Target market – Target.com and Wal-Mart.com
New computerized technologies are being implemented by the manufacturing enterprises at very-increasing rate. This trend is increasing due to international competition but this is not the case with the independent retailers. Competition is less intense in retailing and they even have an advantage of location, information about their clients and goods they sell or profit from niches created by market segmentation so they do not have the dire need to get computerized.
Currently, most of the organizations are somewhat fulfilling the technology needs of the company but still there is a large room for improvement. Many more technologies can be introduced to improve the efficiency of the organization. This not only increases the satisfaction of the customers but it also attracts new customers and retains the existing ones. It can also find new markets for their existing and upcoming products. I choose the two companies because they are perfect competitors of each other and their success rate can be evaluated well as they are operating in the same business.
Both the businesses are operating in online sales of various commodities and low prices. They do not have something specific that they offer to the customers but their website comprises of several other items that range from apparel and jewelry, books, DVD’s and MP3’s, electronics, house hold items, gifts, grocery items, items related to health and beauty, outdoor living, sports and fitness, pharmaceutical products, toys and video games. Other than this, Wal-mart.com has various other services for their customers such as offering the customers a store locator from the website, facility of putting up advertisements on their website, it allows the customers to track their orders and also a list of top products is given from which the customers can select. Furthermore, they also tell about any special releases or promotions of products on their website and provide full security to the customers who make online purchases from their website.
Other than this, the customers can also make their wish list on the website and this list consists of the products the customers wish to purchase. Target.com also offers a wide variety of commodities that includes clothing for all ages and both genders, adults, children or infants. They offer furniture for children, teenagers, etc., shoes, kitchen items, electronics such as TV, computers, beddings and toys, etc. furthermore, they offer the services through which the customers can save 10 percent through REDcard credit account.
Other than this, they have offers of free shipping for the customers who spend $125 can save 15%, or those who spend $50 and other such offerings are made to attract the customers. However, even Wal-mat. com offers free shipping on certain items. Both the websites offer almost same goods and commodities to the customer and this makes them direct customers of each other. As both are competitors and both have different markets, therefore they have differnet strengths, weaknesses, threats and opportunities as well.
Market segment is the division of the total market into different segments according to the needs and the distinctiveness of the target market. All the customers who have the same requirements form a segment and as Wal-Mart is an international retail chain store, its target market is divided into a number of different segments and these segments are continuing to be a growing piece of the business, therefore Wal-mart. com has to meet up the growing challenges that will have to encounter in the future.