neiman marcus vs. saks fifth avenue estacey cadorna chloé halley panda nguyen iza ramsay

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Neiman Marcus vs. Saks Fifth Avenue Estacey Cadorna Chloé Halley Panda Nguyen Iza

Author: kelli-maund

Post on 29-Mar-2015




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Neiman Marcus vs. Saks Fifth Avenue Estacey Cadorna Chlo Halley Panda Nguyen Iza Ramsay Slide 2 Objectives Four Key Priorities Evaluating Saks vs. Neiman Marcus Learning the fundamentals of website marketing Comparing similar competitors S.W.O.T. Analysis (Saks vs. Neiman Marcus) Slide 3 Slide 4 Neiman Marcus Brief History Founded 1907, Headquarters: One Marcus Square Building in Downtown Dallas, Texas Neiman Marcus is a Specialty Retail Department store They own many specialty retail stores such as Bergdorf Goodman in Fifth Avenue, NY Also, a direct marketing division which operates the catalogs and online operations under the Horchow (home furnishing). 41 Locations Neiman Marcus is known for the Last Call (discount Outlet store 60% - 65% off) Catalogs are distributed annually to every brand loyal customers Christmas catalog - which is free publicity for Neiman Marcus on must have one of a kind items not sold in stores HIS & HERS Fantasy Gifts Slide 5 Product Description Clothing Womens apparel Mens shop Designers, Apparel, Shoes, Jewelry & Watches, Bags & Leather Goods, Accessories, Spotlight On NM Kids Designer Products, New Arrivals, NM Kids, NM Baby, Gifts NM Edits (exclusive styles and trends) Footwear (women), Jewelry, Beauty Products & Women's Apparel Designers, Categories, Lifestyles, NM Edits, Spotlight On, Exclusive Ours Home Furnishing New Arrivals, Designers, Dcor, Home Office, Spring Trends, The Top 10, Spotlight On Slide 6 Website Evaluation Direct/Indirect Audience Direct Audience: Women Indirect Audience: Men Added Brand Value Fashion assistance, is on their navigation links. As well as current sales for in store and online sells. Revenue Models Followed Discounts to attract customers Marketing Relationships Affiliate website. As an alliance, they own Bergdorf Goodman, Cusp, Horchow, and Last Call. Both have advertisements in magazines as well. Slide 7 Features Functional Features Fashion based assistance with features such as Last Call sales. They use flash to show main points of the website. Point-Of-View Usability Navigation is in a clear spot and has organized sections. Even though the website contains flash, the site loads quickly. Slide 8 Social Butterflies Social Media Pinterest account Facebook account Twitter account Mobile Commerce Available apps for smartphones and tablets. They also have an option to send out texts. International Presence Neiman Marcus does not have the option of shopping online from another country on their website. Slide 9 Neiman Marcus S.W.O.T. Strengths Strong and well known luxury brand Had first ever customer loyalty program and continues to have loyal customers Has multi-channel retailing including online, mobile, and catalog. Maintains strong relationships with vendors Weaknesses Low inventory turnover ratio due to mismanagement of inventory Large amount of debt including $42.7 million after-tax loss in 2011 Still recovering from past years of high decline in sales Opportunities Investments in technology including recent testing in new iPhone app. Increase in product productivity by 10%-20% in 2011 Expansion of brand in global markets such as China Threats Highly competitive department store sector including Saks, and Nordstrom Increase in state and federal labor cost Slide 10 Slide 11 Saks Brief History Founded: 1898, Headquarters: Midtown Manhattan NY City Saks Fifth Avenue is a Luxury American specialty Department Store Saks Fifth has 46 locations & 61 OFF Fifth locations 5 International Locations 2 in North America 3 in Asia His and Hers Saks Fifth Avenue stores on opposite sides of the street on the Magnificent Mile in Chicago. Slide 12 Product Description Clothing Womens apparel The Mens Store Designers, New Arrival, Apparel, Shoes, Cuff Links, Jewelry & Watches, Grooming & Fragrances, special offers, The Mens store sale, Trends & Events Just Kids Designers, New Arrivals, Baby 0- 24M, Girls 2-14 YOA, Shoes for all ages, Toys & Books, Furniture, More ways to shop, Sale Just Kids Saks Fashion Fix (Trendy Assistance) Footwear (womens), Jewelry, Beauty Products & Women's Apparel Designers, Categories, Lifestyles Boutiques, Spotlight On, Trends & Events Home Furnishings New Arrivals, Designers, Dcor, Gourmet foods Tech & Pet Accessories Slide 13 Web Evaluation Direct/Indirect Audience Direct Audience: Women Indirect Audience: Men Brand Value Saks site features their latest and updated trend on the front page as an image. On the very top right of the website is a link to customer service which is great for solutions for the customer. Revenue Models Followed Saks revenue model consists of having a simplistic website. The website makes consumers feel organized when viewing the site. Marketing Relationships Affiliate site. For alliances, they promote the show Fashion Star. By allowing the buyer from Saks Fifth Avenue to be a buyer on Fashion Star creates publicity for the company. Slide 14 Features Functional Features Saks Fashion Fix (is a fashion assistance link) Saks has a customer service area at the top right of the page, one of the first things viewers see. The section contains customer service, chat, a phone number, and an option for viewing the website if one is from a different country. Their site also contains an organized navigation. Cross Selling (Product recommendations) Point-Of-View Usability Their navigation is in a clear spot and has organized sections. The websites also load fast even with flash and high quality images. Slide 15 Social Dragonflies Social Media Facebook account Twitter account Fashion Blog They advertise on Fashion Star because a buyer is on the show. Mobile Commerce Available Apps for Smartphone's and tablets. They also have an option to send out texts. International Presence Saks has international presence in other companies and allows other companies to shop on their website. As well as consumers. Locations Mexico, Puerto Rico, Saudi Arabia, Bahrain, United Arab Emirates Slide 16 S.W.O.T. for Saks Fifth Avenue Slide 17 Compe titors Slide 18 Slide 19 Usability comparison Both have a similar monochromatic color scheme to their websites. However, Bergdorf Goodmans site has a more simplistic navigational layout with minimal amount of links and focuses mostly on the one current promotion or product being featured. Saks has many different links which can take the consumer to their products, promotions, and store information. Strategies Bergdorf Goodmans strategy is to convey a contemporary look to there website appealing to more middle-upper class women. The simplicity of the website is for the stylish sophisticated business women. Saks strategy is for the fashion forward consumer incorporating bright colors in there wardrobe. The website appeals to a younger more vibrant crowd. Assortment Saks and Bergdorf Goodman have a wide variety of designer apparel, shoes, and accessories for women, men, and children. Saks has an additional category for home and gourmet goods along with their own Saks Fifth Avenue private label. Bergdorf offers a 5F special category for contemporary designer apparel within a more affordable mid-priced range. Features & Function Saks website has colors and designer displays using the hot looks of today to draw the consumers attention. The site is click-to-view categories or by brands which makes every item search accessible. Slide 20 Slide 21 Usability comparison Bloomingdales & Neiman Marcus websites are both organized and easy for the consumer to navigate. The difference between the two site is the color usage and placement of navigational links. Strategies Both websites Bloomingdales & Neiman Marcus use sales and promotion as a strategy to promote exclusive products and special promotional prices (limited offers) Assortment Bloomingdales has more of standard product assortment more vibrant colors that appeal to a younger less business crowed. Neiman Marcus has a more modern style and neutral colors displayed as well as there brand name incorporated into the product. Ex: NM kids and NM furniture. Features & Function Bloomingdales website has readable font, cool colors and promotional sales. They use direct marketing approach by displaying 3 different sales as a limited time offer. The functionality of the website is the click-to-view access. Neiman Marcus has flash visuals on there homepage which allows the consumer to be able to choose what they want to view. Their functionality is that they also have a click-to-view access.