{"id":58,"date":"2011-03-01T20:35:08","date_gmt":"2011-03-02T04:35:08","guid":{"rendered":"https:\/\/blogs.ubc.ca\/kathywong\/?p=58"},"modified":"2011-03-01T20:35:15","modified_gmt":"2011-03-02T04:35:15","slug":"target-again","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/kathywong\/2011\/03\/01\/target-again\/","title":{"rendered":"Target Again?"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" title=\"Target\" src=\"http:\/\/3.bp.blogspot.com\/_QF-H5oxJgVs\/TS8rfEtTj8I\/AAAAAAAAF2Y\/U7HB86TY10E\/s1600\/target.jpg\" alt=\"\" width=\"410\" height=\"307\" \/>http:\/\/3.bp.blogspot.com\/_QF-H5oxJgVs\/TS8rfEtTj8I\/AAAAAAAAF2Y\/U7HB86TY10E\/s1600\/target.jpg<\/p>\n<p>We mentioned pricing strategies in class today and so I started thinking about the stores around us and what kind of pricing strategies they use.\u00a0 I decided to look at a big box store that is going to enter the Canadian market soon and as I wrote about <span style=\"color: #ff0000;\">Target<\/span> earlier, I decided to do a part 2 for it (focusing on their price strategies)!\u00a0 We understand that <span style=\"color: #ff0000;\">Target<\/span> is known for it\u2019s economical prices and trendy merchandise and therefore we can see that <span style=\"color: #ff0000;\">Target<\/span> is focusing on a sales-oriented pricing strategy. \u00a0Sales-oriented pricing strategy was when the company focused more on increasing their sales and in turn will price their merchandise at a lower price in order to sell more in volume.\u00a0 Similar to their direct competitor Walmart, these big department or big box stores usually have their main pricing strategy as sales-oriented.<\/p>\n<p>Aside from their main pricing strategy, we notice that <span style=\"color: #ff0000;\">Target<\/span> may have used a combination of pricing strategies.\u00a0 Another pricing strategy that <span style=\"color: #ff0000;\">Target<\/span> may be using is the customer-based pricing strategy.\u00a0 This is when a company focuses on its customers through quality service and matching up with their customer expectations.\u00a0 <span style=\"color: #ff0000;\">Target<\/span> explained that they differed from their competitor Walmart as they had trained staff that was able to offer excellent customer service to help their customers when help was needed.\u00a0 Also, many customers are looking for more economical alternatives after the recession occurred (wealth-income effect) and therefore <span style=\"color: #ff0000;\">Target<\/span> was able to meet customers\u2019 needs (with products priced at a more economical price) in this way.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>http:\/\/3.bp.blogspot.com\/_QF-H5oxJgVs\/TS8rfEtTj8I\/AAAAAAAAF2Y\/U7HB86TY10E\/s1600\/target.jpg We mentioned pricing strategies in class today and so I started thinking about the stores around us and what kind of pricing strategies they use.\u00a0 I decided to look at a big box store that is going to enter the Canadian market soon and as I wrote about Target earlier, I decided to do [&hellip;]<\/p>\n","protected":false},"author":5570,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[],"class_list":["post-58","post","type-post","status-publish","format-standard","hentry","category-marketing"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/posts\/58","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/users\/5570"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/comments?post=58"}],"version-history":[{"count":10,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/posts\/58\/revisions"}],"predecessor-version":[{"id":68,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/posts\/58\/revisions\/68"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/media?parent=58"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/categories?post=58"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/kathywong\/wp-json\/wp\/v2\/tags?post=58"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}