Target, Appendix 1, Case 3 Essays

Target, Appendix 1, Case 3 Essays Target, Appendix 1, Case 3 Essay Target, Appendix 1, Case 3 Essay Name: Instructor: Course: Date: Target, Appendix 1, Case 3 1. What micro environmental factors have affected Target’s performance over the past few years? Target’s performance has been affected by a range of micro environmental factors. The major micro environmental factor was the drop in sales revenues and the dwindling profits. Wal-Mart’s sales were growing, and that meant that Target’s sales would go down since consumers preferred Wal-Mart for Target. The inability of Target’s managers to identify a solution to the problem of dropping sales and develop a viable course of action also affected Target’s performance. Another micro environmental factor was the thriftiness of customers all over America, which endeared them to Wal-Mart. The impatience of Target’s shareholders and the pressure they exerted on the company’s board to deliver was also a major factor. The marketing strategies that were adopted by the management also failed to turn things around. However hard the company tried, they were unable to establish a firm grip on the market. 2. What macro environmental factors have affected Target’s performance during that period? Target’s performance was affected by the global financial crisis that hit the world during that time. The crisis caused a fall in GDP and massive unemployment. This affected the buying habits of customers who then preferred to buy from Wal-Mart due to their legacy as a low-cost discounting store. Wal-Mart, Target’s main competitor, was attracting more customers because of its low-cost selling strategy. Consumption patterns were all of a sudden frugal; this made Target lose many customers since it was perceived as a luxury store. Another possible macro-environmental factor that must have affected Target’s performance was the coverage of its underperformance by the media. The focus on its falling sales by the media might have created the impression that it was selling at higher prices. 3. By focusing on the â€Å"pay less† part of its slogan, has target pursued the best strategy? Why or why not? Target’s pay less strategy was a good idea. It marketed target as a store that sells at lower prices than other stores. The focus on the â€Å"pay less† part was important especially during a time when consumers were thrift in their spending. It also meant that Target would compete with Wal-Mart for those consumers who preferred to buy goods at lower prices. The â€Å"pay less† part marketed Target as a discounting outlet and placed Target at a level playing field with competitors like Wal-Mart. 4. What alternative strategy might Target have followed in responding to the first signs of declining revenues and profits? Target should have embarked on massive re-branding of its stores and advertisement strategies. The stores and products should have been made to reflect a new price cutting strategy. The idea should have been to convince the customer that target is no longer a luxury store but a low price discount outlet. Rather than focusing on the â€Å"pay less† part of its slogan alone, Target should have engaged the consumer to find out the reason they preferred Wal-Mart and identify how they can improve their customer service. 5. Given Target’s current situation, what recommendations would you make to CEO Steinhafel for his company’s future? The company should continue with its re-branding initiative while at the same time marketing Target as a destination for quality products. They should also market Target aggressively using the â€Å"pay less† slogan. This will inform consumers that Target stocks lower-price products than its competitors. Target should monitor customer behavior and interact with them to find out their preferences and identify shortcomings in customer service. The management must ensure that they are constantly in touch with customers for feedback on performance and service rendered.

Le Chateliers Principle in Chemistry

Le Chatelier's Principle in Chemistry Le Chatelier†²s Principle is the principle when a stress is applied to a chemical system at equilibrium, the equilibrium will shift to relieve the stress. In other words, it can be used to predict the direction of a chemical reaction in response to a change in conditions of temperature, concentration, volume, or pressure. While Le Chateliers principle can be used to predict the response to a change in equilibrium, it does not explain (at a molecular level), why the system responds as it does. Chatalier's Principle or the Equilibrium Law The principle is named for Henry Louis Le Chatelier. Le Chatelier and Karl Ferdinand Braun independently proposed the principle, which is also known as Chateliers principle or the equilibrium law. The law may be stated: When a system at equilibrium is subjected to a change in temperature, volume, concentration, or pressure, the system readjusts to partially counter the effect of the change, resulting in a new equilibrium. While chemical equations are typically written with reactants on the left, an arrow pointing from left to right, and products on the right, the reality is that a chemical reaction is at equilibrium. In other words, a reaction may proceed in both the forward and backward direction or be reversible. At equilibrium, both the forward and back reactions occur. One may proceed much more quickly than the other. In addition to chemistry, the principle also applies, in slightly different forms, to the fields of pharmacology and economics. How to Use Le Chatelier's Principle in Chemistry Concentration: An increase in the amount of reactants (their concentration) will shift the equilibrium to produce more products (product-favored). Increasing the number of products will shift the reaction to make more reactants (reactant-favored). Decreasing reactants favors reactants. Decreasing product favors products. Temperature: Temperature may be added to a system either externally or as a result of the chemical reaction. If a chemical reaction is exothermic (ΔH  is negative or heat is released), heat is considered a product of the reaction. If the reaction is endothermic (ΔH  is positive or heat is absorbed), heat is considered a reactant. So, increasing or decreasing temperature can be considered the same as increasing or decreasing the concentration of reactants or products. In the temperature is increased, the heat of the system increases, causing the equilibrium to shift to the left (reactants). If the temperature is decreased, the equilibrium shifts to the right (products). In other words, the system compensates for the reduction in temperature by favoring the reaction that generates heat. Pressure/Volume: Pressure and volume can change if one or more of the participants in a chemical reaction is a gas. Changing the partial pressure or volume of a gas acts the same as changing its concentration. If the volume of gas increases, pressure decreases (and vice versa). If the pressure or volume increase, the reaction shifts toward the side with lower pressure. If the pressure is increased or volume decreases, equilibrium shifts toward the higher pressure side of the equation. Note, however, that adding an inert gas (e.g., argon or neon) increases the overall pressure of the system, yet does not change the partial pressure of the reactants or products, so no equilibrium shift occurs.