Target Corporation operates in three major market segments. It operates the U.S. etail segment, the U.S. credit card segment, and the Canadian credit card segment. In the U.S. etail segment, consumers can purchase items either online or by locating them in one of its stores. Target operates in the discount general merchandise retail segment. Its credit card segment offers a Target visa, Target card, and branded Target debit card. As of January 2012 Target had 1,763 stores in 49 states and in the Distinct of Columbia (Money .CNN.com, 2012). This research explores Target's Organizational Structure.
Organiuzational Functions
Target has many of the same organizational functions as other similar retail stores. Functions can be divided into eight general categories. These eight categories also consist of more specialized functions within the category. However, for the purposes of this study, it is only necessary to mention the general categories. The categories are…...
Target Corporation: Facility Planning
Target Corporation started working on improvement of operation logistics back in 1991 when it realized that back end of its supply chain was causing problems and had a big room for improvement. They needed better facility location planning especially for returned merchandise which had earlier been a messy process since each retail store had its own back room for returned merchandise and there was no centralization. For better facility planning, Target Corporation began using a more centralized system for returned merchandise so managers in each store could focus on merchandise that needed to be sold and on inventory checking instead of dealing with merchandise that had to be returned to factories.
The managers needed to focus on availability of right number of needed merchandise and with better facility planning, managers could better deal with theft and damages caused to returned merchandise that was lying idle in back rooms…...
Target Corporation (NYSE: TGT) is a discount store that operate almost entirely in the United States (it has plans to expand into Canada in the next couple of years). The company began life as Dayton's, but by the 1960s the Target name was had been launched and the company had begun to expand beyond its home market (Target.com, 2012). Today, Target operates two business divisions -- retail and credit card (Target 2010 Annual Report). The company's sales by product category are as follows:
Industry
Target competes broadly in the retail industry and more specifically in the discount retail industry. The retail industry, according to the U.S. Census Bureau was $4.13 trillion in size in 2009 (Farfan, 2011). That year, Target had sales of $65 billion (MSN Moneycentral, 2012). hile this is just 1.5% of this highly-fragmented industry, Target is still one of the largest companies in retail, albeit well behind #1 al-Mart.…...
Target Corporation Capital Expenditure Committee
In modern corporations, various projects compete for the same source of capital allocated for new investments. In preparing an analysis for a Capital Expenditure Committee, the two most important predictive financial metrics used are Net Present Value (NPV) and Internal Rate of Return (IRR). NPV is the present value of the project's cash inflows minus the present value of the project's cash outflows. It indicates the expected impact of the project on the value of the firm. A positive NPV increases the value of the firm. When comparing among mutually exclusive projects, the highest NPV is key in decision making. The IRR is that discount or interest rate which will cause the present value of all future cash flows to equal the incremental investment. In other words, it's the discount rate at which the NPV of a project eventually equals zero. All projects with an IRR…...
discount chain store Target is inseparable from the history of the Dayton Hudson Corporation, a long-standing leader in American mass retail. In 1902, George Dayton opened a modest department store in downtown Minneapolis named Goodfellows, one of the many that appeared on Main streets all over the United States. Over the course of the next few years, while changing the company name several times before settling on The Dayton Company, he not only established his store as an institution in the Minneapolis marketplace, but also in the Minneapolis community; five percent of all of the profits of the Dayton Company went directly back into the environment. It is on these basic principles of recognition, establishment, and commitment to community that Target Corporation strides today.
Target Corporation: History, Environment, and Success.
By the middle of the twentieth century, the Dayton Company was well on its way to corporate success. At the same…...
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"Terence J. Scully." Forbes -- Person Tearsheet.
"Target Limits Access to Cold Medicines." Wall Street Journal (Eastern Edition). New York, N.Y.: Apr. 19, 2005.
Hochstein, Marc. "In Brief: Target's Fiscal 4Q Card Profits Up 21%." American Banker. New York: Feb. 18, 2005. Vol. 140, Iss. 34, p. 5.
Target Corporation and Wal-Mart Stores, Inc.
The companies being analyzed are Target Corporation and Wal-Mart Stores, Inc. They are general merchandise retailers. They compete in the large-store general merchandise market, especially in the discount store segment and the U.S. geographic market.
Target Corporation's Store rands in multiple formats are Target, Super Target, Mervyn's, Marshall Field's, Target Direct and Target Visa. Target operates 1409 stores in 47 states in the United States and is currently the No.3 discount retailer in the U.S. market.
Wal-Mart Stores, Inc. has several Store rands: Wal-Mart currently operates 2295 Wal-Mart Discount Stores; 1521 Supercenters; 564 Sam's Clubs and 34 Neighbourhood Markets in 9 countries outside the U.S. - Argentina; razil; Canada; China; Germany; South Korea; Mexico; Puerto Rico; United Kingdom. Wal-Mart is today the world's largest retailer (and company measured by revenue) and occupies the No.1 position in the U.S. General Merchandise Retail Market.
In regard to investment decisions:
Wal-Mart…...
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Bibliography
BusinessWeek Online, Robert Burner, February 27, 2002
Yahoo Finance, Wal-Mart Stores, Inc., Press Release, February 19, 2002
Yahoo Finance, Reuters Business Report, May 21, 2002
Morningstar.com, Analyst Report, Mike Porter, May 3, 2002
Target Corporation:
Corporate Structure, Strategy, and Competitive Environment
The Target Corporation is fascinating, as it has been able to grow and compete with others that are better known, such as al-Mart. A history of the Target Corporation is important, but it will be kept brief and to the point, as there is more of a need for analysis of the current situation with the Target Corporation than there is for a reconstruction of how it was gotten to this point in its history. Some information, however, is necessary for a more complete understanding of where the Target Corporation stands now and where it appears that it will be going in the future if it stays on the same path. The rest of the information contained herein will be an analysis of the corporate strategy that Target has and what kinds of changes should be made to it to ensure that the…...
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Works Cited
Beam, Henry, and David, Fred R. "Dayton Hudson Corporation -- 1998." (1999).Strategic Management Cases. Upper Saddle River, New Jersey: Prentice Hall.
Biesada, Alex. (2004). Target Corporation. .
Cameron, Ben. (2001). "In the Most Unlikely Places."(business and the arts)(Brief Article) (Column)" American Theatre, 18.
Coulter, Mary K. (1998). "Strategic Management in Action." Upper Saddle River, New Jersey: Prentice Hall.
Managing Change Final
Change is an ongoing process that is inevitable; organizations no longer have an option to avoid change, and therefore they have to change in order to survive and avoid being obsolete. It is quite a challenging thing for an organization to change, let alone a single individual. This places huge and increased pressure on the management of an organization to discern and manage the important details of change. Therefore, managers of organization have to understand how to manage change. There are several aspects to consider in managing change. These include questions such as, how do organizations detect when they ought to change, and the cues the company should look for, and etc. All organizations face several different forces for change that range from the internal, emanating from within the organization, to the external, which emanate outside the organization. Cognizance of these forces can assist managers to decide when…...
Jick, T., & Peiperl, M. (2003). Managing Change: Cases and Concepts. Boston: McGraw Hill/Irwin.
Jones, J., Aguirre, D., Calderone, M. (2014). 10 Principles of Change Management: Tools and techniques to help companies transform quickly. Strategy + Business. Retrieved 9 July 2015 from: http://www.strategy-business.com/article/rr00006?gko=643d0
Marketing Mix
Target Corporation was founded in 1902 and is now the sixth-largest retailer in the United States founded in 1902 in Minnesota. Target Corporation currently operates over 1,450 stores in 47 states. The key to Target's success is how it uses the marketing mix. The marketing mix is a controllable variable that the company puts together to satisfy customer needs. The marketing mix is also referred to as the four 's or four elements product, place, price, and promotion. This paper will provide a brief description of these four elements and how each one of the elements affects the development of their organization. Additionally this paper will describe the implementation of each element.
All four 's of the marketing mix are necessary and final decisions about them should be made at the same time to ensure maximum congruence between the variables. roduct for Target refers to the goods that they stock.…...
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Promotion is the concern of telling and selling the customer (Kotler, 2002, p. 37). Promotion includes three methods of communication personal selling, mass selling, and sales promotion. Personal selling is a form of direct communication between sellers and customers such as customer service. Mass selling is communicating with a large number of customers at the same time such as advertising. Sales promotion is other nontraditional promotional activities such as coupons, samples, and catalogs. Price is the concern for pricing product in consideration of not only the competition but also the customer's reaction to the price as they may or may not buy the product or service depending on the price. Target is focused on providing goods at a low price, and aggressively seeks to deliver prices that are in line with the competition.
As noted, the different ways in which product, placement, promotion and price come together are critical to the development of an effective marketing plan. For example, product affects the development of the organization's marketing strategy and tactics. In this case, the marketing strategy is built around communicating to the customers the concept of value that Target delivers, with both product and price being built into that value concept.
Target has several different types of retail stores containing different product for different target markets. Target operates basic stores selling general items like clothing, limited groceries, as well as seasonal and holiday items. Many of the stores have a portrait studio,
Integrated Marketing Communication Campaign for Target Corporation in Canada
Communication Plan for Target Canada
Key Objectives
The primary objective associated with the communication plan is to create brand awareness for Target Corporation in Canadian market. With the implementation of this communication plan, Target Corporation aims to attract the most potential customers from the market and promote its products in order to boost up its sales performance and become the strongest retail brand in Canada. Thus, the key objectives of the plan include:
Create brand awareness among general customers
Promote quality, price-cuts, and superior customer services that are the core strengths of Target Corporation.
Boost up the sales performance in urban areas of the country
Maintain a steady flow of customers throughout the year
unning an effective communication campaign on different marketing and promotional mediums
Fulfilling the needs of the customers by offering a wide range of products for 24-hour requirements.
2. Communication Strategy
i. Target Audience:
Being a large scale retailer, Target…...
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References
Clow, K.E. & Baack, D. (2009). Integrated Advertising, Promotion, and Marketing Communicaitons, 1st Edition. New Delhi: Pearson.
Mullin, R. & Cummins, J. (2008). Sales Promotion: How to Create, Implement & Integrate Campaigns that Really Work, 4th Edition. London: Kogan Page.
Smith, P.R. & Taylor, J. (2004). Marketing Communications: An Integrated Approach, 4th Edition. Sterling (VA): Kogan Page.
Target Corporation, (2013). Our Company. Retrieved on June 15th, 2013, from
Unfortunately, in comparison to some of its competitors, like al-Mart and dollar stores, because Target does not offer rock-bottom prices, but strikes a balance between quality and low prices, its fortunes have been suffering as of late. Also, it has chosen to emphasize less necessary goods like clothing and home goods, to create its image of giving an exceptional shopping experience, as well as being a place to pick up a box of cornflakes. But for that reason as well, consumers have been more likely to patronize stores that focus on basic necessities like al-Mart, when they must prioritize their needs (Gregory 2009). Consumers do not merely want to 'pay less,' now, they want to pay the lowest prices possible.
orks Cited
Gregory, Sean. (2009). al-Mart vs. Target: No contest in the recession. Time Magazine. Retrieved May 13, 2009 at http://www.time.com/time/business/article/0,8599,1885133,00.html
Our Mission. (2009). Target: Company. Retrieved May 13, 2009 at http://sites.target.com/site/en/company/page.jsp?contentId=CMP04-031699...
Target vs. Walmart Financial Analysis
Synopsis of the Companies
Wal-Mart Store Inc. became originally established in the year 1945 and is in the present day undertaking its operations in retail stores in over twenty-seven countries. The company is split into three key segments. These are Walmart International, Walmart United States and Sam's Club. The business undertaken by Walmart as a company encompasses restaurants, superstores, retail stores and also warehouse clubs. The company also undertakes e-commerce through its website Walmart.com. In terms of retail products, the merchandises being sold in Walmart's retail stores include baby products, healthcare products, household goods, electronics, books, automotive products, clothing, furnishings and decor, alcohol, grocery, paper products and so much more. The leadership and control of the company is held by the Walton family, which owns about forty-eight percent of the shares of the company. Walmart was established by Sam Walton and therefore shows why the family owns…...
Outcomes
Efforts: Cultural Awareness and Civil Engagement Activities
Civil Engagement
Target Corporation believes that sharing their experience and resources with policy makers will give rise to better decisions for communities and businesses. The civic activities of Target can be categorized into public policy, issue advocacy, and political engagement.
1. Public Policy
The company believes that participating in legislative and public-policy activity is a significant and essential constituent of being a differentiated, multinational retail business. Target works in tandem with voted officials of both political parties to aid in shaping positive public policy solutions that are beneficial to its business operations, team members, clientele, as well as the consumers they serve. The corporation is dedicated to ensuring the alignment of public-policy activities and business interests, capitalizing on a decision-making process to support continuing amenability with their alignment goal, and sustaining transparency to all stakeholders. Notably, in the 2012 fiscal year, Target Corporation unveiled Citizens@Target, which is…...
Target is among the leaders in retail trading in the U.S. The company offers perishables, dry grocery, dairy and frozen items and all food items comparable to traditional supermarkets. The company has three primary types of stores -- SuperTarget, CityTarget and TargetExpress. The company recorded a loss of 1.9% in 2014-2015 compared to the previous year with a fall in net earnings of 9.1%. The total sale in the period was $U72.6 billion.
The company has 1,799 stores in the U.S. along with 38 distribution centers. The company has staff strength of 347,000 worldwide. It also does business online through its website 'target.com'.
With the aim of easing the shopping experience for customers and discounted prices, the first store of Target was opened…...
Target Israel SOT
Global Fighter Jets, as a producer of military equipment, benefits from the SOT analysis of the countries it wishes to sell its product. Global's F35 is planned to be sold and manufactured within the nation of Israel. The unique factors regarding this particular selection need to be explored to truly gauge and understand the scope and magnitude of such a business venture. The purpose of this essay is to conduct a SOT analysis on Israel regarding the F35 Global Fighter Jet product. This analysis will examine internal strengths and weakness of Global Fighter Jets by analyzing its business mode and how best it might serve the company's objectives. The external opportunities and threats that lie within this specific Israeli market will then be discussed. The paper will conclude with comments on how to best manage the risks of this expenditure and introduce a successful strategy to make Global…...
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