The first rule of any business plan is to anticipate its target market expectations. If a company's plan doesn't measure up, it should be changed before its too late. Take the example of American retail giant Target moving into the Canadian market. Most Canadian consumers were familiar with Target America, many had shopped there cross-border. When Target Canada recently opened its doors across the country, consumers were expecting the same services, products etc. that they saw in the American operation. In many ways, Target Canada measured up. Giant neighbourhood billboards filled the landscape with the familiar red bullseye logo; television ads promoted Target's exclusive fashion collections and home decor lines; millions of home delivery flyers touted their deals and private brands and online consumers were reached through Facebook and Twitter.
But with all of its flashy marketing tools, Target Canada missed out on one of the most important--a website that showed the products they sell and how much they cost. A survey last month by Price Waterhouse Coopers concluded that 34% of Canadian consumers always research clothing and footwear online before they enter a store to buy and 52% do so for home appliances. The current Target Canada website is a small, pathetic collection of photos and a few prices. Granted the company had a lot on its plate establishing its stores and brand in a new market. But they failed to anticipate consumer expectations. Good first impressions in retail are essential to success. Target Canada is now in full damage control and could spend a lot of time convincing people that their next visit will not be as disappointing as their first.
No comments:
Post a Comment