Nordstrom:Turning A Problem Into An Opportunity
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Assume that you are part of the management team of Nordstrom's department store. The retail industry and Nordstrom's is under a great deal of pressure due to the state of the economy. Research the retail clothing industry and Nordstrom's in particular using an online search engine. Identify the threats to Nordstrom's. Consider how you can turn the problem into an opportunity.
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Solution Summary
This solution identifies threats to Nordstrom department store and gives suggestions of how to turn problems into opportunities. Includes APA formatted reference.
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Threats to Nordstrom include the plethora of premium outlet malls and disposable fashion stores like H & M, Zara, and Forever 21. These stores represent cutting edge fashion at lower prices. In response, Nordstrom can take several actions including developing a broader line of private label apparel in categories that appeal to this target audience. For instance, Forever 21 customers can be attracted to Nordstrom by ensuring that fast fashion items are also available for young girls that are priced low and frequently changing.
It is also important to offer products in a dynamic environment that ...
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