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Target Presentation

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Target Case Competition Fall 2010: Back To College

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Target Presentation

  1. 1. “Back to College” 2012| Team Eye of the Bull | Target Corporation | December 7th, 2010
  2. 2. AgendaPre-Analysis– Industry Trends, Competition, SWOTTarget MarketsRecommendationsPost-AnalysisConclusion Team Eye of the Bull | 2
  3. 3. TrendsDesigner Partnerships– Unique & stylish designs at low prices– Started in clothing & now expanding– Enticing strategy for retailersMobile Apps– Smartphone and mobile app use is on the rise– Competitors: IKEA and Walmart have strong following Team Eye of the Bull | 3
  4. 4. Competitors • Offers a variety of products, with areas devoted to linens and home goods • Has strong designer relationships (ex: Vera Wang and Elle) Kohl’s • Strong presence on social media sites • Large assortment of low-price, high-quality bedding and furniture options • Displays products in simulated rooms IKEA • Extremely low prices • Recently added grocery and fresh food options, creating one-stop shoppingWalmart • Uses crowd sourcing on Facebook to initiate deals for customers Team Eye of the Bull | 4
  5. 5. Pre-SWOT Strengths Weaknesses• Brand is highly recognized • Prices are higher than the competition• Differentiation through strong • High dependence on China as a supplier merchandise assortment• One-stop shopping appeals to busy guests TARGET Opportunities Threats• Growing market for electronics • Recent economic decline causing a•Mobile and electronic commerce decrease in discretionary spending • Increasing overlap in product assortment• Increased presence in food and grocerythrough Pfresh stores Team Eye of the Bull | 5
  6. 6. Target MarketPrimary Market: College Students– Millennial generation, low incomes– Motivated by peer-group Long-term usability & varietySecondary Market: Parents Stylish– Encompass core target guest– Middle to high income Low Price– Motivated by relationship with children Team Eye of the Bull | 6
  7. 7. Transitioning from home to dorm to apartmentAttract guests with new designs,customizability, and added functionalityReach out to guests through technology usingnew tools and engagement opportunities Team Eye of the Bull | 7
  8. 8. Designer Lines: Recommendation 1 Mod Vintage Funk MICHAEL VAN DER HAM Team Eye of the Bull | 8
  9. 9. Marketing CommunicationsCapitalize on appeal of IKEA’s in-store displays– Primary market: 71% indicated Very Appealing or Appealing– Secondary market: 58% indicated Very Appealing or AppealingUtilize in-store TVs with designer videos– Better facilitates guest experience– Guest can visualize transition from dorm or apartment Team Eye of the Bull | 9
  10. 10. Evaluation of Recommendation Disadvantages Benefits Team Eye of the Bull | 10
  11. 11. Roommate App: Recommendation 2 Schedule Design Cook • New focus as a • Virtual room • Interactive meal- daily planner and design planning and schedulizer • Online Catalog recipe sharing • Ability to share showcasing • Transitions from events or keep designer line dorm to them private products apartment (full kitchen) Team Eye of the Bull | 11
  12. 12. Evaluation of Recommendation Disadvantages Benefits Team Eye of the Bull | 12
  13. 13. Expanded Marketing StrategyNationwide poster contest– Create partnerships with design schools– Designs submitted through online crowd sourcing– Supports Target’s community initiatives“Back to College” Catalog– Show transition from dorm to apartment– Designer profiles, Direct mailing Team Eye of the Bull | 13
  14. 14. Measures of SuccessDesigner Lines Roommate App Poster Contest• Sales volume • Downloads • Number of• Guest feedback • Number of daily designs submitted• Revenue users • Votes• Gross margin • In-app purchases • Poster sales • App ratings Team Eye of the Bull | 14
  15. 15. Next StepsJune 2011 Oct-Nov 2011 March 2012 April-May 2012 June 2012• Start to • Approach design • Launch • Voting opens for • Setup in-store collaborate with schools about Roommate app poster contest displays designers poster • Poster • Poster winners • “Back to College” competition competition announced 2012 products are • Finalize designs submissions due • Catalog is available and send to available production Team Eye of the Bull | 15
  16. 16. Post-SWOTThreat of product overlap becomes mitigated– Differentiation through strong merchandise assortment, enhanced by designer partnershipsOpportunity becomes a strength– Strong presence in mobile and electronic commerce Team Eye of the Bull | 16
  17. 17. ConclusionOpportunities for DifferentiationBig Idea= Feasibility + Long Term GrowthRecommendations fit with Target’s core guestand targeted marketsEnhances potential for customer loyalty andincreased brand equity to the Target brand Team Eye of the Bull | 17
  18. 18. Big Idea emphasizes differentiation, customizability,and added functionalityDesigner Lines: Stylish, low price optionsRedesigned Roommate App: Creates a strength,increases convenience, creates bond with guestExpanded Marketing Strategy: Crowd sourcing used tofurther connect with segment, increasing awarenessNext Steps: Outlined for “Back to College” 2012, withprojects beginning in June 2011 Team Eye of the Bull | 18
  19. 19. BibliographyClark, Don. Guest Lecture. Business Communication. University of Minnesota, Minneapolis, MN. 20 Oct 2010.Edelson, Sharon. Pop Goes The Retail. Womens Wear Daily; 12/14/2009, Vol. 198 Issue 123,Perez, Sarah. "Teens Still Love Texting, But Mobile App Use Is Growing." ReadWriteWeb - Web Apps, Web Technology Trends, SocialNetworking and Social Media. 14 Oct. 2010. Web. 30 Nov. 2010. <http://www.readwriteweb.com/mobile/2010/10/teens-still-love-texting-but-mobile-app-use-growing.php>.June, Laura. "Nielsen: Android Makes Huge Gains in US Smartphone Marketshare, RIM Takes a Backseat, Apple Leads in Desirability."Engadget. 1 Dec. 2010. Web. 02 Dec. 2010. <http://www.engadget.com/2010/12/01/nielsen-android-makes-huge-gains-in-us-smartphone-marketshare/>.Kearns, Kevin. "Generation Grid." Brand Mercenaries. 2008. Web. 30 Nov. 2010.<http://www.brandmercenaries.com/generationystats/generation-grid/>.Sutherland, Ed. "Analyst: Apple Leading Mobile App Usage Increase | Cult of Mac." Cult of Mac | Apple News, Reviews and How Tos.Cult of Mac, 09 Sept. 2010. Web. 30 Nov. 2010. <http://www.cultofmac.com/analyst-apple-leading-mobile-app-usage-increase/58530>.Target Corporation. (2009). 2009 Annual Report: A Fresh Approach. Web. 23 Nov. 2010.<http://investors.target.com/phoenix.zhtml?c=65828&p=irol-reportsannual. November>."Target Corporation: Company Profile." Datamonitor. EBSCO, May 2010. Web. 23 Nov. 2010. <http://www.datamonitor.com>.Smith, Sandra. “Target Case Study: Back to College.” Minneapolis: University of Minnesota, 2010. Team Eye of the Bull | 19

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