Company Best
[Target Corporation]
[Retail Industry]
Content
RECOMMENDATIONS 3
APPENDIXES 7
Recommendations
Target has become an increasingly admired and imitated company worldwide ranking 33rd on the Fortune 500, which makes it bigger than Microsoft, Pfizer, and PepsiCo. A recent survey shows that 97% of Americans recognize Target’s brand image, which they see virtually everywhere from the web to the company’s 1,613 stores across the U.S. However, Target has had many strategic inconsistencies.
Target often advertises their products in a more glamorous light then is actually seen on store floors. This inconsistency between perception and reality can cause many consumers to doubt Target’s brand promise “Expect More. Pay Less.” Target should create advertising that markets fashion in a way that doesn’t miscue consumers’ perception. Continuous inconsistencies in merchandise decreases brand reputation. Consumers should know what to expect each time they enter a Target store. Target’s brand promise in advertising should equal the brand promise presented in stores. Moreover, Target’s partnerships with high-end fashion designers have become commonplace. Finding new ways to increase consumers’ expectations such as marketing comfortable yet trendy fabrics for everyday wear will ultimately increase sales growth.
Also, Target doesn’t always focus equally on their brand promise. Steinhafel, Target’s president, stated, “Sometimes we focus a little bit more on the ‘pay less’, sometimes on the ‘expect more’.” Target consumers expect to pay less for high-quality merchandise. If Target cannot fulfill all elements of t ...