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Target's Rivalry In The Discount Retail Industry

439 Words2 Pages

Rivalry in this industry is very high due to the huge number of competitors and the slow growth of the industry. In the US, discount retailers must compete with each other, and other retailers such as supermarkets, wholesale clubs, online retailers, category specific retailers as well as drug stores. In addition, most of the products offered by these retailers are homogeneous and therefore the retailer are forced to compete on price. In the discount retail industry, the differentiation in products are minimal and therefore there is high rivalry among the competitors. Companies like Target must be innovative in order to come up with creative differentiation styles from their competitors. Additionally, companies in this industry have to use partnerships in order to diversify the products offered to customers such as low-cost or high style attires among others. Additionally, the store have to be strategically located, they have to have lots of car parking space, and stress-free to navigate arrangements, provide excellent goods and cost effective prices in order to remain competitive in the industry
Marketing Strategy
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The company product description includes non-durable goods such as beverages, foods, and pharmaceutical products. Secondly, the company deals with durable goods including accessories, apparel, and shoes for different ages, furniture, entertainment products for different ages, home supplies, and electronics. In addition, the company provides its customers with health and beauty products, school and office materials, automotive equipment and musical instruments. In addition to these products, Target offers its customers services such as clinic health, photo and portrait shops, optical pharmacy among

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