Target Strategic Audit
This report examines Target Corporation’s performance in a detailed strategic audit. The audit includes an external, internal and strategic analysis as well as a recommended course of action. The findings of the audit recommend a robust on-line/mobile presence to complement in-store sales, and to increase future earnings to remain competitive by building upon physical assets, brand value and logistical capabilities.
The external analysis reveals that Target Corporation must address the threat of a growing online and mobile commerce (e/m-commerce) market. Shoppers’ behavior and the accompanying technology are evolving. Sociocultural and …show more content…
Retail merchandise: Target needs to extend its ‘cheap and chic’ flavor of merchandise over to the digital arena. Facebook and Twitter lay-outs are not subject to change, however the content and the nature of posts and tweets need to be aligned with the research findings as well.
Digital entertainment: Target is already offering streaming of movies and TV shows on targetticket.com, which is currently in beta testing. In addition visitors can also buy, rent or download media. Target needs to expedite the beta test and roll out the service with full support of multi-media marketing.
Intermediary services: Bringing third party sellers and buyers together will allow Target to increase its reach and revenue. The seller provides both the product and shipping to the buyer, the buyer pays the seller, and Target collects a commission fee. Therefore this segment is particularly profitable as a sale does not use up any resources of Target other than the already existing infrastructure that brings the two parties together.
Infrastructure: Additional servers are essential to maintain the greater than before number of products posts, visitors and transactions. More people are required to execute the many tasks of increased e/m-commerce ranging from procurement to distribution, from developers who will post products and product information, to customer service reps. More warehouses