Marketing Mixx

Target Corporation is a public retailing company having headquarters are based in Target Plaza North & Target Plaza South Minneapolis, Minnesota, United States. The company was actually founded in 1902 by George Dayton and was known as Dayton Dry Goods, in 1962 its name was modified to Dayton-Hudson but eventually in 2000 Target Corporation was finalized as a consequence.

Strengths

• The company is very well known after Wal-Mart for the discounted retails of the item displayed.

• Besides being component of Standard & Poor’s 500 index, the company is enjoying 30th position in Fortune 500 list.

• The subsidiaries owned by the Target Corporation include Target.com, Target Financial Services, Target Brands, Target Commercial Interiors, and Target sourcing services.

• The market share is huge in American as it covers all locations of United States except Vermont.

• The company has diversification of its store chain as it includes 1,750 stores according the calculations of 2011.

• The covered area of the target stores is a big one that is 95,000 to 135,000 square feet.

• The revenue of the company increases every year with the current revenue of $67.390 billion.

• The huge human resource of 355,000 assisting the corporation towards its success.

• The products retailed at the store have a great variety including clothing, beauty products, jewelry, health and electronics, shoes, CDs, DVDs, bedding, sporting goods, kitchen supplies, hardware supplies. Pet supplies, toys, and automotive supplies.

• The appealing environment that is safe and sound attracts the customers to shop at the quality places.

• The stores of the company are so divided to satisfy the type of customer at that location through it differentiated division such as Super Target, Urban Stores and Target Green lands.

• Target Corporation running different type of stores such as Target Green lands, Super Target, and Urban Stores.

• The differential product strategy emphasizes more on quality products than that of discounted ones; this policy makes it different from its market rivals like K-Mart and Wal-Mart.

• The attraction of the customers is based on The Company being top gift card seller in United States.

• The company has been well known for its charity especially for educational institutes in United States.

Weaknesses

• The demographic focus is just on America neglecting the need of international presence.

• The company has somewhere lost its attention on marketing plan because of intensive involvement in resolving out the Lawsuits.

• The over emphasis upon the quality makes its products rather expensive than the Wal-Mart.

• The company does not provide attractive wages to the employees; insurances and certifications regarding labors are missing.

• The brand popularity is comparatively low than its competitors.

• The atmosphere inside the Malls is too silent to shop.

• The brands sold out are sometimes complaint to be over dated.

Opportunities

• The announcement of the company’s expansion to Canada by acquiring the Canadian Zeller’s chain. It is estimated that through this 100 to 150 stores would open up there facilitating the profitability for the company and facility to the customers out there.

• The focus to reduce the operational cost and increasing the revenue ratios.

• The private labeled products on the way to increase commendably as they are more focused by the customers as well.

Threats

• Very tough competition with K-Mart and Wal-Mart as both of them share the same place of service and almost same product range.

• The inflation forcing out the consumers to move towards low price rather than better quality.

• The interest rates increasing with increase in government taxes.

References

• Barwise, Patrick (August 16, 2004). "Bullseye: Target’s Cheap Chic Strategy – HBS Working Knowledge". Hbswk.hbs.edu..

• "Company News – Company News – Dayton Hudson Says It Will Change Its Name To Target". (January 14, 2000). NYTimes.com.

• Dobrovolny, Peter. "Sustainability: High Performance Buildings Deliver Increased Retail Sales.” Seattle.gov.