Marketing Plan For Target Corporation Essay

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.

This group will most likely be living alone in an apartment or single family home in the low income section of town that is situated close to strip mall type of shopping center, which may or may not have a major anchor store.

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

Target is headquartered in Minneapolis, Minnesota and is the second largest discount retailer in the United States. Target sells softlines, hardlines, and groceries, non-perishable food, pharmaceutical products, electronics, and many household products. There are three different pyramids at Target; Headquarters, Stores, Distributions Centers. I am going to be discussing the Stores Pyramid. Currently there are 1,763 stores spread out all over the United States except for Vermont.

Target Corporation is the fourth largest retailer in the United States, operating 1,556 stores in 47 states. Formerly known as Dayton Hudson Corporation, Target has three main retail divisions known as Target Stores, Mervyn 's, and Marshall Field 's. Target Stores are number two discount stores in the country, trailing

Retail industry has gradually become the second largest industry, in terms of employment rates and establishments in the united states, it is the leading industry.it is estimated to be generating approximate of $5 billion annually in retail sales. For example, Wal-Mart is the leading retail shop in the world. It has an annual income of $312 billion and has a workforce of around 1.3 million in the united states and internationally it has more than 400,000 associates. It is an international corporation that was established in 1962. It controls a larger market of the retail industry, this is by their widespread chain of grocery stores, supermarkets and department stores.

JC Penney in the early 2000s represented a “brick & mortar” retail powerhouse known for its large diverse selection and competed well with similar retailers such as Kmart and Sears. In 2011 JC Penney was exposed by The New York Times in an internet search scandal involving the tampering with rankings on search engine results. Yet, this was not the only shortcoming in the marketing of their stores. JC Penney had also been caught dishonestly pricing their merchandise so that their sales would appear more appealing. Since then JC Penney has undergone many important shifts in focus on how they would attempt to market their products. Now, in 2016 with their new CEO Marvin Ellison they have managed to rebound their sales closer to what they were and have bolstered their stock price for the time being. To understand what had been done to kindle this new fire four key areas should be looked at. These four components are: price, product, place, and promotion. The four P’s allow a segmented view of what changes have been made and how they have been affecting the consumer market.

Target Corporation is an American retailing company that uses various retail formats that range from low-end to high-end items. It was founded in 1902 by George Draper Dayton. It is now the fourth largest retailer in the United States and operates almost 1600 stores in 47 states (Funding Universe, 2004). Target differentiate themselves by other competitors by offering consumers fashion products and grocery at affordable prices, that drags the customers into purchasing more. A typical Target store averages from 145,000 square ft by 126,000 square ft. (Funding Universe, 2004). The stores are spacious, with a display of a grid format, which concludes in consumers shopping for items that are put on long gondolas so less space would be wasted.

Target corporation was given the name in 2000 and was the work of its top hierarchy after they had decided to expand the organization further from Dayton’s to a name it recently has as a growing corporation in US and worldwide with customers of over 20 million. It is not just the number of people that access the store but extent to which this store had reached out to its customers who worked in a subservient manner.

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).

Today, Target Corporation (Target) is engaged in providing everyday essential goods which are fashionable and differentiated at relatively discounted prices. The Company operates in two branches: United States and Canada. The Company has its own brands such as Archer Farms, Boots & Barkely,Gilligan & O 'Malley, Simply Balanced, Sutton & Dodge, Threshold, Merona, , Market Pantry, up & up, CHEFS, , Wine Cube, Circo, S Room Essentials, Smith & Hawken, Xhilaration, Spritz and Embark among others. In the United States alone, there are 1,795 Target stores with 38 distribution centres.

Target has a strong brand built on the quality of their merchandise. Unlike Wal-Mart whose retail store is built around discounted prices. According to 10 Things You Didn’t Know about Target (2015) Each of Target’s regional distribution centers serves anywhere from 50 to 80 Target stores, can span 1.3 to 1.6 million square feet in size and consist of enough concrete to run a two-lane highway for 25 miles (p.1). The Target Corporation is a resourceful industry; they have many subsidiaries namely Target Commercial interiors, Target.

​The US Retail segment includes Target’s online business, its general merchandise stores, and SuperTargets (Reuters, 2013). Target.com is designed to allow guests to purchase products directly from online and/or to assist them in locating the product in a store near them. To aid in differentiating themselves, Target uses the web platform to sell not only its general merchandise, but also to introduce six brands sold exclusively through this medium (Target Brands, Inc., 2013c). The online presence aids in the vision of the company by offering multiple channels through which a customer can interact with Target. The brick and mortar stores of the US Retail segment offer general merchandise and groceries through the discount chain. Target and SuperTargets differ in that SuperTargets offer a

Looking in to a new phase with Target Target has turned out to be the leader of retail stores that operate in different parts of the US and has made a good reputation as you might want to decipher an extent to which it has been trusted in past two decades to decide the fate of retail shopping as it has prospered in the past few years. There is an expectancy you will want to consider with positive realization that this store has made sales of billions of dollars looking at the number of customers exceeding 100 million in US only. Chances are that this store will carry out most of the online tasks that will get assigned to US consumer business as it has to prosper in future and make essential needs and consider points that are put under use with tactics to please the public that deals with these stores in many situations as there is consideration of making customers provided with sales reaching to a surprising rate. With exception of making visits to the store when you want to communicate with this stores authorities it is expected that you take the incentive.

The proposals that we are going to depose are a planning of continuous action in order to confront the challenges, which BT confronts. The most important factor is considered to be the fact that the marketing environment changed rapidly after the deregulation of the telephone industry. Up to then BT was operating as a monopoly, ignoring the competition and ways to face it.