Research Proposal on "Nordstrom, Inc"
Research Proposal 5 pages (1450 words) Sources: 6 Style: APA
[EXCERPT] . . . .
Nordstrom SWOT AnalysisThe intent of this paper to complete a thorough SWOT analysis of high-end retailer Nordstrom's and provides a series of recommendations to the company based on a complete analysis of the company. Today the company operates a chain of stores both across the U.S. And internationally, selling men's, women's and children's clothing, accessories, shoes, luggage, sundries and home decorating products. Nordstrom has also pioneered the development of online retailing and customization of apparel and shoes for men, women and children. They are widely recognized for their excellent coordination of selling efforts between Nordstrom Direct, their online initiative, and their catalog sales strategies. Nordstrom is traded on the New York Stock Exchange under the symbol of JWN.
Strengths
Fundamental structure of the company is based profiting from execution across the entire retail value chain. The company operates in four segments as of 2008, which include the retail, credit, direct sales and ancillary, other businesses. Best known for its retail operations Nordstrom now operates 155 stores in the United States throughout 27 states, 99 of which include full-line Nordstrom stores, 50 discount Nordstrom Racks, two clearance stores that operate under the name Last Chance, and one free-standing shoe stores.
Nordstrom has concentrated on being the financial intermediary for transactions originating in their stores and this is a major competitive strength from a financial standpoint. The credit segment of the company offers a private label Nordstrom Visa credit card, in addition to offering debit cards offered on accounts at N
download full paper ⤓
Weaknesses
Heavily dependent on the U.S. For the majority of its revenues. As of 2008 the majority of revenues, 98.7% in the latest fiscal year, were generated in the United States as the company made the decision to re-trench domestically.
Smaller scale of operations don't sale well into nationally-based discount stores. This is evident in the performance of the company in regional roll-outs of their Nordstrom Rack stores. Critics have contended that this is due to the company not having systems in place to deal with discounted merchandise. It is however a weakness of execution the company needs to address.
Opportunities
Increasing reliance on online shopping channels by retailers. This is increasingly becoming a preferred buying channel on the part of consumers who are increasingly starved for time. The challenge for Nordstrom's is to replicate their in-store experience online as well (Cate, 2007). More projects which include the key success factors the Nordstrom online shoe store had need to be introduced.
Growth of discount retailing makes Nordstrom Rack a high growth potential opportunity. This is also a critical factor in their growth as mass merchandisers including Wal-Mart and Costco increasingly compete in the clothing retail industry. Nordstrom faces a daunting challenge of coming down-market with its messaging, as it is today at the high-end of the market in terms of branding.
Threats
Increasing rental rates while the U.S.-based credit crunch continues to reduce retail sales in 2008. The U.S.-originated credit crunch and recession is now impacting many other economies around the world and significantly slowing down sales of retailing chains and independent stores. This is the most severe threat facing Nordstrom's today.
A tendency to get out of focus due to so many ancillary businesses running concurrently. The company has diluted management focus due to the many businesses the company is in including financial services products, involving credit cards and even mortgages through Nordstrom Bank.
Nordstrom's is in one of the most competitive sectors of the retailing industry there is, facing Target and other entrenched, well capitalized competitors. Nordstrom competes with several major retailing chains including Dillard's, Federated Department Stores, Target Corporation, the Gap, Inc., Neiman Marcus Group and several others. Competitors' market shares are shown in Figure 1. Target dominates U.S. retailing today with 30.2% market share, followed by Sears' (24.1%) and Macy's (12.5%).
Figure 1: Market Share by Competitor
Source: SEC Filings by Nordstrom and competitors
Recommendations
Nordstrom's future is full of potential. The following are the series of recommendations for the company to focus… READ MORE
Quoted Instructions for "Nordstrom, Inc" Assignment:
“A thorough SWOT analysis should be presented and explained. The SWOT analysis should discuss each of the two or three: of major strengths, weaknesses, opportunities, and threats. A complete SWOT analysis listing all of your findings should be included as an appendix. No major strengths, weaknesses, opportunities, or threats should be missing, and items under each category should be appropriately categorized and written. A conclusion should also be included that clearly identify problems/issues, based on the SWOT analysis. The problems/issues should be prioritized, differentiating those that are important from those that are routine. Relationships among the problems should be identified, with the underlying, primary or key problem/issue clearly designated. A minimum of six sources should be used, but additional sources would be a plus and may be needed. All sources should be professional and/or academic in nature and be highly credible. Mergent Online, Hoovers, and company annual reports are examples of appropriate sources.
How to Reference "Nordstrom, Inc" Research Proposal in a Bibliography
“Nordstrom, Inc.” A1-TermPaper.com, 2008, https://www.a1-termpaper.com/topics/essay/nordstrom-swot-analysis-intent/5030504. Accessed 28 Sep 2024.
Related Research Proposals:
Customer Service Term Paper
Customer Service
It was during the early years of the 1990's that several important trends developed and these tended to dominate the organizations of that time. Some of them were… read more
Term Paper 10 pages (4220 words) Sources: 1+ Topic: Business / Corporations / E-commerce
Influence of Branding on Consumer Purchasing Behavior Research Proposal
Branding Strategies
Assessing the Influence of branding on consumer purchase behavior is begins with an analysis of how the accumulated effects of marketing strategies contribute to the permanency of branding… read more
Research Proposal 44 pages (12200 words) Sources: 100 Style: Harvard Topic: Advertising / Marketing / Sales
Mind Body Connection With Learning Thesis
Mind Body Connection w/Learning
This is a template and guideline. Please do not use as a final, turn-in paper.
One only needs to feel the knots in the stomach prior… read more
Thesis 4 pages (1292 words) Sources: 4 Style: APA Topic: Anatomy / Physiology
Ewom Communication and Brand Trust Term Paper
EWOM Communication and Brand Trust
Brand Trust and Customer Equity
EWOM Communication and Customer Equity
Brand Equity Drivers and Customer Equity
Relationship of Equity Drivers on Customer Equity
Value Equity… read more
Term Paper 66 pages (18230 words) Sources: 1+ Topic: Advertising / Marketing / Sales
Brand Equity Describe the Roles and Objectives Research Paper
Brand Equity
Describe the roles and objectives of a brand manager and a brand management team
Brand, or product, management is the other principal area of corporate advertising and in… read more
Research Paper 10 pages (3224 words) Sources: 60 Style: APA Topic: Advertising / Marketing / Sales
Sat, Sep 28, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!