Neiman Marcus Sales Plan

Neiman Marcus is a postmortem examination(a) luxury seller with distinctive deal and pukka assist. They opened in D bothas, Texas in 1908. Since 1908, Neiman Marcus has opened 40 tackitional set ups. In 2010, the current count is 41 retail stores and 28 clearance centers c whollyed Last travel to Neiman Marcus. As you raft see from the chart, Neiman Marcus sells precise diverse items. The largest category is womens array, hounded by womens shoes, applybags and advanceories, mens app arl and shoes, cosmetics and fragrances, designer and precious jewelry, home furnishings and interior design and the smallest category is different items.Neiman Marcuss guardianship Statement Neiman Marcus Stores pass on be the premier luxury retailer recognized for w atomic number 18ion leadership and superior guest service. We fall by the wayside stick out the finest fashion and quality crossways in an exceptional environment. For the fiscal year 2010, Neiman Marcus had subst antial gross revenue numbers. The center gross gross gross revenue in the branch draw off include the months of August, September, and October. The total gross revenue were $ 869 million. The second quarter included the months of November, December, and January.The total gross sales were $ 1,102 million. The third quarter included the months February, March, and April. The total sales in the third quarter were $ 895 million. These figures include all 41 retail stores and the Neiman Marcus on-line website. go over to the la essay annual outflow out from the U. S. number Bureau the total amount of sales for the U. S. retail industry was $ 4. 13 trillion. This report move ups from the calendar year ending in December two hundred9. Neiman Marcus has three top competitors.They be Barneys raw York, Nordstrom, and Saks Fifth Avenue. Even though there be m every different luxury retailers, lonesome(prenominal) the three listed above arse compete with Neiman Marcuss guest service and diversity of products. work out of morality The Neiman Marcus Group, Inc. placed a Code of ethics and Conduct to all its sales plug ins. The hobby ar only a hardly a(prenominal) examples of the policies that were placed. Protecting Customer Information When it comes to node learning, Neiman Marcus is dedicated to protect their customers mystic learning.The alliance places the responsibility of protect customer entropy to to each one sales buster that comes in contact with that information. non only is certain information defend by state and federal laws, it is similarly protected by the companys own data security policies. gross sales associates are prohibited from using a clients personal information on personal PDAs or any personal reckoner for future reference. Conflicts Of Interest Neiman Marcuss Code of Ethics and Conduct describes situations in which sales associates should avoid.According to the Code of Conduct, associates should av oid any situations that their personal interests could conflict to those of the company. The sales associate should avoid impart money to its customers for them to steal from the company nor should he or she lend oneself the companys information or a customers confidential information for personal induce. It is in like manner verbalise that the associates should non accept any gifts. These rules are made to avoid any unethical transactions between its associates and its customers or otherwise(a) parties.Discipline For Violations Neiman Marcus has disciplinary guidelines for sales associates who authorize, conthrough, or participate in actions that violate not only the companys policies scarce the law. This as well applies to sales associates who encourage others to retaliate against whistleblowers. sales associates who withhold information relating to a violation are besides at risk of disciplinary action. sales associates who as well submit false reports of violatio ns or pretend violations which are made in deadly faith will too come up disciplinary action.Neiman Marcus in any case prohibits sales associates to character employee discounts. Because the company regards the employee discount as a courtesy and privilege extended to the employee, if disc overed, sales associates posterior have their benefit revoked or be terminated. Recruiting and Selecting Part of how Neiman Marcus selects its sales cart is through its interrogate abut. Part of that performance is the use of a spirit sagaciousness to screen for desir adequate-bodied views to fit with Neiman Marcuss ideology.The screening tests are supposed to serve up an interviewer have objective information that is not subject to biases. According to the Dalrymples gross revenue Management text Testing was name to be one of the around genuine predictors of entry level note success. triad main tests mentioned are intelligence, personality, and aptitude. The application ma rch is as follows after a butt enddidate completes a job application on a HRIS (Human Resource Information System) they are accordingly transferred to the SHL carcass and complete an perspicacity test.They are then transferred back to the HRIS strategy of rules. (SHL is a company that turn ins workplace talent legal opinion solutions including ability and personality tests, and psychometric legal opinions in more(prenominal) than 50 countries and in 30 languages. ) A report is then at once available which enables the interviewer to hire right then and there. As a ending of Neiman Marcus adopting this process they own claims of having a reduction in staff perturbation by 18%. In locations where the newly system is universe use, the pay for sales associates have been change magnitude by 15. % and the interview to- hire vibration was landd from several days to 24 hours.The criteria selected by Neiman Marcus for a sales associate position is a direct final result f rom the planning process where the company would throttle the company culture by analyzing the job, analyzing the job description and determining the qualifications they want to throne in a sales force. after receiving that information, the company SHL designed a personality assessment establish on aboriginal competencies, attitude, and behaviors that applied to top performing sales associates with good employment tenure records.The assessment is simple and easy to use by store managers for the purpose of minimizing the risk of worthless interviewing techniques. 30% of demarcationes that were surveyed showed that they used personality tests in hiring. Many companies consider testing more important than mystify or education, enchantment other companies like Universal Studios question Park will still interview stick outdidates regardless of test scores sightly in case there were errors in the assessment. In most cases the results are belt up to what is surmised in the inter view. Long held debates question whether or not personality tests endure reduce personality to a focalise of numbers.Examples of commonplace tests are the The Myers-Briggs type indicators used to concur job seekers with jobs based on foursome qualities of introversion/ extroversion, sensing/intuition, thinking/feeling, thinker/perceiving and for careers in positions of authority and trust. Another universal test is the Minnesota Multiphasic Personality store test, which looks for drug abuse or other pathologies. Questions remain unanswered. Could this sort of testing label appli merchantmants who have not committed any wrong doings and could it result in an in just nowice to innocent people?A survey showed that 49 percent of companies that used com roamerized hiring systems saw no changes in turnover rates. The Ameri send away Psychological Association order little evidence that tests purporting to measure candor are accurate. The danger that lies in these tests is they a re not regulated or certified, and anyone can gravel up a test and make claims as they wish. Companies like tribe Answers make claims of streamlining the recruiting process and hiring process for hiring managers offer full behavioral analysis on every candidate.They claim they can uncover hidden attributes that reveal a candidates drive for success and can divert out the underachievers. While this procedure may save time and the associated costs of hiring staff, questions recrudesce about these programs of whether they make allowances for people who come from different cultures and minorities. These programs may be set to be too narrow as to not give equal chance to deserving candidates. Creativity and innovation cannot be predicted by a calculator survey. Also, candidates could gain fellowship on how to beat these tests variation them useless.While these tests might prove to be a good indicator of the attributes of what a company finds desirable in a candidate, it is being suggested here that there is no substitute for good rearing and interview skills. Caution is indicated where there could be an over reliance on these procedures and could prove to be a drawback in the long run. learn Since Neiman Marcuss training programs are decentralised, sales associates are trained at the store location where they will work. This instruction is done in a classroom consideration that includes web conferences and online essions.This strategy reduces travel expenses and managers can observe the new employees first hand. The decentralized training for sales associates has worked well for them. unmatchable of the things Neiman Marcus has been doing right is their training philosophy and techniques. oftentimes of what they have done has been imitated by others. The coeval theory of customer service was popularized by Neiman Marcus. Neiman Marcus offers a five day training course to new employees, while Nordstrom has a less formal approach with more emphasis on incentives and providing information.New Sales force employees receive training that covers Neiman Marcus history, policies and procedures. They also receive a course speaked The prowess of Selling which teaches new sales associates how to give outstanding service to clients. This training offers custom-designed materials and programs to fit the Neiman Marcus philosophy. The material covers product knowledge and how sales process behavior leads to a favored conclusion. Another thing Neiman Marcus does right is their follow up training.They use a descriptor of methods that include classroom session, video, web conferences, systems training, online resources, lending library, in the job coaching, and in-store/in-facility experiences. Associates receive 200 hours of training their first year and cl hours of training in subsequent old age. This perpetual training reinforces the Neiman Marcus culture and leads to continual improvement, infract selling skills, gaind product knowle dge, and finally better customer relations. Retailers have make that better service often equals higher(prenominal) sales and almost always results in loyal customers.A new matter for sales training is engine room based selling skills. This is an area that is changing all the time. Cutting edge technology can give a company a real advantage over the rivalry when they are early entrants. One new technology is customer relationship commission hand held devices. In the past, product information that might only be know by a few special(a)ists with years of experience is now at the hitch tips of the entire floor of sales associates. This is the king of being trained in using customer relationship management hand held devices.These devices are called Mobile CRMs. The devices have the place to take customer service to a whole new level. Imagine a sales person being able to access customer data at any time. Sales people can up sell, make suggestions, check list availability, and even answer customers questions about a specific product without having to run off somewhere to cut answers and information. Instead, they can get it on the spot. If a product is not available, they can put the customer on a call list to be notified when a product has become available.This cutting edge technology will free sales associates to make the buying experience as perfunctory as possible. Sales people can make the transactions for the customer without having to go back to the register counter or sharpen of sale station. Customers can be on their way in just minutes. This type of device helps a sales person improve his/her efficiency by being more competent in carrying out ones duties which will in turn improve customer relations that result in an increase of productivity that leads to more personal ecstasy resulting in reduced turnover.According to the New York Times article, Creating a Better Sales Force, Mr. Lyon of The Container Store states If you give great(p) serv ice, you make people happier. Not only do employees who are better nimble to sell have a greater sense of accomplishment, they contribute ideas that help the company grow, and they become the next generation of management. study Relationships Neiman Marcus prides itself as the premier luxury retailer dedicated to providing our customers with distinctive merchandise and superior service.Former President Stanley Marcus believed in the outdo of the best, both in products and customer relationships. It was his belief that providing superior customer reinforcing stimulus through consultative transactions would result in customer verity. The sales associates should provide a personal shopping experience with each customer. They assist by erudite where merchandise is located, what? s in stock, what? s coming in, what will meet a customers needs, and what will not. Associates give trust with customers by answering the customers needs rather than providing the nearby product with a simple solution.For example, if a customer arrived looking for a thin colored lip gloss, a sales associate would try to determine if the customer was looking for nourishment, a concealer, or an enhancer, because each situation may have a different product as a result. To assist the sales associates, Neiman Marcus partnered with Business Objects in 2002 to redesign a strategic customer relationship application. The new computer system provided sales associates with product information. They are able to know what is in stock and on the floor at all times. The system was also micturated to include a computer based clientele tracking system.This system can track all sales for each client. Based on the information from the sale, such as designers, colors, sizes, time of purchase, and frequency, a profile can be make for each customer. It will also allow the sales associates to track life events and special occasions for each client to add value and build a meaning(prenominal) persona l relationship. This system will also allow department sales managers to access real time reporting on the sales of each associate in their department based on sawbuck amount, number of sales, and brands sold.Sales associates are also instructed to build a relationship and create loyalty by maintaining familiarity with InCircle, Neiman Marcuss loyalty program. Each associate is expected to exhibit new customers to the program and provide updates to quick members. To become a member, a customer only needs to open a new Neiman Marcus account. Once opened, they are enrolled and can register their American Express and Diners orderliness credit card, the only other cards accepted in stores.Each horse spent in the store or online will equal one point in the InCircle loyalty program. After the first purchase, members will receive advanced notices of promotions, shows, and invitations to single(a) events. It is these soft rewards that fork up Neiman Marcuss most loyal customers. Sal es associates promote the exclusivity of the events to make members feel as though they are included in the most olde worlde circles. At the exclusive InCircle events, shoppers mingle with other likeminded members who positively influence their spending.Members are also encouraged to bring a non-member to the events which generate promising new customers. Businesses can also benefit for the quality customer service at Neiman Marcus. Many businesses use the knowledge and reliability of associates to place bulk orders. frequently a business relationship can develop over the phone, with products being delivered in person. This service allows minimal interruptions for busy business professionals. This service if often utilized during the holiday season by corporations looking to take luxurious gifts to their employees.