Target Corporation

In: Business and Management

Submitted By bonnie80
Words 627
Pages 3
Macro Environment: Target Corporation
Economic: Target’s position in the Discount Department Store Industry has been to offer inexpensive and fashionable clothing, home furnishings and decorations. Their motto has been Expect More Pay Less. They have been very successful with this strategy until the downturn of the economy when sales began to seriously decline.
Target’s latest strategy has been to open SuperTargets and remodeled many of their existing stores that have a larger focus on food and household essentials. “In early 2010 Target announced in a strategy update that it plans to spend $1 billion to renovate about 340 of its existing stores in 2010.” They will be focusing more on groceries, beauty, home, and electronic products. They also have pharmacies and Starbuck Cafes in many locations.
Social/Cultural: Target has always been seen as a trend setter in their clothing and home products. Their name is often pronounced Tar-zhay in a French accent to highlight their low cost designer clothes and products. They have achieved differentiation in the industry by branding themselves To be a successful competitor they have to focus on customer needs. They also offer a better shopping experience for the customer than their competitors. While Wal-Mart does generally offers low prices Target offers higher quality products. Target Corporation is socially aware: they don’t sell fire arms, tobacco, or toy guns. The trend is also going towards one stop shopping which they are addressing by building Super Targets and remodeling many of their stores. As the economy turns around and consumers are more upbeat they will once again see value in Tar-zhay’s designer clothes and products. The truth is that Target is just a nicer place to shop and when the economy is strong it will be a clear first choice in the industry.
Technological: Target Corp. has an e-marketing…...

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