In order for retailers to be successful they must define their target markets and decide how they will differentiate themselves from competitors who want to serve those markets as well. These aspects must be carefully considered before proceeding, as the success of the retail company will largely be dependent on these factors. It is necessary for a retailer to first segment and define their market in order to move on to following steps. After the market has been segmented and defined, then the retailer can move on to the next step and differentiate their services from competitor. Nordstrom’s has made positioning and differentiating decisions that effectively distinguish them from their competitors.
Initially, a retailer must segment and define their target market. These decisions must be
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It can be very difficult to differentiate yourself from competitors in the retail marketplace. In order to combat this, Nordstrom’s, offers superior customer service, product quality, and continuous improvement. Nordstrom receives much praise, and has successfully distinguished itself from competitors through their personalized sales associate. That is, when a customer walks into the store, a personal assistant will approach them and offer to assist and aide them in their buying process. Nordstrom is differentiating itself by offering a limited service retail store, whereas competitors, such as Target, offer a self-service retail store; thus successfully creating an increased value to the existing retail store. However, in order to stay successful Nordstrom must go above and beyond to exceed the customer’s expectations. Moving forward, Nordstrom makes sure to keep in stock the highest possible quality products that customers will find appealing. Additionally, it is pertinent for Nordstrom to constantly keep up with popular fashion trends to appeal to the