×
×

The Biography Summary of Marshall Field

April 14, 2019 316 views

Marshall Field – Short Biography

He was considered ‘shy’ and ‘not suitable’ for business by his first employer, Deacon Davis. In the late 1800s, when Marshall Field and Co. was established, Field became one of the wealthiest men in the United States and was considered a pioneer and a true business leader in his time with the progressive retailing practices he established.

Business Leader Marshall Field – Chicago’s Merchant Prince

Marshall Field first worked as a clerk for Cooley, Wadsworth & Co. and became a junior partner in the company in 1862. Later, in 1865, he joined other businessmen to manage Field, Palmer, and Leiter which eventually became Marshall Field and Co. in 1882 when he bought his partners out.

Marshall Field was considered daring in his move to create one of the biggest department stores in the world in Chicago which was a hugely unsettled community and outpost at that time. But he knew who his target clients were — the increasing number of Midwestern middle-class shoppers.

Field then instituted and applied several innovations in his shop which are still used today by many department stores and malls.

Some of these include:

  • Open return policies
  • In-store restaurants
  • Free gift wrapping
  • Displayed price tags
  • Lively and attractive display windows.
  • One price policy
  • Citywide deliveries

Aside from these, Field also brought in cosmopolitan items from his travels around the world and sold these in his store.

Not everything was smooth sailing for Field’s company though. In the stretch of its development and growth, the firm also faced troubling times such as the panic of 1873 and the Great Chicago Fire.

But it was able to endure all these and Field went on to invest in the rapid growth of Chicago’s population.

During his prosperity, Marshall Field developed and produced his own line of products in several factories located in China, Spain, Italy, Germany, and Australia.

The Marshall Field Quick Bio

Full Name: Marshall Field

Year of Birth: 1834

Year of Death: 1906

Birth Place: Conway, Massachusetts

Company: Marshall Field and Co.

Industry: Retail

Key Success Traits: innovative, creative, driven, self-confident, savvy, a man of action

Additional:

Marshall Field was a philanthropist and a generous donor to various charities. In 1878, he founded the Art Institute of Chicago and donated the land where the University of Chicago is now located. In addition, Field is also credited to have contributed greatly to the establishment of the Field Museum of Natural History.

The Latest Google Search Results Related To Marshall Field

The Biography of Marshall Field

Latest Scholar Searches Related to Marshall Field

Latest Image Searches Related to Marshall Field

Books

Books from Amazon Related to Marshall Field

Google Book Search Related to Marshall Field

News

Latest News Related to Marshall Field

Twitter

Tweets Related to Marshall Field

YouTube

Videos Related to Marshall Field

Tags