Retail positioning aims to provide a competitive edge by differentiating the retailer from its competition. This differentiation can be achieved through retail offerings that appeal to, and are easily identifiable by its target market. This process is done by selecting market segmentations, and matching them to the retail offerings as precisely as possible. The goal is to provide a unique experience that is distinct from its competitors. The luxurious retailer Nordstrom differentiates itself from competition by positioning itself as an upscale fashion store with outstanding customer service, and a multi-channel approach.
A lot of the clothes offered by Nordstrom can be purchased elsewhere for a lower price. However, Nordstrom knows that you …show more content…
Behind a company 's retail positioning lies an underlying intention. The likely intention behind Nordstroms positioning strategies is to capture customers loyalty and lifetime value, provide superior customer service, and gain competitive advantage. The importance of customer service is often underestimated. The first thing that comes to mind when mentioned Nordstrom is “customer service.” Nordstrom simply offers an experience that separates itself from the competition. This experience alone distinguishes itself from other competitors in its category and makes the customers loyal to this company. Also, the multi-channel retail offering appeals to many target markets as opposed to just one. The rapidly growing E-commerce portion of this business appeals to millennials that account for a large portion of the company 's sales. Nordstrom Rack targets consumers that are middle-class workers looking for the right bargain, and the E-commerce attracts millennials that are an integral part of the company 's success. For each consumer 's unique needs and wants, Nordstrom seems to have a solution and developed product mix.
Conclusively, Nordstrom has many positioning strategies that distinguishes itself from competition. Positioning strategies are a crucial determining factor for a company 's success and growth. Nordstrom is a leading retailer in customer service and utilizes an omnichannel approach. The combination of these two provides superior experience for the customer, which they are willing to pay a superior price
A lot of the clothes offered by Nordstrom can be purchased elsewhere for a lower price. However, Nordstrom knows that you …show more content…
Behind a company 's retail positioning lies an underlying intention. The likely intention behind Nordstroms positioning strategies is to capture customers loyalty and lifetime value, provide superior customer service, and gain competitive advantage. The importance of customer service is often underestimated. The first thing that comes to mind when mentioned Nordstrom is “customer service.” Nordstrom simply offers an experience that separates itself from the competition. This experience alone distinguishes itself from other competitors in its category and makes the customers loyal to this company. Also, the multi-channel retail offering appeals to many target markets as opposed to just one. The rapidly growing E-commerce portion of this business appeals to millennials that account for a large portion of the company 's sales. Nordstrom Rack targets consumers that are middle-class workers looking for the right bargain, and the E-commerce attracts millennials that are an integral part of the company 's success. For each consumer 's unique needs and wants, Nordstrom seems to have a solution and developed product mix.
Conclusively, Nordstrom has many positioning strategies that distinguishes itself from competition. Positioning strategies are a crucial determining factor for a company 's success and growth. Nordstrom is a leading retailer in customer service and utilizes an omnichannel approach. The combination of these two provides superior experience for the customer, which they are willing to pay a superior price