Swot Analysis : Walmart And Sears

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Target Corporation main competitors are Walmart and Sears. While Walmart is leading their industry of major retail chains, Target is not far behind as they are currently ranked second amongst the major retail chains. In order to maintain their growth and competitive advantage, Target needs to pay close attention to their competitor’s market share, product quality and the unique selling proposition in comparison to their own. In order to maintain their position in the market, Target should be analyzing the external factors of their competition using metrics that will allow them to use that information to set objectives, rate their own performance, and plan for future success for the organization. Market share Market share represents the percentage of a markets total sales earned by a single company over a period of time, which is calculated by taking the company’s sales (of the period of time) divided by the total sales of their industry during the same period of time (Buxton, N.D.). According an article on Buxton, most companies do not monitor their competition, market share, thus they overestimating their own market share by a factor of one to two, while for the companies that do, this allows them to correctly judge the total market growth or decline, key trends in consumer behavior. Lastly understanding the market share of your companies and your competitive gives executives the power to measure pricing strategies, consumer needs/wants of products and services,
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