Target Potential Strategies

In the USA the Target Corporation is the 2^nd biggest discount retailer behind Walmart.  In annual revenues, the Target Company generates over 70 Billion dollars. The broad range of the services and products are available in the Target stores. The sales of the Target Corporation consist of furnishing décor, home, pet supplies, food, accessories, apparel, hardlines and household essentials. The Target is a chain of the upscale discount that provides trendy merchandise at low prices. The primary activities of the company are quality assurance, production, operations, planning, market research, promotions, advertising, sales and marketing and customers services. The competition with Walmart is the core issue of the Target.

The strategic choices of the Target are Expansion into Super Targets, Drive-through Pharmacies, better style, more trendy clothing and higher quality. In 1962 the 1^st store of the Target was opened by the Dayton Company. In the United States, there were other chains of the discount at that point today numerous of them do not exist. The Target Corporation was capable of familiarizing itself with the varying environment and in the United States of America, it was the 2^nd biggest retailer company by 2002. From the many other discount retailers, it seems at how this company differentiated itself. The Target Corporation is efforts on branding, advertising and merchandising (Walsh, 2016).

Strategic business units of Target Corporation are target retail merchandise, Target pharmacy, and target food centers. Target Corporation in 2015 should emphasis on its most functional value making opportunities. In fact, Target Corporation may be capable to revitalize the industry more rapidly by shutting down its operations in the Canada. For Target Corporation the potential grand strategies include diversification, Concentric, Horizontal integration, backward integration, forward integration, product development, market penetration and market development. The concentration of the Target Corporation is in the current products and markets, powerful competitive position for the reason that the ability of the company to raise the sales increases their competition. The Target Corporation has strength in the industry, environmental stability, competitive advantage, financial, reputation, large convenient stores and efficient distribution system.

The Target Corporation is a financially strong organization that has skilled a stable rate of development for the reason that customer’s requirement for general merchandise will carry on to become and grow more comfortable. Target Corporation is open strategies that are the most attractive for the organization to chase, with market penetration strategies and market development. The consequences of the strategies that are integration exposed that horizontal, backward and forward strategies the same for these strategies on the other hand Target might deliberate purchasing a fragile competitor. Target Corporation could deliberate adding products that are new related to their existing line of the product.

After a study of the potential strategies and potential grand strategies for the Target Corporation, we know that the company has the most attractive approaches to be market development and market penetration. Now I would like to recommend some strategies that are beneficial for the Target Corporation that unique advertising is good for the organization. For creating products that are innovative invest in R&D. For Target stores division the organization should start an annual goal to raise sales revenues. Online advertising is also beneficial for Target Corporation. The department of development and research should increase its struggle to gain quality discount products based on the consequences of the investigation from the marketing department (Jabbar, 2007).

References

Jabbar, G. A.-M. (2007). Target Corporation. Riyadh: King Saud University.

Walsh, T. (2016, January 31). Will 2016 Be Target Corporation's Best Year Yet? Retrieved August 31, 2016, from http://www.fool.com: http://www.fool.com/investing/general/2016/01/31/will-2016-be-target-corporations-best-year-yet.aspx