Target's Executive Summary

Target Corporation is an evolving company. Target has great expectations for its future. For the year 2015, Target aims to expand its experience in order to effectively alter their customer’s expectations and shopping behavior. Target’s industry outlook starts with opening fifteen new stores for the year. The strategic store growth plans focus on localization and customer experience. Target will establish new store formats such as TargetExpress and CityTarget, while also offering new experiences, merchandising layouts and innovations in its general merchandising stores. (Target.com) The retailer’s TargetExpress is the smallest store format at approximately 20,000 square feet and aims to provide customers with effective quick trip shopping experience.

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.

Target Corporation’s mission statement is to make their company the most sought after shopping destination by delivering a great guest experience with the most innovated technologies and quality merchandise. Target is the second largest general merchandise retailer in America. Target was founded by George Draper Dayton, in 1902, with the name Goodfellow Dry Goods. In 1903, Mr. Dayton changed the name to The Dayton Compay. Furthermore, the first Target store opened in 1962 in the Minneapolis, Minnesota which became the main headquarters. It grew to be the largest division of the Dayton-Hudson Corporation and was subsequently renamed the Target Corporation in 2000. Target anticipates staying ahead by challenging the company to be the most efficient and intellectual upscale company in the retail industry (Target Corporation, 2016).

Marketing Mix includes four basic marketing strategies which is called Product, Pricing, Promotions and Placement , The add on three marketing mix will be People , Process and Physical Evidence. They are combine and called the 7Ps which is under the elements of Service Marketing Mix. Working professionals or businesses use these fundamentals to communicate with and reach their planned target market. Marketers manage decisions about each of the 7P's base their decisions on the individuals they want to win board and make into customers. Marketers must first clearly identify each target market before they can build up marketing strategies.

A product is anything that can be offered to the market to satisfy a customer needs and desires. Product include physical goods, services experiences, events, person, place and etc. It is

While Target is effective in their approach to vast market segments like age and gender relation segments, with the increase in technology and social views the need for innovation and change is consistent. Target currently has their clothing products merchandised on racks in stores, with little displays. If Target were to use manikins, differently lighting and product location tablets between sections Consumers would be able to visually see products that they might have not been able to see before. The customers would be able to quickly look up items on the tablet, which is innovative for both age and gender segments. The customer would be able to look up different color schemes, sizes and located them quickly while

Target Corporation, Target, is an exclusive retail discounter that provides on-trend, high quality merchandise at competitive prices in orderly and expansive guest-friendly stores. In addition to the retail stores, Target operates an online business, Target.com (Target.com, 2012). Target Corporation (NYSE:TGT) assists customers at 1,763 stores across the United States and also at Target.com. In 2013 the organization is planning to open their first stores in Canada. In addition to the retail segment, the organization operates a credit card subdivision that offers branded proprietary credit card products (Target.com, 2012). Target Corporation’s fiscal year ends on the Saturday nearest January 31st, unless otherwise stated. “References to

The three-year return on the stock price of Target Corp is 55.79. The stock is performing very well increasing each year. In January 4 2015, Target Corp was at $77.13. In January 4, 2016, Target Corp is 71.38. In January 3, 2017, Target Corp was at $71.44. The three-year return on the stock price of Costco is $173.22. The stock is performing very well, increasing each year. In 2015, the stock was at $145.56 on January 4, 2015. In 2016, the stock went to $151.11 on same time last year, and 162.83 on January 3, 2017. Both of these stocks are comparable by steadily increasing. This indicates that their sales are increasing which means consumers are contributing all the time.

Nearly everyone is at least somewhat familiar with Target stores; the famous bullseye logo is identifiable all across the United States. With the motto "Expect More, Pay Less", the company suggests that customers can expect more of everything, at more reasonable prices.1 Target's commitment to the consumer, as well as it's employment consideration and management style led Fortune Magazine to name it as one of the Most Admired Companies in 2005.

According to the case “Target is Trying to Overcome the Problem of Show-rooming”, Target is faced with developing a solution that decreases the odds of offering products in its stores that consumers can evaluate and then purchase from online competitors (Kinicki & Williams, 2013, p. 34). Target generally compromises with its suppliers to continue as a competitive force in the discount chain industry; however, Target’s traditional compromising will have to be altered to ethically compete with online retailers, such as Amazon, that have devised plans for generating profit from losses. Although Target is second in its industry, consumers’ preferences will have to be considered as the driving factor to the solution, rather than Target’s position.

The 4 P’s of marketing, product, price, place and promotion, together these four make the marketing mix, They are mostly the main elements of marketing and most, if not all, of what you can control about a marketing campaign. These are a set of strategies to achieve an organizations objectives and make sure that customer needs are satisfied. Just like different organizations Rock Jam uses the most basic way of a marketing mix , and that’s considering the product, price, place and promotion. The product which is the artist, a record, a song, a concert, a T-shirt, a download, a physical CD, a ring tone, access to an exclusive online portal or fan club, these are the things sold. In fact, the idea of a music product has become increasingly

The second target segment is School Children. School children are a very important as children have a large proportion of family expenses (Pewa, 2016). Children often present large brand loyalty (Lamb, 2016). It is believed that children will constantly request a good or service from their parents. Often children might see a product advertised by sporting star and will have an instant connection and want the good or service (MH Practise, 2016).

Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.

Promotion is an aspect of the marketing mix that has great importance. In order for our product to be successful, the promotion we use will be very vital. This is because of the fact that the method of promotion we use for the product can help to differentiate our product from other products which makes it unique and outstanding amongst other brands. Moreover, using the right promotion can be used as a way to persuade consumers of our product that they made the right choice.

Product: This is the most important thing in the mix, the physical product or the service that the entity is offering for sale to the public. Alpha ltd will need to market this to the customers by telling them the unique features and benefits the product has to offer as Alpha ltd did