Target said Tuesday that it hopes to build on recent growth by investing about $4 billion annually over the next few years to speed along new stores, remodel existing ones and increase its ability to quickly fulfill online orders.
That represents a step up for the retailer, which invested about $2.65 billion in 2020.
Click here to read the story at CNBC.com.
Discussion Questions:
- Why is it important for companies to develop both long and short-term business and marketing plans?
- How might a SWOT analysis help a business develop long and short-term business and marketing strategies?
- According to Target’s CEO, has Target’s recent success been the result of a sales boost during the pandemic or because of effective long-term business planning? Why is that an important distinction to make?
- Why do you think Target wants to open new stores?
- Based on information from this story, the company plans to open new locations near college campuses. Why do you think that location is part of Target’s growth strategy?
- What is distribution?
- What is a distribution center?
- Why do you think Target is investing in its distribution?
- How might an effective distribution strategy elevate levels of consumer satisfaction?
- According to this news story, Target has “stood out from its rivals” during the pandemic. How has Target been able to gain a competitive advantage?