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Research The Fame Of Neiman Marcus

1288 words - 5 pages

Fame of Neiman MarcusAll new stores hope to prosper to greatness and have their name known by all, but no other speciality store has achieved so much fame and recognition than that of Neiman Marcus. "The Dallas based Neiman Marcus store, one of the world's best- known specialty retailers, operates 35 stores nationwide." ( Comfort and Joy, 1). Neiman Marcus was funded by Herbert Marcus and later the legacy was passed on to his son, Stanley Marcus, who explains his interest in the store by saying, "Specialty stores provide the excitement that department stores as a whole don't provide." (Yarbrough, 4). Neiman Marcus has become an internationally known specialty store because of its revolutionary sales tactics and its superior customer service.As good business men, the Marcuses knew the store's merchandise is what defines the store and the type of customers drawn in. Stanley Marcus reasons that quality merchandise is important to all concerned, if the buyers receive the high quality they want, and deserve, then the store earns a good reputation and repeat customers (Yarbrough, 9). Thanks to this understanding, Neiman Marcus has always held high standards for it self. The selection of merchandise is an important process that could make or break a store. Mr. Marcus consulted with not only top fashion designers, but also some that were just starting out who had great vision. Because of this, Neiman Marcus made many designers what they are today. Once the selection process had been narrowed down, a board of Neiman Marcus's customerswere asked to give their opinion and input. Marcus often marveled at this practice and said, "It is interesting to observe the ingenuity of the Neiman- Marcus buyers and manufacturers when challenged to develop specialized items exclusively for Neiman-Marcus." (Marcus, 8). A stores eventual success depends on its fashion and attractiveness of the merchandise, (27) and thanks to these revolutionary methods of selecting goods the store reached and maintains that success. Herbert and Stanley alike understood the importance of selecting not only popular goods to sell, but also the unique to help the store be noticed. Neiman Marcus was among the first to carry a wide variety of worldwide oddity items that were of superior quality. Stanley Marcus explains the story behind this idea:During my years of European shopping, I found more unusual things in retail store windows than I did in manufacturers' showrooms. I made it a practice to watch what certain American travelers bought as gifts to bring home, and as a result I learned a lot. (31).Neiman's never before seen items coupled with first rate quality created as air of elegance to the store. Mr. Marcus sums it up best when he says, "I've always believed that quality and uniqueness is remembered long after the price is forgotten." (Yarbrough,10).While spreading word of the Neiman Marcus store brought people in, it wasn't enough to reach those who lived a long distance from the...

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