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Strategic case study on Target - Complete Strategic analysis

Number of Words : 7196

Popular By : Target SWOT analysis, Target Business plan, Target Marketing plan

Contents

  Executive summary & Key conclusions
  Retail food industry overview
  Target history & Background
  Competitive situation
  Environment
  Industry market segmentation
  Consumer behaviour
  Current positioning
  SWOT analysis
  Recommended growth strategy

Description

Current success is attributable to many aspects of Target, most of which stem from its strong reputation as a place to buy a wide variety of quality, fashionable goods at discount prices. Target has garnered this reputation by building a strong rapport with its customers and through its partnerships with other respectable groups. As well, Target’s continued desire to help communities has helped build and strengthen relations with its clientele. A weak point for Target is its position in the market. One major reason for this weakness lies in the overall structure of the company. Frankly, it is currently not capable of reaching out to certain customers (specifically suburban and rural) simply because of its size. This being said, Target is in a great position because it is big enough to chip away at Wal-Mart’s market share and compete strongly with other members of the various industries Target is a part of (Kroger, Safeway, etc.). Opportunities for Target to grow are many. For example, delving more into the retail food industry, investing more into on-site gas stations, increasing its prominence in bridal registry and to open up more partnerships with other companies are all ways for Target to grow. All of the potentials have to bear in mind the overall objective of bringing more customers into the store and having those customers come back often. The frequent customer is relatively rare at Target, especially when compared to Wal-Mart and this needs to change.<br />

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