One of the largest discount franchises in America wasn’t always recognized as Target, however, as the Dayton Dry Goods Company. Which was founded in 1902 by George Dayton who had an outstanding and extensive seven years of background in real estate. Dayton Company was credited as a family run business with dependable products and a fair business strategy. When George Dayton died in 1938 the business continued to be family run until 1983. With the Dayton management, they expanded into a Department store by including commercial interior, opened in numerous malls, and eventually expanded nationally in the United States.
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Converting into a discount-store helped target a larger group of people. Changing the company’s positioning influenced the change of the brand name stores to Target and set the logo as the bullseye target as a run of for the new name. Additionally, partnering with the Hudson Bay Company to make Dayton-Hudson Corporation. In 1994 Target rewrote their slogan to “Expect more. Payless.” to strive for their main abilities; value, quality service, and price. Continuing with creating their brand characteristics Target introduced the bullseye dog an English bull terrier to further establish and construct an emotional connection between the customers and the brand. Throughout the early 2000’s Target began converging into a Superstore by launching brand extensions such as a private food label, meat, and chocolate brand. Proceeding with their service and products in 2004 Target launches their on-store dollar section and updated and expand their stores to include food selection, refreshing their slogan to “Eat well. Payless”. With Target as the core foundation influenced the change from Dayton-Hudson Corporation towards Target Corporation.
Target has many competitors in the market, and the level of competition is highly intense. Some of its main rivals are Wal-Mart stores, Home Depot and Costco Wholesale Corp. All of them produce similar products as well as offer almost the same services to their consumers. Naturally, the organization would need a strategy that helps it to stand out and to distinguish it from its competitors, thus, Target 's positioning was based on more than just pricing; it combined quality and style. This was the differentiation strategy that have always been applied since the launch of the organization.
Target must compete vigorously and fairly in the marketplace using our independent judgment to make the best decisions for the Company.
Target, a high-end discount department store, hoped to continue expanding and adding to the company’s 1,752 stores, by purchasing 200 Zellers stores, located in Canada. One of Target’s, longtime goals was to expand into Canada , and after a decade, the company took a jump across the border (Shaw, 2011). Because many thousand Canadians hold a Red Card, Target’s reward card, Target assumed this would be a successful expansion, increasing the amount of US brands that encompass Canada’s market. Target spent a year converting the Zeller stores, altering and renovating them to transform them into Target Canada, a subsidiary of Target (Shaw, 2011). They opened 124 stores in locations all over Canada, hiring back only one percent of the former Zellers employees, desiring to make a fresh start for the department store chain (Target Refused Zellers Workers).
“GameStop traces its roots to Babbage’s a small software retailer that started in Dallas, Texas in 1984. The movement that made Babbage’s into GameStop started in 1994 with a series of mergers between Babbage’s and several other software retailers. When Babbage has first merged with software Etc. in 1994, the combined company was named NeoStar Retail, but the two halves continued to operate as if they were separate entities.” (Gamestop Corp, 2013) At the time when the company first started out, they acquired just 800 stores for now. (Gamestop Corp, 2013)
Target, the nation's #2 discount chain, now operates more than 1,500 Target and Super Target stores in 47 states, as well as an online business called Target.com. Target and its larger grocery-carrying stores, Super Target, have carved out a niche by offering more upscale, fashion-forward merchandise than rivals Wal-Mart and Kmart. After years of struggling to turn around its Marshall Fields and Mervyns departments stores divisions, the discounter sold them both in 2004. Target also owns apparel supplier The Associated Merchandising Corp. and issues Target Visa and its proprietary Target Card (www.Answers.com/topic/target-corporation).
According to www.targetcorp.com, Target is an upscale discount retail chain that sells quality products at attractive prices, and prides itself on clean, spacious, and guest-friendly stores. Target is the second largest "general merchandise" retailer (behind Wal-Mart); selling almost anything one would need to complete the "one stop shop", especially with the addition of the SuperTarget stores. The first Target opened in Roseville, Minnesota in 1962. Since then, 1,330 stores located in forty-seven different states, which includes the 141 SuperTarget stores, have opened nationwide. Target also has twenty-two distribution centers located in nineteen states. In addition to the vast number of store locations, Target also has other businesses that include: Target.com, Target Financial Services, Associated Merchandising Corporation, and Target commercial Interiors. Through all the key businesses, Target employs nearly 300,000 people from diverse backgrounds. The current Chairman and CEO of Target is Bob Ulrich.
1. The Discount Department Store. Target prefers to be called as the latter instead of just department store. Expect more, pay less. With this tagline, the customers expect to purchase more items and pay the least amount possible. Not like other retail industries like its competitor Kmart and Wal-Mart, Target maintains retail value in terms of product offerings. They are known in their designer’s items in clothes, exclusive beauty products, categorized and functional goods, and seasonal offerings. It also sells the greatest number of gift cards among its rival business.
Target Corporation has indicated a significant increase in the number of years it has been operational. The company experienced important changes in growth when it transformed from a regional store to a national retailer.
The Target Corporation formerly known as “The Dayton Dry Goods Company” is a major retailing company that was founded in 1902 in Minneapolis, Minnesota by George Draper Dayton. It is ranked the second largest discount retailer in the United States and ranked thirty- sixth on the Fortune 500 as of 2013. The Target Corporation has been serving this nation with the best price possible goods since their expansion from “Dayton” and is continuously winning the hearts of consumers with their dedication and service. A phenomenal merchandising strategy and cross channeling has enabled this upscale discounter to serve their purpose of customer loyalty and fulfill their promise of “Expect more and Pay less”.
Company Selection Paper Team B's assignment this week was to select two different publicly traded companies in the same industry. The two companies will serve as the basis for subsequent team assignments. The two companies chosen for the study are Wal-Mart and Target. This paper provides an overview of each of the selected companies. Date of Company Establishment Wal-Mart was established in 1962 by Sam Walton.
Professor David Soberman describes his disappointing experience, “I have gone into Target stores looking for things, and the product line is not where it needs to be. You want certain things, but you can’t find them. You can find them at Wal-Mart. I just took my child down to school at Queen’s, and I was trying to buy things. I got 95 per cent of what I wanted at Wal-Mart. The other five per cent I got at Canadian Tire. I did go into Target, but I couldn’t find what I needed”
Target Corporation's strategic structure plans are continuing staffing the organization and assemble a well-talented management team. Also, continue recruiting and retaining employees with the needed experience. Another option is to acquire, develop and strengthen resources and capabilities in performing critical value chain activities to match changing market conditions and customer expectations. Target Corporation needs to explore multidivisional or matrix organization structure to facilitate strategy execution, delegate authority, and managing external relationships (Thompson, Peteraf, Gamble and Strickland, 2016).
Target Corporation pioneered value chain activities like focusing on customer experience through superior marketing, ability to attract global talent, sustain in and outbound supply logistics, develop supplies with a high-quality vendor and partners, a great customer service, extend return by 30 more days if purchased through Target brand store cards, and a skilled workforce supports its generic strategy of "Expect more Pay Less" improves competitive position that its rival cannot match. --
On the Target website, it is stated that their mission is to, ”…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 Corp). It has 1,799 stores in the United States alone and has locations in India. In 2014, they made $72.6 Billion. Similar to Wal-Mart, Target sells household essentials, apparel, groceries, pet supplies. health, beauty items, home furnishing, entertainment, and electronics. Both also have their own branded items to sell at a lower price than the commercial brands, and each corporation also has a
In addition, its simple and easy to remember, when you see it you know what it is. Due to their logo having strong enough brand recognition the symbol stands by itself and can be easily transferred across languages and cultures. Target’s character, the target dog has been seen in many memorable ads and is even a statue in some stores. The likability of the target dog is strong because it is unique to the brand and it is often also seen in ads with kids and doing something cute. Protectability for characters is easier because they are often unique and cannot be directly copied by some other brand. If the dog was just a normal bull terrier it would not stand out and could be copied. Due to the Target logo seen around it’s eye it would be nearly impossible for some other business to use the dog for their