For almost a year, there has been hype over Target Corporation’s entry into Canada. An American retailing company, Target has had much success in the U.S., generating a revenue of US$73.3 billion in 2012. [1] According to Forum Research, however, only 27% of Target Canada’s polled customers claimed to be “very satisfied” with their experience at the store. [2] What was Target Canada doing wrong?
Comments posted by customers on business.financialpost.com last month highlighted the following issues:
- lack of stock / poor selection of products
- noncompetitive pricing
- poor quality of service
On September 6, Target announced that the company will be working to increase sales in healthcare, food, beauty, and paper, and to adjust inventory and in-store staffing . [3]
Target has put the Urgent-Important Matrix to use. While keeping focus on increasing profit on a long-term scale by improving product categories with slower sales – an important goal – the company is also addressing issues that directly affect customer satisfaction based on recent customer feedback – a critical activity.
Although we have yet to see the results of Target’s plans, we can clearly see the Urgent-Important Matrix put into action by a major corporation.
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[1] “Target Corporation”
[2] “Target Losing Ground with Canadian Customers as Satisfaction Levels Reach New low”
[3] “Target to open 23 more stores in Canada, including its first in Quebec and N.S.”
Works Cited:
“Target Losing Ground with Canadian Customers as Satisfaction Levels Reach New low.”Financial Post. National Post, 19 Aug. 2013. Web. 21 Sept. 2013. <http://business.financialpost.com/2013/08/19/target-losing-ground-with-canadian-customers-as-satisfaction-levels-reach-new-low/>.
“United States Securities and Exchange Commission – Target Corporation.” United States Securities and Exchange Commission. U.S. AID, 15 Mar. 2012. Web. 21 Sept. 2013. <http://www.sec.gov/Archives/edgar/data/27419/000104746912002714/ a2207838z10-k.htm>.
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