Individual project 4 Assignment Example | Topics and Well Written Essays - 1250 words

Individual project 4 - Assignment Example Nordstrom Inc. is an up market American fashion department store, founded by Carl F. Wallin and John W. Nordstrom currently having its headquarters in Washington’s Seattle. Shoe retail was the company’s beginning and has since grown their catalog to incorporate cosmetics, clothing fragrances, accessories, jewelry and handbags. Bloomingdale’s is also an up market American chain of department stores presently owned by Marcy’s, Inc. it was founded in 1861when brothers Lyman and Joseph G. Bloomingdale started retailing hoop-skirts in their Ladies Notions Shop on Lower East Side of Manhattan. They were both sons of Benjamin Bloomingdale, a Bavarian-native salesman who had inhabited Kansas and North Carolina before settling in New York City. Segmentation entails identifying different groups of buyers in a population in order to isolate certain products and services for these different groups or segments. By altering products, communication, prices to various groups, one is able to meet the needs of more consumers and consequently gain a higher overall level share or profit from a market. Segmentation, in short, allows companies to create just the right products and services in addressing the needs of different market slices (Berghoff et. al. 2012). You now have used qualitative and quantitative tools to assess service quality and segmentation in the stores. How can a marketing manager use these results to build a segmentation strategy in one of the target stores. Part 3 of the Individual Project will be 1 page in