Target Corp.

3648 Words Aug 6th, 2010 15 Pages
TARGET CORPORATION

Introduction

The Target Bulls-eye logo has become instantly recognizable and synonymous with high quality and style at affordable prices. From its origins in 1902 as The Dayton Dry Goods Company in Minneapolis, Minnesota to the opening of the first Target store in 1962 in Roseville, Minnesota, Target Corporation has grown into one of top five retailers in the United States today with over 1,600 stores and 350,000 employees. Total revenues and net earnings for 2008 reached $64.9 billion and $2.2 billion respectively (Target Corporation, n.d.). Such results rank Target as the 28th largest U.S. Corporation with a market value of $25.7 billion as of March 2009 (Largest U.S., 2009). Innovative marketing strategies
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As a result, the company focuses on its target markets and effectively delivers on its value proposition to satisfy its customer’s needs, wants, and demands.

Marketing Environment Awareness

As markets grow increasingly competitive, new strategies are constantly being formulated to create and sustain competitive advantage. From a marketing perspective, a growing number of companies have adopted a holistic marketing concept as a strategic application valuable for its completeness and cohesiveness (Kotler & Keller, 2009). For Target, such an all-encompassing strategy is directly correlated to the company’s mission of building customer value. Target’s relationship marketing approach has built an effective marketing network among customers, employees, and marketing partners. Successful branding activities have enabled Target to associate its name with a younger, hipper clientele (Barwise & Meehan, 2004). Following the success of designer partnerships, Target currently works with a small NY design agency looking for innovative designers that can help with Target’s marketing strategies (Jana, 2008). The company’s relationship marketing approach has also translated well in its e-commerce platform. In 2001, the company formed a strategic partnership with Amazon.com to build its online presence. Target hopes to capitalize on a redesigned site and the established relationships with online
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