External Environment and Competitive Position
Industry Analysis and Competitiveness
Any business and its corresponding market position are affected by a change in the external macro environment factors such as the economy, government policies, the community it serves, market segment, and the corresponding industry. Target Corporation as part of its strategic planning, monitors the changes in the business segment, forecast the trend, understand the current environment, its competitor and their strengths and weaknesses, and any of their planned moves to establish long-term market needs and come up with the major trend on how fast retail industry grows or slows down compare to sustaining with an average performance (CEA, n, d). It needs to take …show more content…
Strengths: Target brand is a well-recognized name, highly respected brand loyalty with an enjoyable shopping experience makes it as a fun place. Target does a good job of marketing general household merchandise, fashion, and home furnishings more appealing to young shoppers and presentation more aligned with modern trend Opportunities: Target should continue adding top fashion products Lilly Pulitzer etc. appealing to all store and online customer. The Omni-channel and same day in-store delivery for online shoppers with a contactless payment option will increase Target sales volume. Weaknesses: Target is lacking in online sales, and more shoppers prefer smaller neighborhood store as well placing an order from home. The large retailers are expanding their presence, whereas Target has not made a significant expansion in the last few years compare to its rivals. Threats: The growth of low price discount stores, big box stores with bulk items for low prices and the online retailers offer low price and convenient way of shopping at any time (Pestle Analysis, 2015). Additional SWOT review is listed in Appendix …show more content…
Target Corporation current strategy gives more values for the customers and aligning with their lifestyles and the efficient delivery translates into superior products at a lower price or the best value which is possible only with Target 's the value chain activities that targets a broad or narrow market. It is a hybrid strategy easily blends elements of low-cost provider and differentiation strategies.
Target Corporation strategy is selling fairly commoditized products and the superior supply chain technology and product differentiation that blends elements of low-cost provider and differentiation strategies giving a sustainable advantage and a motivation to visit a store or online. Collaborating with an exclusive name brand will help more traffic online and to a store. Target value chain activates like inbound supply logistics sustainability, produce supplies with a high-quality vendor and partners, extend the return by 30 more days with the target card, outbound logistic to move the goods to the customer promptly and efficiently and talented workforce supports its generic
Industry Analysis and Competitiveness
Any business and its corresponding market position are affected by a change in the external macro environment factors such as the economy, government policies, the community it serves, market segment, and the corresponding industry. Target Corporation as part of its strategic planning, monitors the changes in the business segment, forecast the trend, understand the current environment, its competitor and their strengths and weaknesses, and any of their planned moves to establish long-term market needs and come up with the major trend on how fast retail industry grows or slows down compare to sustaining with an average performance (CEA, n, d). It needs to take …show more content…
Strengths: Target brand is a well-recognized name, highly respected brand loyalty with an enjoyable shopping experience makes it as a fun place. Target does a good job of marketing general household merchandise, fashion, and home furnishings more appealing to young shoppers and presentation more aligned with modern trend Opportunities: Target should continue adding top fashion products Lilly Pulitzer etc. appealing to all store and online customer. The Omni-channel and same day in-store delivery for online shoppers with a contactless payment option will increase Target sales volume. Weaknesses: Target is lacking in online sales, and more shoppers prefer smaller neighborhood store as well placing an order from home. The large retailers are expanding their presence, whereas Target has not made a significant expansion in the last few years compare to its rivals. Threats: The growth of low price discount stores, big box stores with bulk items for low prices and the online retailers offer low price and convenient way of shopping at any time (Pestle Analysis, 2015). Additional SWOT review is listed in Appendix …show more content…
Target Corporation current strategy gives more values for the customers and aligning with their lifestyles and the efficient delivery translates into superior products at a lower price or the best value which is possible only with Target 's the value chain activities that targets a broad or narrow market. It is a hybrid strategy easily blends elements of low-cost provider and differentiation strategies.
Target Corporation strategy is selling fairly commoditized products and the superior supply chain technology and product differentiation that blends elements of low-cost provider and differentiation strategies giving a sustainable advantage and a motivation to visit a store or online. Collaborating with an exclusive name brand will help more traffic online and to a store. Target value chain activates like inbound supply logistics sustainability, produce supplies with a high-quality vendor and partners, extend the return by 30 more days with the target card, outbound logistic to move the goods to the customer promptly and efficiently and talented workforce supports its generic