As we have all come to learn, making the decision as to whether or not to expand an organizations operating capabilities internationally is a major undertaking involving a wide ranging span of variables, factors and considerations that upper management must take into account. Taking the big leap to open up your organizations doors in a foreign land can almost be a scary thought if your organization has not adequately planned out a detailed international expansion strategy that involves a thorough environmental assessment of the country or region that you are planning on expanding into. There are also numerous stories out there of major U.S. retailers that have tried to expand aggressively on the global forefront and are have experienced …show more content…
Throughout our analysis of the potential feasibility of a Target international expansion into Mexico we will first give you a brief history of how Target got to where they are today and the different products and services that they currently offer. We will then give a breakdown of the Mexican market explaining why this market is feasible including the potential demand for Target products in this region as well as a political assessment of the region. Other factors that we have included in our considerations for expansion into this international market are the Mexican culture and values, our strategy for entering this market, and Target’s goals and concerns for entering this market.
Target History
Target as organization has a long storied history that dates back to the very beginning of the twentieth century. In 1902 it all started with George D. Dayton becoming a partner in the fourth largest department store in Minneapolis, MN, Goodfellow’s Dry Goods Company. The following year George takes over as sole owner of the company and renames it Dayton Dry Goods Company. As President, George Dayton stayed active in the management of the company for nearly forty years until his death in 1938, when operations were then taken over by his son and grandsons who had plans to make the store a nationwide retailer. By 1911 the company is growing rapidly and
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.
Company Profile Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota. Target Corporation operates general merchandise and food discount stores in the United States. It operates as two reportable segments: Retail and Credit Card. The company offers household essentials, including electronics, music, and toys; apparel and accessories; home furnishings as well as seasonal merchandise. It also sells its merchandise under private-label brands, such as Archer Farms, etc. Target Corporation operates in-store amenities, such as Target Caféand Target Clinic as well. Its marketing strategy includes selling its products on its online shopping site Target.com and its network of
Target Corporation was founded in 1902 in Minneapolis as the Dayton Dry Goods Company, though the first Target store was opened in 1962 in nearby Roseville, Minnesota. Not until 1995, was the first Super Target was built. In 1999 Target launched their website Target.com. Target grew and eventually became the largest division of Dayton Hudson Corporation, culminating in the company being renamed as Target Corporation in August 2000. The Corporation became a major retailing power house with $52.6 billion in revenues from 1,397 stores in 47 states by 2005. Realizing a 12.1% sales growth over the past five years target had announced plans to continue its growth by opening
Headquartered in Minneapolis Minnesota, Target Corporation is one of the largest chains of retail stores in United States and Canada (Stone, 1995). Founded in 1902, the chain now has more than 360,000 employees worldwide. The company operates nearly 1925 stores out of which 1795 stores are in the US and 130 stores are in Canada (NASDAQ, 2014). The business prides itself in a diverse portfolio of merchandise that their outlets houses, ranging from dry groceries to electronics, furniture, apparel and much more. Its distribution networks make use of third party vendors, direct shipping as well as distribution centers. It also operates a successful e-store target.com which offers customers a virtual one-stop shop for their needs.
Target Corporation was founded in 1902 and headquartered in Minneapolis, Minnesota. Target Corporation operates general merchandise and food discount stores throughout the United States. The company’s products range from household essentials, to electronics, to toys, to apparel and accessories, to home furnishings, to food and pet supplies. Most of the merchandise is sold under Target and SuperTarget trademarks, but it also sells under private-label brands, such as Archer Farms, Circo, Merona, and Room Essentials. The company also offers merchandise through programs like ClearRx, Great Save, and Home Design Event. Additionally, Target markets its merchandise under license and designer
Target Corporation is an American retailing company, founded in 1902 and headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States. The company is ranked 36th on the Fortune 500 as of 2013. The first Target store was opened in 1962 in Roseville, Minnesota. Today Target operates 1,934 stores in the United States with over 347,000 team members worldwide.
Target was founded in 1902 first named Dayton Dry Goods Company by founder George D. Dayton (Target, 2015). After a lot of expansion and growth, Dayton Dry Goods was renamed to Target in 1961 after a mass marketing move to cater to value-oriented shoppers that wanted high quality items. In 1962, the Target bullseye symbol was adopted (Target, 2015). Over the years Target began to expand and grow throughout the entire United States. In 1983, Target was recognized for their community involvement (Target, 2015). Target has grown with technology as being the first mass merchandiser in 1983 to implement UPC scanning in their stores and distributors. In support of education, Target
Target Corporation did not started out as Target but Dayton Department Store. The founder of Dayton Department store is George D. Dayton. Mr. Dayton, was banker and realtor from New York. In 1902 Mr. Dayton decided to move to Minneapolis and open up his department stores. In 1960 the Dayton family had a new vision and decided change from a department store to a “discount retailing.” In 1962, President/CEO Doug Dayton, open the first four Targets in Roseville, Saint Louis Park, Crystal and Duluth, Minneapolis (corporate.target 2014)
The Target Corporation is a general merchandise retailer that opened up in in 1962 under the parent company of Dayton Corporation. This parent company was renamed the Target Corporation in 2000 and are based out of Minneapolis. There are over 1,800 Target stores throughout the United States which includes Targets and Super Targets. In 2005 Target began expansion in India and in 2011 to Canada however this expansion into Canada did not fare well and all Target Canada stores were closed by 2015. According to Forbes in 2005 they we ranked amongst the highest cash-giving companies in America with 2.1% given and they donate about 5% of its pre-tax operating profit. In 2010 Target was ranked number 22 by Fortune magazine’s World's Most Admired Companies.
The Target Corporation formerly known as “The Dayton Dry Goods Company” is a major retailing company that was founded in 1902 in Minneapolis, Minnesota by George Draper Dayton. It is ranked the second largest discount retailer in the United States and ranked thirty- sixth on the Fortune 500 as of 2013. The Target Corporation has been serving this nation with the best price possible goods since their expansion from “Dayton” and is continuously winning the hearts of consumers with their dedication and service. A phenomenal merchandising strategy and cross channeling has enabled this upscale discounter to serve their purpose of customer loyalty and fulfill their promise of “Expect more and Pay less”.
Target Corporation is a retail chain specializing in household goods, clothing, food, and accessories at discounted prices. The retail chain’s history started back in 1902 as Goodfellows and in 1910 as The Dayton Company. Initially, the chain specialized in “furnishings, fabrics and decorations for business and other public institutions” (“Target Corporation,” 2016, p. 5). Eventually, Target went public in 1967 and on to acquire Mervyn’s in the 1970s where they became the seventh largest retailer in the United States. Target operates in the United States, where it is headquartered in Minneapolis, Minnesota and as of January 31, 2015 Target employs over 300,000 people. “The company recorded revenues of $72,618 million in the financial year ended January 2015, the operating profit of the company was $4,535 million, [and] the net profit was $2,449 million” (“Target
With its headquarters in Minneapolis, Minnesota, Target is a continuously striving company focused on improving every aspect of their business – whether it's their merchandising for guests, technology solutions, or even the future design of the company. The first Target store was founded and created in 1932 in Roseville, Minnesota by George Dayton. Originally created to be a discounted merchandising company, Target surpassed all doubters expectations when it began to offer common stock, and 1969, merging with J.L. Hudson and for the first time, Target revenues topped $1 billion dollars. Today Target is
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.
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
Target is an upscale discounter that provides high-quality, trendy merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. It all started in 1902, when George Dayton joined in partnership with Goodfellow’s Dry Goods Company, the fourth biggest department store that is located in Minneapolis, MN. Dayton, wanting to be more involved in the company bought out Goodfellow’s to become sole owner and President of Dayton Dry Goods Company (Target Corporation, 2014). Travel on down through the years as Daytons continues to grow, until 1962. That was the year an icon was born, its name is “Target.”