Target Stores Reinvention Pays Off

Brick-and-mortar retailers like Target, Wal-Mart, and Best Buy have been struggling to find ways to stay relevant in the new Amazon age.  After trying to make incremental changes to stem losses, these retail giants are now realizing they have to make fundamental changes to their marketing and business strategies if they want to survive.  CNN Money recently reviewed Target’s efforts, and results, in this article.  After disappointing holiday sales in 2016, Target allocated $7 billion to modify their marketing mix.  The article outlines changes made in every one of the 4 P’s and is a great example of how marketers need to consider all aspects of their marketing mix to create an effective marketing strategy.