Your Key Assignment: Research And Follow Your ✓ Solved

For your Key Assignment, you will research and follow your

For your Key Assignment, you will research and follow your favorite brand or store. You will also choose a product to follow throughout this session. Each section will be worked on separately throughout the class. Develop a brief PowerPoint presentation identifying the company, the brand you selected, and your store’s customer service policy. Find a competitor, and analyze its policy. What are some of the similarities and differences?

The project deliverables for Section I are as follows: Visit your favorite store where your product is distributed, either a brick-and-mortar (BAM) store or virtual store. Study the store and the product’s return policy. The requirements for your PowerPoint presentation are as follows: 100–150 words of speaker notes per slide; Title and reference slides (2 slides); Specifics and explanation of store customer service and product policies for each store (2–3 slides); Comparison of the 2 policies (3–4 slides); 1 positive aspect about both policies; 1 negative aspect about both policies; 1 way you would update or change the policy for today’s customer, and why you would choose to make that change.

Paper For Above Instructions

In today's highly competitive marketplace, the importance of brand loyalty and customer satisfaction cannot be overstated. This analysis focuses on the popular retail brand, Target, known for its wide range of products and customer-centric values. The chosen product for this project is the Apple iPhone, which is sold at Target stores. This paper will examine Target’s customer service policies, compare them with a competitor’s policies, and suggest improvements for a modern shopping experience.

Company and Brand Information

Target is a Minnesota-based retail corporation that operates a chain of discount stores. Founded in 1902, Target has grown to become one of the largest retailers in the United States. The company's brand promises quality products at affordable prices, catering to a diverse customer base. Target’s customer service policy focuses on enhanced shopping experiences, which is vital for maintaining customer loyalty and trust. The brand is known for initiatives that promote inclusivity, sustainability, and community engagement, making it a favorite among American consumers.

Product Overview

The Apple iPhone, widely regarded as a leading smartphone choice, is available at Target stores. It is known for its sleek design, user-friendly interface, and strong ecosystem of applications and services. Key features of the iPhone include high-resolution cameras, advanced security features such as Face ID, and seamless integration with other Apple products. The iPhone caters to a demographic that values technology, quality, and brand prestige.

Analysis of Customer Service Policies

To effectively analyze customer service policies, the first step involves studying Target's policies and those of a direct competitor, Walmart. Both companies have extensive return policies, but there are notable differences in their approach. Target's return policy allows customers to return most items within 90 days of purchase, with the exception of electronics, which can be returned within 30 days (Target Corporate, 2023). Walmart also offers a similar 90-day return period but has a more complicated process for electronics, requiring a receipt for all returns (Walmart Corporate, 2023).

Similarities and Differences

Both Target and Walmart emphasize customer loyalty by providing generous return policies. However, Target's policy is generally more user-friendly, as it doesn't require a receipt for certain items, drawing customers into a more forgiving shopping environment. On the downside, Target experiences a higher rate of returns which could potentially affect its inventory management and overall efficiency.

In contrast, while Walmart’s policy is slightly more restrictive, it offers benefits like a price-matching guarantee that can appeal to value-conscious consumers. A study by the National Retail Federation indicates that a flexible return policy can increase customer satisfaction by 87%, ultimately driving repeat purchases (National Retail Federation, 2023).

Positive and Negative Aspects of Policies

A positive aspect of Target’s return policy is its simplicity and convenience, fostering customer trust and a hassle-free shopping experience. Conversely, the drawback is the potential for inventory loss due to lenient returns. For Walmart, the positive element is their price-matching guarantee, reinforcing the perception of value. However, the negative aspect is the additional complexities involved in their return process, which can frustrate customers.

Recommendations for Policy Updates

To adapt to today’s customers who place a significant emphasis on convenience, Target could consider implementing a streamlined digital return process. By allowing returns through their mobile app, customers could initiate returns at their convenience, thus enhancing the shopping experience (Forbes, 2023). This change would not only align with current technology trends but also cater to the growing consumer base that prefers mobile solutions.

Conclusion

In conclusion, both Target and Walmart wish to provide robust customer service experiences, yet they adopt different approaches in their return policies. Target’s user-friendly system builds brand loyalty, but comes with inventory risks. Enhancing Target’s policies with technological advancements such as mobile returns could further improve customer relations and adapt to modern commerce needs.

References

  • National Retail Federation. (2023). Understanding Return Policies. Retrieved from https://nrf.com
  • Target Corporate. (2023). Returns Policy. Retrieved from https://target.com/returns
  • Walmart Corporate. (2023). Returns and Refunds. Retrieved from https://walmart.com/returns
  • Forbes. (2023). The Future of Retail: Trends and Innovations. Retrieved from https://forbes.com/retail
  • Marketing Dive. (2023). How Retailers are Adapting to Consumer Behavior. Retrieved from https://marketingdive.com
  • Pew Research Center. (2023). The State of American Retail. Retrieved from https://pewresearch.org
  • Harvard Business Review. (2023). Building Loyalty with Customer Service. Retrieved from https://hbr.org
  • McKinsey & Company. (2023). Retail in 2023: Trends to Watch. Retrieved from https://mckinsey.com/retail
  • Deloitte. (2023). Consumer Behavior in the Retail Sector. Retrieved from https://deloitte.com/consumerbehaviors
  • Reuters. (2023). Analyzing Retail Return Policies. Retrieved from https://reuters.com/retailreturns

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