Nordstrom Marketing Mix: Nordstrom is an unincorporated public company of American origin. It is closely associated with lifestyle and retailing through departmental stores. The company was established in 1901 by founders Carl F Wallin and John W Nordstrom. It is among the biggest department stores with upscale designs in the United States.
Marketing Mix Of Nordstrom
Marketing Mix Of Nordstrom is brand-based. In Marketing Mix Of Nordstrom, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Nordstrom Marketing Mix. Below is the detailed Marketing Mix Of Nordstrom.
Let’s talk about Nordstrom Marketing Mix.
Nordstrom Main Competitors
- Von Maur, Inc
- The Gap Inc
- Saks & Company
- Macy’s Inc
- J Crew Group, Inc
- Donna Karan International Inc
- Dillard’s Inc
- Calories, Inc
- Brooks Brothers, Incorporated
- ANN Inc
- Mercuries & Associates
- Home Retail Group
- JC Penny
Nordstrom’s official website: www.nordstrom.com
Product in the Nordstrom Marketing Mix:
Nordstrom began its operation as a retailer of shoes. Over time, it expanded its range of product assortment to include clothing, accessories, and furniture for homes and weddings. It has also established in-house espresso bars and restaurants. The product catalog of Nordstrom includes
- Makeup Primer, powder nail care mascara setting spray lips liner and gloss, highlighter, eyeliner, eyeshadow, foundation eyebrow, concealer, tools and brushes, makeup tools, blusher, and bronzer.
- Toners for skin care sunscreens, serums, and sunscreens, makeup remover face moisturizers, essences face mists, face masque, cream for eyes peels, exfoliators and
- Hair Care Shampoo, conditioner, hair and styling products, hair dryer, hair and treatment for the scalp
- Fragrances – Travel and rollerball size fragrances, perfume, diffusers and
- Travel and luggage
- Electronics and Tech Accessories – Smart home, speakers, and home audio
- Tabletop and Kitchen Small appliances, server tools, and dinnerware
- Home Decor Rugs and pillow frames for photos, lamps and lighting stationery, desk accessories, decorative accents, candles, and mirrors.
- Bath – Mats, towels, rug, bath accessories
- Bedding Sheets, duvet cover ornamental pillows, comforters, blankets, throws, luxury bedding sets, and luxury sets.
Men and women
- Apparel Tops, activewear, jeans, swimwear, Shapewear, sweatshirts, tops, Hoodies, sweaters, sleepwear, robes, pants, shorts, leggings and jumpsuits, dress underwear, socks, tank tops, t-shirts, suits, polo-shirts, pajamas, and jackets. Coats and jackets
- Footwear – Shoes that are narrow, wide sneakers, athletic shoe slippers, sandals, flip-flops, oxfords, loafers and dress shoe comfort, wedges, boots, sandals, mules, slides shoes, flats, heels, and boots.
- Handbags – Totes, wallets, pouches, shoulder bags, hobo bags, nylon bags, designer handbags, clutches and satchels, belt bags, bucket bags, beach bags, and backpacks.
- Accessories and jewelry – Sunglasses, wraps, scarfs phone cases and tech optical and reading glasses, luggage and travel caps, hair accessories, belts and rings, watches, necklaces, fine jewelry and bracelets, earrings tools for travel, travel kits shaving and beard products such as cologne, ties, pockets squares, cuff links, suspenders, as well as audio accessories.
- Girls’ footwear includes athletic shoes, sneakers, sandals, flip-flops, sandals, swimsuits, dresses, covers ups jackets, coat accessories, and teens.
- Boys’ footwear includes athletic, sneaker sandals, flip-flops, sneakers, swim trunks and jackets, suits, separates, coats, and tweens and accessories.
- Baby-Apparel Accessories, shower gifts, Walker strollers, walker shoes, nursery decor, high chairs, feeding bags, diaper bags, car seats, blankets, health products, bath and baby carriers.
Place in the Nordstrom Marketing Mix:
Nordstrom has expanded its reach to forty states within the United States, Canada, and Puerto Rico. It operates through 377 stores. The full-line stores make up one hundred and 23. It also comprises two Jeffrey boutiques and clearance stores, five Trunk Club clubhouses, and twenty-five stores belonging to Nordstrom Rack. The company provides its customers online through HauteLook, its sale website, along with its sites nordstromrack.com along with Nordstrom.com.
The department store chain has its headquarters in Washington, Seattle. Nordstrom.com has fulfillment and contact centers in Iowa as well as Washington. The company’s distribution centers are in Florida, Maryland, Iowa, Oregon, and California. The leading stores are in Washington, Texas, Florida, and California.
The retail stores of Nordstrom are surrounded by a pleasant atmosphere and are situated in areas with a lot of foot traffic. They have hired competent and knowledgeable staff that provides top-quality service to ensure customers will return time and time. For shipping to overseas destinations, it employs a variety of mediators. Nordstrom has introduced applications available for Android and Apple smartphones, making it simple to shop and buy products.
Price in the Marketing Mix Of Nordstrom:
In the final quarter of the financial year 2015, Nordstrom posted its revenues and net earnings of 14.437 billion US Dollars and 600 million US Dollars, respectively. Nordstrom has targeted middle and middle-class families who go to department stores for purchases. It is an exclusive outlet chain that provides a variety of merchandise.
Nordstrom provides both premium and middle-priced products to increase its customers. The products it sells are of high quality and appreciated by consumers. It also is in a tough battle with competitors. All of these aspects have assisted the company in adopting competitive price policies that are fair and reasonable.
Furthermore, it is priced at the same level as products offered by competitors. Nordstrom has also adopted a promotional price policy and provides discounts, incentives, and sales to help retain customer loyalty. This can result in bulk deals and, in turn, higher revenues and greater profits.
Promotions in the Nordstrom Marketing Mix:
Nordstrom has a robust marketing strategy to build brand awareness within the retail segment. The company advertises on billboards, newspaper ads as well as leaflets. The company maintains an active presence on social media channels like Twitter, Facebook, and its official website. YouTube, as well as Pinterest and Instagram platforms on which the company can promote its brand with zealous. It is very careful to respond to all tweets and publish a monthly newsletter.
Nordstrom offers Nordstrom customers customer cards as part of its loyalty program known as Nordstrom Rewards. Customers can earn points by making purchases of products in the stores. These points can then be redeemed for future purchases. The rewards program comes with four levels of status based on spending per year. It holds six sales events each year in line with its promotion strategy. It also provides gift cards to customers.
Nordstrom is the recipient of numerous awards and recognitions. In 2008 and 2009, it was in the 36 and 72, respectively, in the 100 Top companies to work for by Fortune magazine. In 2013 it got named the top Fashion Retailer in Women’s Wear Daily, a fashion magazine.
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