Some companies last and last, others simmer through the years. Target has a strong company brand and does a good job of dealing with keeping up their image and having little controversy. In order for a brand to withstand years of business they must change with times and keep a good relationship with their customers.
Target is fortunate that they have a strong foundation as a company and can handle any problem that arises. Target hasn’t had many problems with controversy in the past but as long as they keep to their values and continue to handle controversy well they should be able to keep their image as a quality discount store.
Due to Targets wide variety of products they are able to appeal to all audiences. As Target grew in the past they added a grocery sections. Today they are focusing on style and satiability. Thinking about how times are changing and what customers are looking for is very important to Target stores success. Target needs to continue to think about their customers and what people want.
Good quality and a low price is important to people. Wal-Mart is a major competitor and the biggest difference is the image of the store. Wal-Mart tends to be crowded, packed isles, and long lines. Target is more spacious, well lit, and short lines. Another big part of image that Target does better than Wal-Mart is staying out of negative news. Wal-Mart is in the news more often for a person being injured in their stores which gives the store a bad image and customers are drawn away from their stores.
One thing Target needs to work on is growing to other countries. So far Target has not had great success in their expansion to Canada. In order for expansion I think Target needs to do more research about the places they are expanding to. Target explained that they stock their stores for what is popular to people in that area. In Canada they placed more hunting and fishing things and in Florida they have beach accessories all year long. More than knowing what products people in the given area want to buy, they need to know what products will sell best so that they can have large quantities of those items in their stores at all times.
Overall Target just needs to keep up what they are doing to make it through the next fifty years. As long as they remember what their beginning goals were; to sell quality products at a discounted price, and keep doing this customers will be happy to shop in their stores. Target is truly an iconic brand and will be able to succeed in the coming years.