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Nordstrom’s Marketing Mix

The consumer goods industry is a competitive market, and in particular, the retailing

sectors are trying to find their niche using a wide range of strategies. It is conspicuously evident

that the retailing niche is expanding rapidly, and companies are seeking new markets across the

country and globally considering the competitiveness of key players in the industry. Companies

must come with efficient strategies if they settle their space in the market. Thus companies need

to consider their marketing strategies to capture both the local and the global industry. The

marketing departments in every industry have become an integral part of corporate sustainability

and ensuring the going concern of the business by providing there is a strong presence of the

company in the market. The global space and the market trends keep changing, and every day the

strategies of marketing keep changing but remain within the tenents of the 4Ps of marketing

[ CITATION Cel15 \l 1033 ]. In this paper, we are going to look into the marketing strategies of

Nordstrom

Executive Summary

Nordstrom Inc is a high-class store chain in the USA. It is a public limited company that

is associated with lifestyle and the retail industry operating through departmental stores. The

company was founded by Carl F Wallin and John W Nordstrom in 1901. The company has

captured several markets through the use of different strategies, and it is one of the referenced

companies on the effectiveness of its marketing strategies. They have an understanding of their
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marketing niche and the target groups, which have helped them, come up with effective

strategies that have helped the business grow despite the fierce competition in the market. The

report is going to evaluate the marketing strategies of Nordstrom Inc. and its network in retailing

and understand its marketing success. The report will also give recommendations on

developments that should be made to enable them to stay relevant and for their further

development. Understanding the role of marketing strategy is vital for the success of the

business, and this Nordstrom is one of the best examples to learn from [CITATION MAr19 \l 1033 ].

SWOT Analysis

Strength

This plays a vital role in the retailing industry as the companies can develop unique styles

depending on the target audience. The company can come up with different ways in which they

can build their brands through innovation and create an identity that will help them position them

strategically. Therefore a brand needs to have a reliable identifier that will enable it to stand out

from the rest [ CITATION Mer20 \l 1033 ].

Weaknesses

The brands, when analyzing their position in the market they should examine their place

in the market, their location, the place in the market as compared to other competitors. Every

weakness that may be stalling the brand compared to its competitors should be worked on them

to raise the popularity and use of their products or services.

Opportunities

The company should look at its popularization style and the approach they could use to

capture new markets or expand their niche. The brand owners always prefer to deal with resellers
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and sometimes make the business lose touch with the customers. There should be ways increased

to ensure there is increased interaction with the customers to establish a relationship.

Threats

The integration of innovative styles into a business could lead to misunderstanding. The

company should clear the air on the products their originality and use. Perils also come from the

competitors who are also coming up with strategies to expand their market. Therefore every

company should ensure they

Marketing strategy

Nordstrom Inc. is a service provider retail company, but also, they are introducing their

goods industry that they will operate in the market. The marketing strategies have an origin on

the 4Ps of marketing, but Nordstrom Inc. has expanded its scope of the mix to capture &

marketing mix that we will evaluate in this study [ CITATION MAr19 \l 1033 ].

Product

Nordstrom Inc. is a company that retails on high-quality goods from the fashion industry

for men, children, and women to cosmetics and accessories, which help brand the style of

people. Products sold by the company keep changing as they come with innovative techniques in

fashion and other [products that they have managed to maintain the right presence in the market.

They have products for men, women children, and even they have invested in products that can

be used at home.

Price

Nordstrom has a sound discount system that makes it attractive to purchase from them

and makes the consumers be tempted to buy more. The industry is very competitive, and

Nordstrom Inc. provides one with the option of purchasing all goods affordably in one shop. The
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company has various promotional strategies like holiday sales and other offers that make the

company to retain clients and get new ones. Nordstrom has ventured in mid-range products so

that they can reach comprehensive their base and niche in the market while still maintaining their

high quality.

Place

The company has made itself accessible by clients. They have also come up with the

option of eating at their shop for visitors. The company has also created a robust online presence

that has helped them reach a larger audience, and the broader audience arrives at their

convenience. The company has ensured they have invested their physical spaces with a pleasant

environment and ambiance such that the customers will want to come back to get the experience.

The company is located in 42 states in the USA and other countries like Canada and Puerto Rico.

Promotion

Nordstrom uses a variety of methods to promote their products in the market. One of how

they encourage their products is through the direct mailing of the clients; this helps to build a

relationship with them. The company also has competitions, free rewards to customers by

rewarding loyalty, amongst others. The use of direct mails, advertising, and direct promotion are

the primary tools used by the company to promote their business in the market and maintain a

reputable name in the industry. Nordstrom also has a keen brand awareness that is used to

increase awareness of their products in the market. They advertise using billboards, magazines,

periodicals, and social media.

People
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Nordstrom Inc. uses a variety of tools to attract customers who will be interested in

spending to get expensive clothes and cosmetics. As they use their various methods to attract

those who will be involved, Nordstrom Inc. has invested in providing high-quality products and

services such that people would want to come to the shop to get an experience of the service they

desire. They practice standardization to ensure their products are reputable, and the target group

will always value their products.

Action programs

It is not easy for strategies to attract new customers to work as there is an increased

global crisis, and people are revaluating how they spend their money. The technologies are also

changing swiftly, meaning the company should ensure it is continuously evolving without which

they will be affected by the increased competition in the market.

Recommendations

The company should increase its portfolio of products to capture more people in the

market as well as meeting its customer's needs.

 The company should improve the packaging of its products so that more people

can be willing and ready to purchase its products as they should look more

appealing.

 Nordstrom should come up with discount programs that operate within a short

period of tie to attract new customers and also maintain those that exist.

 Nordstrom should open its retail stores to use them as channels for sales. The

reason for this is to reduce the costs that the company incurs, and this will also

help them increase their margins of profit. The other advantage of operating their

retail will be to improve the interaction between the company and the clients.
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They can come up with designs that are accustomed to the market and also create

a good relationship with the customers.

 Nordstrom should be involved in exhibitions where they can showcase their

products and increase awareness of their products in the market. Exhibitions and

trade always happen every year.

 Nordstrom should collect data from their clients and use the data to send

messages to their customers, and this will lead to an increase in the number of

repeat customers in the shop.

 Nordstrom should also improve its recruitment procedures or train its staff to

enhance the customer service that people get when they come to the shop. The

team is the first brand ambassadors of the products and should be able to create an

experience with the customers.

Bibliography

Celverism. (2015). Understanding the Marketing Mix Concept – 4Ps. Retrieved 30 4, 2020, from

Celverism: https://www.cleverism.com/understanding-marketing-mix-concept-4ps/

Marketing 91. (2019, May 11). Marketing mix of Nordstrom. Retrieved 30 4, 2020, from

Marketing 91: https://www.marketing91.com/marketing-mix-of-nordstrom/

Mercia, S. (n.d.). SWOT ANALYSIS. Retrieved 30 4, 2020, from Refernce for Business:

https://www.referenceforbusiness.com/management/Pr-Sa/SWOT-Analysis.html