Marketing Management Theory

MIDTERTRM

MARKETING MANAGEMENT THEORY ( BA551)

BAUYRJAN BYERDKHAN      STUDENT I.D -515121

                                                           1. Nordstrom

1. How else can Nordstrom continue to provide exceptional customer service and increase brand royalty?

In the business, any company who wants to increase their brand loyalty, they should focus on its corporate social responsibility and value proposition besides not just giving attention to quality products and rewards. Therefore, Even Nordstrom has already built a remarkable customer service they should focus on more CSR and value proposition to gain their customers trust. So I would recommend them to serve the best service quality to all their clients. Also, Nordstrom can increase its brand loyalty by keeping a close relationship between salesperson and the customers. They can think about increasing its loyalty program by lowering the price of its products.

1. What are Nordstrom’s greatest risks, and who are its biggest competitors?

For most retail stores customer service is often the last element and often the most overlooked. As a strong brand in the fashion, jewelry and cosmetics, Nordstrom has done a good job providing customer service to achieve maximum satisfaction. Because they really so heavily on loyal buyers, Nordstrom must constantly be adding new customers by converting 10% of the Nordstrom shoppers into Nordstrom buyers. Nordstrom’s biggest competitors are those companies who recognize the value of customer service like Bloomingdales and Neiman Marcus,

1. 4Ps Marketing Strategy

Promotion: very active presence on social media such as Twitter, Facebook, Instagram and Pinterest, weekly newspaper, Customer Royalty Program which offers if certain customer reaches certain point throughout a year, they free $20 notes to use it for their next purchase off.

Product: wide range of men and women’s apparel, cosmetics and fragrances

Place: currently operates 112 full line stores, 69 Nordstrom Rack clearance stores, 2 Jeffrey Boutiques, 1 clearance store around the US. They also offer online shopping.

Price: wide range of prices, Nordstrom is high end fashion store but they are known for their affordable luxury, they offer five designated sales through year, and the largest sale they offer is Nordstrom Anniversary Sale which holds in July.

2: Tesco

1. What is next for Tesco? Where and how it can grow? Who will it target?

Tesco is a multinational grocery and general merchandise retailer. It can grow through their loyalty reward cards. It can be a good a market research approach so that Tesco can receive more information about customers’ preferences. However their next step should be better quality. They should make sure that everyone is satisfied with their goods and different services. Tesco should continue to provide additional convenience to consumers through the diversification of their goods and services.