Being a Target lover, it is my go to place for everything and because of this, I do not support Target’s new strategy. Within the article, Target explained how they were going to “gear” their products towards college students. Target stated their plan to eliminate the baby section (i.e. clothes, toys), however that alone upsets me. For starters, I have a young niece and nephew and I go there for the holidays and birthdays to purchase their presents. If the Target near me didn’t have similar products as a traditional target, they would lose my business in this particular category, which as a side note is a lot. The second part of this article that upset me was in regards to what the new Targets would stock near college campuses, “miniature ironing …show more content…
For starters, in the article Target stated how they wanted to make the smaller stores geared towards the target audience within the cities. In regards to the project, we need to make sure the energy patch is geared towards our audience by correlating the patch with spring break, finals week or other events that college students partake in. If we market the patch for a specific college event, college students will find a need for it. Also, Target’s store placement made me realize that the energy patch needs to be sold in stores as well as online. Our group has emphasized the need for it to be online, however during finals week, many student go to the store and look for something to boost their energy. Although, the energy patch will not instantly boost their energy, they will however be able to look at it and purchase it for the remaining of finals week. Another key takeaway was Target’s product placement with the ping pong balls by the beer. This product placement stuck out and made me think about how our team could place the energy patch in stores by junk food, fruit or caffeinated products, to provide our audience with a healthier alternative for their energy needs. I feel if we could incorporate these three tactics within our marketing plan, our energy patch will succeed amongst the college
According to Kantar Retail, most of Target’s shoppers are younger on average than its rivals, and more educated. That means it has to consistently offer something different and appealing; it emphasizes more on the latest-trend apparel, eye-catching home décor and exclusive designer merchandise than its competitors. This results in a willingness to pay a bit more for items by customers who are willing to pay a bit more. Moreover, this successful
In order for Target to have been successful, first and foremost, the retailer should have known that they would not be able to beat their competitor, Walmart, in a price war. That alone, is a losing battle. So, a higher quality of products, fewer locations, and a better understanding of Canadian tastes could have propelled the retailer into establishing, for the long term, a profitable global presence with our Canadian neighbors.
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.
Another advantage about Target is that is has a very broad inventory. In effect, customers can find literally everything they need in this store: clothing and apparel for men, women and kids; toys and other accessories for kids an...
On Tuesday, March 5th, 2013, Target was set to open its first Canadian stores, located in Guelph, Fergus, and Milton, Ontario. Excitement buzzed over the large retailers arrival, and many were anxiously awaiting their grand openings. U.S. brands such as Sonia Kashuk Cosmetics, Nate Berkus’ decor line, and Peter Pilotto’s affordable line of bathing suits, were featured in Target’s inventory. The Ontario expansion was set to continue throughout March and April, and than later move its way into the west. Executives hoped to open 125-135 stores in 2013, and continue to add more in the upcoming year. In need of location space, Target Corp. bought out Zellers sites for $1.82 billion, resulting in 220 of their stores set to replace old Zellers venues. “Zellers has been trying to get its house in order,” said Ken Wong, professor at Queen’s University School of Business. “They just had a number of large disadvantages. When competing with Walmart and Costco on the one side and Shoppers Drug Mart on the other it seems like everyone is taking a little piece from every side.” With Zellers making the financial decision to admit defeat, this left many in need of jobs. Sharon Singleton from the Toronto Sun writes: “The expansion will create thousands of jobs in Canada, i...
Target is one of the America’s top retailers, but still has a few things that can be improved upon before it can overtake its top competitor. Although Target may not be the top ranked retailer at the moment, it’s not hard to see why this company has stood the tests of time and continues to thrive today.
The LEGO Group organization is famous due to its flagship product – colourful plastic bricks that can be interlocked to form a variety of figures, and then disconnected again. These binding bricks originated in a wooden form when the company was first established in Billund, Denmark by Kirk Kristiansen in 1932 (The LEGO Group, 2012), and today’s well known plastic version was introduced in 1958 (Rosenberg). The company’s head office is located in Billund to this day, and The LEGO Group remains privately owned by Kristiansen’s family (The LEGO Group, 2012). They currently sell toys and teaching materials in over 130 countries worldwide.
Ethics is a topic that is highly considered and viewed as a vital part of every decision making process for all companies, organizations and individuals. Ethics can be defined as a system of moral principles and a branch of philosophy which defines what is good for individuals and society (Ethics Guide, N.D.). If a company were to decide to show support for a controversial topic such as gay rights or not show support for women employment then they would increase their chance for public boycotting and rage towards their decisions not including how individual employees would feel. Furthermore, if a retail chain hired a vast higher percentage of one ethnicity then society could view this as a racism and further damage the
Target’s Mission Statement is to make Target the preferred shopping destination for guests by delivering outstanding value, continuous innovation and an exceptional guest experience, and consistently fulfilling our Expect more. Pay Less. Target positioned
As I did a oral presentation I used few pictures and such to show the
Target business is based on big box centers and supercenters, which are not preferred by many shopper who normally like shopping in small convenience store within the neighborhood.
The main one is the established and loved brand name that is well liked by customers. Along with this, Target has the perception of being a fun place to shop that comes with an experience. Unlike Wal-Mart, Target has the ability to position themselves as a middle class, hip and more fashionable store to shoppers of this generation (Target Corporation SWOT Analysis, n.d.). Target’s weaknesses include tis business model based on supercenters and other big box stores which make it more difficult for them to reach shoppers who appreciate the smaller convenient stores. Along with this, they have been unable to change their business model to adapting times (Target Corporation SWOT Analysis, n.d.).
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”
One of Target’s goals is to provide more organic foods. Target is aware of how society is shifting their interest towards organic foods and health. Another one of Target’s goals is to reduce water waste by 10 percent in 2015, whih was met in 2014 by 13.1% (Target Corporate). The company is aware of the possible damage that water waste can cause to the environment and is actively working to prevent them. So far, Target has not had much attention surrounding their social responsibility, but there was one incident in December of 2013 where data of at least 70 million customers were leaked (Target Corporate). This breach allowed criminals to access credit card and debit card information. There is an entire FAQ page on the corporate website answering any questions or concerns that customers may have. Target has recently agreed to a $10 Million settlement in the lawsuit that came after the data breach, in which people will have to provide proper documentation showing their losses during the hack (Parks). Despite this compensation, some customers may not be comfortable shopping at Target
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.