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Retail Fail

Retail Fail. Target, Neiman Marcus and CFDA Collaboration D isaster. Company Overview Positioning Map Retail Strategy Case Overview Positioning Map: Collaboration Internal/Situational Analysis Relating Course Concepts. Agenda. Opened in 1962

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Retail Fail

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  1. Retail Fail Target, Neiman Marcus and CFDA Collaboration Disaster

  2. Company Overview • Positioning Map • Retail Strategy • Case Overview • Positioning Map: Collaboration • Internal/Situational Analysis • Relating Course Concepts Agenda

  3. Opened in 1962 • Second largest discount retailer in the United States • Guest oriented • 1,784 stores • 24 in Canada • Fun place to work • Corporate Responsibility Company Overview

  4. Target’s position in the marketplace

  5. Customer • Median age of 40 • Median household income of $64, 000 • 43% have children at home • 57% have completed college • Place • General Merchandise & SuperTarget stores • Near large populations – Malls & Box Stores • Product • Wide selection of medium quality items • Fashion, Home Décor, Health & Beauty, Grocery, etc. • Successful Collaborations/Exclusive Partnerships • Jason Wu, Missoni, Isaac Mizrahi, Roots Canada Target’s retail strategy

  6. Price • Popular prices • Price Match Guarantee • Expect More. Pay Less.® brand promise • Marketing Communications • TV Advertisements • Billboards • Magazine Ads • Social Media • Flyers • Public Relations Target’s retail strategy

  7. What was the retail initiative?

  8. Position Map: Post Launch

  9. Items in the collection were priced too high • Pretentious – wrong products • Poor location and in-store presentation • Release time • Partnership was confusing – too many people involved Situational Analysis

  10. Exclusive Distribution • Demand-Oriented / Psychological Pricing • Mass Marketing vs. Niche Marketing Course Concepts

  11. Target is a very successful retailer who has had successful partnerships in the past • The company missed the mark with the Neiman Marcus and CFDA Collaboration • Prices were too high • Gifts were too pretentious • Too many collaborators were involved • Bad time of year between Black Friday & Christmas Conclusion

  12. Thank You Questions?

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