The industry that I have chosen is Target. They are widely known in Australia and provide many jobs in the community. A recent article caught my attention and it highlighted that target made cuts while it rearranged its headquarter staff in North Geelong, Victoria. http://www.geelongadvertiser.com.au/news/geelong/target-australia-refuses-to-comment-on-possible-job-losses-after-management-restructure/news-story/a86e16f1dbb6dc9e6dc04757c77bf576 Target is a huge shopping industry in Australia with over three hundred stores easily accessible to the community. Target offers a diverse selection of men’s, woman’s and children’s clothing, footwear, accessories, homeware, decor and a range of toys. It provides “…employment for over 23,000 team members …show more content…
In the United States, Target employees were interviewed on their treatment while working at the store and the results show that the employees were unsatisfied with their treatment. Some address that while they were working they were “…threatened with a write up that would go in our permanent record…” if they didn’t finish all their duties on time (Target Employees Speak). Targets’ has huge reputation and therefore any bad publicity that is issued to the public becomes widely known and is spoken about within the community. These articles that are issued become a threat to the business which can affect their revenue. Another threat to Target is their tough competition with Walmart and K-Mart. These establishments both share similar product range which then develops a competition of the lowest prices between them. It is difficult for Target to compete against industries that are bigger than …show more content…
Target is actively using social media to reach out to their customers. Technology plays a role in this too, Target has released a mobile app for those who would like to shop while on the go (Marketing-Target). Target can not control the so called trends and the technology that is developed however, they can embrace it. Their use of social media effectivity reaches out directly to the customer which can focus on the younger generation. Social and Technological implications provide opportunities for Target to market their products against their competitors. Another opportunity for the organisation is to expand their stores. They have the ability to expand to other continents since they have not done that to a huge degree already (Marketing-Target). Overall, the company is throughly active in the community and on social media which expands their image. Their sales represent that they are increasing their profit and revenue each year. However, there are some economical factors that can disrupt the business significantly. These factors are out of the business’ control and they therefore have to balance it out by increasing the price that they provide to the consumer. In turn this can affect their slogan, Expect more, Pay
As I have outlined in the charts below, there are various similarities and differences between Wal-Mart and Target. Wal-Mart is Target’s primary competitor, and vice versa. Wal-Mart has a strong market presence in its global markets and has a diverse range of products and services that are affordable and available in stock. Target, on the other hand, does not have a strong market presence or efficient product supply; however, Target’s physical environment and innovative products further the brand’s image and value. Unfortunately, Target and Wal-Mart are both e-commerce laggards with major competitors such as Amazon. Target faces complications with their pricing strategies and their product availability, which hinders their strength when competing
According to Kantar Retail, most of Target’s shoppers are younger on average than its rivals, and more educated. That means it has to consistently offer something different and appealing; it emphasizes more on the latest-trend apparel, eye-catching home décor and exclusive designer merchandise than its competitors. This results in a willingness to pay a bit more for items by customers who are willing to pay a bit more. Moreover, this successful
For example in the economic forces they work to provide higher end discounted items to keep the profits up by allowing shoppers to have quality and cost savings. In the technological forces, Target has used the increase use of mobile platforms to allow their customers to shop online and pick up in the store by saving time. With the political-legal forces Target works to provide a safe and non-discriminating environment for all customers. Environmental forces are taken in to effect by looking at better waste recycling management to decrease their carbon footprint. Target works hard to represent the values and mores of their customer base, by being actively involved within the community and addressing current social
Target is an Equal Opportunity Employer and shall not discriminate against any worker based on race, color, age, gender, sexual orientation, religion, ethnicity, disability, political affiliation and national origin. Target will adhere to all laws relating to non-discrimination, wages, hours, working conditions, pension and welfare benefits plans, sexual harassment and other terms and conditions of employment. Discrimination is strictly prohibited.
Target, the nation's #2 discount chain, now operates more than 1,500 Target and Super Target stores in 47 states, as well as an online business called Target.com. Target and its larger grocery-carrying stores, Super Target, have carved out a niche by offering more upscale, fashion-forward merchandise than rivals Wal-Mart and Kmart. After years of struggling to turn around its Marshall Fields and Mervyns departments stores divisions, the discounter sold them both in 2004. Target also owns apparel supplier The Associated Merchandising Corp. and issues Target Visa and its proprietary Target Card (www.Answers.com/topic/target-corporation).
Target’s collection and possible sale of private information could go against basic principles of confidentiality since people trust that they are not revealing information that is confidential. One expects that their personal information is protected and not just provided to anyone who is willing to pay for it. At the same time, people expect Target not to be buying influence ...
1. The Discount Department Store. Target prefers to be called as the latter instead of just department store. Expect more, pay less. With this tagline, the customers expect to purchase more items and pay the least amount possible. Not like other retail industries like its competitor Kmart and Wal-Mart, Target maintains retail value in terms of product offerings. They are known in their designer’s items in clothes, exclusive beauty products, categorized and functional goods, and seasonal offerings. It also sells the greatest number of gift cards among its rival business.
This is currently a touchy subject in regards to Target, because over Black Friday this last year many shoppers had their credit card information compromised while shopping in stores. This has caused sales to go down slightly, as customers are unsure as to whether or not they were affected and for how long they had potentially been compromised. However, even with this issue Target is still seeing growth within their sales, by 47.88% this current quarter (Hoovers, 2014). This has a positive impact on market equilibrium, because it means that as a whole, they are doing well in terms of managing their supply and demand which can impact how well they are
Target is one of the America’s top retailers, but still has a few things that can be improved upon before it can overtake its top competitor. Although Target may not be the top ranked retailer at the moment, it’s not hard to see why this company has stood the tests of time and continues to thrive today.
As the second largest discount retailer in the United States, Target has 1,796 stores in the United States with a total of 38 distribution centers (Corporate Target, 2016). As of 2016, Target has a total of 341,000 employees. George Dayton founded Target, formerly known as Goodfellow Dry Goods, on June 24, 1902 in Minnesota. On May 1, 1962, Goodfellow Dry Goods became Target. The major products that Target offers to customers are clothing and apparel, toys, home appliances, furniture, electronics, entertainment products, and healthy and beauty products. Target retail outlets can be found both online and offline. Target is known for its discounted prices and great customer service. The guests that walk through the doors of Target
Target is proving that they are not just a regulated retail business and that they aren’t just in it for the money, rather they are here to provide service to customers inside stores and in local communities. They do many things to help drive better education like “buddy reading” where employees read to kids and they have given away $875 million dollars since 2010 just for educational purposes in our local communities. Target also partners with NAAPC and DiversityInc who strive to create an innovative environment through diversity in the working field. Target is clearly on the right path with corporate social responsibility and is leading by example in ways to truly make this world a better place. It isn’t just about making money businesses goals shouldn’t be about making the most money at all cost but rather it should be altered to shaping and changing the lives of our youth and future generation
Organizations have to keep a tight controls over the amount risk the business is exposed to (Fraser & Simkins, 2010). Exposure to risk incidents have a negative impact on a business in multiple ways. Target stores are in the retail industry. The retail industry employs thousands of employees yearly (Angell, 2011). One risk exposure that can happen in retail with having so many employee is work related injuries.
The main one is the established and loved brand name that is well liked by customers. Along with this, Target has the perception of being a fun place to shop that comes with an experience. Unlike Wal-Mart, Target has the ability to position themselves as a middle class, hip and more fashionable store to shoppers of this generation (Target Corporation SWOT Analysis, n.d.). Target’s weaknesses include tis business model based on supercenters and other big box stores which make it more difficult for them to reach shoppers who appreciate the smaller convenient stores. Along with this, they have been unable to change their business model to adapting times (Target Corporation SWOT Analysis, n.d.).
In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation.
As a result, the company saves major dollars each year in advertising, leading to increased profit margins. Certainly, the company's superior product and s...