Description Of Targets Business Model Essay

Target Corporation offers its customers a vast variety of products, well also providing a service. The corporation owns or has exclusive rights to many different brands ranging from groceries to clothing. For example, some brands that can only be found at Target are Archer Farms which provides food merchandise, Merona which supplies clothing and Room Essentials which provides home goods (Target, 2015, para.2). The shopping experience that Target provides can be defined as a service. The stores shopping experience is a service, since it cannot be patented, interaction with the customer occurs, it is heterogeneous, along with perishable and time dependent and contains the package of features (Chase & Jacobs, 2013, p.9). Target is a popular consumer destination because it provides both a service and goods making it ideal for one

Target Corporation is known worldwide as a large retail chain that brings in millions of dollars each fiscal year. The ability to remain competitive in a saturated industry could prove difficult to some retailers, but Target remains one of the leaders in the retail market. With success comes risk. Target Corporation competes against online retailers as well as “big box” stores to remain competitive.

Target is an American retailing company founded in 1902. It is the second largest discount retailer in the United States (target.com, 2013). Targets mission is to make their store the preferred sopping destination for their guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling their “Expect more pay less” brand promise. In order for Target to compete with the number one largest competitor Wal-Mart the four functions of management must be implemented in their strategic business plan. In this paper our team will explain how internal and external factors affect the four functions of

Goods are normally sold through separate in store departments. Department store purchase products from wholesalers and manufacturers and sell them to consumers, generally without changing the products. They also undertake activities like customer service, product merchandising, advertising, inventory control and cash handling.

Target’s Management Discussion and Analysis, item 7 in their Form 10-K, valued several noteworthy items contributing to their fiscal 2016. Key standout points addressed by management included: 2016 in-store sales decreased .5% because of a .8% decrease of in-store foot traffic, digital channels experienced a 27% growth in sales which contributed 1% points of comparable sales growth, adjusted earnings per share were $5.01, returned $5.0 billion to shareholders through dividends and share repurchases. Furthermore, Target’s GAAP earnings per share from continuing operations were $4.58 in 2016 (Target Corporation, 2017).

Target Corporation is an upscale retailer that provides high-quality, on-trend merchandise at attractive prices in clean, spacious and guest-friendly stores. Having worked for target in the past, I have found this company to always keep their guests and team members in their top priority. In 2015, Target Corporation set goals for the future CSR which are making fitness and wellness a way of life for guest and team members and communities, pursuing sustainability for products and business operations, promote a more inclusive society and engaging with their communities. Every year Target makes a set of goals to be achieved and in 2015 according to their CSR Report, 20 goals we set and 10 out of the 20 were achieved.

They also do things such as adding different things to existing products. For example they have added cookies to Galaxy bars this means that they can try and attract new customers.

YouTube: Their YouTube page has a very solid mix of content. They have videos talking about how to use various apps on their console display, how to do specific workouts with their products, other how to videos, the company at tradeshows and clear advertisement campaigns. Their promotional videos are well done and have a large amount of views because of it. They do a great job of promoting these key

Target Corporation has recognized itself as one of the top retailers in the United States market on the basis of excellent service quality, customer experiences, operational excellence, strong financial position, and a wide array of product offerings. Through its high degree of service orientation at physical outlets and adoption of fair business practices, Target Corporation has become the most distinctive retailer in the eyes of its potential customers. Being one of the top-notch retailers in the United States, Target Corporation has to carefully strategize on its business operations and marketing tactics so as to keep itself in the row of competitive brands of the industry.

Target, is known for the variety of product that they sell. Target first category is household essentials, which consist of Pharmacy, beauty, personal care and so on. This section represents 25% of their annual sale.

They are one of the few retailers that sell such high-end products in the whole of

It is the most strongly established brand, among the global apparel and footwear brands, and its image has been tirelessly complemented by appealing products and enticing marketing featuring photo shoots and fashion shows of supermodels. It should continue to attract affluent buyers irrespective to the macro environment.

Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that “ “Business Model” is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.”

strategy, they are only responsible for the design and marketing, by means of a good inventory

We considered above merchandising situations in retail stores. But how are the products brought to the store? What do we call the activities before they reach the store? Who buys them for the store? Where do the products come from? What did they cost? How are they made and moved to the store location? And, finally who prices these products?