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Pages:
6 pages/β‰ˆ1650 words
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1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
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Total cost:
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Topic:

Target Corporation: Business Model Canvas (BMC)

Essay Instructions:

Before the course starts: Choose a company you are particularly excited about and would like to work for after graduation. The company can be located anywhere in the world.
Start analyzing its given industry by searching for insights and trends online, and then concentrate on the aspects you find particularly interesting in terms of innovation, business models, and growth opportunities while analyzing the following nine building blocks of a Business Model Canvas (see course literature: Ostewalder & Pigneur, 2013Links to an external site., here is a template of their canvas. In terms of conclusions, check out Ten Types of Innovation Links to an external site. and the innovation tactics as inspiration to propose how the company should transform moving forward.
1.Background- State the underlying problem or challenge this company is facing now or about to face, and back up your argument with sound reasoning and references.
2.Customer Segments – An organization serves one or several customer segments.
3.Value Propositions – It seeks to solve customer problems and satisfy customer needs with value propositions.
4.Channels – Value propositions are delivered to customers through communication, distribution, and sales Channels.
5.Customer Relationships – Customer relationships are established and maintained with each customer segment.
6.Revenue Streams – Revenue streams result from value propositions successfully offered to customers.
7.Key Resources are the assets required to offer and deliver the previously described elements…
8.Key Activities – …by performing several key activities.
9.Key Partnerships – Some activities are outsourced, and some resources are acquired outside the enterprise.
10.Cost Structure – The business model elements result in the cost structure.
11.Conclusions: Proposals for updating the business model - Propose, based on your research with the supper of the Ten Types of Innovation and by updating the Business Model Canvas, how the company should proceed to sustain and succeed in the future.
Appendices: Complete Business Model Canvas One-Pager
Structure: Use Times New Roman or similar font 12 points, 1.5 spacing. The core report should not exceed three pages of referenced text, excluding the one-page business model canvas and any other appendices referenced in core text (unlimited number). APA referencing throughout the paper references course materials presented under Modules and any sources you think are helpful. In case you plan to use AI-generated text, clearly mark these sections as references or direct citations. I am all for advanced research methods yet mostly interested in seeing how you frame problems and seek solutions to them.
NOTE: In addition to submitting the complete assignment, ensure you have access to an electronic copy of your company logo and the business model canvas in a PDF document with your name to show and share in class. We will upload these on Friday to a discussion board.

Essay Sample Content Preview:

Target Corporation: Business Model Canvas (BMC)
Student
Professor
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1. Background
Target Corporation (Target Co) was founded in 1902 as a general merchandising and food assortment retailer in the United States of America (US). The portfolio includes fast-moving consumable products (FMCG), perishable commodities, apparel, dairy items, accessories, and household essentials. The company has over 450,000 employees and 1,950 retail stores in its home country. Under the leadership of Brian Cornell, the Chief Executive Officer (CEO) and Chairman of the company, Target Co established 56 supply chain facilities and a global market presence in more than 28 countries (Forbes, 2023). Target Co generated USD109 billion in revenue in FY2022, making the company a market leader in the American retail industry (Target Co, 2023). Target Co’s fiscal performance in FY2022 was attractive for investors, generating optimistic speculations about the company’s performance and digital leadership.
Nonetheless, Target Co underperformed in New York Stock Exchange (NYSE) due to inflationary impacts on food and gas commodities. The company lost a price war with Walmart and Kruger. Target Co mismanaged inventory since the strategy team needs to be aligned with rapid transitions in consumer behavior. The share prices were reduced by 28% on NYSE regardless of attractive footfall in physical and digital stores (Isidore, 2022). Target Co requires revising its Business Model Canvas (BMC) to respond to the situation in the long run and retain industrial growth.
2. Customer Segments
Customer segments are one of the building blocks of BMC. Customer segments focus on specific target markets focused by a brand to push its products and services as a proposition (Ostewalder & Pigneur, 2013). According to Reuter (2023), a Target Co shopper is a millennial suburban mother with an annual income of USD80,000. The identified customer would visit Target Co’s store during weekends and spend USD50 on average. The company enjoys substantial brand loyalty from customers compared to retailers like Walmart. Statistics confirm that more than 4% of weekly American retail shopping incurs in Target Co stores, valued at USD30 billion (Reuter, 2023). The customer segment is loyal and repeated for Target Co compared to Walmart and Kruger.
3. Value Propositions
The value proposition is a point of differentiation (POD) for brands. Value proposition refers to the benefits and solutions offered to customers to satisfy needs (Ostewalder & Pigneur, 2013). Target Co has an excellent brand reputation among American households. The company offers a reliable brand reputation to customers with flexible product return policies. The physical stores are in prime locations with high accessibility for households in 50 states. Target Co claims that 75% of American households reside within 10 miles radius of the physical stores. The geographical density offers convenient access to customers. Besides, Target Co claims to run a mini-mall structure for customers, providing different products and services under one roof (AoS, 2022). The value proposition offered by Target attracts more customer footfall compared to Walmart and Costco.
4. Channels
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