Target - Swot Analysis
Strengths
As one of the leading retail companies in the United States, it is evident that Target possesses many strengths pertinent to the merchandising industry. These strengths are apparent in Target Corp.’s financial results. Target Corp. has honed in on providing customers with high-quality and innovative merchandise that keeps them coming back to see what the “next new thing” from Target will be. Another main component of Target’s strength is its low price for these high-quality and innovative products. Customers buy in to the “cheap but chic” motto, and keep coming back for more. This allows Target a uniquely strong market position. Target does not only have a few trendy items at low prices, their broad product lines and balanced brand mix are also available at competitively low prices. Targets private label line is their main point of differentiation from other retailers. Their private label product line is extensive and profitable. Target Corp. also has a strong environmental commitment that focuses on the stores surrounding communities and other humanitarian efforts. This impressible feature relays loyalty to the customers and the community’s wellbeing, making them more obliged to becoming a loyal return customer at Target while also attracting new customers. Target Corp. also has a healthy HR department that takes great care of its employees. Their job satisfaction and positive environment is relayed to the customers as they shop.
Weaknesses
Without weakness we can never learn to be strong. Target Corp. has its share of weaknesses. According to research on past sales, Target has had a difficult time calculating the demand for many of its products. This results in a loss of revenue and too much inventory. Target also has a weak international standing, very weak. There are many markets that are growing around the world and Target is not in them, while their competitors are.
Opportunities
Lacking in store numbers as compared to their
As one of the leading retail companies in the United States, it is evident that Target possesses many strengths pertinent to the merchandising industry. These strengths are apparent in Target Corp.’s financial results. Target Corp. has honed in on providing customers with high-quality and innovative merchandise that keeps them coming back to see what the “next new thing” from Target will be. Another main component of Target’s strength is its low price for these high-quality and innovative products. Customers buy in to the “cheap but chic” motto, and keep coming back for more. This allows Target a uniquely strong market position. Target does not only have a few trendy items at low prices, their broad product lines and balanced brand mix are also available at competitively low prices. Targets private label line is their main point of differentiation from other retailers. Their private label product line is extensive and profitable. Target Corp. also has a strong environmental commitment that focuses on the stores surrounding communities and other humanitarian efforts. This impressible feature relays loyalty to the customers and the community’s wellbeing, making them more obliged to becoming a loyal return customer at Target while also attracting new customers. Target Corp. also has a healthy HR department that takes great care of its employees. Their job satisfaction and positive environment is relayed to the customers as they shop.
Weaknesses
Without weakness we can never learn to be strong. Target Corp. has its share of weaknesses. According to research on past sales, Target has had a difficult time calculating the demand for many of its products. This results in a loss of revenue and too much inventory. Target also has a weak international standing, very weak. There are many markets that are growing around the world and Target is not in them, while their competitors are.
Opportunities
Lacking in store numbers as compared to their