Swot Analysis For ‘Target Corporation’
Table of Contents
Overview of the Company
Swot analysis
Sources
The Company’s Summary
Original: Our mission is to provide excellent customer service
Paraphrased: Our goal is to offer outstanding customer service
Target is almost ubiquitous in America. Retail corporation known for hip, trendy and modern style. Target has five major product categories: home decor, food, beverages, electronics, sporting good, toys, software, and apparel.
Their target demographic is young, upper-class adults. Target Demographics is a group of adults aged 25 to 44 (n.d.). It is visited by more adults who are married and have children, and also adults who hold a degree from college.
Swot AnalysisTarget’s brand is one of urbanity, fashion and hipness in an increasingly urbanized country. It is likely that this is why Target appeals to millennials, a group with an urban lifestyle. Discount stores are also more popular among Millennials because they have less money to spend.
Target has also a very strong marketing team. The marketing department at Target is very good. Advertising is done with fun, trendy commercials. These ads stick in your head and cause you to want to go shopping at the store. Target’s displays are well-known for causing customers to come in for a single item and walk out with an entire cart. The store’s layout and the way they display their products can be partly credited for this.
Target is not taking advantage of all the services that retail stores can offer, such as fueling stations at Walmart and spas. These additional services may attract customers that were in the bank for a specific purpose, but later saw a product in the store they wanted to buy. How about a customer shopping who sees a nail shop and decides to come in for a pedicure? You can attract customers by offering these additional services.
Online sales is another weakness of Target. Target has many opportunities to improve their website and application. For example, the fashion department could be improved. There are many variations in the photos. Some show models wearing clothes, others have mannequins and still others are just flat. It is frustrating to have to guess the size. Sorting and naming the items could also be improved. It is very difficult to locate a particular top online if you have seen it in a store.
You can find Target in most cities. Target is located in every city with a high population. The company seems to continue expanding in the United States.
Target can also take advantage of the growing popularity of online shopping by expanding its online presence.
The popularity of Neighborhood Marketplaces is increasing, especially near colleges. These smaller versions of supercenters are great for customers who need to pick up a few items quickly without having to make a full-store run. Walmart and Kroger Inc. both have these stores. They are also known for being more efficient because they reduce the amount of choices of items. This makes the store less crowded because customers can quickly enter and leave.
Target’s online stores are another threat. Amazon, for example, offers convenience and low prices while allowing you to shop at home. Amazon Prime offers 2-day free shipping on a majority of their products. Third-party sellers, Amazon Pantry and Amazon Pantry are excluded (unless you reach a minimum spend). Target offers 2-day free shipping only on select products. Amazon offers a greater selection than Target.
Citations
Other target corporations (2019). Retrieved from ProQuest Central website: https://libauth.purdueglobal.edu/login?url=https://search-proquest-com.libauth.purdueglobal.edu/docview/1860750763?accountid=34544
Target Demographics And Shopper Intelligence (n.d.). Retrieved from http://snapshot.numerator.com/retailer/target
