Strategic competency involves understanding a company’s long-term goals and planning on how to achieve them while maximizing profits. The most strategic competence exhibited by Target Corporation has been its ability to outmaneuver its competitors who include Wal-Mart and Costco. They have done this by making sure that they differentiate their products. This is seen in how they offer the latest trends at affordable prices. Their most strategic resource is their location which is all over the United States. This gives them an upper hand in being recognized as the most convenient store which offers more goods at relatively lower prices when compared to its competitors such as Wal-Mart who are located mostly in the major cities around the country.
Target’s strategic competency gives them a competitive advantage over their competitors since they can re-invent themselves each time they are offering a new product at a lower price. They do this by partnering with the particular company manufacturing the brand they are offering. Differentiation also plays a huge part in marketing Target Corporation within the United States since it creates brand awareness which emphasizes on unique experiences. This makes them relevant to their customers across the country since they make the shopping experience fun instead of being a costly affair. One of the companies that they have partnered with to improve customer satisfaction is Microsoft which has helped them improve their business due to the technology services offered for purposes of better customer relations. On location, Target has made an effort to expand their visibility in the international market by opening up stores in Canada to improve customer satisfaction and to widen their customer base.
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On account of the above points, it would suffice to conclude that Target Corporation’s strategic competency lies in being able to outdo their competitors by differentiation of products and by partnering with relevant brands to make shopping at the retail store fun and affordable.
