What has Target done well over the years in terms of its integrated marketing communications strategy? What should it do going forward?
Target has undertaken everything considerably and effectively well required of deploying an integrated market communications strategy. The company’s message has been consistent across its market channels enabling the public to identify their brand the minute they see Target’s logo. Secondly, Target is the sponsor of major events, which enables the company to attain a great deal of recognition from the public. In addition, Target is able to identify distinctive consumers’ interests, prejudice, preferences, as well as demographics that indicate the concern the company cares for its consumers (Schlosser, 2004).
In order to reach and engage the interest of individuals who lead busy lives as well as the younger generation, the company has developed its online retailing website, which is able to appeal to more consumers as it increases the level of shopping convenience for the consumers. More so, Target has been effective and undertaken an outstanding job in combining marketing communication with advertising. Much further on, Target shifted its approach to reach more consumers through social media which helps construct and encourage consumers to reveal their preferences, experiences, and also further expectations and requirements. Another element the company has undertaken and prospered is through the provision of incentives such as discounts. For instance, the company offers the consumers a discount of five dollars for every thirty dollars spent on shopping in the store (Schlosser, 2004).
How does Target compete against mammoth Walmart? What are the distinct differences in their IMC strategies?
One of the distinctive variances between Target and its giant competitor Walmart are encompassed in their market peculiarities. The income and education levels, together with lifestyles of Walmart’s target market varies from the target market consumer of Walmart. Rather than keeping its prices considerably low in comparison to Walmart, Target simply sets the prices of its products at a decent price followed by retailing high-end fashion for a better price. In addition, Target permits its business partners to set the product prices whereas Walmart implements product price controls that they consider ought to be retailed at their stores. The dissimilarities of the two companies’ IMC strategies are very simple in the sense that Walmart lays emphasis on the low prices of everyday merchandize while the strategy employed by Target employs the ‘low-price’ strategy on high-end products (Steverman, 2009).
Did Target do the right thing by tweaking its message to focus more on value and less on trends? Why or why not?
At some point, the company had to alter its message conveyance to the consumers and general public. I believe that Target had no other choice but to tweak and alter its message to lay more emphasis on value and less on trends. This was a deliberate, planned course of action that can be deemed imperative for the business to react to the economic settings and lay more emphasis on value because Target was losing its consumer base and also its market share to Wal-Mart as also to other low price retail companies, such as Dollar General. At the end of the day, the consumers will opt for economical stores and also have a wish for saving. Reacting to this realization the company was forced to take into account the value it offered and not on the trends in the market as it would have failed to survive and ended up being obsolete (Kotler and Keller, 2012). Considering such practical disposition, it can be perceived that the company employed the right strategy.
Kotler, P., & Keller, K. L. (2012). Marketing management [VitalSource Bookshelf version] (14th ed.). Retrieved from https://online.vitalsource.com/#/books/9781323291016
Schlosser, J. (2004). How Target Does It. Fortune, October 18, 2004, p. 100.
Steverman, B. (2009). Target vs. Wal-Mart: The Next Phase. BusinessWeek, August 18, 2009.
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