Waysthat Nordstrom can continue to offer exceptional services to itscustomers.
Itis evident that Nordstrom has done exceptionally in its effort to wincustomer loyalty and consolidate a customer base that has proved tobe of a lifetime. However, besides the efforts made by the company,there are a few other measures that the company can put in place toextend its exceptional services to customers. To start with, thecompany may consider developing a strategy for customer feedback.More often than not, dissatisfied customers will not express theirdisappointment, but may choose to seek alternatives. The companyshould always seek feedback from customers on the quality of theirproducts and services. The company can also offer guarantee to itsproducts. This will create confidence in new and old customers. Inaddition, the company should engage in promotions and advertisementsin order to enlighten and attract new customers (Spector& McCarthy, 2009).It is imperative to note that there cannot be an enough number ofcustomers and therefore the company must be on the look out to informcustomers on the quality of their products. Lastly, the company canenhance its customer service delivery by providing free samples toits customers. For instance, customers with children can be surprisedwhen the company offers cheap toys to their children.
Nordstrom’sgreatest risks and competitors
Beingthe leading brand store for shoes, clothes, jewelries andaccessories, it is evident that the store will face various risks andcompetition from the numerous upcoming retail stores dealing withsimilar products (Tode, 2007). The greatest risk that the store facesis its concentration on customers and hence forgetting the products.It is evident that the world is dynamic and customer preferencesmight be changing. The store’s lack of product flexibility andprice reduction poses a great risk to the company. Other upcomingstores may offer a wider range of products at relatively lower priceshence posing a risk to the famous store. It is therefore evident thatthe greatest risk to the company is the increasing number of retailshops offering similar products. Owing to the huge profits that thestore has been able to accrue over the years, there has been a seriesof stores which have come up offering similar products. These stores,which offer a wide variety of products at cheaper prices, are thegreatest competitors for Nordstrom. The competitors have also engagedin numerous efforts to advertise their products and this may pose agreat form of competition (Spector& McCarthy, 2009).In addition, retail stores may offer free samples to their customersand this may pose a great competition strategy.
Whatdoes Disney do to connect with its core customers?
Thesuccess that Disney has recorded over the years has been largelyattributed to its connection with its customers. The managers of thecompany have realized that it is imperative to create loyalcustomers. The company has devised ways to connect and interact withthe customers (Siklosc,2008).For instance, the company has largely invested in the internet andhas ensured that they use the latest technology to interact andconnect with the customers. The company has an active website thatprovides information to customers in regard to various aspects of thecompany. This may include theme park experiences, movie trailers andtelevision networks. It is also evident that the company has pleasedits customers through a multifaceted approach in the entertainmentsector. The company has ensured that it has kept up with thetechnological development and has offered products and services thatthe market demands (Bodden, 2009). It is also critical to point outthat the company communicates to the customers frequently throughtelevision podcasts on the development of new products as well as theinterviews with employees. The wide range of products which thecompany offers is also used as an avenue to connect with theconsumers. This multifaceted approach to the entertainment marketensured that the company had connection with all levels of itscustomers such as children, women and other adults.
Risksand benefits of expanding Disney in new ways
Theexpansion of the Disney company yin new ways is a positive thing forthe company. However, besides the expected increased number ofcustomers and profits, the company also engages in a number of riskswhen expanding in new ways. The expansion may enter into new fieldswhere there is fierce competition. As a consequence, this may resultin dwindling profits for the company and may prove costly. It is alsoevident that indulging into new ways carries with it the risk offinding new customers who will remain loyal to the company. It isalso vital to note that the expansion may come along with newproduction costs depending on the location of the expansion.Therefore, even as Disney seeks to expand in new ways, it mustconsider the risks that might be involved. Although there are a fewrisks involved, the expansions that Disney has conducted such as thetelevision network and the parks have proved extremely successful(Bodden, 2009). As a result, the company should focus on the benefitsthat it will accrue from the expansion. It is imminent that companywill increase its profits and customer base through the expansion.
Bodden,V. (2009). Thestory of Disney.Mankato, MN: Creative Education.
Spector,R., & McCarthy, P. D. (2009). TheNordstrom way: The inside story of America`s Ä1 customer servicecompany.New York: John Wiley.
Tode,C. (2007). Nordstromloyalty program experience.Annual reports.
Siklosc,R. (2008). The iger difference. Fortune.