Target SWOT Essay
Natural Barrier to Entry – Oligopoly Market The large scale retail sector has become fairly oligopolies in nature. There are few giants which rule the sector and are able to provide products at very subsidized rates to consumers. This creates a natural barrier of entry to new firms which might want to penetrate into the market share. 3. Convenience The stores are spread far and wide across the country and they provide most of the goods a consumer may ask for. Be it food or furniture, toys or medicine. It has something to satisfy everyone’s needs and are never out of reach. . Product Diversification The point that it has something to satisfy everyone’s needs entails that the firm Hough deals in consumer goods, these goods themselves have different markets or even sectors of their own. For instance, if the supply of farm produce decreases during a particular year due to some climatic reasons, it would not hamper the business at target as a whole, it can rely on its other sections like electronics, or home improvement goods. Thus we see that product diversification serves the stores well. Weaknesses 1 .
Weak Online Presence – Reliance on Stores The market has
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Though Target has been successful in the US, it has not been able to leave its mark in the international market, its venture in Canada has been far from successful. This raises serious questions regarding the adaptability of the company to different arrests, a problem it would have to overcome if it needs to rub shoulders with its biggest competitor Walter which has already established itself in the global markets. Opportunities 1. New Leadership Target has recently acquired new leadership in the form of Brian Cornell.