Nordstrom Target Market

When launching a new product or service, a company needs to develop the key group of customers in which they are targeting. There are many steps in identifying the target market; one of these steps is to look at past marketing plans in a company and collect information to produce a customer profile. This profile is important because “it influences the objectives, creation of the communications message and the channels and media mix being selected” (Gbadamosi and others, 2013, p. 275). When this profile is solidified, the appropriate methods to make a successful marketing plan can take action to launch the new product or service. Nordstrom’s Treasure & Bond, is a new clothing line by the leading fashion specialists, targeting 18-30 year

For any department store, let alone one of such high quality, it is important to create a product that creates attention and interest. Nordstrom applied this concept when launching Treasure & Bond. They created a product that “offers cool, causal collection of reworked favourites- from perfect-fitting jeans and soft tees to leather jackets & more” (Nordstrom). Pairing a product that is appealing to the target customer, with a charity empowering young girls and women, it makes the product more interesting and may entice consumers to make a

The power of social media is finally getting recognized by companies. Using sites such as Twitter, Facebook, Instagram, and Pinterest to place advertisements about a new product, or even posting a general idea of what the product you will be launching can create buzz about the new product and can be seen by thousands, perhaps millions of people. Using social media as a platform for the AIDA (awareness, interest, desire, action) model would undoubtedly secure attention, interest, desire, and action in a new successful product launch. The other recommendation I have is to plan your marketing strategy as early as possible. Planning early will allow a company to do as much research as possible to ensure that they have the correct customer target, while applying the marketing mix in the proper way, and even allowing time to make last minute adjustments before launching the product. Planning ahead of time ensures that when the time comes to launch the new product, everything has been carefully reviewed to guarantee success. Finally, studying your competition will allow you to modify your product in any way to solidify that the product you are offering has more appeal than the competitions. Studying the similarities or differences of the competition