Target Corp’s Competitive Advantage
Target continues to have a competitive advantage over its rivals. Their affordable prices catch the eye of customers that have been locked in for years. The corporation purposely lures in new customers and onlookers that shopped consistently with their competition.
The corporation has managed to satisfy their customers over the years by exactly finding out their likes and dislikes and fulfilling their consumer’s needs. As the customer’s needs change, so does their customer experience at Target. This is a sure way to obtain a consistent profit and to constantly win over their competitors. This approach also gives insight to the fact that the corporation tracks and measure process frequently.
Not all of Target strategies work perfectly. When Target chose to compete in the Canadian market back in 2013, this strategy didn’t seem to go over well. In 2015, 124 stores were pulled. It seems like they just need to stick to their mission of satisfying the needs of their customers. If they do, there is no doubt that the Target Corporation will continue be success in the retail industry for decades to come.