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Taking A Look At Target Corporation

974 Words4 Pages

Introduction Target Corporation is one of the largest American discount retailers that offers large-scale food and general merchandise stores (Nolen, 2024). They currently have almost 2000 stores and 56 supply chain facilities in the US (Target, n.d.). Their retail location strategy is to be in neighborhoods and communities with online shopping capabilities and had a total revenue of $109 billion in 2022, with 5% of their profits being deployed back into communities (Target, n.d.). Target operates a corporate website referenced and a retail (e-commerce) website which can be accessed through https://corporate.target.com/. Discuss the tangible and intangible resources this firm has. Suggest which resources it can build and which ones it can …show more content…

Another intangible resource is the company’s ability to innovate the retail experience for its clients who are referred to as “guests”, doing this through adapting and disrupting the industry through omnichannel delivery options, and strong partnerships with Disney (Trainer, 2021), delivering on their slogan “Expect More, Pay Less” and their mission of “helping families discover the joy of everyday life” (Target, n.d.). Innovation is an area that Target can continue to build on to drive competitive advantage. Explain which resources are heterogeneous and immobile in this firm and why The Resource-Based View (RBV) is a framework that sees a firm’s strategic resources as critical to its performance and helps drive competitive advantage (Jurevicius, 2023). Jurevicius (2023) posits that there are two critical assumptions of the RBV; first, resources are heterogenous, assuming skills and capabilities of a firm are different from one company to another; the second is that resources are immobile and cannot move from one company to the …show more content…

Based on this analysis, discuss what leads to differential performance for any firm. Below is a VRIO for Target Corporation. Valuable: Target has an extensive network of physical stores and online platform provides convenient access to a wide range of products for customers (Target, n.d.). o The company's strong brand reputation for offering quality products at affordable prices creates value for its customers (McDonald, 2024). o Target's customer loyalty programs and personalized marketing efforts contribute to its perceived value proposition (Target, n.d.) • Rare: o Target's private-label brands and exclusive partnerships with designers add to its rarity in the market. o Target’s omnichannel solution delivers an exceptional experience for its guests (Trainer, 2021). o Target’s partnership with Disney (Trainer, 2021). Difficult to Imitate: Replicating Target's extensive physical store network and online platform would require significant capital investment and time, making it challenging for competitors to imitate. o The company's strong brand reputation and customer loyalty are built over decades and cannot be easily replicated. o Target's private-label brands and exclusive partnerships provide a unique assortment of products that competitors would find difficult to imitate without investing heavily in their own brand

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