Target Resources Corporation
Target Corporation could pursue many strategies to maximize success in their market. This paper details a new strategic plan intended to improve Target Corporation’s financial position by capitalizing international and domestic opportunities. Target Corporation is currently delivering higher quality products and experiences to a variety kinds consumer than its competitors, and it allows Target to have advantages in the competitive environment. The combination of these results produces unique data in financial performance.
Some of Target Corporation greatest strength is its unique, innovative products and a long lasting relationship with customers based upon loyalty which makes Target Corporation America second most favorite shopping store for customers. There are a few opportunities available for Target Corporation, and that mean maximizing resources, retail markets at an international level, this would allow Target Corporation to have the upper hand in the current market environment. China, India are having an emerging economy and provide a great opportunity to Target Corporation to exploit its markets because of the country large customers base.
Today’s retail business is advancing with the ability to purchase items online, and stores such as Target are having this option available to consumers, meaning they can shop online, compare prices and able to pick up immediately at the store. Consumers considered this to be the best of both worlds. Despite Target Corporation has experienced an expected downturn in sales after the security breach in 2013, concentrating on specific areas like improving security and listening to our customers will benefit Target in the long run and allow it to stay ahead of the competition.
This strategic plan for Target Corporation includes ten recommendations based on extensive analysis drawn from the IFEM, EFEM, CPM, SWOT analysis, IE matrix, SPACE matrix, BCG, QSPM, Perceptual Maps, Ratio Analysis, organizational structure, and projections.
With this strategy, Target Corporation is on the road to a redefined retail store, with new strategic planning for overall successful guest experience. Target’s mission is to meet the needs and expectations of their guests. I believe we are going to see Target having a major restructure that will make the company highly profitable and on their way to a very prosperous company. The innovations and smart planning will have a substantial positive impact on the company making Target Corporation the best company ever for their team members and guests.