MarketingStrategy
Target Hits the Bulls-Eye Every Time
Sriaditya Medicherla smedic2@uic.edu EXECUTIVE SUMMARY
Target is a rapidly growing discounted retail chain with a greatly growing customer base and a highly recognized brand name. It has a strong competition in the market in the form of Walmart,
Costco and since it has now entered the web space it is also completing against the likes of
Amazon.com and BestBuy.com.
Target provides a line of products including everyday essentials to sports goods and furniture.
Target will achieve prominence with its differentiation factors like importance to cleanliness, quality of products and the competitive pricing it has to offer.
The following paper has described in more detail the marketing framework including their pricing strategy, placement, product and promotion used to differentiate themselves from the competition and the way Target has aligned itself to the current marketing trends.
INTRODUCTION
Target Corporation is one of the largest American retailing store, headquartered in
Minneapolis, Minnesota and was founded in the year 1902. It is a Fortune 500 company and was placed at the 36th position in 2014. Target Corporation has 1,917[1] stores with in the United States, it expanded to Canada in March 2013 and operated 127 locations. It had 133 stores in Canada by the end of 2014. Target stores carry shoes, clothing, health products, electronics, DVDs, bedding, kitchen supplies, furniture, sporting goods, toys, automotive supplies and some amount of groceries. It started off as The Dayton Dry Goods Company when Mr. George Draper Dayton decided to take advantage of the growth opportunities in Minneapolis. The store became well known for its merchandise and fair business practices [3]. As years go by, successive presidents of Dayton started expanding to newer avenues and finally in the year of 1962, the first Target store opened in
Roseville, MN. With this, Target entered into the world of discount retailing. Target came up with
their
Sriaditya Medicherla smedic2@uic.edu EXECUTIVE SUMMARY
Target is a rapidly growing discounted retail chain with a greatly growing customer base and a highly recognized brand name. It has a strong competition in the market in the form of Walmart,
Costco and since it has now entered the web space it is also completing against the likes of
Amazon.com and BestBuy.com.
Target provides a line of products including everyday essentials to sports goods and furniture.
Target will achieve prominence with its differentiation factors like importance to cleanliness, quality of products and the competitive pricing it has to offer.
The following paper has described in more detail the marketing framework including their pricing strategy, placement, product and promotion used to differentiate themselves from the competition and the way Target has aligned itself to the current marketing trends.
INTRODUCTION
Target Corporation is one of the largest American retailing store, headquartered in
Minneapolis, Minnesota and was founded in the year 1902. It is a Fortune 500 company and was placed at the 36th position in 2014. Target Corporation has 1,917[1] stores with in the United States, it expanded to Canada in March 2013 and operated 127 locations. It had 133 stores in Canada by the end of 2014. Target stores carry shoes, clothing, health products, electronics, DVDs, bedding, kitchen supplies, furniture, sporting goods, toys, automotive supplies and some amount of groceries. It started off as The Dayton Dry Goods Company when Mr. George Draper Dayton decided to take advantage of the growth opportunities in Minneapolis. The store became well known for its merchandise and fair business practices [3]. As years go by, successive presidents of Dayton started expanding to newer avenues and finally in the year of 1962, the first Target store opened in
Roseville, MN. With this, Target entered into the world of discount retailing. Target came up with
their