Professor Jamar Jeffers
May 29, 2011
Marketing is a crucial part of a company; it is defined as “the activity, set of institutions, and processes of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Lamb, 2010). In other words marketing can be seen as a planned concept used by most businesses to enhance their financial growth. Customers can be put at ease with knowing that the products they purchase are of excellent quality and the quantity they demand will be available. Before taking this marketing class; when I heard the word marketing my thought was that it only involved advertising and selling a product; when in actuality it involves research planning, the product, and market development as well as training and marketing services. It’s critical that every phase of the marketing plan be researched and well executed if a company expects to be successful.
All the aspects that I mentioned will be how Nordstrom’s have maintained continual growth. Founded by Carl F. Wallin a Seattle shoemaker and John W. Nordstrom opened a shoe store, Wallin and Nordstrom in Seattle in 1901. The two built their business on the philosophy of offering customers the best in service, selection, quality, and value. As of today Nordstrom continues to grow and thrive on that same philosophy through its family-controlled business. Nordstrom believes in service with a smile and want to project an image of small town modesty – that’s the corporate culture and it sells. Nordstrom’s course has been to modernize, adding brands such as Caslon, DKNY, and Emme for women and Facconable (which they later acquired), Kenneth Cole, and Tommy Bahama for men to its racks. Restructuring took place in 1999 and at that time Nordstrom’s decided to sharpen its image with consumers. In May 2000, Nordstrom’s declared, “Reinvent Yourself” as its advertising campaign, when customers entered the stores they no longer saw piano players wearing tuxedos (former trademark) instead there was a more modernized display of hip, brighter, flashier colors, and more casual apparel. As a frequent consumer to Nordstrom’s, whether or not it’s one of their 115 full-line stores or their 86 Nordstrom Rack stores; I always experience their continued personal touch. Today Nordstrom is still controlled and owned by the family, whose commitment and philosophy is still the foundation of its success. The retail store may move forward with the trends of technology, but the needs of today’s consumer will always come first. Type of Retailer Nordstrom’s is and characteristics it shares with other retailers
Nordstrom’s known as a high end retail department store that carries a wide variety of specialty goods that include: apparel, cosmetics, footwear, accessories, musical cd, and some of their retail stores may also carry furniture. As a past employee of Nordstrom’s and eventually a consumer I really like the idea of purchases being made within each department rather than at on central check out area. Each department is treated as a separate buying center to achieve economies in promotion, buying, service, and control. As a part of the retail industry Nordstrom’s share many characteristics as other retailers such as: the generous exchange policy, superior customer service, and product quality. The biggest part of Nordstrom’s success is their generous exchange policies; this is what keeps consumers coming back. When I went through my new hire orientation with Nordstrom’s; the main term that was drilled into our heads was the customer is always right, which meant if a customer came into the store with a pair of jeans from the gap and even though I knew we did not carry the gap brand just agree with the customer and offer them something for that item. Now I wondered how in the world they would prosper from such a policy...