Strategic Plan for Target Australia

Running head: TARGET AUSTRALIA
Diploma in Business Management
[Target, Australia]
Name of the student:
Name of the university:
Author note:

1TARGET AUSTRALIA
Executive summary
This study analyses Target Australia based on a few factors such as those being covered in this
study. The study finds that Target has had few business problems in the past few years. It has
struggled with its brand positioning strategy. The study also finds that Target has struggled with
its EDLP strategy. Therefore, the study recommends a new marketing strategy for Target. On
implementing the proposed marketing strategy, Target could be able to communicate a clear
positioning strategy. Moreover, the new strategy encourages to target consumers specifically in
the middle-income group with mid-range premium priced products. As found in the study, Kmart
has registered a sharp decline in sales in the first half of 2019. This is already benefitting Target.
Moreover, the recommended marketing strategy could further boost the performance of Target.

2TARGET AUSTRALIA
Table of Contents
1. An overview.................................................................................................................................3
2. A brief synopsis of the plan.........................................................................................................3
3. Business analysis.........................................................................................................................4
3.1 Vision, Mission, Values and Objectives................................................................................4
3.2 Strategic planning process.....................................................................................................4
3.3 SWOT analysis......................................................................................................................4
3.4 SMART goals........................................................................................................................7
4. Industry Analysis.......................................................................................................................10
5. Competitive Analysis.................................................................................................................10
6. Marketing Plan...........................................................................................................................11
7. Gantt chart.................................................................................................................................12
References......................................................................................................................................14

3TARGET AUSTRALIA
1. An overview
This study is aimed at designing a strategic plan for a chosen company “Target Australia”
to help the company re-establish its market reputation and to boost its sales. The strategic plan to
be designed in this study is in response to the problems identified in the chosen company. Target
Australia, a subsidiary business of Wesfarmers, has been doing really good until recently being
affected by the growing success of Kmart. Kmart is another subsidiary business of Wesfarmers
(Wesfarmers.com.au, 2019). Target seems like losing its competency to Kmart. Target’s failure
in recent times could be credited to its inefficiency to execute the strategies. On a broader aspect,
Target, unlike Kmart, has struggled to capture a valuable market position. It is more due to
Target’s incapability to position its brand image. Moreover, Target has been less effective as
compared to Kmart in respect to the “Everyday Low Price (EDLP)” strategy (Özer & Zheng,
2015). These two problems are not just the reasons why Target need a new strategic plan. Rather,
there are still possibilities left for the company. A revised and more effective positioning
strategy, and the EDLP can do some good things for the company. The strategic plan to be
designed will specifically help Target to reinvent its capability in terms of EDLP strategy and the
positioning strategy. Therefore, the main purpose of this study is to design a strategic plan for
Target implementing which the company can possibly be able to reinvent its market value.
2. A brief synopsis of the plan
The strategic plan will include various elements. The strategic plan will have a thorough
business analysis of Target. The plan will also include an analysis of the industry and Target’s
competitors. Moreover, a marketing plan will be proposed to help Target do marketing
communication in a more effective manner. Finally, the strategic plan will also have a Gantt
chart showing the timeline for tasks included in the strategic plan.