E-Business, established retailer, e-commerce, Nordstrom online, sells clothes, shoes, accessories for men, women, kids, main challenges the retail organisation, multichannel approach, offline way of commerce, advertising, promotion, payment, delivery systems
Nordstrom is a fashion outlet that sells clothes, shoes, and accessories for men, women and kids. It was created by John Nordstrom in 1901 with the aim of providing quality products to all its customers. Nordstrom exists in Canada and 40 states in the United States with 117 stores and 248 rack stores. With the coming of the digital transformation, Nordstrom implemented a web approach which was successful and today generates 30% of their business. With a daily visit estimated at more than 800 million per day annually, Nordstrom is one of the giants in its domain thanks to the technology.
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[...] Task 2 – Marketing Approach and Techniques - 20 Marks Examine the range of marketing approaches and techniques that have been used by the organisation to promote its products to both existing and potential online customers, identifying THREE that you believe have been particularly successful, giving your reasons for your choice. Answer A marketing strategy is a business's general scheme for developing a customer base for the product or service the business provides. A good marketing strategy is vital with a view implement in order to be known and make the difference between competitors. Particularly for Nordstrom, the company used to invest 229 million USD in advertising in 2019 (Statista,2019). [...]
[...] Different types of reverse logistics are returns, remanufacturing, end-of-life, delivery failure, unsold products, repairs and maintenance. Specifically, in a supply chain, reverse logistic is adding value to a returned well to increase the quality and gain customer loyalty. Reverse logistics has many benefits for the organisation especially the supply chain. The roles of reverse logistics at Nordstrom are: • Stop end of life cycle, where a product has reached its expiration date, it becomes a lost for the seller and the customers because one will not his needs and second will not earn profit. [...]
[...] In addition, he can also scan his QR code in the retail outlet and the system will take in charge all the rest. • Facilities, online payment can be done either by phone, computer or tablet so it's an easy way to perform the task without having to go to the ATM and search lot of money. • Global transactions, online payment allows customers to make purchases wherever they are. A customer can be on a long trip, order a product and then give a pick-up code to their child or give their house address to the deliverer person. [...]
[...] Reduce costs, real-time stock management allows the company to save on its cost and save money that is wasted on useless purchases. Stock management allows all the different outlets to be informed of the different products that have high customer demand and those that do not. This way the company will stop ordering useless products. Moreover, it limits the transportation and warehousing fees. Meet the customer needs and expectations, the real time management strategy enables the company to be on time when it has to deliver a product. [...]
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