy benefits such as free alterations, free shipping champagne, live music, access to fashion shows and much more. This makes the customer feel valued...
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...Unit 2 Case study – Question 1 pg 148 The first question in the book is very interesting. The question is how else can Nordstrom continue to provide exceptional customer service and increase brand loyalty? Well to begin with we have to start accepted wisdom of how to put forward extraordinary patron services it is imperative to become conscious that purchaser services is not just a line of attack of responsibility of doing effects but an positive mind-set. Accomplishing this no more than have need of changing the mind-sets of corporation human resources towards the businesses clientele. Nordstrom goes out of their way to take care of its most loyal customers. Nordstrom does this by using the “Fashion Rewards Program, rewards customers on four different levels based on their annual spending” (Kotler & Keller, 2012, p. 148). An example of this can be found in the text book on page one hundred forty eight. Nordstrom goes above and beyond to take care of their customers. They could have easily have just done easy acts of kindness such as being in good spirits while conducting an conversation with an client over telephone, being in good spirits can resonate over the phone and become infectious to the customer in the other end of the telephone. This has been somewhat that has been linked with Nordstrom but that have to be enhanced with each day. Its capacity also might be as simple as by means of an proper acknowledgment every moment in time you are talking to the patrons...
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...Nordstrom is an example of business success, work force efficiency and is still a family owned company with a highly present founder vision: providing the best possible service to costumers. This case focuses on the relation with its salespeople (“Nordies”), which are one of the company’s greatest assets. The rivalry and competition within the industry is heavy and there are many retailers struggling for the same goal – increase the volume of sales, but on the other hand it is easy to differentiate from competitors by the costumer’s service for example. The bargaining power of suppliers is not very high as these big chains usually buy in large quantities and benefit from quantity discounts between others. The buyer’s power is low as these retailers have a strong brand recognition, product differentiation and above all costumer service differentiation. The threat of new entrants is high as no costumer will stick to the same brand or chain if there is another one that provides a much better service, despite the existence of economies of scale and cost advantages for the existing players. The threat of substitutes is high as other products can outperform Nordstrom products (e.g. a tennis shoe from Nike can substitute a shoe from Nordstrom). The key success factors of this department store retail industry are: the costumer’s service, variety of products, price and constant innovation, and being always flexible and willing to change. Nordstrom strengths are their strong brand...
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...ability to satisfy stated or implied needs. Marketers play a key role in achieving high levels of total quality so that firms remain solvent and profitable. 5. Marketing managers must calculate customer lifetime values of their customer base to understand their profit implications. They must also determine ways to increase the value of the customer base. 6. Companies are also becoming skilled in customer relationship management (CRM), which focuses on developing programs to attract and retain the right customers and meeting the individual needs of those valued customers. 7. Customer relationship management often requires building a customer database and data mining to detect trends, segments, and individual needs. A number of significant risks also exist, so marketers must proceed thoughtfully. Applications Marketing Debate Online versus Offline Privacy As more firms practice relationship marketing and develop customer databases, privacy issues are emerging as...
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...MORALES, Marc Russel M. BSBA-MM II-C MM100 – Fundamentals of Marketing Management MABEZA, RYAN MARVIN Nordstrom’s Case Analysis Companies are everywhere. Competition in a global business world are in left and right scenarios. So companies must find the right ingredient for them to be successful. Creating loyal customers is at the heart of every business. Improving efficiency in connecting to customers, building customer satisfaction, customer value and loyalty leads to improved and better business results. Marketing experts Don Peppers and Martha Rogers say, “The only value your company will ever create is the value that comes from customers—the ones you have now and the ones you will have in the future. Businesses succeed by getting, keeping, and growing customers. Customers are the only reason you build factories, hire employees, schedule meetings, lay fiber-optic lines, or engage in any business activity. Without customers, you don’t have a business.” Companies must establish and maintain a high customer value for their products and services because consumers use customer value to make buying decisions. You make buying decisions in day-to-day life experiences. For example in buying for a bottled water drink. Should you buy the wilkins worth P15 or the evian water worth P65? In every buying decision, a consumer asks the same question: 'is what I am going to receive worth what I have to give up in order to get it?' The gain the consumer receives for the benefit is...
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...Chaptur 1 Nike What are the pros, cons, and risks associated with Nike’s core marketing strategy? 2. If you were Adidas, how would you compete with Nike? Google 1. With a portfolio as diverse as Google’s, what are the company’s core brand values? 2. What’s next for Google? Is it doing the right thing taking on Microsoft with the concept of cloud computing, and Apple in the fight for smart phones? Chapter 5 Nordstrom 1. How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty? 2. What are Nordstrom’s greatest risks, and who are its biggest competitors? TESCO What’s next for Tesco? Where and how can it grow? Who will it target? 2. How can Tesco take its customer loyalty programs to the next level? Chapture 8 HSBC . What are the risks and benefits of HSBC’s positioning itself as the “World’s Local Bank”? 2. Does HSBC’s most recent campaign resonate with its target audience? Why or why not? BMW Questions 1. What are the pros and cons to BMW’s selective target marketing? What has the firm done well over the years and where could it improve? 2. BMW’s sales slipped during the worldwide recession in 2008 and 2009. Is its segmentation strategy too selective? Why or why not? Chapture 12 Caterpillar Questions 1. What were some of the key steps that led to Caterpillar’s becoming the industry leader in earthmoving machinery? 2. Discuss Caterpillar’s future. What should it do next with its product line...
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...APPLICATIONS – NORDSTROM Diagnosis Company Background Industry: Retailer (Upscale US department store chain). Founder: John W. Nordstrom and Carl F. Wallin. Headquarters: Seattle, Washington, US. Product: Footwear, clothing, accessories, handbags, jewelry, cosmetics, and fragrances. Number of location: 112 full-time stores, 69 Nordstrom Rack clearance stores, 2 Jeffrey Boutiques and 1 clearance stores Connecting with customer 1) Maintain "no question asked" return policy. 2) Sales representatives send thank-you cards to customers who shop there and have hand-delivered special orders to customer's homes. 3) Installed a tool called Personal Book at its registers that allow salespeople to enter and recall customer's specific purchases in order to better personalize their shopping experiences 4) Provides customers with multichannel for shopping, allowing them to buy something online and pick it up at a store within an hour. 5) Fashion Rewards Program, rewards customers on four different levels based on their annual spending. a. Customers who spend $10,000 annually receive complementary alterations, free shipping, a 24-hour fashion emergency hotline, and access to a personal concierge service b. Customers at the highest rewards level ($20,000 spent annually) also receive private shopping trips complete with restocked dressing rooms in the customer's specific size, champagne, and live piano music; tickets to Nordstrom's runway fashion shows; and access to exclusive travel and fashion...
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...Comparative Evaluation of Retail Service Operations Chris O’Dowd Carlos Rodriguez Doug Sefcik Thao Nguyen Joshua Shibler Sam Lalgee The University of Texas at San Antonio Feasibility Report September 24, 2015 Included below is a feasibility report for the retail operations of five different retail companies. The purpose of this report is to compare these service operations across six major categories: I. II. III. IV. V. VI. Nature of Services and Classification Competitive Factors Tools and Service Strategies Service Operating Systems Service Quality and Benchmarking Facility Location and Site Selection Each section will be followed by a comparison and evaluation of the service operation systems within that section. The five service organizations that we will be examining in this report are: Best Buy, Wal-Mart, Sak’s Fifth Avenue, Amazon and the specialty kiosk I Play N Talk. Service Organizations Best-Buy Best Buy was founded by Richard M. Schulze in 1966 and has become a powerhouse in the consumer electronics industry. Their headquarters are in Richfield, Minnesota and they operate in the US, Mexico, and Canada. BestBuy has grown into a huge retail chain spanning over 1,400 stores. They started by the name “Sound of Music” in 1966 until 1983 where it was renamed to what we know it now as Best-Buy. Best-Buy employs around 125,000 people and they generate $40 billion annually. Amazon Amazon is not like most businesses. Although its headquarters...
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...Chapter 1 Case Study: Harmonix Embrace Your Inner Rock Star Little more than three years ago, you had probably never heard of Harmonix. In 2005, the video game design studio released Guitar Hero, which subsequently became the fastest video game in history to top $1 billion in North American sales. The game concept focuses around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump...
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...Industry Surveys Retailing: General Jason Asaeda, Department & General Merchandise Stores Equity Analyst JUNE 2013 Current Environment ............................................................................................ 1 Industry Profile .................................................................................................... 12 Industry Trends ................................................................................................... 13 How the Industry Operates ............................................................................... 23 Key Industry Ratios and Statistics ................................................................... 29 How to Analyze a Retail Company ................................................................... 31 Glossary ................................................................................................................ 36 Industry References ........................................................................................... 37 Comparative Company Analysis ...................................................................... 38 This issue updates the one dated November 2012. The next update of this Survey is scheduled for December 2013. CONTACTS: INQUIRIES & CLIENT RELATIONS 800.852.1641 clientrelations@ standardandpoors.com SALES 877.219.1247 wealth@spcapitaliq.com MEDIA Marc Eiger 212.438.1280 marc.eiger@spcapitaliq.com S&P CAPITAL IQ 55 Water Street New York, NY 10041 ...
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...The purpose of this thesis is to study to what extent the Uppsala model is applicable to a small manufacturing firm, and to see if the theory, combined with the Porterian framework, can provide a more solid framework for the description of the internationalisation process of the firm. Method: The master thesis is based on one personal interview with the CEO of the study object, Bukowski design. Results: The internationalisation process of the firm can to some extent be explained using the Uppsala model. It is, however, valuable to complete the picture with, for example, Porter’s theories, that permit a deeper understanding. - Nyckelord Keyword Internationalisation, competitive advantage, international strategy, establishment chain, risk, Bukowski design, Peter Gustavsson - Avdelning, Institution Division, Department Ekonomiska institutionen 581 83 LINKÖPING Datum...
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...Chapter 1 Case Study: Harmonix Embrace Your Inner Rock Star Little more than three years ago, you had probably never heard of Harmonix. In 2005, the video game design studio released Guitar Hero, which subsequently became the fastest video game in history to top $1 billion in North American sales. The game concept focuses around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump...
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...Strategic Quality Management and Customer Satisfaction Paper Team Members University of Phoenix Quality Management and Productivity MGT/449 Instructor Date Strategic Quality Management and Customer Satisfaction Paper Introduction In today’s world the companies have to strive real hard in order to compete the harsh competition prevailing around. The most important thing that the companies need to work towards is the customer satisfaction. Only those businesses succeed who ensure quality and customer satisfaction, in fact the truth is that both the quality and customer satisfaction are strongly related and linked to each other. Unless and until the companies do not offer the exquisite and top class quality, they’ll not be able to attract and satisfy the customers. The companies and organizations need to emphasize on strategic plans, strategic objectives, and process improvement plans along with sufficient tools and techniques required for all this. For this purpose management must come up with various strategies to improve their quality and enhance their customer satisfaction. A lot of strategic management in regard to quality control and customer satisfaction is required if a company wants to gain and retain the customers. Target Corporation Target is a well known store in United States and is popular in regard to the outstanding and exclusive products it offers. The mission statement of the company highlights customer satisfaction and...
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...Internationalization of IKEA in the Japanese market and Chinese markets Abstract Date Level Authors June 4, 2008 Master Thesis EFO705, 10 points (15 credits) Wannapa Chaletanone (05-11-1982, Thailand) Wanee Cheancharadpong (03-09-1983, Thailand) Internationalization of IKEA in the Japanese and Chinese markets Leif Linnskog Why did IKEA internationalize into Japanese and Chinese markets? And what factors did influence IKEA’s success in Chinese market but failure in the Japanese market of the first round? The aim of thesis is to understand the internationalization of IKEA in Asia by comparing between Japanese and Chinese markets. This master thesis based on qualitative approach in order to investigate the internationalization of IKEA in Asian markets as a case study since it is beneficial in understanding the observation and explanation of behavior in the certain cases. IKEA is considered as retailer internationalization who expands into Japanese market as a result of deregulation and asset-based advantage while internationalize into Chinese market because of supporting environments such as political, social and economic conditions as well as transaction advantage. To success and failure, psychic distance and learning, strategic decision making process, degree of adaptation of retail offer, entry strategy, characteristics of organization and management characteristics are the influencing factors on internationalization of IKEA in the Japanese and Chinese markets. Internationalization...
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...5 habits holding you back -- and how to change them * by FITNESS Magazine, on Mon Jul 25, 2011 8:21am PDT * 7 Comments * Post a Comment * Read More from This Author » * Report Abuse * * * Email * Print By: Norine Dworkin-McDaniel I was meeting my friend Linda at our favorite Brooklyn cafe to discuss a project. "Six, sharp. I'll see you then," I promised. And by 6:15 p.m., there sat Linda, with a cool margarita in front of her and steam coming out of her ears. I breezed in at 6:30, full of apologies and excuses. But it was no use: I was late -- again -- and she was furious. She tartly informed me that if I kept her waiting once more, I'd be kicked off the project. Everyone's got bad habits such as lateness or procrastination. But if you consistently act in ways that cause you to lose face, lose friends, or fail when a goal is within reach, your harmless personality quirks may have morphed into serious self-sabotage. "A bad habit becomes destructive when your behavior causes more than momentary regret and leaves you feeling disappointed in yourself," says Pauline Wallin, PhD, author of Taming Your Inner Brat. Why do we derail our own happiness? Experts attribute it to a variety of unconscious beliefs: nagging doubt about whether we really deserve what we're striving for; apprehension that we won't be able to handle increased expectations and responsibilities; even fear that our achievement may isolate us from our peers or family members...
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