Target’s launch in Canada is well below expectations. This article explores why.
Appropriate Subject Area(s):
Marketing, business administration, 4 Ps of marketing
Key Questions to Explore:
- How can the 4Ps of marketing be applied to achieve overall success of a brand or organization?
- The 4Ps of marketing were coined in the 1950’s. How relevant are they today?
Depreciation, amortization, consumers’ perception, well capitalized
4 Ps of marketing review sheet (attached)
Introduction to lesson and task:
This lesson review the 4 Ps of marketing and see how they are applied. Students will be able to understand what went wrong and what needs to happen to move forward when mistakes are made.
Action (lesson plan and task):
- Review the 4 Ps of marketing with the class. Use the attached sheet for an in depth review.
- Divide the class into groups of four. Assign each group one of the following chains: Target, Wal-Mart, Canadian Tire, Sears and if there is a local equivalent in your community, add it in.
- Ask each group to go through each of the elements in the 4 Ps of marketing and describe their perception on how the 4 Ps are applied among these competitors.
- Combine groups to share their discussion.
- Distribute the article for reading.
- Compare what actually transpired at Target during its first year of operation to what the perception was.
- Have each group develop a revised marketing strategy using the 4 Ps of marketing for Target that will likely lead to better success. Share these plans with the class.
Consolidation of Learning:
Invite a guest speaker (store manager) from one of the local stores to speak to the class about marketing strategy and the application of the 4 Ps in developing the strategy.
Students are able to create thoughtful questions for the guest speaker to demonstrate understanding of the marketing strategy.
After the guest speaker has presented and answered questions, have each group revisit their revised plan for Target and make any changes based on new understandings.