Lord & Taylor
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I am trying to prepare an executive summary for the board of directors of NRDC on the future direction of Lord & Taylor's retailing strategy. I want to include:
(1)Retailing strategy for Lord & Taylor that addresses both uncontrollable and controllable factors
(2)Strategy to include direct marketing with details
(3)Short- and long-term factors that need to be considered when developing a forecast model for the apparel retail industry
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I am trying to prepare an executive summary for the board of directors of NRDC on the future direction of Lord & Taylor's retailing strategy. I want to include:
(1)Retailing strategy for Lord & Taylor that addresses both uncontrollable and controllable factors
The uncontrollable factors for Lord & Taylor are the weak economy and falling sales of high-end fashion stores. In addition, the controllable factors are the proliferation and growth of retail internet sales..
The controllable factors are the positioning of the brand Lord & Taylor, the investment that NRDC makes in Lord & Taylor, the value of the real estate that Lord & Taylor stores command, the pricing strategy of Lord & Taylor, the merchandise that Lord & Taylor carries, the locations of the new stores that NRDC sets up and the positioning of Lord & Taylor.
One of the strongest uncontrollable factors is the weak economy and the tendency of the customers to avoid fashion and high priced stores. So the past image of Lord & Taylor is at sharp variance with the needs of the retail customer.
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