Agenda Task Research TargetThreshold SWOT Recommendations Summary SWOT
- Slides: 36
Agenda • • • Task Research Target/Threshold SWOT Recommendations Summary SWOT
Task Improve the awareness of Target’s Threshold brand through an Omnichannel marketing strategy
Research • Primary Research – Store Visits • Wal-Mart – Mainstays brand • CVS – Clearly defined aisles and end-cap promotions • Kroger – Most common items in back of store • Target – Separate, but defined – Online Visits • Kohl's – Cluttered online appearance
Research • Secondary Research – Retail Overview • 1 million outlets with a $5 trillion annual revenue (Hoovers). • Discounted department stores – 5, 000 stores – Annual revenue of 120 billion (Hoovers). – Target Overview • • Second largest discount retailer in US Annual sales of $73 billion Discount promotions 40 yr old woman; well-educated; $64, 000
Target/Threshold SWOT
Target/Threshold SWOT Strengths ØBrand Equity and guest loyalty ØHigh-quality and innovative products ØThreshold Middle-market price range ØWide diversity of products within Threshold brand Weaknesses ØNo international presence ØHacking of credit information hurt Target’s image ØLack of Threshold brand recognition ØLack of major advertising campaign for the Threshold as a whole (no apparent storewide launch) Opportunities ØExpanding presence in new as well as existing markets, especially within ecommerce ØAppeal of Threshold to a large set of demographics in middle-market price range Threats ØIncreasing overlap in product assortment ØCompetitors trying to move into a more upscale image while aggressively lowering prices ØMultiple competitors with price ranges ØLack of major awareness despite Target brand strength
Recommendations Online Store Promotion s
Meet Donna Income: $64, 000 42 years old 3 Kids Always on the go
Online Recommendations
Online Recommendations The Design Studio App
Online Recommendations Login to your Design Studio profile. My Threshold Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Donna Smith Username: Smith. D Password: *******
Online Recommendations My Threshold Upload a photo of the room you would like to decorate. Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations My Threshold Insert dimensions of room you would like to design. Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations 10 X 16 2 X 2 4 2 X 10 X 16 3 X 4
Online Recommendations My Threshold Identify which products you would like to insert into your room. Inventory numbers for each product will be shown for the Target nearest you. Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations
Online Recommendations My Threshold Upload Room Dimensions Different style ideas you can achieve for your room décor. Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations My Threshold Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations My Threshold Upload Room Dimensions Target Stories are testimonials of other Target consumers expressing their achievements within the studio. Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations My Threshold Upload Room Dimensions Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Online Recommendations My Threshold Upload Room Dimensions Locate a Target Store and then purchase your items Inventory Styles Target Stories Store Locator Purchase Welcome to The Design Studio
Store Recommendations
Store Recommendations
Store Recommendations QR code scanner
Store Recommendations QR reading on all applications. Use code to pull up your account on in store screen as well as scan codes of products in store.
Store Recommendations Donna Smith Username: Smith. D Password: *******
Store Recommendations Target Team Guest
Promotion Recommendations
Promotions Recommendations Promote Threshold brand through Property Brothers
Promotions Recommendations Promote Threshold through social media channels such as Twitter, Instagram, Pinterest, and Facebook
Promotions Recommendations • HGTV Promotion – Dream Home Giveaway • Digital media market strategy – Adware – Search Engine Optimization – Social Media
Summary SWOT
Summary SWOT Strengths ØInnovative technology ØAllows guests to shop at home and streamline the process ØAbility to decorate an entire room with all threshold product ØAllows guests to see people like them can decorate a small or large area Weaknesses ØPeople must learn to use this technology and application ØLack of social media awareness or usage on phones ØGuests may not believe they can decorate a whole room on their own Opportunities ØGain new guests through online shopping ØPotential to sell more products and keep people in the store longer, leading to more sales ØGain new guests through innovative technology and promotions Threats ØWebsite difficulties ØErrors with the application ØScreen difficulty ØCompetitors
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