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
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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
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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
As compared to its rivals, Target has presented its brand as a middle-class brand which assists in attracting customers that find other stores like Walmart unpleasant
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
By the year of 1966 the company expanded by opening two new stores in Denver, Colorado. Within four years target had 17 stores in four states closing the decade with 40 percent average growth and $100 million in annual sales. In the 1970s a primary focus for target was reinvestment in its employees. Starting in the year of 1989 all employees had been trained through a course called “ Target U” this trained target employees to treat customers like guests, and to generate a fast, friendly, and fun shopping experience for their guests.
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).
According to www.targetcorp.com, Target is an upscale discount retail chain that sells quality products at attractive prices, and prides itself on clean, spacious, and guest-friendly stores. Target is the second largest "general merchandise" retailer (behind Wal-Mart); selling almost anything one would need to complete the "one stop shop", especially with the addition of the SuperTarget stores. The first Target opened in Roseville, Minnesota in 1962. Since then, 1,330 stores located in forty-seven different states, which includes the 141 SuperTarget stores, have opened nationwide. Target also has twenty-two distribution centers located in nineteen states. In addition to the vast number of store locations, Target also has other businesses that include: Target.com, Target Financial Services, Associated Merchandising Corporation, and Target commercial Interiors. Through all the key businesses, Target employs nearly 300,000 people from diverse backgrounds. The current Chairman and CEO of Target is Bob Ulrich.
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.
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.
The results of having happier employees’ means customers will want to shop their more and more, which will increase sales and allow Target to make more money as a corporation each
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
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.).