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Nordstorm: How to Succeed by Selling Just One Shoe - Essay Example

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The research paper “Nordstrom: How to Succeed by Selling Just One Shoe” focuses on Nordstrom, an upscale retail department store that has an expanded product base which includes handbags, clothes, accessories, cosmetics, hardware and even furnisher…
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Nordstorm: How to Succeed by Selling Just One Shoe
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Nordstorm: How to Succeed by Selling Just One Shoe

Download file to see previous pages... All three of these have a broad product range of fashionable products that are often priced higher than that of their competition. Nordstrom is one of the biggest departmental stores as compared to the other three but all of them have different departments within them that are categorized according to the products they sell. Each department exists separately from the other and the customers are required to check-out and pay for their purchases at each department separately. Thus each department has to account for its own sales and come up with their own sales strategy, even though promotions are done jointly. Describe Nordstrom's level of service on the continuum from full service to self-service. Give an example of a store that would be on the opposite end of the continuum and explain their differences.  Nordstrom provides full service to its customers as opposed to self-service. Nordstrom, like other departmental stores, aims to increase revenue by getting to know the customer closely and this calls for full service to the customer. ‘Full service retailers create an atmosphere that will encourage customers to return for more enjoyable shopping experience’ (Bennett, 2009). An example of a store that offers self-service are discount stores where the revenue is increasing through increased sales, such as Wal-Mart. Both these retail stores vary on the way they cater to their customers. The customers at Nordstrom are aided by the sales team to help them in their buying choices to make shopping a pleasurable experience while customers at Wal-Mart have to rely on their choices and budget to complete their shopping. In order to decrease overhead costs, Wal-Mart does not offer full service and other auxiliary services to its customers. These auxiliary services offered by full service stores include children’s play area, fashion consulting, gift wrapping, liberal return policy and a complete shopping experience. Analyze the six components of Nordstrom's retailing mix to determine which have been the most important to the company's success. Provide a detailed rationale.  Retailing mix are the tools of the retailer whereby he increases the success of the company by focusing on influencing the customer. Retailing mix includes ‘aspects of store design and in-store merchandising, customer service broadly defined and beyond simple employee interaction with customers and employment practices’ (Dupius and Dawson, 1999). The six components of Nordstrom’s retailing mix are product, positioning, promotion, price, customer service and place. Customer service in Nordstrom plays the chief role in the success of the company since customers comes first at Nordstrom. The customers are allowed to set appointment dates with employees and exchange business cards which allows for a more informal relationship. Also the employees are most accommodating towards the customers and even exchange products not sold at Nordstrom. The strategy of ‘greed through love’ works in increasing the loyal customer base for Nordstrom.  ...Download file to see next pagesRead More
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