Target Swot Analysis
Executive Summary
Target Corporation operates general merchandise stores in the United States and has just begun opening stores in Canada. The company offers a wide variety of goods ranging from household essentials and furnishings to hardlines comprising of various forms of personal entertainment and apparel and accessories. Target has opened more than 20 of its 124 locations already and has received mixed feedback from Canadian shoppers. Retail pricing is on average at least 10% higher in comparison to US prices which compromises Target’s mission of “Expect More. Pay Less.” While the retail industry is less competitive in Canada, it does not guarantee success for Target despite their recognizable …show more content…
Target has many strengths as a company, which include high customer loyalty and brand awareness. Including in this are their logo and colors that are easily identified and heavily known. Consumer’s know a target employee by how they are dressed and can easily pick out a target commercial based on its colors and modern look. When a consumer see the logo, there is no confusion as to its meaning. Target also places their stores in numerous cities that are in favorable locations. Their stores provide customers with a one stop shopping experience where the customers can buy a large variety of products. Target’s merchandise and store layout is always consistent at each location which makes it easier for customers to find what they are looking for. Most importantly, Target already has Canadian shoppers that cross the border in order to shop at Target stores. If consumers are already willing to cross the border, then clearly Target has a strong and favorable position when locating in …show more content…
This threat is high because of the large amount of products that these stores sell. Having a wide variety of products allows you to have a bigger market share but also makes you susceptible to more competition. Stores like Kohl’s, Best Buy, and Payless are considered specialty stores and discount retailers so they have products that Target sells. Any customer could go to these stores over Target in order to purchase products. Wal-Mart and Costco are considered Target’s two largest competitors within regards to a super store. They offer almost everything that Target does and again customers could choose these stores over
Target Corporation operates general merchandise stores in the United States and has just begun opening stores in Canada. The company offers a wide variety of goods ranging from household essentials and furnishings to hardlines comprising of various forms of personal entertainment and apparel and accessories. Target has opened more than 20 of its 124 locations already and has received mixed feedback from Canadian shoppers. Retail pricing is on average at least 10% higher in comparison to US prices which compromises Target’s mission of “Expect More. Pay Less.” While the retail industry is less competitive in Canada, it does not guarantee success for Target despite their recognizable …show more content…
Target has many strengths as a company, which include high customer loyalty and brand awareness. Including in this are their logo and colors that are easily identified and heavily known. Consumer’s know a target employee by how they are dressed and can easily pick out a target commercial based on its colors and modern look. When a consumer see the logo, there is no confusion as to its meaning. Target also places their stores in numerous cities that are in favorable locations. Their stores provide customers with a one stop shopping experience where the customers can buy a large variety of products. Target’s merchandise and store layout is always consistent at each location which makes it easier for customers to find what they are looking for. Most importantly, Target already has Canadian shoppers that cross the border in order to shop at Target stores. If consumers are already willing to cross the border, then clearly Target has a strong and favorable position when locating in …show more content…
This threat is high because of the large amount of products that these stores sell. Having a wide variety of products allows you to have a bigger market share but also makes you susceptible to more competition. Stores like Kohl’s, Best Buy, and Payless are considered specialty stores and discount retailers so they have products that Target sells. Any customer could go to these stores over Target in order to purchase products. Wal-Mart and Costco are considered Target’s two largest competitors within regards to a super store. They offer almost everything that Target does and again customers could choose these stores over