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Case Study on Neiman Marcus

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Added on  2022-01-19

Case Study on Neiman Marcus

   Added on 2022-01-19

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RESEARCH PROPOSAL
STUDENT NAME:
COURSE NAME:
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Case Study on Neiman Marcus_1
TABLE OF CONTENT
Introduction....................................................................................................3
Trends...........................................................................................................3
Analysis.........................................................................................................5
Framework......................................................................................................5
Suggestions...................................................................................................10
Conclusion....................................................................................................11
Reference......................................................................................................12
Appendix......................................................................................................14
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Introduction:
Neiman Marcus is a leading UK retailer operating with several leading channel retail terminals.
The organization is known for providing people with products like stylish clothes, accessories,
unique products, decorations, and home decor. Headquartered in Dallas, Neiman Marcus
employs more than 14,700 people in all its stores in various urban communities across the United
Kingdom (Shu. et al., 2017).
Trends:
The consumer-centric approach of Neiman Marcus:
The organization’s website states that Neiman Marcus ’regular consumer is someone with
modern fashion thoughts in every field (Dewar, 2017). Their main target buyers are
exceptionally wealthy and expensive. Records show that Neiman Marcus' $ 100,000 major
clients spend $ 1.2 billion annually, while the average consumer spends $ 11,000 per year
(Dewar, 2017). With 1 in 125 people being a hub, it is part of the fastest growing corporate
sector in the United Kingdom (Dewar, 2017). Neiman Marcus buyers are exceptionally
demanding, and shareholders demand better quality products and better management. The great
thing about this is that these buyers will pay for these high-quality orders.
Neiman Marcus has worked hard to ensure that its products are widely distributed and positioned
its image at the highest point in the market (Dillon, 2017). In order to improve its products and
services, Neiman Marcus uses online media sites such as Facebook, Twitter, Snapshot, LinkedIn,
and others. With an online business webpage and website and email, Neiman Marcus discovered
how to improve their products, interact with buyers, answer questions, and provide uninterrupted
consumer support services. The organization also has a loyalty program that gives buyers reward
points for anything they buy. The organization is not left behind in terms of mobile applications.
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They have an iPhone and tablet app on iPod. The organization also has a mobile app optimized
for all cell phones (Kim. et al., 2017).
Online retailing:
The Neiman Marcus team understands the needs of their clients, and in this context, the
organization has reached out and put in place some improvements in their online store. The
organization has been in business for over 90 years and has opened 37 stores and opened an
online store to reach a wider audience. Neiman Marcus maintains a sense of restraint and
exclusivity. Neiman Marcus understood how to turn online shopping encounters into
extraordinary experiences to discerning buyers in terms of the shopping experience. Its stores are
historic collection centers lined with products from all over the world for buyers to see. It only
offers events and programs to employees, which confirms its image (Luckic, 2020). The
organization is also successful
Its suppliers undergo complete consumer service and production offers, and 200 hours of product
confirmation for new models are offered after the year and then 160 hours of production. The
staffs are ready to maintain a reliable and personal relationship with clients. The organization's
strategies have provided Nieman with a solid platform against its competitors by maintaining
consumer service and providing new advice from its buyers (Phillips. et al., 2019).
Fast fashion:
Neiman Marcus is currently can try fast fashion. The organization has an exceptional following
and aims to attract comfortable and expensive elites from all over the world. The rest of these
will be great functionality, and on top of that, the Neiman Marcus loyalty program places them at
the top of the list for quality designs. However, the organization faces very great difficulties, and
it must be careful how it handles these issues for the sake of its long-term maintenance. First of
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