Does the firm have a competitive advantage in the industry? Identify the firms that operate in the space that the focal firm exists in. • An updated five forces analysis to provide the basis for the...

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Title: Strategic Management
Contents
Introduction    3
Competitive Advantage    3
Competition for Target    3
Five Forces Analysis    5
Threat of New Entrants:    5
Bargaining Power of Buyers:    5
Bargaining Power of Suppliers:    5
Threat of Substitutes:    5
Level of Competitive Rivalry:    5
Target’s Positioning in the Industry    5
Focus and Recommendations    6
Focus    6
Recommendations    6
Works Cited    7
Introduction
Target is a general merchandise store in the US, which is known for addictive shopping experience. People often go to buy one product and end up buying many.
Competitive Advantage
The loyal customer base has given unique competitive advantage to Target. Although the retail shopping has been gone online, however, the need of brick and mortar still exists in the market (Retail Bum).
Competition for Target
The competitors are Walmart, Amazon and Costco. These comparison graphs show about the performance of different competitors (Business Strategy Hub).
The market competition for Target is on higher side. By the looking the comparison of sales growth it can be said that Amazon maintain high sales followed by Costco and Walmart. Target suffered due to pandemic restrictions as mobility issues cost it sales.
It shows that at present Amazon has investment growth and Walmart has lowest. The investment made in the market is reaping fewer benefits for Target. With re-designing of its marketing strategies, it can pull back growth in its favor (Forbes).
Larger chunk of revenues is taken by Amazon and rest is shared among Target, Walmart and Costco. The digital channels should be explored by Target to...