During the group presentation, the first marketing plan proposal for Nordstrom was provided to make its first foray out of the U.S.A. into Brazil. Following that, this report sets out to analyse the market entry plan as, throughout Brazil, opportunities abound for branded fashion retailers to expand. This paper entrenches the development of marketing branding programme to build the brand identity and cultivate loyalty to be integral in driving sales growth.
Furthermore, the appraisal presents a thumbnail sketch of Nordstrom’s leading position in the Brazilian marketplace which is driven by inherent implementation activities through the IMC (Integrated Marketing Communication) process. And with the attention to Brazilian consumer trends and preferences, Nordstrom will dominate the Brazilian market.
To conclude, this recommendation encloses the imperatives for Nordstrom to sustain growth in ROI (Return on Investment) by leveraging its brand values and attributes in the new domain, where Brazil is the optimal territory for its debut overseas and the preliminary market to test its potential to open up new markets south of the equator.
This project includes the business information about Under Armour, Inc. It demonstrates the mastery of analyzing the current financial position of a company and predicting the future growth.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/marks-and-spencer-strategic-analysis-553
This report presents the step by step strategic analysis and the strategic position of Marks & Spencer, one of the leading retailers of UK and industry leader in women wear and lingerie segments. The report starts by presenting a brief background about the company and its current business position. Further, an external environment analysis is conducted using PESTLE analysis in order to understand the macroeconomic and environmental factors impacting the organization. After this step a brief financial review is conducted to assess the financial position of the company in terms of revenue growth and basic ratios. A competitive strategy review using Porter?s Generic Strategy Framework and the Resource based is conducted further. Moreover, in order to understand the strategic direction, the strategy of Marks & Spencer has been evaluated using Ansoff?s Matrix. After understanding the strategic direction, an overview of the methods of development used by Marks & Spencer is provided and the future expected challenges are discussed as well. The paper concludes by presenting the final strategic position of Marks & Spencer using the SPACE analysis and providing recommendations for future growth.
Key Findings
External Environment ? Political, Social, Technological factors are favorable, while Environmental factors are neutral and Economic and Legal factors are slightly unfavorable
Marks and Spencer competitive strategy ? They employed differentiation focus strategy in the UK market, but now moving towards a differentiation strategy for the broader market
Marks and Spencer Product market strategy ? Currently the company is moving from a ?Market Penetration? Strategy to a ?Market Development? Strategy
SPACE analysis ? The strategic position of Marks & Spencer is found to be moderately aggressive.
Comparing Zara and UNIQLO Using Supply Chain Analysis DeshmukhMika Deshmukh
A research paper comparing the supply chain aspects and methods of Zara and UNIQLO in order to draw conclusions about the companies' respective and comparative competitiveness, as well as to provide recommendations to improve their competitiveness in the U.S. market within the next five years.
The case study was given to us by our Professor in Business Policy and Strategy where we were to analyze Patagonia's achievements and successes as well as their downfalls, and give them new ways to expand their business. We took a look at they're corporate strategies, finances, and sales, and then provided feedback with data for where they should ultimately take their company which was described in the case analysis that was given to us.
Pull & Bear was established in 1991 as a result of a market diversification initiated by the Inditex Group to provide a strategic response to its direct competitors.
The Brand initially catered to a younger generation between the age group of 15 to 30years, who demanded a fashion influenced by international trends that quickly adapted
to their needs, while maintaining the quality and price.
The fashion industry has traditionally met the growing demand of women’s fashion and has ignored men’s need of style and comfort. In early 2011, Pull&Bear launched the Heritage collection, a range which catered to men in thirties.
In order to gain market share in the mens wear segment and to maintain the increasing demand of men’s collection from our younger brand loyal customers, a two step medium
term marketing plan is formulated which focuses on:
The Marketing Audit, which analyses current organisation and marketing objectives,strategy, tactics, implementation targets. (The tool used in this step is SOSTAC to
give some structure to the plan).
The evaluation report, which details with the feasibility of the marketing plan in regards to segmentation, targeting, positioning (STP) and providing recommendation
Cultural differences should be considered as a main strategic issue when forming and managing
international strategic alliances, especially for the alliances that are formed of members who
have huge cultural differences like Renault-Nissan alliance. This paper focuses on studying the
cultural impacts on the international strategic alliances through analyzing Renault-Nissan case;
whereby trying to prove that the cultural differences are not obstacles in front of the international
strategic alliances if well managed. On contrast, the cultural differences may provide new
opportunities by combining the best of the different cultures and come up with new best
practices like what Renault and Nissan has done.
The first part of this paper provides an introduction about international strategic alliance, its
definition and characteristics based on the Organization for Economic Co-operation and
Development (OECD), and the main benefits companies aim from strategic alliances in general.
The second part provides an overview of Renault-Nissan alliance and a brief description about
Nissan revival plan which was developed by Carlos Ghosn, in addition to the synergies of the
alliance.
The third part provides a description of the new cultural environment of the alliance and
compares the main cultural differences or challenges that should be considered in managing this
alliance like individualism vs collectivism, power distance, masculinity vs femininity,
uncertainty avoidance, time perception, truth vs virtue, decision making, language and enterprise
loyalty.
The fourth part provides details and figures that show the alliance success and the benefits it has
gained for both Renault and Nissan as their alliance became the fourth car manufacturer on the
global level.
The fifth part as being the conclusion confirms that Renault-Nissan alliance success is evidence
that the huge cultural differences between the allied companies are not obstacles for international
strategic alliances.
ZARA's external and internal enviroment. This presentation covers the main characteristics of ZARA, a general view of fast fashion indystry, Porters' Five Forces Analysis, competitors' external environment as well as a complete internal analysis regarding:competences, capabilities, resources, competitive advantage,value chain and outsourcing.
Digital Marketing Strategies. Case study - Mango Marina Decuseara
What platforms the website has in place and how it should enhance them, the position against their primary competition, how its strategies and tactics are influenced by brand, targeting and positioning, kewords employed in the organic and paid search, email marketing strategy, my recommendations for the organisation.
A literature-based research and analysis about the employment of the four basic managerial factors, namely planning, organising, leading and controlling, in the context of Apple Inc. operations throughout its history, and by the standpoint of all the Chief Executive Officers that passed from its Board of Directors.
This project includes the business information about Under Armour, Inc. It demonstrates the mastery of analyzing the current financial position of a company and predicting the future growth.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/marks-and-spencer-strategic-analysis-553
This report presents the step by step strategic analysis and the strategic position of Marks & Spencer, one of the leading retailers of UK and industry leader in women wear and lingerie segments. The report starts by presenting a brief background about the company and its current business position. Further, an external environment analysis is conducted using PESTLE analysis in order to understand the macroeconomic and environmental factors impacting the organization. After this step a brief financial review is conducted to assess the financial position of the company in terms of revenue growth and basic ratios. A competitive strategy review using Porter?s Generic Strategy Framework and the Resource based is conducted further. Moreover, in order to understand the strategic direction, the strategy of Marks & Spencer has been evaluated using Ansoff?s Matrix. After understanding the strategic direction, an overview of the methods of development used by Marks & Spencer is provided and the future expected challenges are discussed as well. The paper concludes by presenting the final strategic position of Marks & Spencer using the SPACE analysis and providing recommendations for future growth.
Key Findings
External Environment ? Political, Social, Technological factors are favorable, while Environmental factors are neutral and Economic and Legal factors are slightly unfavorable
Marks and Spencer competitive strategy ? They employed differentiation focus strategy in the UK market, but now moving towards a differentiation strategy for the broader market
Marks and Spencer Product market strategy ? Currently the company is moving from a ?Market Penetration? Strategy to a ?Market Development? Strategy
SPACE analysis ? The strategic position of Marks & Spencer is found to be moderately aggressive.
Comparing Zara and UNIQLO Using Supply Chain Analysis DeshmukhMika Deshmukh
A research paper comparing the supply chain aspects and methods of Zara and UNIQLO in order to draw conclusions about the companies' respective and comparative competitiveness, as well as to provide recommendations to improve their competitiveness in the U.S. market within the next five years.
The case study was given to us by our Professor in Business Policy and Strategy where we were to analyze Patagonia's achievements and successes as well as their downfalls, and give them new ways to expand their business. We took a look at they're corporate strategies, finances, and sales, and then provided feedback with data for where they should ultimately take their company which was described in the case analysis that was given to us.
Pull & Bear was established in 1991 as a result of a market diversification initiated by the Inditex Group to provide a strategic response to its direct competitors.
The Brand initially catered to a younger generation between the age group of 15 to 30years, who demanded a fashion influenced by international trends that quickly adapted
to their needs, while maintaining the quality and price.
The fashion industry has traditionally met the growing demand of women’s fashion and has ignored men’s need of style and comfort. In early 2011, Pull&Bear launched the Heritage collection, a range which catered to men in thirties.
In order to gain market share in the mens wear segment and to maintain the increasing demand of men’s collection from our younger brand loyal customers, a two step medium
term marketing plan is formulated which focuses on:
The Marketing Audit, which analyses current organisation and marketing objectives,strategy, tactics, implementation targets. (The tool used in this step is SOSTAC to
give some structure to the plan).
The evaluation report, which details with the feasibility of the marketing plan in regards to segmentation, targeting, positioning (STP) and providing recommendation
Cultural differences should be considered as a main strategic issue when forming and managing
international strategic alliances, especially for the alliances that are formed of members who
have huge cultural differences like Renault-Nissan alliance. This paper focuses on studying the
cultural impacts on the international strategic alliances through analyzing Renault-Nissan case;
whereby trying to prove that the cultural differences are not obstacles in front of the international
strategic alliances if well managed. On contrast, the cultural differences may provide new
opportunities by combining the best of the different cultures and come up with new best
practices like what Renault and Nissan has done.
The first part of this paper provides an introduction about international strategic alliance, its
definition and characteristics based on the Organization for Economic Co-operation and
Development (OECD), and the main benefits companies aim from strategic alliances in general.
The second part provides an overview of Renault-Nissan alliance and a brief description about
Nissan revival plan which was developed by Carlos Ghosn, in addition to the synergies of the
alliance.
The third part provides a description of the new cultural environment of the alliance and
compares the main cultural differences or challenges that should be considered in managing this
alliance like individualism vs collectivism, power distance, masculinity vs femininity,
uncertainty avoidance, time perception, truth vs virtue, decision making, language and enterprise
loyalty.
The fourth part provides details and figures that show the alliance success and the benefits it has
gained for both Renault and Nissan as their alliance became the fourth car manufacturer on the
global level.
The fifth part as being the conclusion confirms that Renault-Nissan alliance success is evidence
that the huge cultural differences between the allied companies are not obstacles for international
strategic alliances.
ZARA's external and internal enviroment. This presentation covers the main characteristics of ZARA, a general view of fast fashion indystry, Porters' Five Forces Analysis, competitors' external environment as well as a complete internal analysis regarding:competences, capabilities, resources, competitive advantage,value chain and outsourcing.
Digital Marketing Strategies. Case study - Mango Marina Decuseara
What platforms the website has in place and how it should enhance them, the position against their primary competition, how its strategies and tactics are influenced by brand, targeting and positioning, kewords employed in the organic and paid search, email marketing strategy, my recommendations for the organisation.
A literature-based research and analysis about the employment of the four basic managerial factors, namely planning, organising, leading and controlling, in the context of Apple Inc. operations throughout its history, and by the standpoint of all the Chief Executive Officers that passed from its Board of Directors.
As part Global Marketing Management Module with Lecturer Mahabubur Rahman, we were tasked to develop a strategic international marketing plan for an actual firm. Our company of choice was Xiaomi, a private Chinese tech company that have taken the smartphone industry by storm in the last 5 years, becoming The world's 3rd largest smartphone distributor in 2014 and the world's most valuable tech start up.
The international marketing plan involved the development of a strategic plan for Xiaomi entering fast growing emerging market of Brazil. The global marketing plan addressed the adjustment of Xiaomi's marketing strategies to adapt to conditions on entering the Brazilian market.
Wells Fargo: Real-time social marketing: Futbol in Brazil, presented by Julie...SocialMedia.org
In her SocialMedia.org Member Meeting case study presentation, Wells Fargo’s Senior Vice President of Product Management, Julie Milbrand, explains how they succeeded at real-time social marketing.
Julie talks about how geo-targeting social posts, being prepared for any scenario, and actively listening in social led to a successful World Cup campaign.
Please be advised that submitting an application does not guarantee you a position working with us. We are seeking on qualified candidates who are serious about earning at least $1000.00 per week part-time. We operate internationally in 155 countries around the world. If you work with us, you are also authorized to operate your business in all 155 countries; however, some countries have certain restrictions that must be adhered to.
When it comes to business, considering other countries’ culture and values are essential. How does one introduce a consumer product into a foreign market? Our group created marketing plan to do just that: Tide Detergent for successful introduction into Brazil. We first started with a detailed cultural analysis, such as living conditions, language, religion, and family values; and economic analysis, such as income, population, and infrastructure; to understand Brazil as a country. We then developed a competitive market analysis, including distribution channels, and product adaptation along with the preliminary marketing plan. This marketing plan explained in detail how we would introduce Tide in Brazil.
Final Project Masters in Marketing Management. Case study dealing with the decline of Unilever's detergent category in the low-income segment in NE Brazil. Objective was to create and present a growth strategy and strategic marketing plan for the category, based on the facts presented in the case. Case Reference: Guimaraes, Pedro Pacheco and Pierre Chandon. Unilever in Brazil: Marketing Strategies for Low-Income Consumers. INSEAD. (2007)
A tool in Marketing Communication that manifest immediate purchase with the help of impulsive buying decision. learn about various methods of sales promotion and key techniques.
Unilever Brazil Case - Marketing Strategy for Low-income ConsumersChen Yang Lim
Case study and recommendations for Unilever's marketing strategy in Brazil.
With insights and collaboration with our very own Brazilian, growth strategies and market analysis are formulated to ultimately recommend the launch of a new product with the low-income segment in mind.
"Mara, Maravilhosa"
Created as part of my master's programme in market research & consumer behaviour at IE Business School
REPAMA is Lustratus Research Ltd’s methodology for reverse-engineering key strategic and tactical marketing elements from the language that vendors use to reach their prospects and customers. The Lustratus REPAMA guide provides an introduction to the REPAMA methodology together with a detailed description of each of the 25+ REPAMA studies.
A study on internal perspectives of marketing strategy implemented by ktdcBella Meraki
Marketing is often thought of only as promotion of products, especially advertising and branding. However it has wider meaning which recognises that it is customer centered. A review of the literature reveals that marketing strategy is important for all company. Marketing strategy is a process that allows an organisation to concenterate its resources on optimal opportunities with goal of increasing sales and achieving suitable competitive advantage.The project work
is conducted in Kerala Tourism Development Corporation (KTDC) at Mascot square, Trivandrum. KTDC uses a marketing strategy whose eectiveness is un-
certain. The primary objective of this study is to evaluate the marketing strategy of KTDC from employees perspective. For the study a questionnaire was made
based on the variables like brand, market, messages, marketing channels, marketing tactics, marketing campaign, sales tools and website. From the study it is
found that KTDC uses a less eective marketing strategy which needs to be modied. The recommendations provided will give KTDC a framework for making new marketing plan.
This research report explores B2B marketing practice, intentions and directions for 2012/13 in Australia. Developed in association with ADMA and Marketing Magazine, and based on responses from nearly 300 Australian B2B marketing professionals, this year’s report delivers essential insights for all B2B marketers.
MBA Dissertation - The voice of the Stakeholder: Customer attitudes to the ro...Amany Hamza
This study attempts to get to the heart of the debate about CSR development in
light of the Financial Crisis of 2008. It is concerned with the perception of CSR activities, the likelihood of the convergence between banks CSR activities and its customer-stakeholder needs and the implications of CSR on their attitudes as well as on Corporate Reputation (CR). Concluding remarks highlight further theoretical development of CSR and managerial implications as well as limitations for future research.
Enterprise & Innovation Assignment - Entrepreneurial Opportunities: Creativit...Amany Hamza
Despite the importance of entrepreneurship in changing the economic landscape of many countries, the identification of the entrepreneurial opportunity is still in its early stages. So far, the researches that have been done are full of dichotomous interpretations. These differences could be due, in part, to the fact that there is no unitary conceptualisation and functional definitions of the construct. Nevertheless, the prevalent interpretations are that entrepreneurial opportunities are either stemming from discovery or deliberate search. To reveal the nature of these opportunities, the entrepreneur's traits and personality have been analysed. Evaluation strategies have also been elaborated. Finally, mapping the entrepreneurial processes has emerged to shape these opportunities (Gaglio, 2001).
This report is intended to contribute to the development of the entrepreneurial opportunities identification by addressing the role of two pillars of entrepreneurship – creativity and innovation – as the sources of these entrepreneurial opportunities.
Research Proposal - CSR - The Voice of the StakeholderAmany Hamza
In light of the recent financial crisis, the practices of CSR have come to the fore in media reports and academic debates. In this context, the goal of this research is, first, to examine the impact of the financial crisis on the implications of CSR activities in relation to stakeholders’ expectations in the financial services industry and, second, to help banking managers to understand what should be done for the benefit of their stakeholders and their own business sustainability.
Research Methods Assignment - The Relationship among board of director charac...Amany Hamza
This report attempts to critically analyse the research paper:
Dunn, P., & Sainty, B. (2009) The relationship among board of director characteristics, corporate social performance and corporate financial performance, International Journal of Managerial, Finance, Vol. 5 No. 4, 2009 pp. 407-423
Corporate Strategy Assignment - The Global Pharmaceutical IndustryAmany Hamza
This report provides an analytical strategic review of the global pharmaceutical industry. In the first part, it covers the external environment of the global pharmaceutical industry using PESTEL analysis and outlines the Key drivers for change. It then uses the Five Forces analysis to demonstrate the industry attractiveness. Secondly, we illustrate the strategic capabilities of Novartis using the Value chain. Finally, we attempt to highlights its financial performance, position and culture.
Global Business Practice Assignment - The changing relationships between Tran...Amany Hamza
This paper aims to distil and critically analyse the changing relations between TNCs and nation-states and to what extent other multilateral institutions do influence these relations.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
Trust Element Assessment: How Your Online Presence Affects Outbound Lead Gene...Martal Group
Learn how your business's online presence affects outbound lead generation and what you can do to improve it with a complimentary 13-Point Trust Element Assessment.
What’s “In” and “Out” for ABM in 2024: Plays That Help You Grow and Ones to L...Demandbase
Delve into essential ABM ‘plays' that propel success while identifying and leaving behind tactics that no longer yield results. Led by ABM Experts, Jon Barcellos, Head of Solutions at Postal and Tom Keefe, Principal GTM Expert at Demandbase.
As the call for for skilled experts continues to develop, investing in quality education and education from a reputable https://www.safalta.com/online-digital-marketing/best-digital-marketing-institute-in-noida Digital advertising institute in Noida can lead to a a success career on this eve
[Google March 2024 Update] How To Thrive: Content, Link Building & SEOSearch Engine Journal
March 2024 disrupted the SEO industry. Websites were deindexed, and manual penalties were delivered—all to produce more helpful, more trustworthy search results.
How did your website fare?
Watch us as we delve into the seismic shifts brought about by Google's March 2024 updates and explore strategies to not just survive, but thrive in this dynamic digital landscape.
You’ll learn:
- How to create content that is valuable to users (not just search engines) using E-E-A-T.
- How to build links that can boost rankings and withstand algorithm updates.
- Best practices for content creation and link building so you can thrive during algorithm updates.
With Vince Ramos, we'll examine the implications of the latest algorithm changes on content creation, link building, and SEO practices, and offer actionable insights from businesses like yours that have remained steadfast amidst the volatility.
Using real-life case studies, we’ll also show you the effectiveness of manual link building techniques and person-first content strategies.
Whether you're a seasoned SEO professional, a budding content creator, or anyone in between, this webinar will help you weather the changes in Google's algorithms and capitalize on them for sustained success.
Check out this webinar and unlock the secrets to thriving in the new Google era.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Exploring the Top Digital Marketing Company in CanadaSolomo Media
Choosing Solomo Media as your digital marketing company in Canada can propel your business to new heights. With their expertise, innovative solutions, and client-centric approach, they are well-equipped to help you achieve your digital marketing goals. By focusing on strategic planning, leveraging cutting-edge tools, and delivering measurable results, Solomo Media proves to be a valuable partner in navigating the complex world of digital marketing.
The Good the Bad and The Ugly of Marketing MeasurementNapierPR
We explore how B2B marketers can impress the board by measuring their PR and marketing campaigns successfully, and explore 5 metrics that will get you promoted, and 3 that will get your fired.
We cover:
-Meaningless marketing metrics
-The difference between attribution and incrementality
-The importance of the customer journey
-Why you should care about prospects that are in market
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Enhancing a Luxury Furniture E-commerce Store with Expert Shopify ManagementSunTec India
SunTec India's expertise in Shopify store management has been a game-changer for a luxury furniture e-commerce business. Through meticulous optimization of product listings, strategic SEO practices, and an enhanced user experience, this case study details the successful outcomes of their collaboration, including increased traffic, higher conversion rates, and stronger brand presence.
Read more- https://shorturl.at/yl3MU
What is digital marketing And why is it used?125albina
Digital marketing refers to the use of digital channels, platforms, and technologies to promote products, services, or brands to a target audience. It encompasses a wide range of activities, including search engine optimization (SEO), social media marketing, email marketing, content marketing, pay-per-click (PPC) advertising, and more. The primary goal of digital marketing is to connect with potential customers where they spend much of their time: online. My Website: https://dev-topdigitalmarketingagency.pantheonsite.io/
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
Checkout Abandonment - CRO School by Mailmodosaba771143
Fear of abandonment’ means a whole different thing in eCommerce.
Because the loss is tangible. And felt right in your pocket.
But that also means there are real things you could fix.
One of the final stages of shopping abandonment occurs is the checkout page.
Which means it impacts your bottom line directly.
So here’s a rundown of:
→ Reasons shoppers abandon the checkout process
→ How other brands cope with these issues
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Do it right, and you’ll feel the change in your revenue.
This is a part of our CRO School series - to help you fix the revenue leaks in your eCommerce store.
Sign up for CRO School and get these insights right in your inbox
(Visit the link to enroll ->https://www.mailmodo.com/cro-school/?utm_source=cro-school&utm_medium=slideshare )
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3. Nordstrom Global Marketing Plan
Page | 2
Table of Figures
Figure 1 – Nordstrom (Source: Permalink) .................................................................................................. 0
Figure 2 – Nordstrom Brasil (Source: Google, Adapted for the market entry into Brazil).......................... 3
Figure 3 – Marketing Analysis (Source: Patricia Mink Rath)....................................................................... 4
Figure 4 - Company Overview..................................................................................................................... 6
Figure 5 – SLEPT Analysis ........................................................................................................................... 7
Figure 6 - Major Segmentation Variables for Consumer Markets ............................................................... 9
Figure 7 - Brand Positioning Based On Pricing Architecture .................................................................... 11
Figure 8 - Comparison of the Different Entry Modes ................................................................................ 12
Figure 9 - Product Assortment ................................................................................................................... 13
Figure 10 - Store Locations in Upmarket Shopping Mall........................................................................... 15
Figure 11 - Physical Evidence - Mannequins ............................................................................................. 16
Figure 12 – Process environment................................................................................................................ 17
Figure 13 – Brand Value Equation.............................................................................................................. 18
Figure 14 - Brand Umbrella Strategy.......................................................................................................... 19
Figure 15 - Ansoff Matrix ........................................................................................................................... 20
Figure 16 - Holistic Communication Strategy across brick and mortar synergies .................................... 21
Figure 17 - AIDA Model............................................................................................................................. 22
Figure 18 - Product Life Cycle and The Boston Matrix.............................................................................. 24
4. Nordstrom Global Marketing Plan
Page | 3
1. Executive Summary
During the group presentation, the first marketing plan proposal for Nordstrom was provided
to make its first foray out of the U.S.A. into Brazil. Following that, this report sets out to analyse
the market entry plan as, throughout Brazil, opportunities abound for branded fashion retailers
to expand. This paper entrenches the development of marketing branding programme to build
the brand identity and cultivate loyalty to be integral in driving sales growth.
Furthermore, the appraisal presents a thumbnail sketch of Nordstrom’s leading position in the
Brazilian marketplace which is driven by inherent implementation activities through the IMC
(Integrated Marketing Communication) process. And with the attention to Brazilian consumer
trends and preferences, Nordstrom will dominate the Brazilian market.
To conclude, this recommendation encloses the imperatives for Nordstrom to sustain growth in
ROI (Return on Investment) by leveraging its brand values and attributes in the new domain,
where Brazil is the optimal territory for its debut overseas and the preliminary market to test its
potential to open up new markets south of the equator.
Figure 2 – Nordstrom Brasil (Source: Google, Adapted for the market entry into Brazil)
5. Nordstrom Global Marketing Plan
Page | 4
2. Introduction
Nordstrom Inc. - a fashion specialty retailer with 242 stores all in the U.S. (Yahoo Finance, 2013)
and the world’s number 10th best retail brand for 2013, according to Interbrand - is stepping up
efforts to expand globally. Hence, with the flagging economy and consumers are trading down
in home market, opening overseas is a way for Nordstrom to keep growing (Forbes, 2012).
Figure 3 – Marketing Analysis (Source: Patricia Mink Rath)
6. Nordstrom Global Marketing Plan
Page | 5
Nordstrom offers its customers a range of brand names and private label merchandise focused
on apparel, shoes, cosmetics and accessories. And through a series of smart investments and
strategies conceived out of management realisation that the customer is the one in the driver's
seat, Nordstrom showed ability to anticipate very well to the markets changes (see Appendix
AP-IF- FH).
Nordstrom integrated marketing framework addresses how its corporate brand communicates
and resonates with its targeted customers to meet their propositions in a way to live up to its
brand promise amid multifaceted efforts of CRM to retain customers and of CLV to acquire
new customers (Kotler et al, 2009).
3. Situational Analysis
The marketing environment for Nordstrom represents overwhelming opportunities. Figure 4
highlights Nordstrom’s strength whereas Figure 5 illustrates the SLEPT analysis. Related to
this, a rational decision to tap the Brazilian market can be in favour of Nordstrom corporate
brand viability in this market.
3.1. INTERNAL FACTORS
Nordstrom has a strong heritage; thus it authentically relates to and engages with
stakeholders in an ethical CSR approach. Its well-recognized brand is associated with a high
level of quality merchandise with strong brand presence in both high fashion market as well
as lower priced value market with its Rack stores. With its recent partnership with online
retailer FiftyOne Global Commerce, Nordstrom is aimed to penetrate global markets with its
high-end fashion selection. Thereof with the immense growth opportunities that abound in
Brazil, Nordstrom would benefit from entering into this new frontier. Nevertheless,
Brazil has one of the biggest upcoming markets in the fashion scene, by hosting two major
fashion events which define trends for the continent (see Appendix AP-IF-FE).
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The Integrated omni-channel stores, convenience, and innovative data driven processes
accompanied by well -trained people committed to internal brand engagement are the
benchmarks of Nordstrom brand strength which has translated into higher sales (see
Appendix AP-IF-FH) that surpassed $10 billion in 2012 despite the deterioration of
economic conditions.
Nordstrom’s competitive edge is based on its updated cutting edge fashions to stay ahead of
its rivals. And to maintain perfect merchandise mix, it has perpetual inventory system and
its liberal return policy is legendary; the brand has been highly responsive to customer
demand. While its supply chain expedites merchandise in the areas of handling highly
innovative fashion products, partnerships are also enhancing the in-store and online
experiences. Nordstrom has partnered with fast-fashion retailer TopShop to entice younger
shoppers and increase its market share.
3.2. EXTERNAL FACTORS
Brazil’s dynamic retail sector attracts an influx of major foreign retail chains particularly
luxury players. The primary force driving the current surge in the fashion market is a
Figure 4 - Company Overview
8. Nordstrom Global Marketing Plan
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healthy macroeconomic context with a pro-business government that welcomes foreign
investment as exhibited in figure 5 (see Appendix AP-EF-HM).
Brazil’s rise as an important fashion market results from a complex set of interconnected
conditions, such as a rapidly growing disposable income in middle-class (Snoad, 2012). This
is associated with increased consumption and significant migration into urban areas, where
most shopping malls are located. Moreover, about 62% of the country’s population is under
29 years of age. This favours the apparel market growth as most apparel sales come from the
younger population (Forbes, 2013). All of this represents dynamic growth opportunities for
Nordstrom’s expansion plan.
Source: A.T. Kearney, 2008 (Adapted from Vivian Yeung, 2013)
Figure 5 – SLEPT Analysis
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Aside from these shopping malls, the clothing retail industry is composed of small, local
retail companies that lack the economies of scale (see Appendix AP-EF-ES). Therefore the
majority of middle class has little choice but to buy from designers brands at a high price
point (Anaya, 2010). This leads to a golden opportunity to differentiate and position itself as
the market nicher to meet the needs of the underserved consumers.
E-commerce is on the rise as the country is the fifth largest globally in terms of digital users
(see Appendix AP-EF-EC). Such high Internet usage and participation in social media will
feature the way Nordstrom sells to and communicates with the target audience as
consumers compare products, share experiences and, more importantly, participate in the
creation of products (Global Intelligence Alliance, 2010). In this context to keep up with the
changes brought up by the post digital world, Nordstrom will embed holistic brand strategy
to fit with consumers’ needs and desires to create a seamless, branded and valued
experience (Interbrand, 2012).
4. Market Objectives
One of Nordstrom’s key corporate objectives is to strengthen its brand foothold by entering
new markets. In order to achieve this objective, Nordstrom decided to set the following
marketing objectives, by entering the Brazilian retail market, which are the ability to establish a
consistent brand globally in order to be able to develop a good base in this challenging market
as well as establishing breadth and depth of the corporate brand awareness in order to develop
a niche position with YOY growth of 5% for the next 3 years to secure long term profitability
and sustainable ROI .
5. Marketing Strategy
A Marketing Strategy will be to seize market segments and niche that competitors have
overlooked in the Brazilian market (Ganesha, 2003) – the poor scale of economies given the
relatively small size of the Brazilian market dominated by luxury department stores called
Daslu for the rich and famous (depicted Appendix AP-EF-DL) and domestic retailers with less
quality, thereof Nordstrom should lever delivering high perceived value defined by high
quality and affordable prices of its offerings for the target customers to be the market nicher
(FT, 2012).
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5.1. SEGMENTATION
To serve the right customers, Nordstrom would design customer-driven marketing
strategies to identify market segment and develop tailored market programs. In this context,
Brazilian market has carefully been segmented as illustrated in figure 6 to reveal attractive
target markets (Kotler et al, 2012). This segment will be of young, professional women
between the ages 16-35 who are highly sensitive to the latest fashion trends as exhibited in
figure 6.
Figure 6 - Major Segmentation Variables for Consumer Markets
Source: Adapted from Kotler et al (2012)
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5.2. TARGETING
After evaluating different segments, the targeted audience is customers who are members of
the emerging socioeconomic group with the robust purchasing power. To best advocate the
underlying prerequisites of targeted consumers, Nordstrom would follow a mass marketing
strategy, undifferentiated market, focusing on magazines such as Vogue Brasil and Contigo,
billboard, and newspapers.
Contrary with a look at established markets, Nordstrom would apply micromarketing
strategy that best serves to build the right relationships with the right customers (Kotler et
al, 2012).With regards to this, Nordstrom’s target customers would be grouped in three
main customer profile categories. The primary target would be the principle-orientated
customers, the innovators, while the secondary customer target is the status-orientated, the
self-treating, and last customer target is the savvy trendy one who is the experiencer (Figure
6). Drawing from Nordstrom’s customer centric approach, it would tailor its brands’
portfolio and marketing programs to suit the tastes of specific individuals and locations
(Kotler et al, 2012). As Nordstrom would be located in urban cities, the target customers
would value the latest of fast fashion trends, while individual’s preference could benefit
from aggregated usage of digital media across all its omni-channels.
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5.3. POSITIONING
The Brazilian fashion market is very fragmented thus Nordstrom will differentiate its
corporate brand by offering value proposition that fills the void in the Brazilian market for
luxury fashion forward brands at attainable prices. Nordstrom will be well positioned as
luxury affordable retailer to tap into the niche market by coveting and differentiating brand
offer to stand out against competitors. Beyond differentiating its physical product and
prices, Nordstrom would differentiate itself based on its services as of a legendry one.
Fashion degree
Avant-grade- Tendency towards Casual
Oriented design “modern, elegant chic” lifestyle
Well-
Renowned
Brands
Core
Brand
Featured
Brands
Super
Premium
Masstige -
Affordable
Accessible
Price
Figure 7 - Brand Positioning Based On Pricing Architecture
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6. Market Entry
The above descriptive marketing analysis cites lucrative opportunities for Nordstrom to enter
the Brazilian market hence the decision to open Nordstrom branded stores will underpin the
growth potential that Brazil offers. Apart from its namesake brand, Nordstrom will also offer
the newest looks from established brands as well as unique products from rising young
designers (Figure 18).
The main challenges linked to this new market entry are mainly high import charges and
seasonal differences which is a tough logistical challenge for fashion retailers. Though it can
yield into a significant opportunity to build up designated competitive advantages to expand
into countries below the equator and that correlates with Nordstrom’s corporate objective to
become a global brand. Nordstrom would limit its risks up front by going into partnership with
local company; hence it will be the strategy to follow to enter the market there (see Appendix
AP-ME-LP). The comparison is stated in Figure 8.
While our plan emphasises on what the corporate brand stands for, to tune up with its brand
image and heritage, the Brazilian cultural resonances would be reflected into the marketing mix
programme (Kotler et al, 2012). The local adaptation of globally oriented marketing will portray
Figure 8 -
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the brand values and personality in terms of local language, practices, and the merchandise
offering to satisfy the target audience and create customer delight (Hackley, 2010).
7. Market Programme
To communicate its desired position to target the defined consumers, Nordstrom’s marketing
mix efforts, which are composed of the tactical 7Ps marketing tools, should support the above
noted positioning strategy (Kotler et al, 2012). Furthermore, Nordstrom would market
effectively by fine-tuning its marketing mix into a blended integrated marketing program to
create superior customer value. Nordstrom value proposition would be addressed by offering
attractive mix of value in terms of quality clothing, fashionable styling, excellent service and
attractive décor, albeit at affordable monetary prices. Hereunder is Nordstrom’s marketing mix
that would support its positing strategy.
7.1. PRODUCT
Nordstrom would offer a unique mix of unrivalled collection of designer brands, its core
brands, and trendy fashion assortment to make high end fashion accessible. Nordstrom
brand logo, hangtag and packaging would reinforce its brand identity and name recognition
on the customer’s purchasing pattern. Nordstrom would successfully address the sensual
aesthetics of Brazilian women through all its diffusion lines to create a need-satisfying
market offering (Kotler et al, 2012).
Figure 9 - Product Assortment
Source: Pinterest
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7.2. PRICE
Nordstrom would differentiate itself by being an affordable luxury upscale retailer by
leveraging the marketing mix, design and communication of its products in order to be
included in the masstige(1) pricing strategy to appeal to the target audience. As suggested
by Kotler et al (2012), psychological pricing is an important element to encounter because
Brazilian consumers expect that the higher the price, the better the quality is therefore the
implied premium pricing is applied (Standard, 2012)(see Appendix AP-ME-PP).
Furthermore, as noted in Figure 7, this pricing structure presents elasticity by applying
masstige to gain competitive advantage where is the gap in the Brazilian market for high
branded products with affordable prices (see Appendix AP-ME-MG). The fact that
Nordstrom would fit to all target audience’s needs would engender growth and create
loyalty.
Rather than only offering a single price point, Nordstrom would be able to be consistently
relevant to customers by the broad range of choices available that would underpin
affordability in the pricing strategy and adaptation to the variations in target audience
demands to deliver on its corporate brand promise.
Moreover, Nordstrom would be able to apply promotional pricing without the need to use
deep discounts as its prices are already competitive. The promotional pricing would be
adopted to stimulate customer traffic where the Brazilian market is heavily biased towards
discounts. Nordstrom’s price point would vary– from R$250 a bag to R$1,250 -plus pair of
Jimmy Choo boots.
7.3. PROMOTION
To optimize CRM and market share, after designing a cohesive mix of the other 7Ps,
Nordstrom at this stage would communicate the value proposition that is created from this
mix to its target consumers to persuade them to act on the market offering (Kotler et al,
2012). With focusing aggressively early at this stage on all channels whereby above and
under the line promotions to expand its reach to existing fans and new customers.
1 Masstige products are defined as "premium but attainable," and there are two key tenets: (1) They are
considered luxury or premium products and (2) They have price points that fill the gap between mid-market and
super premium (Wikipedia, 2013).
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In the light of the notable emerge of digital media, Nordstrom would capitalise on this
through its implication of eCRM to treat customers as individuals with a fully commitment
to seamless engagement whether in stores or via the web therefore enhancing Nordstrom
brand experience and providing high perceived value to customers (Kotler et al, 2012).
7.4. PLACE
Nordstrom will open four female full-sized stores, in urban cities in the most upmarket
shopping malls where stores generate the highest sales per square foot to fully reach out to
its affluence target market. To raise awareness of its stores, it would seek to modernise its
stores through the use of large format photography as well as innovative product
presentation with more tantalising and eye-catching fixtures, and a well-designed free-form
layout. Furthermore, Nordstrom would define store space by lifestyle sections. This
approach makes it easier for shoppers to put together outfits to deliver a compelling
customer proposition. The stores would be sustainable in the long term through energy-
saving initiatives and environmentally adapted materials. To integrate all selling channels,
Nordstrom would introduce complimentary Wi-Fi in its stores to allow customers to browse
and buy products via IOS (iPhone/iPad) platform in its brick and mortar stores as well as
online site.
(Source: Google)
Figure 10 - Store Locations in Upmarket Shopping Mall
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7.5. Physical Evidence:
The grand opening of each of the stores with extensive promoting for it in all media related
would send messages that Nordstrom has arrived into the Brazilian market and would open
its doors on the scheduled openings. Also the ornate displays will aim to showcase the
newest apparel the stores have on sale whereas mannequins dressed in new apparel, brand
posters are devised. In the latter after the opening, people with experiences of the
merchandise will dedicate their testimonies.
7.6. PEOPLE
As part of the CSR, internal communications is the foundation for broadcasting brand
values to help capture a loyal customer base, while the promotion mix paves the way for
dialogue with customers to interpret their needs to main suppliers. Hence there would be a
dynamic interface between all stakeholders to capture value across the board.
Leveraging brand DNA needs to be through aligned internal workings and structures;
hence managers will be creating, maintaining, and supporting the corporate service culture,
where outstanding acts of customer service will be rewarded. This strand will stem from the
cohesive culture reinforcing brand values.
(Source: Google)
Figure 11 - Physical Evidence - Mannequins
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7.7. PROCESS
Service with a smile would a pivotal part of Nordstrom's brand essence. The salespeople,
with their elegant dress code, would go above and beyond in their duties. Hence, sales
associates on the floor will be empowered like entrepreneurs, given tools like well-stocked
stores, digital customer profiles, and thank-you notes to keep track of and service individual
customers in the interest of long term relationships. Furthermore, there will be a
complimentary pianist playing music in the store, which adds to the affluent ambiance of
the Nordstrom shopping experience.
Figure 12 – Process environment
(Source: Nordstrom)
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8. Integrated Marketing Communication
To sustain strong brand position, IMC has to achieve and maintain the brand equation in Figure
13 through the internal and external brand activities as depicted below.
8.1. INTERNAL BRANDING
External recognition of Nordstrom’s brand would start internally with a consistent
and interrelated message through innovative channels about what the brand
identity. This is based on shared attributes among the employees in all interfaces
with the target audience. They would be the cornerstone in building the right
image and in communicating a compelling value proposition to the customers,
with commitment to design the want-satisfying offering. This commitment is
endowing the brand’s credibility (Figure 16).
This approach would reflect Nordstrom positioning and grow the equity of its
brand, not devalue it (Cullather, 2012).
8.2. EXTERNAL BRANDING
The dynamic brand strategy will provide both exclusivity and flexibility to meet or even
exceed the expectations of these potential customers to retain future customers and acquire
(Source: UWL, The Blue Book)
Tangible and intangible benefits
Total costs of ownership
Brand value = Benefit received by customers
Costs to the customer of brand purchase
Figure 13 – Brand Value Equation
20. Nordstrom Global Marketing Plan
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Nordstrom Group
Core Brands
International
High-end
Brands
Featured
Designers
potential ones. This is suggested in the following diagram (Figure 14) which is a visual
structure of Nordstrom’s brand umbrella strategy.
Through deploying click and mortar stores, communication channels will penetrate the
market place with this strong brand offering.
9. Monitor and Control
Nordstrom will set up an effective system for obtaining feedback and controlling the marketing
efforts, this will involve both primary and secondary market research by holding well
moderated focus groups, and conducting web based surveys (Dhruv et al, 2007) to evaluate the
actual activities’ performance and take corrective actions where needed(Isobel, 2008).
10.Budget
Monetary resources will be allocated to the marketing plan as outlined in the projected budget
in table 1. The strand is to optimise the usage of these resources as a result of efficient upfront
planning, communications and on-going monitoring. To monitor against any adverse actions,
there will be 2% of the budget reserved to execute any contingency plan needed.
Figure 14 - Brand Umbrella Strategy
21. Nordstrom Global Marketing Plan
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Market
Penetration
Product
Development
Market
Development
Diversification
11.Recommendation
The above annotated marketing plan to open Nordstrom branded stores in Brazil - the giant of
the Southern Hemisphere - will help take advantage of its untapped market potential.
In sign of the booming Brazilian fashion scene, Nordstrom will benefit from extending its reach
southward, new market development approach (Figure 15), by opening four stores between
2013 and 2016– in most lucrative urban shopping malls - one apiece in Sao Paulo in summer
season of December 2013, to be followed by Rio de Janeiro, Brasilia, and Salvador.
Getting started by employing a healthy holistic marketing strategy shaped by tying
up between its partners (Figure 16), Nordstrom’s employees as referred earlier in the
7Ps, are perceived as a business partner leading to a lasting partner relationship with
the final partner who is the Brazilian customers .
Long-term quality and diversity of brands will lie at the heart of the expansion
strategy; this will be Nordstrom’s brand USP. Henceforth, the core strength of the
promotion strategy would underlie getting the target audients’ attention at the right
place and the right time through a message that will resonate the brand’s USP in
their mind. Living up to the brand promise, would breed loyalty, consistent
engagement and recommendations.
Exiting New
NewExiting
Market
Products
Figure 15 - Ansoff Matrix
(Source: Adapted from Kotler et al, 2009)
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Customer-CentricityEngagement B&C
Feedback
Internal Marketing
Want-Satisfying offering Products
CommitmentROI
B&B
Customers
Sales and Support People
Department Manager
Suppliers, Distributors,
Regional Managers
Board of
Directors
CaptureValueinReturn
(Corporate-Marketing
Objectives–
CaptureValue
Proposition
Figure 16 - Holistic Communication Strategy across brick and mortar synergies
23. Nordstrom Global Marketing Plan
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Prior to the opening of the stores, Nordstrom Brasil will go aggressively on popular
Brazilian digital media. It will start by getting into affiliate marketing; this
concentrated exposure will help building the brand awareness and address target
audience (Figure 17). This approach will be customised in all aspects of engagement
with customers. Another implication in other blogs is to use a pictorial questionnaire
to build up the profile of a potential customer who chooses her colour and style
preferences from pictures of fashion items and celebrities. Then, she will receive a
personalised shopping list (Forbes, 2013).
The grand opening will be promoted by one of the local young popular celebrities.
The advertising campaign will feature a Carnival-inspired celebration with fashion,
tying it to local and cultural events. While the theme is in vibrant colourful branded
collection with the influence of Brazilian Havaianas, the digital media will correlate
to this campaign by offering interactive events such as a prize to choose the best send
local designs to be part of Nordstrom’s collection.
There will be implementation of reward programmes to retain the customers as well
as other sales promotions. Furthermore, it will snap up promising Internet ventures
to diversify to be resent in new retail platforms. The social media strategy will extend
well beyond Facebook, Twitter, and YouTube’s Brazilian domain to an array of buzz-
generating fashion and photo-sharing sites like Pinterest.
Leading up to, during and in between the 2014 Football World Cup and the 2016
Summer Olympics, Nordstrom’s advertising campaigns will take place
heavily. While the opening of the first store in Sao Rio in summer 2013 (Dec-March)
•Marketing
communication
mix
Awareness
•Appealing
product
offering
Interest
•Incentives to
act and buy -
promotion mix
Desire
•Purchase
•Creating sales
Action
(Source: Adapted from Kotler et al, 2009)
Figure 17 - AIDA Model
24. Nordstrom Global Marketing Plan
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will build customer base before the events. Thus PR initiatives will strike a chord
with football fans around the world. The decision to bolster its expansion in light of
these events will increase its chances of building a worldwide awareness and
recognition for its brand and gain insight B&B opportunities by tailoring the events
costumes and supply other merchandise.
The use of PR, advertising, social media and sponsorship will build brand awareness
while personal selling, sales promotion and merchandising will draw consumer
interest. In other words, advertising will effectively instil a degree of urgency in the
target market, while the latter will establish the desire to purchase the product, with
a push for the sales (Figure 17).
Nordstrom’s savvy customer service will set it apart from contending stores, the
emphasise will be on creating innovative ways to be at the customer’s fingertips, by
launching online website in Portuguese language with new apps that makes it easy to
shop anywhere. In store, the innovation should not stop, though having the best of
all in modernised brick and mortar stores to increase product rate of sale. Therefore
with the compelling merchandise and unyielding commitment to customer service,
Nordstrom will be the retailer that customers trust. On the other hand there must be
a balance to not undermine the image of the brand by having all the digital
experience focuses on discounts. The digital platform will be seen as central to the
brand building activities and will have a role to play in reinforcing the whole pricing
strategy, not just communicating discounts (Interbrand, 2012).
The Nordstrom supply chain must have the ability to respond to a wide range of
quantities, meet short lead times, while the management has to adapt to the projected
lifecycle of the product, with actions required as explained in Figure 18.
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Since Nordstrom’s entry success into Brazil depends on consumers purchasing its
products, it would appreciate the importance of establishing trust and loyalty with
its customers and employees. Nordstrom would create a CSR program to promote its
affiliation with the Brazilian environment and concentrate on: Supporting
Communities, Sustaining the Environment, Protecting Human Rights and Caring for
its People.
However, by entering into Brazil market, it will have to guard against competitors,
though building strong relationships with customers, suppliers and other
stakeholders should help thwart competitors. As of the uncertainty of future a
contingency plan will be needed, hence there will be a view to open off-price store or
Sales
Time
(1)
B C
D
A
(2)
(3)Portfolio (A – well-renowned
Brands) is at Maturity stage –
cash cow. Generates fund for the
development of Portfolio (D-
New Line)
Cash from Portfolio (B – Featured
Brands) through Exclusivity, will be
used to support Portfolio (C- Core
Brands) Portfolio –A now possibly a
dog due to new entrants?
Cash from Portfolio (C-
Core Brands) will be used
to support growth of
Portfolio (D- New Line)
and possibly finance
extension strategy for B?
Figure 18 - Product Life Cycle and The Boston Matrix
26. Nordstrom Global Marketing Plan
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even to launch a new line designer in order not to damage the brand equity while
looking for other solutions like a merge.
12. Conclusion
The expansion plan in Brazil is feasible, recommended and will strategically facilitate future
expansion to new markets in the Latin American region. As Nordstrom Brazil will become the
hub for the Latin American region, this entry is just the beginning.
To make the best use of Nordstrom’s resources by focusing on potential consumers that can
best serve through customised marketing programme, Nordstrom will build value-laden
customer relationships for her who will capture high perceived value and for Nordstrom which
will reap augmented value in the form of ROI. This well planned integration between
marketing mix elements would transform the marketing strategy into real value for both. Thus,
beyond practicing good CRM, Nordstrom must also practice good partner relationship
management with the customers (Kotler et al, 2012).
Finally, Nordstrom will then integrate its communication efforts to broadcast this value
proposition to target consumers and persuade them to act on the market offering. This is the
route to success of Nordstrom’s expansion plan in the Brazilian market positioning itself as a
niche retailer with the potential to accelerate the 5% market share of the plan objectives.
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13. Acronyms
ACRONYM MEANING
CLV CUSTOMER LIFETIME VALUE
CRM CUSTOMER RELATIONSHIP MANAGEMENT
CSR CORPORATE SOCIAL RELATIONSHIP
IMC INTEGRATED MARKETING COMMUNICATION
ROI RETURN ON INVESTMENT
SLEPT SOCIAL, LEGAL, POLITICAL, TECHNOLOGY
SWOT STRENGTH, WEAKNESS, OPPORTUNITIES, THREATS
USP UNIQUE SELLING POINT
YOY YEAR ON YEAR
28. Nordstrom Global Marketing Plan
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