Target Health and Wellness Proposal Right on Target Consulting Agenda Introduction: Background Information and Audience Recommendation 1: Target Wellness Center Recommendation 2: “Ask Us” Recommendation 3: Target Wellness Points Program Recommendation 4: Connecting with the Community Key Takeaways and Next Steps Background Information 14 12 10 8 Series 3 Series 2 Series 1 6 4 2 0 Category 1 Category 2 Category 3 Category 4 Target Market Typical Guest Women Ages 35-50 Children Young Adults Ages 3-12 Ages 20-29 Pre-Proposal SWOT Analysis Strengths Weaknesses • Excellent brand image and reputation-loyalty • Superior service • Strong partnership • Differentiated "good, better, best" strategy • Many different stores and layouts • Not a specialized pharmacy • Wellness is not naturally associated with the Target image Opportunities Threats • Large market for healthcare • Further promote brand image • Greater differentiation • More focused community involvement • Specialized competitors already have strong wellness industry positions • Intense rivalry with competitors • Economic status of the nation Recommendation1: Target Wellness Center Wellness Center Signage Colored signs that clearly segment the Wellness Center Gives shoppers feel as though they are in a specialized health and wellness area while maintaining Target’s environment. Poster Display Endcaps—Current Situation Chanhassen Target Slightly disorganized Lacks cohesion No specific focus on health and wellness Endcaps—Proposed Solution Recommendation 1: Health and Wellness Books Eat, Drink & Weigh Less by Molly Katzen and Walter Willett MD Pilates: Body in Motion by Alycea Ungaro and Russell Sadur The Pocket Food and Exercise Diary 15 Minute Total Body Workout [With DVD] Master Your Metabolism: The 3 Diet Secrets to Naturally Balancing Your Hormones for a Hot and Healthy Body! by Jillian Michaels The 150 Most Effective Ways to Boost Your Energy: The Surprising, Unbiased Truth about Using Nutrition, Exercise, Supplements, and Stress Relief Recommendation 2 Objective: To rejuvenate the “Ask Us” program by emphasizing Target’s core values through improved service, convenience, and savings! Recommendation 2 Create an “Ask Us” lane Staff an “Ask Us” pharmacist from 11 am to 7 pm Facilitate promotion “Ask Us” Recommendation 2: Cost/Benefit Costs • Extra staff in pharmacy • ???LIST OTHER COSTS???? Benefits • Improved service image • More experienced staff • Improved “wellness center” The largest cost came from the initial investment in the creation of the original “Ask Us” Program Recommendation 3: Wellness Points Program Recommendation 3: Wellness Points Program Objective: To increase awareness and sales of wellness products (especially up & up™ products) while emphasizing Target’s focus on convenience and savings. Target Wellness Points Program Easy-to-use card to save! Earn double the points on Target up & up™ Can register under the same REDcard CONVENIENCE and SAVINGS Post-Proposal SWOT Analysis Strengths Weaknesses • • • • Outstanding brand image and guest loyalty Improved community involvement Improved service Positive differentiation in the wellness industry • Alignment of the Target brand and wellness • More resources utilized in Wellness Center • More staff is required • Increased training Opportunities Threats • Creating an even greater relationship between Target's brand and wellness • More involvement with the community • New partnerships within the wellness industry • Governmental Regulation • It is difficult to sustain points of differentiation • Program imitators Recommendation 4: Connecting with the Community Objective: • Connect Target with surrounding community • 100 existing museums 2 Exhibits • Wellness orientated • Target Sponsored Goodie Bags • Wellness Products • Target Products Next Steps March 31 2010 January 31 2010 June 1 2010 Selected all products for implementation of the Wellness Points Program. Create plan for endcaps and Wellness Center restructuring. January 31 2011 Full implementation of the Wellness Center at all Target locations. Full roll-out of the Wellness Points Program. February 1 2010 May 1 2010 Staff each Target with an extra pharmacist for the “Ask Us” program and create the additional “Ask Us” lane. Select Wellness exhibit designs for the Museum Program. August 1 2010 Museum Program exhibits implemented in selected cities. Key Take Aways Question & Answer Target Health and Wellness Proposal Conclusion Cost/Benefit Relationship Promotes Current Core Values Improved Brand Image • Most costs already incurred • Immediate Benefits • New Outstanding Opportunities • Service • Differentiation • Convenience/Quickness • Alignment of Target Brand with Wellness • Continued Growth in Providing Innovative Service Bibliography Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more. Web. 04 Dec. 2009. <http://www.amazon.com>. Association of Children's Museums. Web. Nov. & Dec. 2009. <http://www.childrensmuseums.org/>. "Customer Retention: Keeping Your Best Customers for the Long Term." Incentive Central. Performance Improvement Council of the Incentive Marketing Association, 2008. Web. 6 Dec. 2009. <http://www.incentivecentral.org/ “CVS Pharmacy Health and Wellness Interview" Interview and Observation by Right on Target Consulting. 29 Nov. 2009. Target, Eagan, MN. Hill, Charles W. and Jones, Gareth R. Essentials of Strategic Management: Special Edition. Boston: Houghton Mifflin Harcourt, 2008. Science Daily: News & Articles in Science, Health, Environment & Technology. Web. 06 Dec. 2009. <http://www.sciencedaily.com>. Target.com: Furniture, Baby, Electronics, Toys, Women’s Clothing & more. Web. 07 Nov. 2009. <http://www.target.com>. "Target Health and Wellness Interview 1" Interview and Observation by Right on Target Consulting. Super Target, Rosedale, MN. "Target Health and Wellness Interview 2" Interview and Observation by Right on Target Consulting. 05 Dec. 2009. Target, Chanhassen, MN. "Target Health and Wellness Interview 3" Interview and Observation by Right on Target Consulting. 05 Dec. 2009. Super Target, Minnetonka, MN. "Target Health and Wellness Interview 4" Interview and Observation by Right on Target Consulting. 29 Nov. 2009. Target, Eagan, MN.