Marketing Managment

In: Business and Management

Submitted By Myammahi
Words 371
Pages 2
Set of tires originally bought at Northern Commercial. Although Nordstrom has never carried or sold tires, it happily accepted the return and instantly provided the customer cash for his purchase. While Nordstrom’s “no questions asked” return policy remains intact today, there are many other examples of its exceptional customer service. Its sales representatives send thank you cards to customers who shop there and have hand delivered special orders to customers’ homes. Nordstrom installed a tool called Personal Book at its registers that allow salespeople to enter and recall customers’ specific preferences in order to better personalize their shopping experiences. Nordstrom also provides customers with multichannel for shopping, allowing them to buy something online and pick it up at a store within an hour. Nordstrom’s customer loyalty program, fashion rewards program, rewards customers on four different levels based on their annual spending. Customers who spend $10,000 annually receive complimentary alterations, free shipping, a 24- hour fashion emergency hotline, and access to a personal concierge service. Customers at the highest rewards level $20,000 spent annually also receive private shopping trips complete with prestocked dressing rooms in the customers’ specific size, champagne, and piano music; tickets to Nordstrom’s runway fashion shows; and access to exclusive travel and fashion packages, including red carpet events. This strategic and often costly customer-focus approach has reaped great benefits for the company. Not only has Nordstrom emerged over the past 100 + years but customers stay loyal even in hard times. During the economic crisis in 2008 and 2009, many customers chose to shop at Nordstrom over its competitors due to their existing relationship and hassle-free return policy. Nordstrom currently operates 112 full-line stores, 69 Nordstrom Rack…...

Similar Documents

Managment

...Title Page (a) Title of submission (ii) Theme area : CRM and 4 P’s of Marketing. : Customer relation ship Management = CRM and 4 P’s. (iii) Name of the author : Prof R Ramakrishnan : Head, Department of Management Studies Muthayammal Engineering College, Rasipuram 637408 (iv) Designation with Department (v) Mailing address: College: Residence: Suri Illam, 10A Swami Sivananda Salai, Rasipuram 637408 (vi) E-mail address (vii) Phone number(s) : ramakrish54@gmail.com College: 04287-220837 and 226837 Residence: 04287-225837 Mobile : +919952669656 : 04287- 226537 (viii) Fax number Presented by me at the National Seminar On Customer Relationship Management Organized by M.O.P. Vaishnav College for Women (Autonomous) Chennai-34. On 25th February 2006 1 of 10 Electronic copy available at: http://ssrn.com/abstract=1751648 Abstract = CRM and 4 P’s of Marketing The concept of CRM has evolved over a period of time through a sequence of initiatives, which have been directed towards improving business performance. In today's highly competitive business world CRM can be considered as the ultimate solution for both customers as well as organizations. CRM considers customers not as outsiders but as insiders to the business and aims to build a long-term relationship with them. A high degree of customer contact, commitment and services are therefore essential features of CRM CRM is an on-going process of identifying and creating new value with......

Words: 2674 - Pages: 11

Blackberry Z10 Marketing Managment

...Name : Nilofer Sumra Student ID – 20121566 Class – 119 Marketing Management Individual Assignment 4.705 Question: 1 The biggest task for any of Blackberry in today’s era is to implement the effective marketing strategy with the endorsement of accurate marketing mix. Through initiatives & marketing strategies company attempts to capture maximum returns - this entire practice refers to value based marketing. Here Blackberry is in consistent effort to create a strong brand which influences consumers to give constructive feedback. Value based marketing starts with escalating correlation of sales and marketing. One of the core concepts of Marketing is Holistic Marketing concept, where everything matters in marketing is acknowledged. Wider and incorporated outlook is essential for the developing, implementing and designing marketing strategies for Blackberry. For RIM it’s inevitable to see the challenges from brand’s viewpoint but it’s not complete without considering consumer’s perspective. Once the market’s needs have changed, Blackberry should shift with it. [pic] • The complex market of phone industry forces Blackberry to deliver variety of differentiated products with fast pace in global market. All products should be distinguished with each other with the means of functionality and should be able to engage customer with unbeatable features and designs. Here......

Words: 2568 - Pages: 11

Marketing Managment

...strategy: [Do you have a particular pricing strategy? Why have you chosen this strategy?] Value to customer: [How do your customers view your products/services? Are they a necessity, luxury or something in between?] Growth potential: [What is the anticipated percentage growth of the product in the future? What will drive this growth?] Innovation Research & development (R&D)/innovation activities [What R&D activities will you implement to encourage innovation in your business? What financial and/or staff resources will you allocate?] Intellectual property strategy [How do you plan to protect your innovations? List any current trade marks, patents, designs you have registered. Do you have confidentiality agreements in place?] The Marketing plan Market research [What statistical research have you completed to help you analyse your market? Did you use a survey/questionnaire? If so, you may like to attach a copy of your survey/questionnaire to the back of this plan.] Market targets [Outline your planned sales targets. What quantity of your products/services do you plan to sell in a planned timeframe? Are they monthly or yearly targets?] Environmental/industry analysis [Detail the results of the market research you have performed. Is the area experiencing population growth? Are there long-term employers in the area? Is the region's economy stable? Are there seasonal variations? What is the size of the market? What recent trends have emerged in the market? What......

Words: 2413 - Pages: 10

Global Marketing Managment

...Examination Paper of Marketing Management IIBM Institute of Business Management Examination Paper International Marketing Management Section A: Objective Type (30 marks) MM.100    This section consists of Multiple choice questions & Short Answer type questions. Answer all the questions. Part One questions carry 1 mark each & Part Two questions carry 5 marks each. Part One: Multiple choices: 1. International marketing includes activities that direct the flow of goods from a. One country to one country b. One country to another country c. One country to multiple country d. All of the above 2. ETC stands for a. Expert trading companies b. Essential trading companies c. Export trading companies d. None of the above 3. Till 1950-56 there was no clear exim policy and no _________ restrictions of any kind a. Import b. Export c. Both a) & b) d. None of the above 4. Tariffs have been one of the classical methods of regulating ________ trade a. International b. National c. Domestic d. None of the above 5. The world trade organization (WTO) was established on 1st January a. 1996 b. 1995 c. 1997 d. None of the above IIBM Institute of Business Management 1 Examination Paper of Marketing Management 6. Export documentation is a very important area in _______ management a. International b. Import c. Export d. None of the above 7. Methods of export pricing are a. Cost plus pricing b. Competitive pricing c. Marginal pricing d. All of the above 8. OCED has been a......

Words: 3036 - Pages: 13

Strategic Marketing Managment

...STRATEGIC MARKETING MANAGMENT BUSI 520 TASK: Individual Submission Week 3 CULTURAL FACTORS DEFINED Cultural factors have a major influence in what merchandise consumers purchases. In order to understand this clearer, one needs to take a closer look at the definition of culture. According to Kotler and Keller (2012), “Culture is the fundamental determinant of a person’s wants and behavior”. In other words, culture is the deciding factor that guides the choices of the consumer. One product which many consumers purchase is the iPad. Sales, of this advanced version of a tablet computer, are steadily increasing. According to Bray, Palazzolo and Sherr from (2013), the iPhone and iPad are in fact the two top selling products of the Apple company. The iPad, just before its unveiling, was surrounded by so much enthusiasm. As stated by Furfie(2010), “The Wall Street Journal joked that ‘the last time there was this much excitement about a tablet, it had some commandments written on it’”. As funny as this may sound, other tablets don’t come close to competing with this product. The iPad has a stake in our culture and it is here to stay! An astute observer may ask, why do so many consumers gravitate towards iPad as opposed to another similar product in the marketplace today? Furthermore, the enthusiasm and general demand for the iPad seems to overshadow the competitor’s products. Kotler and Keller conclude that the geographic region has a direct influence on the products......

Words: 743 - Pages: 3

Marketing Managment for Retail Pharmacy

...the total headcount to 6 people. The pharmacy also engages a part time marketing manager, to do marketing and sales activities. 2. 0 Marketing Sales Department As in the retail market, the pharmacist herself and the other shop assistants are responsible in serving the customers and selling to the walk-in customers. The pharmacy also collaborates with health supplement suppliers who provide sales assistant to help pushing sales in the shop on weekly rotation basis. In order to draw more customers traffic to the pharmacy, a marketing department is set up to deal with companies as the pharmacies are trying to develop corporate clients as well. The marketing department would try to engage factories to have promotional booth to have a health campaign to reach out to more customers and to advertise the pharmacy presence. Such health campaign does not require the pharmacy to pay any cost for the booth, but the pharmacy shall need to deploy shop assistants and sales assistant from health supplement brands to conduct the promotion activity. 3.0 Retail/Marketing Issue: Poor Marketing Return of Investment on Marketing Efforts After running for about 5 years, Healthworld Pharmacy has observed that there is a plateau in terms of customer growth, which was implicated by the number of transactions each day, total revenue per month and value per transaction. Despite several attempts in conducting various marketing efforts, the retail business does not seem to improved......

Words: 2665 - Pages: 11

Marketing Managment

...BUS-530 Marketing Management (Module 1) Date: 01/04/2011 Muhammad Naeem Sarwar MBA Information Management Module 1: 1) Understanding Marketing Management a) Define the term supply chain. b) What is the task environment? c) What is meant by holistic marketing? d) What is the Product Market Expansion Grid? e) Explain the differences between a strategic marketing plan and a tactical marketing plan. f) Define Market Opportunity Analysis (MOA). A. Define the term supply chain. Supply chain management can be defined as the process of planning, implementing and monitoring the everyday operations of a supply chain Supply chain management is an all encompassing process as it undertakes the management of availability of raw materials, their processing into finished goods and the distributions of the same. The aim of all this is to provide the highest level of satisfaction to the customer and thus increase the business of the company. And with the increasing complexity of the supply chain, supply chain management has also become about coordinating and collaborating with the different trade partners now involved in the supply chain. Supply chain management decisions are made on three different levels- the tactical, strategic and operational levels. Strategic level involves long term decisions while tactical level includes medium term decisions while operational level is concerned with very short term......

Words: 3085 - Pages: 13

Marketing Managment Solutions for Chapter 2 Q1-3

...Strategic Marketing Problems Cases and Comments V11. Chapter 2 1a) Contribution per CD unit = Unit Selling Price – Unit Variable Cost = $9.00 – ($1.25 + $0.35 + $1.00) = $6.40 b) Break-even volume in CD units Total Fixed Costs = $275,000 + $250,000 = $525,000 Unit Break-even Volume = Total Fixed Costs/Contribution per unit = $525,000 - $6.40 = 82,031.25units Break-even volume in dollars Contribution Margin = (Unit selling price – unit variable cost) / unit selling price = ($9.00 – $2.60) / $9.00 = 0.7111 = 71.111% Break-even Dollar Volume = Total Fixed Costs / Contribution Margin = $525,000 / 0.7111 = $738,282.40 c) Net profit if 1 million CDs are sold = Total Contribution – Total Fixed Costs = ($6.40 X 1,000,000) - $525,000 = $6,400,000 - $525,000 = 5,875,000 d) Necessary CD unit volume to achieve a $200,000 profit = (Total Dollar Fixed Costs + Dollar Profit Goal) / Contribution Per Unit = ($525,000 + $200,000) / $6.40 = $725,000 /$6.40 = 113,281.25 2a) VCI’s Unit contribution = $20.00 – [(4000/1000) + (500/1000) + (500/1000) = $20.00 – ($4.00 + $0.50 + 0.50) = $20.00 - $5.00 = $15.00 Contribution margin = ($20.00 - $5.00) / $20.00 = $0.75 b) Break-even point in units Total Fixed Costs = $150,000 + $125,000 + $5,000 + $10,000 + $35,000 = $325,000 Unit Break-even Volume = $325,000 / $15.00 = $21,666,67 Break-even point in dollars = $325,000 / $0.75 = $433,333.33 c) Share of the market would the film have to achieve to earn a 20% return on......

Words: 633 - Pages: 3

Test Bank Marketing Managment by Philip Kotler

...in interpreting a firm's policies, they are not always involved in creating policies. Choices A, B, D, and E are duties of some but not all line managers, but all line managers work directly with personnel. Diff: 2 Page Ref: 6-7 Chapter: 1 Objective: 3 Skill: Concept 20) A line manager's human resource responsibilities most likely include all of the following EXCEPT ________. A) maintaining department morale B) training employees in new positions C) controlling labor costs D) protecting employees' health E) marketing new products and services Answer: E Explanation: Human resource management most often involves creating and maintaining department morale, training employees for jobs that are new to them, controlling labor costs, and protecting employees' health and physical condition. Handling personnel is an integral part of every line manager's duties, but marketing new products is not a personnel issue and would be handled by the marketing department. Diff: 2 Page Ref: 7 Chapter: 1 Objective: 3 Skill: Concept 21) Which of the following refers to the authority exerted by an HR manager as coordinator of personnel activities? A) staff authority B) line authority C) functional authority D) corporate authority E) embedded authority Answer: C Explanation: Functional authority refers to the authority exerted by an HR manager as coordinator of personnel activities. An HR manager ensures that line managers are implementing the firm's HR policies......

Words: 11787 - Pages: 48

Global Marketing Managment

...Examination Paper of International Business Management IIBM Institute of Business Management Examination Paper MM.100 International Business Management Section A: Objective Type & Short Questions (30 Marks)    This section consists of Multiple choice and Short Note type questions Answer all the questions. Part One carries 1 mark each and Part Two carries 5 marks each. Part One: Multiple choices: 1. What is the series consideration for strategy implementation? a. Strategic orientation b. Location c. Dimensions d. Both (a) & (b) 2. The major activity in global marketing is: a. Pricing policies b. Product lines c. Market assessment d. All of the above 3. The third „P‟ in the international marketing mix is: a. Product b. Price c. Promotion d. Place 4. The European Economic Community was established in____________ a. 1958 b. 1975 c. 1967 d. 1957 5. Environment Protection Act on______________ a. 1986 b. 1967 c. 1990 d. None of the above 6. People‟s attitude toward time depend on: a. Language b. Relationship c. Culture 1 IIBM Institute of Business Management Examination Paper of International Business Management d. All of the above 7. Culture necessitates adaption of : a. Product b. Price c. Promotion d. Place 8. The legal term for brand is: a. Symbol b. Name c. Trade mark d. All of the above 9. FDI flows are often a reflection of rivalry among firms in____________ a. Global market b. Indian market c.......

Words: 2033 - Pages: 9

Marketing Managment

...of Business Management Marketing Management www.iibmindia.in Subject: MARKETING MANAGEMENT Credits: 4 SYLLABUS Concepts of Marketing Management: Definition and Concepts: Definitions of Marketing, Scope of Marketing; Core Marketing Concepts: Concept of Demand and Supply; Transaction; Major Marketing Management Philosophy; Social Marketing Marketing Environment - Internal & External Marketing Environment Forces; Macro Environment; Micro and Internal Environment; Factors Influencing Consumer Buyer Behavior; Buyer Decision Process; Inputs for Buying Decision Process; Consumer Trends; Market Segmentation Process. Developing Market Strategies and the Offerings Part –I Positioning and Differentiation: Concept, Positioning according to Ries and Trout, Various Tools of Differentiation; Product Decisions and Strategies; Product Mix; Product Life Cycle; Brand Positioning; Brand Identity; Equity and Packaging. Developing Market Strategies and the Offerings - Part II: Introduction to Service Marketing; Differentiating Services; Product and Service Price; Response to Change in Price; Pricing Strategies. Delivering Marketing Programs – Part I Marketing through Channel Partners; Wholesalers and Retailers: Current Trend; Channel Management. Delivering Marketing Programs – Part II Market Communication, Process for Effective Communication; Advertising; Different Advertising Media; Sales Promotion; Public Relations; Direct Marketing; Personal Selling:......

Words: 96487 - Pages: 386

Marketing Managment

...of Business Management Marketing Management www.iibmindia.in Subject: MARKETING MANAGEMENT Credits: 4 SYLLABUS Concepts of Marketing Management: Definition and Concepts: Definitions of Marketing, Scope of Marketing; Core Marketing Concepts: Concept of Demand and Supply; Transaction; Major Marketing Management Philosophy; Social Marketing Marketing Environment - Internal & External Marketing Environment Forces; Macro Environment; Micro and Internal Environment; Factors Influencing Consumer Buyer Behavior; Buyer Decision Process; Inputs for Buying Decision Process; Consumer Trends; Market Segmentation Process. Developing Market Strategies and the Offerings Part –I Positioning and Differentiation: Concept, Positioning according to Ries and Trout, Various Tools of Differentiation; Product Decisions and Strategies; Product Mix; Product Life Cycle; Brand Positioning; Brand Identity; Equity and Packaging. Developing Market Strategies and the Offerings - Part II: Introduction to Service Marketing; Differentiating Services; Product and Service Price; Response to Change in Price; Pricing Strategies. Delivering Marketing Programs – Part I Marketing through Channel Partners; Wholesalers and Retailers: Current Trend; Channel Management. Delivering Marketing Programs – Part II Market Communication, Process for Effective Communication; Advertising; Different Advertising Media; Sales Promotion; Public Relations; Direct Marketing; Personal Selling:......

Words: 96487 - Pages: 386

Marketing Managment

...Marketing Management Heather Fullen Aspen University: BUS530 December 7, 2015 Syllabus and Textbook Reflection I started this assignment first by reviewing the course syllabus and skimming the topics covered in the textbook. I also reviewed the table of contents and briefly glanced through the rest of the text book required for this course. Syllabus After reading and reviewing the course syllabus for BUS-530 Marketing Management, I am looking forward to what this course is going to offer and teach me as well as being able to apply it to my current and future professional goals. I believe this course will provide a substantial introduction to basic marketing functions that will be advantageous to my degree and career goals. There is a lot of information to cover in just 10 weeks, but the knowledge I gain and learn will become the foundation for my personal and professional career. Textbook The required text book for this course, Marketing Management, has important, helpful and a significant amount of information to lead the way of becoming successful in marketing management. The textbook appears to be set up in a way that will be helpful for students such as myself to learn different marketing theories. Concepts and theories can be difficult to use and how to apply them in real life professional experiences. Topics of Most Interest While reading and skimming through the textbook, I found several of the topics to be of interest to me. Most of the chapters......

Words: 1184 - Pages: 5

Managment

...Mission, Vision, Values, & Managment In today's post-recession workforce, gaining employment is so difficult that once hired, life has new meaning. The mission, vision, and values may mean different things to managers. With a closer look into an organization, from the newest employees up to the experienced senior management, it is found that many of the staff members do not have knowledge enough to recall the mission and vision statement. The military is used as an example, setting the standard for other public and private entities. In this case, let's examine a human resources unit in the United States Air Force. The Air Force Civilian Services mission and vision statement aim to "provide elite administrative, operation and technical support for the Air Force vision; Global vigilance, reach, and power" ('Our Mission & Vision', 2016). The mission and vision statement must work together to meet the organizational goals. In examining the core competencies, one must consider the true definition and rationale. Also, the Air Force has a set of strategic goals that determine the long-range direction of the organization. The attitudes, behaviors and goals of each Air Force civilian in the group are meant to demonstrate alignment with the vision, mission, values, and competencies. For a company to manifest values and a culture that leads to success, these vital mantras must be reiterated, exercised, memorized, and done by all employees. Mission Statment There is a......

Words: 1493 - Pages: 6

Marketing Managment

...of the company was well planned, even if the company is priced at a premium from B&D; some of the products are priced at a much lower price than the price charged by the company in its home country. The biggest question posed in from of the company is that how the company is a foreign country is able to offer goods at a lower price than B&D to which US is its own nation. The company also faces tough competition from the company Skil due to its strong particular product strengths for example saws. 1.3 Proposal of Alternatives After assessing its products on the scales of brand awareness, relative perceived quality, and ratings on specific attributes and getting affirmative answers to that, Joseph Galli, the vice president of sales and marketing for Power tools division has three options available with him: Option1: Option 1 says the company to focus on the other two segments of the power tools division: the consumer and the Professional Industrial segments and for the Tradesmen segment, the company should focus only on profitability and not on the market share. Option 2: Option says to sub brand the Professional –Tradesmen segment which was successful earlier in the Spacemaker line and Galli had used it earlier also for the Accessories segment. This option will include transition from “Black and Decker” brand to “Piranha”. The company has earlier introduced the Sawcat and Super Sawcat saws and attained some success. Option3: In this option, instead of......

Words: 1953 - Pages: 8