Mike Porter, marketing professor at the University of St. Thomas Opus College of Business, recently spoke with WCCO-TV about Target closing nine stores nationwide due to theft concerns.
In addition, professor Porter spoke with KSTP-TV about the changes being made at Live Nation to help up-and-coming artists with travel costs and merchandising.
From WCCO about Target store closings:
When the company realized it could not improve business performance and the guest experience, executives made the decision to shut down locations.
"If you look at the way they do business, the customer experience is critical to differentiate from other retailers that are in their space," said Dr. Mike Porter, University of St. Thomas' clinical professor of marketing.
Porter added that Target is trying to protect its brand.
"Part of the reason they are closing these stores it it's not cost effective to run those stores and keep the customer experience and prices consistent across the whole organization, "said Dr. Porter.
Organized retail theft is impacting lots of stores, but Target wants to protect shoppers by keeping prices down and making sure what they want is on store shelves.
"Prices are going to change they will always change, and Target is making the decision to try and minimize that by dealing with these particular locations, "Dr. Porter said.
From KARE 11 about Live Nation helping artists:
The program "On the Road Again" is aimed at supporting musicians and their road crews.
All acts playing at certain Live Nation venues will now receive a $1,500 travel stipend per show. They will also no longer be charged a fee for selling merch.
Local artists say it almost feels too good to be true. Experts say this is beneficial for those folks but it shouldn't impact ticket prices.
"One of the questions is, well, are they doing this just to fix their reputation?" said Dr. Mike Porter, a clinical faculty member in the marketing department for the University of St. Thomas. "These kinds of engagements that help artists out are going to be important to them."
