Developing and Managing product

It is an important phase of the business because the retail need to know what they will need in their store. An example at Neiman was the introduction this month of a new product: "The Bergio Collection" but they are only trying them in two locations to see how it will do. Bergio is an upscale jewelry retailer. They sell their jewelry to over 150 independents stores in the US. Now they are been associated with Neiman Which is well known for Fine apparels. By associating Bergio with Neiman, They are expecting a name recognition because Neiman already have that name recognition. Bergio will be exposed to the rest of the world. Neiman are choosing to introduce the brand in two of their stores in their Jersey locations.

Developing and Managing products 2

The development of product at neiman is done through the designers that they are working with. They are working with various designers to accomplish that. Designers may make products that they believe will appeal to the customers at Neiman. The designers already know the type of clientele that shop at the store so they will make the products accordingly. Neiman is well know for their upscale merchandises.

Personal Selling

Personal selling is a type of marketing that involves directly a sales person and a customers. At Neiman, they have clientele with whom they do personal selling. Sometimes, people do come to the store and there are sales associate that follow them and try to help them with their purchase. the customer may tell you that they want like a gown for a wedding and the sales person may select some gowns some that they think they can sell to the person. It may be a particular designers or a color.

Sales Promotion

The economy is forcing many stores to go through some promotional sales. At Neiman, they are using sales promotion like the Midday Dash. They discount certain item at very low using the social media and the email to target customers. They only do it for a short period of time in the middle of the day. I think it is very effective because they discount the items. It may be something that you really wanted but you couldn't afford it and now you with the midday dash, you can. the holidays are approaching also and it will give people some ideas of gifts without going to the store. With this recession, many people can use every bit they can save. This is the way to go Neiman.

Public Relations

It is a very important phase in the marketing process. This is the Christmas book for Neiman for the year 2009. Every year, Neiman has a Christmas book that they have so their customer can buy gifts to send it to their love one. The prices are over the top. This year for example, the book features gifts that are less than $250 because of the economy. This year, Neiman will be donating $200,000 to a charity called first book( a charity that distributes books to needy children). The buyer will get to donate the books to kids in any chosen state. This is an example that Neiman is taking care of the community.

Advertising

This advertisement here is from Neiman Marcus where the product advertise here is Chanel. We know that Neiman is a specialty store so they have all these designers including Chanel. It is a very nice bag and the way the model is dress is very classy. The advertisement is a way for the company to sell their products. A well done advertisement is the key to bring people to buy the products that you are trying to sell. When you look at the advertisement here, you will want probably the whole thing if you are attracted by designers goods. Just take a look at the bag, it is very nice and I am pretty sure that anyone that can afford it will probably buy one because of the way it was advertise.

Pricing at Neiman Marcus

As we know about Neiman being a specialty store, we may have an idea about their prices by the type of people that shop there. Their merchandise is highly priced depending on the people that are shopping there. Different people equal different situations. They have outlet store that they call Last Call where you can find bargain sometimes compare to the actual store. You will find sunglasses from designers like: Gucci, Christian Dior, D&G for $99 at the last call but in the store you may spend like $200 to $300 for the same eyeglasses. Neiman sometimes goes on sale and you may find a bargain when they do which is not often. They have to pay for their luxury fixtures and the designers that they are getting the products from. They also sell furniture at very high prices. The last time that I was there about two weeks ago, they had a sofa for $2500 so i was asking myself about what was so special about the sofa but i guess it will be a bargain for someone else and also they have to pay for their venue and all the expenses related to their business so they have to keep their prices high.

Pricing at TJ Maxx

As an off-price retailer, TJ Maxx have low prices on their merchandises due to the facts that they have buyers that are travelling around the world to get them the best price possible on items that they have in their stores. Their buyers travel over 40 countries to get the bargains so they can bring it to us. Because they don't invest a lot of money in the fixtures of their stores, they can afford to price their merchandises at a low price. In some stores, they have what they call runway where they have all the expensive designers that you may find at Neiman or Saks for an affordable price. you can find designers like: Lamb, Coach, Gucci, D&G, Juicy couture and many more at unbelievable prices. TJ Maxx also owned distribution centers so they can process the merchandise quicker and bring it to the stores. You don't never have to wait for the sales because you already have a bargain. One thing that also motivate the designers to sell to the buyers is that they do not return the merchandise at the end of the season. All sales that they make with the buyer is final that is why we have clearance rack at TJ Maxx so you can even save more.

Retailing at Neiman Marcus

Neiman Marcus is a specialty store selling luxury goods. They have fined goods made by designers only to attract their wealthy clientele. Their prices are high depending on who is shopping there. The atmosphere in the store is very cozy. The customer service level is very high. they attend to all your needs, always asking the customers to make sure that you are finding the things that you are looking for. The stores have that expensive feel to it. they do return and refund items that you are not happy with. They have women, men, kids, shoes, handbags, jewelries, housewares stuffs. They sometimes have items on sale. Twice a year, they have big sales that they call women annual or men annual sales but from most of the time, they have racks in the store with items on sale.

Retailing at T.J. Maxx

T.J. Maxx is a chain of American department stores owned by the TJX companies. It is the largest off-price retailer in the US. All their merchandise is discounted from 20 to 60 percent off department price they say. It is not the same price that you will find in department stores. They have a wide variety of designer handbags when you first enter their store to attract the women. They have many section within: men , women, kids, housewares, jewelry and the one that I went to had a runway( which is a only a part that sells stuffs from well known designers). Their prices are very good. You can really catch a bargain there. I remember buying a pair of jeans( 7 for all mankind) for $59 when you can pay as much as $129 in other stores. they offer services like layaway. They have a 30 days policy for refunds with your original receipt. If you don't have a receipt, they will give you a store credit.You won't get the one on one customer services that you will get somewhere else. You cant really blame them because you are buying at low price so they have to cut down on services. Sometimes, you really have to dig the good stuffs that are hiding between the racks. For the bargain that you are getting, every bit of it is worth it.