An early strategic choice to build a brand around the Target name fostered the company's steady growth. From the very beginning, George Dayton's strategy was to position Target as an upscale discount chain at which the prices would be just above the lowest prices. To achieve this upscale image, it offered trendy and stylish goods in an environment that was bright and attractive, unlike other discount stores of the time (HBS Working Knowledge, 2004 para 2). Once a generic strategy is selected Target will also need to consider how to implement its grand strategy to ensure it correlates with its long term goals. In the following paragraphs it describes how Target has identified its best value, and how it has selected a strategy to ensure the company can achieve its long term goals.…
Penney, the last several years have been very successful for Target. Sales have risen from $64.9 billion in 2008 to $73.3 billion in 2012 with net earnings of $2.9 billion (Target Corporation Annual Report, 2012). Even though there have been some difficult economic times for retailers in the last five years, Target has managed to compete with Wal-Mart, grow revenues by almost $10 billion, maintain earnings, establish themselves as a trendy discount store and generously give to charity and education. I think their success speaks volumes for their employees, their management team and the planning and innovativeness of senior management and their Board of…
Target has used innovative marketing strategy and teamed up with several high-end designers to offer affordable collections on a short-term basis to the masses, and has installed many Starbucks within their stores. Graves Design, Isaac Mizrahi, and Missoni are a few of the designers that have partnered with Target. Having a Starbucks inside the store seems to attract many customers who want to get a coffee and shop all at the same time. Target also offers its own brand of up-scale sundries marketed under the Up and Up brand. Target has a market presence which appeals too many middle class Americans looking to get the most value for their money.…
Target Corporation was founded in 1902 by George Dayton in Minneapolis, Minnesota. It was originally called “Dayton Dry Goods Company” and then later became Dayton Company in 1910. By 1962, Dayton Company opened its first discount store in Roseville, Minnesota by the name of “Target”. By 2000, all Dayton Hudson Corporations changed their name to Target Corporation. It opened three operating divisions including Target, Mervyn’s and the Department Store Division. In 2001, Target’s division generated about 80 percent of retail sales and operating income while Mervyn’s generated only 12 percent and the Department Store Division only generated 9% of sales therefore Target merged their e-commerce team and direct merchandising unit into one organization creating Target Corporation opening 74 new stores within the same year. Target’s operating strategy is built on providing great value to their consumers. They distinguish themselves from the competition by differentiating their inventory from other competing retail stores such as Wal-Mart and K-Mart. They are also known as…
For Target the brand is the complete experience for its customers along with the addition of value for your money. This, of course, is only one strategy to stretch the growth of the company. Target has spent years building its brand image and its loyalty among its customers, which is the envy of the retailing world. Target has never been a company to use generic strategies to build their corporation into what it is today. They have needed to be an innovator in retailing and to develop their business model from the ground up. To the level that a corporation grows its business by building upon a core business strategy and the set of skills developed in that business, we can say that it is creating cooperation throughout the business.…
Target Stores' competitive advantage is their "ability to surprise and delight" consumers by carrying affordable items that buyers need and still allowing guests the opportunity to "fill their baskets with what they want." Target has been recognized as a leader in trend…
As of 2017, Target operates 1,834 stores throughout the United States. They are retail formats include the discount store Target, the hypermarket Super Target, and "flexible format" stores previously named City Target and Target…
Target’s purpose and mission statement is “We fulfill the needs and fuel the potential of our guests. That means making Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional experiences—consistently fulfilling our Expect More. Pay Less.® brand promise.” Target’s determination to fulfill the needs and fuel the potential of their guests is leading them to their solutions that drive both business and social value. Target is focused on new ways to build onto Target’s legacy of corporate responsibility. Target works along side and together with their team members, guests, suppliers, and communities to create better outcomes on issues that matter. The focus will always be…
The current age level for the shoppers at Target was 25-34 which is a lot lower than the ages that shop at Walmart. The income levels for these shoppers were 50,000-79999 and females were also their main shoppers. As from the statistics the age of the shoppers was lower than Walmart which is the only difference in between Walmart and Target. From these statistics, the target market for Target seems to be on the Lower end of age while the target market for Walmart seems to be middle age.…
• Target is committed to having their location accessible to many of their current and potential guests…
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 distribution centers. As of June 2, 2010, it operated 1,740 stores in 49 states and the District of Columbia covering 231,941,000 square feet, and has more than 351,000 employees across the United States. Target Corporation’s main competitors are Wal-Mart Stores Inc. (WMT), and Costco Wholesale Corporation (COST). According to its 10-K annual SEC filing, 88% of shares are held by institutional and mutual fund owners. The five largest shareholders of Target Corporation are Gregg W. Steinhafel, Kathryn A. Tesija, Douglas A. Scovanner, Richard M. Kovacevich and John D. Griffith. Segment Performance Target operates as two reportable segments: Retail and Credit Card segments. According to Target’s 10-K annual SEC filing, Target Corporation’s retail segment contains service of merchandising operations, and associate with online services. Its credit card segment gives qualified clients credit cards, such as Target…
As one of the leading retail companies in the United States, it is evident that Target possesses many strengths pertinent to the merchandising industry. These strengths are apparent in Target Corp.’s financial results. Target Corp. has honed in on providing customers with high-quality and innovative merchandise that keeps them coming back to see what the “next new thing” from Target will be. Another main component of Target’s strength is its low price for these high-quality and innovative products. Customers buy in to the “cheap but chic” motto, and keep coming back for more. This allows Target a uniquely strong market position. Target does not only have a few trendy items at low prices, their broad product lines and balanced brand mix are also available at competitively low prices. Targets private label line is their main point of differentiation from other retailers. Their private label product line is extensive and profitable. Target Corp. also has a strong environmental commitment that focuses on the stores surrounding communities and other humanitarian efforts. This impressible feature relays loyalty to the customers and the community’s wellbeing, making them more obliged to becoming a loyal return customer at Target while also attracting new customers. Target Corp. also has a healthy HR department that takes great care of its employees. Their job satisfaction and positive environment is relayed to the customers as they shop.…
In 1962 history was made. An employee of Dayton Dry Goods Company named John. F. Geisse thought of the idea of an upscale discount-relating store. The Dayton Company used Geisse’s idea and opened its first store in Minnesota called “Target,” currently owned by Target Corporation. With more than 1,934 stores across the country, Target has grown into a household staple brand. In fact, Target mega-brand is second only to Wal-Mart. It’s amazing how successful Target has become in such a short period of time, but the question on everyone's mind is how? What makes Target so successful? Do they scam their everyday shoppers or are they genuinely that good? Whether it’s the colors or the adorable dog as their mascot Target is doing something…
Target is a very popular chain store across the United States. In almost every major city you visit, you can find at least one store, maybe even multiple across large suburban areas. The easily recognized red and white bullseye has become a national symbol of a high quality shopping experience with low, affordable prices. But how did Target come to be such an affluent business? Despite having humble beginnings in the midwest, Target has grown to be a well-known, successful chain that has many different products that are high quality to offer to its customers.…
On May 1, 1962, Target 's first store was opened with a grand opening in Roseville, Minn. It was taken as a new idea in discount stores. Target distinguished itself from other retail stores by joining many of the best department store’s features like fashion, quality and services with low prices. By the end of 1962, Target opened its additional locations in St. Louis Park, Crystal and Duluth, Minn.…