History of Jcpenney and Target

George Draper Dayton: A banker and real estate investor, George Draper Dayton, who is a native New Yorker saw potential growth in the Midwest markets and after much research decided that Minneapolis has the greatest potential for growth. In 1902 Dayton decided to be a partner in Goodfellow’s Dry Goods Company, the fourth largest department store in Minneapolis, Minnesota. However, about a year later he takes sole ownership of the store and renames the store to Dayton Dry Goods Company. Dayton’s principles and belief in the “the higher ground of stewardship” soon played into how Dayton Dry Goods Company would be recognized. The store became known for dependable merchandise, fair business practices, and generous spirit of giving. Dayton, as president, was well involved in the management of the store up until his death in 1938. His son and grandsons would later take over leadership and has influenced the stores growth into the nationwide retailer position it has today. Throughout the years, many events occurred that influence the business path Dayton Dry Goods Company took, currently known as Target Corporation.

J.C. Penney is a retail outlet that operates in many locations globally. It deals with product lines such as clothing, footwear, beauty products, electronics, and jewelry. There are several changes that have taken place in the macro environment that promises to increase the fortunes of the company. The advertisement in technology is one single important factor that has increased the performance of the business (Ali, 2007). The company has an elaborate website through which it uses to tap the online market. In fact, thirty percent of the company’s revenue comes from the website.

In 1858, R.H. Macy founded R.H. Macy and Co. in New York City. From a dry goods store, he expanded his store occupy a total of 11 buildings which all offered different categories of merchandise. Here, R.H. Macy created what we now know as the department store (The History). Macy’s Inc. has grown and currently operates over 700 department stores under its various names (About Us). JC Penny Co. Inc. was founded in 1902 by James Cash Penny. JC Penny Co. Inc. was alike Macy’s Inc., however, they offered a catalog to better compete against department store like Montgomery Ward and Co. They currently operate around 1,100 stores worldwide (The Editors). The traditional department store format that Macy’s Inc. and JC Penny Co Inc. utilize has become

2) JC Penney's most immediate goal is to maintain its present customer base and to attract new clients. They can do so by introducing higher-scale brands to their stores in order to attract another category of customers, in other words, customers who are drawn to premium brands. Therefore, JC Penney's brand image will be enhanced; its reputation will be improved. Introducing premium products, and attracting customers who have higher purchasing power will bring in higher revenues to the company.

Dayton was a cultural center for many years. In 1878, a publishing firm, established by Joseph Funk in Singers Glen, was moved to Dayton by his grandsons. The Ruebush-Kieffer Printing and Publishing Company specialized in shaped note music, and by the turn-of the-century, was the largest music publishing house in

The industry we have chosen is the department store-retail industry. Within this industry, we have chosen the department stores of JCPenney and Macy’s. We find this industry, as well as these two companies, interesting from a strategic perspective. JCPenney has recently undergone a massive strategic restructuring in regards to its pricing, brand offerings, and store layout, pushing it away from the typical department store strategy of discounts and coupons. Its new strategy has become much closer to Wal-Mart’s strategy of every day low prices. Macy’s, on the other hand, has restructured with a push from the economic

In 2013, this department store has been celebrating being in business for 110 years. It also once lured its customers in with its famous discount pricing strategy and coupons. The retailer is J.C. Penney, a fixture at shopping malls across the country. In 2012, J.C. Penney rebranded itself by making the announcement that it wanted to become America 's favorite store by creating a specialty department store experience (JCP, 2013). Founder James Cash Penney began the company with a Golden Rule: treat others the way you want to be treated Fair and Square (JCP, n.d.).

J.C. Penney’s used the linking strategy of having thousands of seemingly unrelated web sites that would link to the J.C. Penney website. Most of those links had really descriptive word choice, meaning if you wanted to look up furniture, casual dresses, phone cases, etc. they would all be linked to J.C. Penney’s. It was almost like someone had arranged for all of those sites to go to J.C. Penney’s website, and would help them out even more by making them be in the top five websites that pop up on google searches. They are ranked so high because when people look something up that J.C. Penney supplies or even has something close to it, their name will pop up because they have all those keywords connecting to their

In 1902, Target’s founder George Dayton opened his first store Dayton Dry Goods Company in Minneapolis, Minnesota. The residents in this community could expect dependable merchandise, fair business practices and a generous spirit of giving from their new store. Mr. Dayton shaped his new store around his personal principals and humanitarian spirit. By 1960, Mr. Dayton entered into mass-market discount and on May 1, 1962 “Tar-zhay” as it’s known by shoppers like me, was born in the twin cities Roseville. Target’s 75 departments would offer customers the best fashions, discounts, quality, prices, and a

J.C. Penney is an American retail company that engages in marketing apparel, home furnishings, jewelry, cosmetics, and cookware. James Cash Penney founded the famous business in 1920. On April 14, 1902, Penney and two partners the dry goods store in the small town of Kemmerer, Wyoming. Penney opened more stores, having 34 stores total in the American West. Originally, the company was called J.C. Penney Stores Company from 1913 to 1924. Later, it was reincorporated as J.C. Penney Co. In 1927, the company became a publicly traded corporation listed on the New York Stock Exchange. The company operated about 1,000 stores in 49 states in the United States and Puerto Rico in the beginning of the 21st century. The headquarters was located in New York

The intensity of rivalry and the threat of substitutes are strong components for J.C. Penney to consider as they continue to strive for increased revenue and market share. Their two primary competitors are Macy’s and Kohl’s, both of whom have fiercely competitive strategies to be strong retail operations. For instance, while Macy’s offers a multitude of promotional deals and is working hard to choose products based upon demographics and geographic segmentation, Kohl’s is attempting to reduce their inventory levels and improve their marketing strategies in order to become a stronger competitor in the department store segment of the retail industry. In order to compete with their competitors, J.C. Penney aims to focus on their previously successful promotions and home department segmentations by bringing in new reputable designers in order to attract a larger customer base. Due to the fact that the intensity of rivalry and threat of substitutes are both moderately strong in the retail department store industry, J.C. Penney ought to be diligent in their implementation of strategies in order to achieve success in the retail business.

The Target Corporation, what used to be known as the Dayton Dry Goods Co., is an American retailing company that was founded in Minneapolis, Minnesota, in 1902. In 1962, the first Target store was opened in Roseville, Minnesota. It is the fifth largest retailer by sales revenue in the United States behind Wal-Mart, The Home Depot, Kroger and Costco. The company is ranked 33rd on the 2007 Fortune 500. Target operates its retailing business exclusively in the United States. It is a rival with Kmart and Wal-Mart. Target was listed in Internet Retailer's list of the top 500 retail web sites in 2007 also, this not only proves of brick and mortar sucsess but also online retail.

Sephora makes large amount of money for JCPenney so that JCPenney is recommended to expand physical Sephora stores in the U.S and also all over the world. Despite of the declining popularity of in-shop stores, JCPenney can still invest more in online stores, enlarging this kind of retail channel.

In the year1962 the Target Organization was established by George Dayton who categories the organization as a concession retailer within the townships of Roseville, Minnesota. A decade later after the organization established it footing within the industry, the small subsidiary developed into the biggest division within The Dayton Corporation. The company advanced from a single discount store to earning its successes over the years from conventional leased superstore practices and discount vending, in addition to general retailing the

JC Penney had to undergo and withstand several competitive issues to include changing of brand image, selling strategy and marketing strategy. JC Penney also had to account for Environmental Factors to include: a population that continued to age and also unemployment rates. JC Penney tried to influence customers by portraying an everlasting sale. No matter how hard JC Penney tried to market their products, if people didn’t