Question

Retail Strategy - Nordstrom

For this assignment, watch the video linked below (Nordstrom Rack: Retail Strategy). As you're watching, take note of how Nordstrom Rack addresses each of the 4 Ps in creating their retail strategy.   

Link: Nordstrom Rack Retail Strategy (https://www.viddler.com/embed/fd437bba/?f=1&player=arpeggio&secret=87674144&make_responsive=0)

As a reminder, the 4 Ps are:

• Product
• Price
• Promotion
• Place

Now, take your notes and write a one-page essay that addresses the following questions:

1. What is Norstrom Rack's approach to each of the 4 Ps? In other words, take each of the 4 Ps and describe what Nordstrom Rack is doing in that area.
2. Do you think Nordstrom Rack's retail strategy is positioned to be successful in the modern environment? How about the long term?
3. If you were a retailer in the same space as Nordstrom Rack, what would you do to compete against them?

Your paper should be one page, double-spaced, standard fonts and margins.

Answer 1

Introduction:-

Retail Strategy - Nordstrom,4ps

Solution:-

Product:-

Nordstrom is more into the top brands which mostly serves the upper middle class and upper-class people they have the various category of the clothing like a t-shirt, polo, jeans, pants and for women, shirt, dress, pants, dresses, swimwear, lingerie, shorts, pants .they have various type of the shoe for woman and men .other section like beauty and sunglasses, Various tip brand like Versace, Louis Vuitton, Burberry, Lacoste

Price:-

They have various discounts of all and brand so the more customer footfalls occur in the store and annual year sales every one of July so most customer footfalls occur for the shopping, they have return policy also in which customer can return the product in a certain time as per the policy of the company

Place:-

They have their retail store nearby the Gym and Retail grocery store so weekend when customer come for shopping in grocery and gym they attract the Nordstrom store for shopping their present is in 96 countries with 349 store and in which full-line store is 123 &215 rack store .there buying facilities can be made by online portal also https://www.hautelook.com

Promotion:-

Nordstrom is very active on the social media such as Facebook, Instagram, Pinterest, Twitter .they have gift cars subscription, and monthly newsletter for those who have subscribed to them .they do not have brand ambassador, They never market the from radio or television they do advertise their brand in the newspaper in the time of sales and on billboards

Do you think Nordstrom Rack's retail strategy is positioned to be successful in the modern environment? How about the long term

Yes Nordstrom racks retail strategy positioning is successful in the modern environment and for the long term, they have the great customer service and various type of promotional activities like a social network, twitter, Instagram, Facebook & the on of the most top in the omnichannel retail

If you were a retailer in the same space as Nordstrom Rack, what would you do to compete against them?

By the swot analysis:-

Strength	Weakness
Customer service, multiple stores	Expensive price, store location
Opportunity	Threats
Expansion internationally	Intense competition

As the Nordstrom rack retail place there store nearby gym and grocery retail I will make my retail store located inside the big shopping malls can achieve a great footfall and have the weekly sales offers like which are out of the stock market to give in buy one get one free scheme so the customer sales will increase

Conclusion:-

This is the Retail Strategy - Nordstrom

??Please upvote ? Appreciate you