RE: Target – New Entrant to the Canadian Market

This is a response to Derek Kwan’s blog post about Target’s expansion into Canada, which can be found here.

In his post, Derek suggests that Target’s expansion to Canada will succeed and that the chain will be a threat to stores like Wal-Mart, Sears, and Old Navy. However, one important thing to note is that Target is the new entrant to a competitive market where the major competitors have already established a very strong foundation. Target, on the other hand, might experience many issues through their expansion.

Target will be opening 125 locations spread throughout Canada.

Supply chains might be more difficult to handle due to the added barriers of transportation, taxes, and tariffs. Average Canadian Target store sizes are also only 30% of the size of their American counterparts.  Furthermore, moving to Canada will mean that Target must adapt to different consumer behaviour and responses. Whatever strategies served them well in the United States might not work as well in a different country.

If Target’s Canadian venture does fail, it wouldn’t be the first company to cross the 49th parallel only to be forced to withdraw within a few years. Canadian restaurant chain Tim Hortons experienced just this with their attempts to expand into Boston, Massachusetts. The franchise closed down thirty-six New England locations that it had opened after losing $4.4 million in one year.

As you can see from the advertisement above, Target loves Canada. The only question now is: will Canada love Target back?

Picture Sources: O Canada | Ontario Move

Is secondary research from online sources worth a company’s money?

There are many “Get Paid To…” initiatives on the web nowadays. There are even entire websites such as Lockerz, SwagBucks, and TreasureTroopers, which are dedicated to providing “offers” with varying reward incentives. These offers range from completing surveys, signing up for newsletters, and clicking advertisements in return for cash, credit, or a chance at a big prize. And how do websites such as TreasureTroopers make money? They’re paid by advertisers for their advertisements and marketing firms for their survey information.

But is information gathered from an individual wishing to quickly finish a survey for a quick buck reliable? Will someone really be affected by an advertisement they watch as a part of an offer on one of these websites? Should firms take this information seriously when considering choices for company growth?

An interesting point to note is that websites like TreasureTroopers often receive complaints regarding unaccredited offers. Get Paid To websites also often have hidden catches in the fine print – customers may not be able to claim their cash until they accumulate a certain of credit. Some are even known scams, claiming that completing offers will enter one into a draw for a non-existent prize. What can companies expect when using information compiled through such methods? Garbage in, garbage out.

Picture Source: Home Paid Jobs

What’s your personal value proposition?

This post is a response to Bill Barnett’s “Build Your Own Value Proposition” blog post on the Harvard Business Review Blog Network.

In class this week, we learned about value propositions and worked with the “to blank, our blank, is blank, that blank” format. However, we labeled value propositions as something that companies use in marketing. This is why reading Barnett’s blog post was mind blowing. Value proposition statements aren’t only useful to companies; they can be used on a personal level by someone applying for a position. Barnett gives the example of an individual Steve who applies for a manufacturing executive position.

Now, excuse me as I go off on a slight tangent, but this blog post really made me think back to the Sauder Student’s Workshop to Success on Imagine Day. Ann Stone, a marketing professor, was our speaker and what she had to say to us students was truly entertaining. One remark which she made that stuck with me was this: “Every day, you are all marketing yourselves.”

You don’t have to be a marketing major to be marketing yourself. At a networking event for PwC or KPMG, an aspiring accountant isn’t going to be auditing – they’re going to be marketing themselves!

So now that you think about it, what is your personal value proposition?