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Target Analysis

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Presentation of Target's SWOT analysis and social media analysis

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Target Analysis

  1. 1. Target Josephine Porto Manuel Savino Ebony Wheeler
  2. 2. Culture •Target is the second largest retailer in the world and has massed quite the customer base. •Most consumers correlate some sort of brand association when thinking of Target (i.e. Red bullseye, white dog). •Target values ethics and morals •Target strives for employee satisfaction almost as much as customer satisfaction
  3. 3. SWOT Analysis Strengths • The company is very well known after Wal-Mart for the discounted retails of the item displayed • The stores covered area are of 95,000 to 135,000 square feet • The revenue of the company increases every year with the current revenue of $67.390 billion • The differential product strategy emphasizes more on quality products than that of discounted ones; this policy makes it different from its market rivals • Price matching of online retailers • Different payment options for customer like Target REDcard, Target Visa, and Target Card • Renewal of the appearance of the store
  4. 4. SWOT Analysis Weaknesses • The demographic is only focused in America (except Alaska, Hawaii, and Vermont), neglecting the need of global presence • Pricing perception. Over emphasis in quality makes its products rather expensive than its competitors • Brand popularity in stores is relatively low compared to its competitors • Litigation. Past legal cases has affected brand image
  5. 5. SWOT Analysis Opportunities • Expansion at global level, especially in emerging economies • Focusing on products which are having private labels. • Enhance efforts to be environmentally friendly • Increase advertising for private brands • Engage in exclusive designer partnerships • Diversify its grocery department
  6. 6. SWOT Analysis Threats • Increasing competition and changing economic scenarios • Dependent of US market • High level of competition in retail industry. K-Mart and Wal-Mart share the same place of service and almost same product range. • Annual government taxes and increasing interest rates • The inflation is forcing consumers to move towards low price rather than better quality.
  7. 7. Social Media Sites •Linked-in •Twitter •Pinterest •Vine •Facebook •Instagram
  8. 8. Social Media Sites (cont)
  9. 9. Social Media Sites (cont) •Target interacts with its customers to deliver a personalized guest experience. •Target frequently replies to its customers that reach out to them via social media. •Target highlights what is is selling through its social media and brings about brand awareness
  10. 10. Social Media Sites (cont)
  11. 11. Social Media Sites (cont)
  12. 12. Social Media Strategy Analysis The purpose for the use of social media is to increase brand awareness to different demographics.
  13. 13. Social Media Strategy Analysis (cont) Objectives Increasing: - Fans - Followers - Likes - Social awareness - Shares - Retweets
  14. 14. Target Audience ● Target offers a more upscale experience than its competitors by offering higher quality merchandise. Thus it tends to attract a younger and more educated customer. ● The median Target shopper is 41 years old. This is the youngest consumer of all wholesale retailers that Target competes with. ● The median income of the average Target shopper is roughly $63,000 ● 45% of that group have children and 80% have attended college
  15. 15. Target Audience ● Target’s use of social media is directed to its main demographic, families. ● The company’s social media posts typically involve the products they are promoting (mostly household items) and brings awareness to any sales or events the company may have. ● It also uses its social media to respond to customers
  16. 16. Analysis of Social Media tools Appropriate Tools for Target: ● Facebook ○ Disadvantage: Likes don’t guarantee consumers are seeing updates on page ○ Advantage: Easy to target specific markets with paid advertisements. ● Pinterest ○ Disadvantage: Could face copyright issues if sharing content that does not belong to Target without permission. ○ Advantage: Encourages online purchase decisions through pins made by the company.
  17. 17. Analysis of Social Media tools (Cont.) ● Twitter ○ Disadvantage: Requires to be updated multiple times a day which could be costly considering you need the labor for it. ○ Advantage: Easy to engage with their audience by retweeting and favoring user’s Tweets. ● Youtube ○ Disadvantage: Video production could be costly. ○ Advantage: Gives the company the opportunity to partner up with manufacturers to advertise their products (Ex. A customer buying a Pepsi a Target)
  18. 18. What is Target doing right? ● Target is active on all major social media networks ● Postings are well crafted posts that keep their audience entertained ● They address customer complaints placed on their social media sites and try to find them a solution ● Every post contains an image or video ● B2C and B2B strategies are used where they belong ○ ex(B2C on Facebook B2B on Linkedin)
  19. 19. What does Target need to improve?? ● Target lacks the involvement of their audience on social media ○ More interactive posts that engage their audience (ex: Poll on Google Plus) ● There are many profiles on Facebook that are location specific. ○ This may confuse the user. ○ Unnecessary redundancy ● More content on Youtube ○ Target uploads a video to Youtube once per month on average, more activity could yield more subscriptions
  20. 20. References ● Anonymous. (n.d.). mbaskool. Retrieved October 24, 2015, from Target Corporation: http://www.mbaskool.com/brandguide/lifestyle-and-retail/4911-target-corporation.html ● Kasi. (n.d.). Divi Target Corporation. Retrieved October 24, 2015, from Marketing Mixx: http://marketingmixx.com/marketing-basics/swot-analysis-marketing-basics/177-target- corporation-swot-analysis.html ● Target on Social Media – 5 Lessons from One of The World's Most Successful Retail Brands. (2012, August 29). Retrieved October 29, 2015, from http://www.socialmediatoday.com/content/target-social-media-5-lessons-one-worlds-most- successful-retail-brands ● 5 ways Target uses social to drive brand loyalty. (n.d.). Retrieved October 29, 2015, from http://www.imediaconnection.com/content/35459.asp#multiview ● How Target Markets to 138 Million Followers | Simply Measured. (n.d.). Retrieved October 29, 2015, from http://simplymeasured.com/blog/target-on-social-media-how-the-retail-giant- markets-to-a-social-audience-of-138-million/#i.18osaja97bfmer ● The Disadvantages of Using Facebook for Business Needs. (n.d.). Retrieved October 29, 2015, from http://smallbusiness.chron.com/disadvantages-using-facebook-business-needs- 38685.html ● The dangers of Pinterest. (n.d.). Retrieved October 29, 2015, from http://www.imediaconnection.com/content/32411.asp#multiview