The Challenge Ahead
How should Target Style deliver on the “Expect More. Pay Less.” brand promise for the LGBT Community?
In order to sustain growth, Target must continue to surprise and delight millennial guests.
How should Target Style strategy come to life over the next two years to be more relevant to the LGBT Community? Starting with the framework of the four P’s, provide ideas for how you would approach this challenge as a buyer on a category within Style.
1. Product/ Assortment: How should Target manage thoughtful expansion with products that support the LGBT Community and elevate the brand? What kind of financial investment might this require? What kind of partnerships could this entail?
2. Price: How can Target profitably deliver on “Pay Less” while also creating meaning with the assortment?
3. Promotions: How and where should Target deliver seasonably relevant promotions? What are the right seasonal moments in the LGBT Community? What are the financial consequences of these promotions?
4. Place/ Supply Chain: How might Target leverage store locations and broad distribution centers to ensure product availability and to get it to the guest quickly? How might we leverage engaged store team members? What are the financial impacts of these decisions?
Additional considerations in this challenge include:
• Team Structure: How should buyers and marketing approach decision making on assortment, pricing and promotions together?
• Marketing: How should Target inform and excite the guest in these style offerings?
• Product Categories: Within either apparel or home, what product categories should Target prioritize for building a relevant assortment?
• External Competition: What do you believe are the greatest threats to this strategy? Are there any risks Target should take into consideration?
If you would like to select a specific category within Style, the area is comprised of the following:
• Home: Home Décor, Domestics (bedding/bath), Stationary/Party, Seasonal (Christmas/Halloween), Housewares (kitchen, appliances), Storage and Organization, Furniture.
• Apparel: Adult Apparel, Kids, Jewelry & Accessories, Shoes, New Born Infant Toddler.
Resources
Infographic: How to Connect with Millennial Consumers LGBT Facts 2015 Marketing & Advertising to LGBT Consumers Best Practices
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