Target Corporation is the biggest discount retailing business in the US which comes just after Wal-Mart Stores Inc. The headquarters are located in Minneapolis in Minnesota in the USA. George Dayton founded it. It initially started as a family business with a regional retailer shop and later grew into a national full retailer store. The company’s main aim is to offer retail services at friendly rates and, its main attracting feature is discount rates offed on different products in the business. The company has indicated tremendous growth in the retail business. It has a target to outgrow its market and achieve competitive advantage over its competitors. This essay seeks to discuss the competitive analysis and competitive benchmark as well as the lifecycle analysis of the Target Corporation.
Competitive Analysis for Target Corporation
For Target Corporation to achieve a competitive advantage over other companies, it focuses on its strengths, weaknesses opportunities and threat it corporation has. The company had to be the second largest retailer shop in the US; it has many advantages that come along. The customers well acknowledge the company and its brand have been well established.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware product.
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... with significant policies. They should be adopted in the daily routine. The plan mainly focuses on the strength, weakness, opportunities and threats of the entity. Target Corporation should also concentrate on the competing companies and borrow ideas to improve on the products produced. To ensure that they products sell in the market and to ensure that they create a healthy competitive advantage, it should incorporate the trending methods in the society. A precise analysis should be conducted before the critical policies are enforced.
Target Corporation Company, experience big competition from Wal-Mart and k mart retailing companies. The business also experience competition in the e-commerce business in the sale of products. For the company to maintain it competitive advantage it has to analyses its weakness and incorporate opportunities available.
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