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Question
Scenario1-4Target, a global discount retailer, generates around 65 billion dollars in sales, annually. Additionally, the company employs more than 360,000 people worldwide. Target stores carry just about every major brand imaginable. Additionally, Target carries a number of its own brands including Market Pantry, Archer Farms, and Up and Up. Each of the brand labels appears on different products throughout the storefor example, the Archer Farms label appears on the retailer's highest quality foods. The Market Pantry label appears on food items as well, however these items are often sold at a significantly lower price. The Up and Up label is on a large range of products ranging from paper products to household cleaning supplies.
In a majority of Target's promotions, the store is marketed as "upscale," and this is demonstrated through its prices, which are generally higher than its biggest competitor, Walmart. Still, even in times of recession, Target continues to increase its annual revenues and retain many of its customers. This can be attributed to:
a. Target's low brand equity.
b. the inelasticity of demand shown by many of the company's customers.
c. Target's increase in gross domestic product (GDP).
d. the elasticity of demand shown by many of the company's customers.
Answer
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