subject ; marketing
Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Good fellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's.
Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
As of 2017, Target operates 1,834 stores throughout the United States. Their retail formats include the discount store Target, the hypermarket Super Target, and "flexible format" stores previously named City Target and Target Express before being consolidated under the Target branding. Target is often recognized for its emphasis on "the needs of its younger, image-conscious shoppers," whereas its rival Walmart more heavily relies on its strategy of "always low prices.
Target Corporation decide to start its discount store in Saudi Arabia. The Target management hired you as Marketing Manager for its Saudi Arabia operation. You have to establish marketing department starting from the Analysis of market, formulate overall marketing goals, objectives, strategies and tactics within the context of an organization's business, mission, and goals designing and planning the entire function.
1. Develop a marketing Plan for Target Corporation, Saudi Arabia. Define the SWOT analysis for Target Corporation, Saudi Arabia.
2. Analyze the Micro and Macro environment of the Target Corporation, Saudi Arabia.
(( with refrences pleasssss ))
Develop a marketing Plan for Target Corporation, Saudi Arabia. Define the SWOT analysis for Target Corporation, Saudi Arabia.
Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Good fellow Dry Goods in June 1902 before being renamed the Dayton’s Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton’s, Hudson’s, Marshall Field’s, and Mervyn’s.
Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
As of 2017, Target operates 1,834 stores throughout the United States. Their retail formats include the discount store Target, the hypermarket Super Target, and “flexible format” stores previously named City Target and Target Express before being consolidated under the Target branding. Target is often recognized for its emphasis on “the needs of its younger, image-conscious shoppers,” whereas its rival Walmart more heavily relies on its strategy of “always low prices.
Target Industry Analysis The purpose of the target industry analysis is to review, verify and recommend industry target sectors for company relocation and expansion. This target industry analysis is intended to provide Chester County with a framework to focus its resources on those areas that will hold the most return on time and marketing dollars invested in expansion and attraction efforts. It does not mean that Chester County will not actively pursue companies outside of these sectors. The key to recommending industry targets is to match feasibility (strengths and assets) with desirability. The team’s recommendations are based on a tour of the community, community interviews, SWOT Analysis, and the team’s collective experience. All of these elements were used to determine the feasibility of industry targets for Chester County. Equally important to the process is determining what is desired by the community. Some of what we heard through our interviews with business leaders and community stakeholders was the desire for more manufacturing-related companies, specifically plastics-related and automotive-related. Based on our observations and experience, we recommend the following five industry targets:
• Automotive Manufacturing
• Fabricated Metals Products and Machinery Manufacturing
• Plastics and Rubber Manufacturing
• Pharmaceuticals and Medical Device Manufacturing
• Value-Added Food Products Manufacturing
Methodology The project began with community interviews and a community tour in January 2008. The team met with key community stakeholders and business leaders through focus groups and one-on-one interviews-in person. The purpose of these meetings and interviews was to determine the companies, industries and economic development objectives desired by the community. The tour helped the team understand firsthand the assets and challenges of the area. This step also included an inventory of available buildings and sites in the county. These elements were necessary to compile the SWOT Analysis delivered elsewhere. The next step in the process was to look at the economic base of Chester County and as compared to South Carolina and the U.S. We analyzed the employment base and employment trends for Chester County and compared it to South Carolina and the U.S. The information and knowledge from Chester County was then combined with the research on active and growing industries to determine the target industries that represented the greatest opportunities for the areas. Our recommendations for target industries will be the industries that are most feasible and desirable based upon our analysis, research and input from the team. Industry Overviews are included later in this report for each recommended target industry, including a brief industry description, an industry definition, current industry trends, and any specific emerging segments of emphasis within the industry.
When recommending industries, it also important to consider future growth potential and risk of decline. Manufacturing, in general, should be of concern for all of the United States. Some manufacturing industries such as defense-related, food, medical equipment, and pharmaceuticals will need to stay within the borders. However the more a product becomes a commodity status, the more likely it will have to be made in the lowest cost location. These are the manufacturing industries that are in jeopardy. Industries that are projected to grow include:
• Computer Systems Design and Software
• Healthcare Services
• Amusement and Recreation
• Educational Services
• Internet and Information Services
Chester County should be aware of the industries that are contracting or projected to contract in the future. These industries will be feeling cost and delivery pressures as they compete in an increasingly global market. With this information in hand, Chester County can support their local companies in these industries and minimize the losses to the company and community. Also, knowing which industries are projected to decline provides information on those industries that might be less likely to be stable in the long term when evaluating possible new companies to attract to the region. Chester County should take note of the following national industries projected to decline.
• Apparel and Textiles
• Tobacco
• Metal Ore Mining
• Miscellaneous Chemical Products
• Iron and Steel Mills
• Computer and Peripheral Equipment
• Pulp and Paper Mills
• Synthetic Rubber, Resins and Fibers
SWOT analysis of Target Corporation
Target Corporation (NYSE: TGT) is the third largest “big box” discount store operator in the United States after Walmart Stores Inc. and Costco Wholesale. Unlike Walmart and Costco, Target has no significant operations outside the United States.
Target suffered heavy losses from a poorly planned and badly executed expansion into Canada, its first attempt to operate outside the United States. Target reportedly lost $5.4 billion in Canada. The retailer’s reputation was badly damaged when it was forced to shut down 124 stores and pull completely out of the country in April 2015. Target is still suffering significant losses from the Canadian debacle; it reported a net income of -$900 million on July 31, 2011.[1]
Target currently operates 1,799 stores and 38 distribution centers in the United States.[2] It reported a TTM revenue of $72.71 billion on July 31, 2015, unlike Walmart Target has experienced modest revenue growth in recent years. Target’s revenue grew at a rate of 2.77% during the third quarter of 2015, while Walmart’s grew at a rate of .09%.
Target Strengths
Target Weaknesses
Target Opportunities
SWOT analysis of Target Corporation
PESTLEanalysis Contributor Oct 26, 2015
Target Corporation (NYSE: TGT) is the third largest “big box” discount store operator in the United States after Walmart Stores Inc. and Costco Wholesale. Unlike Walmart and Costco, Target has no significant operations outside the United States.
Target suffered heavy losses from a poorly planned and badly executed expansion into Canada, its first attempt to operate outside the United States. Target reportedly lost $5.4 billion in Canada. The retailer’s reputation was badly damaged when it was forced to shut down 124 stores and pull completely out of the country in April 2015. Target is still suffering significant losses from the Canadian debacle; it reported a net income of -$900 million on July 31, 2011.[1]
Target currently operates 1,799 stores and 38 distribution centers in the United States.[2] It reported a TTM revenue of $72.71 billion on July 31, 2015, unlike Walmart Target has experienced modest revenue growth in recent years. Target’s revenue grew at a rate of 2.77% during the third quarter of 2015, while Walmart’s grew at a rate of .09%.
To help you see what the future holds for this retailer, here is a short SWOT analysis of Target corporation:
Target Strengths
Target Weaknesses
Target Opportunities
Threats to Target
Analyze the Micro and Macro environment of the Target Corporation, Saudi Arabia.
Target Corporation PESTEL analysis is a strategic tool to
analyze the macro environment of the organization. PESTEL stands
for - Political, Economic, Social, Technological, Environmental
& Legal factors that impact the macro environment of Target
Corporation.
Changes in the macro-environment factors can have a direct impact
on not only the Target Corporation but also can impact other
players in the Discount, Variety Stores. The macro-environment
factors can impact the Porter Five Forces that shape strategy and
competitive landscape. They can impact individual firm’s
competitive advantage or overall profitability levels of the
Services industry.
PESTEL analysis provides great detail about operating challenges
Target Corporation will face in prevalent macro environment other
than competitive forces. For example an Industry may be highly
profitable with a strong growth trajectory but it won't be any good
for Target Corporation if it is situated in unstable political
environment.
Spanish oil giant Repsol had to face a similar instance. It started
an above average profitability operations in Argentina and made
strong returns in 5-7 years. But the business was later
expropriated by the Left Wing government. So the decade long
profits didn’t materialize in the end.
Political Factors that Impact Target Corporation
Political factors play a significant role in determining the factors that can impact Target Corporation's long term profitability in a certain country or market. Target Corporation is operating in Discount, Variety Stores in more than dozen countries and expose itself to different types of political environment and political system risks. The achieve success in such a dynamic Discount, Variety Stores industry across various countries is to diversify the systematic risks of political environment. Target Corporation can closely analyze the following factors before entering or investing in a certain market-
Economic Factors that Impact Target Corporation
The Macro environment factors such as – inflation rate, savings rate, interest rate, foreign exchange rate and economic cycle determine the aggregate demand and aggregate investment in an economy. While micro environment factors such as competition norms impact the competitive advantage of the firm. Target Corporation can use country’s economic factor such as growth rate, inflation & industry’s economic indicators such as Discount, Variety Stores industry growth rate, consumer spending etc to forecast the growth trajectory of not only --sectoryname-- sector but also that of the organization. Economic factors that Target Corporation should consider while conducting PESTEL analysis are -
Social Factors that Impact Target Corporation
Society’s culture and way of doing things impact the culture of an organization in an environment. Shared beliefs and attitudes of the population play a great role in how marketers at Target Corporation will understand the customers of a given market and how they design the marketing message for Discount, Variety Stores industry consumers. Social factors that leadership of Target Corporation should analyze for PESTEL analysis are -
Technological Factors that Impact Target Corporation
Technology is fast disrupting various industries across the
board. Transportation industry is a good case to illustrate this
point. Over the last 5 years the industry has been transforming
really fast, not even giving chance to the established players to
cope with the changes. Taxi industry is now dominated by players
like Uber and Lyft. Car industry is fast moving toward automation
led by technology firm such as Google & manufacturing is
disrupted by Tesla, which has stated an electronic car
revolution.
A firm should not only do technological analysis of the industry
but also the speed at which technology disrupts that industry. Slow
speed will give more time while fast speed of technological
disruption may give a firm little time to cope and be profitable.
Technology analysis involves understanding the following impacts
-
Environmental Factors that Impact Target Corporation
Different markets have different norms or environmental
standards which can impact the profitability of an organization in
those markets. Even within a country often states can have
different environmental laws and liability laws. For example in
United States – Texas and Florida have different liability clauses
in case of mishaps or environmental disaster. Similarly a lot of
European countries give healthy tax breaks to companies that
operate in the renewable sector.
Before entering new markets or starting a new business in existing
market the firm should carefully evaluate the environmental
standards that are required to operate in those markets. Some of
the environmental factors that a firm should consider beforehand
are -
Legal Factors that Impact Target Corporation
In number of countries, the legal framework and institutions are not robust enough to protect the intellectual property rights of an organization. A firm should carefully evaluate before entering such markets as it can lead to theft of organization’s secret sauce thus the overall competitive edge. Some of the legal factors that Target Corporation leadership should consider while entering a new market are -
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