Question

Using the possible value propositions describe the value proposition of Target StoresUs. Is it appropriate?

Answer 1

A value proposition is a statement that answers the ‘why’ someone should do business with you. It should convince a potential customer why your service or product will be of more value to them than similar offerings from your competition. You know why your company is great, but do your potential customers know what sets your brand apart?

A good value proposition can give you an advantage over your competitors and is often what your prospects use to evaluate you. And for many consumers, your value proposition is the first thing they encounter when exploring your brand. So, having a clear, concise value proposition is more important than ever.

Value proposition of Target store

When it comes to delivering value to its customers, Target focuses on price as one of the strategies. They offer everyday essentials and fashionable, differentiated merchandise at discounted prices for all its guests to fulfill their "Expect more. Pay less." promise.

They have the ability to deliver a shopping experience that is preferred by customers who they refer as ‘guests.’

As part of their accessibility and convenience strategy; In the past year, 341 target stores were remodeled and expanded with a fresh food layout, to offer an extended food assortment to guests. The expanded food assortment also includes some perishables and some additional dry, dairy and frozen items.

Guests at Target believe in the brand promise that the products are good quality at a great price. Many of the products sold at Target are under their own and exclusive brands. Owned brands include merchandise sold under private-label brands and also they sell merchandise under exclusive licensed and designer brands. Target branded products and those exclusive to target offer anaffordable quality product to guests. Target branded products cover different product categories; such as household essentials, hardlines, apparel & accesories and home furnishing & decor. Some of there brands; Room Essentials, to appeal to guests that care about design at a price they can afford, New Fit Options, to find guests find their perfect pair of jeans, Up&Up brand of household products at exceptional prices and quality comparable to national brands. For those guests that like high-end designer collections, Target offers exclusive to target brands from Jean Paul Gaultier and Tucker. Also they offer award-winning grocery items from Archer Farms brand, exclusive to Target.

Value proposition is appropriate when we

1. Identify all the benefits your product offers.
2. Describe what makes these benefits valuable.
3. Identify your customer's main problem.
4. Connect this value to your buyer's problem.
5. Differentiate yourself as the preferred provider of this value.