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Business Strategy Recommendation

In: Business and Management

Submitted By cmeal84
Words 1910
Pages 8
As consumers, we appreciate convenience, competitive pricing, and instant gratification when it comes to shopping. Target Corporation is a general merchandise retailer that has done a good job giving consumers what they want via their retail stores. They began as a traditional brick-and-mortar store and quickly expanded, adding stores across the country along with a strong internet presence to support their stores. Their largest competitors are both internet and brick-and-mortar stores, which has created some difficulty for them in terms of focus. In order for Target to reach their full potential and realize significant market gains, they will have to expand their internet business by setting themselves apart from their competitors. In doing so, Target will be able to build a stronger customer base online, and ensure relevance in the heavily web-focused future. Target first opened its doors in Minnesota in 1962 with a focus on convenience and competitive pricing. Today, Target has nearly 1,800 stores across the United States and 127 stores in Canada. Their original focus on pricing and convenience still remains Target’s focus today, with their current slogan being “Expect More. Pay Less” (Corporate Fact Sheet, 2013). Target is a discount retail store that sells groceries and a wide range of merchandise and household goods while priding themselves on innovation. The US Department of Labor describes the industry as “unique in that they have the equipment and staff capable of retailing a large variety of goods from a single location.” (2014) Target’s biggest retail competitor is Walmart, who sells similar items but claims to be the “Low price leader.” Target is a local based company with ample opportunities for improvement. They have been struggling recently due to their online data breech, which has left consumers leery about fully trusting them again....

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