Since 2012, the Olin Business Council has annually hosted the Target Case Competition. This year, on February 10, 2017, five teams advanced to the final round. Nine teams participated. Three Target representatives judged the competition and presented prizes of $1000 for first place, $700 for second place, and $300 for third place.
“It was a good competition. We had some great teams this year; the ideas and PowerPoints were among the highest quality,” said Olin Business Council President, Lillie Ross, BSBA’17. The case competition’s prompt was: “Developing the Modern Shopping Experience.”
The second place team recommended transforming guest interaction with the store. “We wanted ideas that were based around the consumers interacting with Target in the comfort of their homes,” said group member Chloe Naguib, BSBA’18. The team recommended sending fabric swatches to consumers to test them in their house instead of using pictures to figure out which drapes go best in the guest bedroom. The team also proposed donating 2% of the profits to local homeless shelters (chosen by customers) to incentivize consumers to purchase more goods and emphasize Target’s community initiatives.
A team consisting of brothers from Phi Gamma Nu came up with the idea of Home ID: home identity and home interior design. The team encouraged Target to use its online and physical presence to further its home innovation program. They advocated Target incorporate a Bullseye Board to their website; this bulletin board would serve as a Target version of Pinterest, allowing consumers to pin pictures of layout designs of rooms or furniture featuring products available at Target. They also suggested Target Quizzes, where shoppers could take Buzzfeed-like quizzes that harness consumer preferences and recommends a corresponding color. “These quizzes are really addicting and a fun way for customers to choose their living room color,” said teammate Brady Delgadillo, A&S’20.
Every idea was innovative and unique; however, the first place prize could only be rewarded to one team. The winning team took a slightly different approach: they suggested Target personalize each store’s inventory according to location to appeal more to customers. The winners also leveraged personal anecdotes for their recommendations. For instance, teammate Lucy Meng, BSBA’18, an international student, does not have access to a car, hindering her from visiting the store. Therefore, the group suggested Target offer a delivery service so international students could still access Target’s fresh produce and merchandise.
Overall, the competition was a success with the winning team pocketing $250 per member. As always, we appreciate Target’s sponsorship and relationship with Olin and look forward to next year’s competition!
Guest Blogger: Daun Lee, BSBA’20