Target Corporation Corporate Strategy

Target has been a successful retail company coming in 2nd place behind Wal-Mart. Although these successes come in many forms, there are factors that deter Target from ever reaching first place. Target Corporation has run into a few weaknesses in the recent years. These weaknesses that Target are facing can impact their future goals. They include lawsuits that Target is facing with the recent events and not having an international presence.

Target Corporation (NYSE:TGT) is the leading large-format general merchandise and discount retailer in the U.S., challenging Wal-Mart in electronics, toys and apparel while also seeking to differentiate with higher-end fashions and products for an upscale audience. As of the close of their latest fiscal year (FY2011), Target operated approximately 1,760 stores encompassing 233,000 square feet in 49 states and the District of Columbia. The company is divided into the retail and credit card divisions and moves the majority of its products through a highly integrated network of 37 different distribution centers, which include four food distribution centers. Target is one of the most well-entrenched large format retailers in the U.S., has the ability to manage their pricing strategies at a level of accuracy and precision that is comparable to Wal-Mart (Henderson, 2001). Unlike Wal-Mart, Target concentrates on a value-based message that concentrates on quality and price differentiation to sustain their gross margins while Wal-Mart concentrates on supply chain efficiency and a continual reduction of supplier and transaction costs (Krishnamurthi, 2001).

Headquartered in Minneapolis Minnesota, Target Corporation is one of the largest chains of retail stores in United States and Canada (Stone, 1995). Founded in 1902, the chain now has more than 360,000 employees worldwide. The company operates nearly 1925 stores out of which 1795 stores are in the US and 130 stores are in Canada (NASDAQ, 2014). The business prides itself in a diverse portfolio of merchandise that their outlets houses, ranging from dry groceries to electronics, furniture, apparel and much more. Its distribution networks make use of third party vendors, direct shipping as well as distribution centers. It also operates a successful e-store target.com which offers customers a virtual one-stop shop for their needs.

Target was founded in 1902 first named Dayton Dry Goods Company by founder George D. Dayton (Target, 2015). After a lot of expansion and growth, Dayton Dry Goods was renamed to Target in 1961 after a mass marketing move to cater to value-oriented shoppers that wanted high quality items. In 1962, the Target bullseye symbol was adopted (Target, 2015). Over the years Target began to expand and grow throughout the entire United States. In 1983, Target was recognized for their community involvement (Target, 2015). Target has grown with technology as being the first mass merchandiser in 1983 to implement UPC scanning in their stores and distributors. In support of education, Target

Target Corporation did not started out as Target but Dayton Department Store. The founder of Dayton Department store is George D. Dayton. Mr. Dayton, was banker and realtor from New York. In 1902 Mr. Dayton decided to move to Minneapolis and open up his department stores. In 1960 the Dayton family had a new vision and decided change from a department store to a “discount retailing.” In 1962, President/CEO Doug Dayton, open the first four Targets in Roseville, Saint Louis Park, Crystal and Duluth, Minneapolis (corporate.target 2014)

The first Target store was opened in Roseville, Minnesota in 1962. The company began its’ path towards development in 1902 by George Draper Dayton. Dayton was a partner in Goodfellow’s Dry goods Company in Minneapolis, Minnesota. He quickly bought out his partners and became the founder of Dayton Dry Goods Company. In 1968, Dayton acquired the JL Hudson department store thereby changing his founding name to Dayton Hudson Corporation.

Target Corporation’s mission statement is to make their company the most sought after shopping destination by delivering a great guest experience with the most innovated technologies and quality merchandise. Target is the second largest general merchandise retailer in America. Target was founded by George Draper Dayton, in 1902, with the name Goodfellow Dry Goods. In 1903, Mr. Dayton changed the name to The Dayton Compay. Furthermore, the first Target store opened in 1962 in the Minneapolis, Minnesota which became the main headquarters. It grew to be the largest division of the Dayton-Hudson Corporation and was subsequently renamed the Target Corporation in 2000. Target anticipates staying ahead by challenging the company to be the most efficient and intellectual upscale company in the retail industry (Target Corporation, 2016).

Target Corporation is a retail chain specializing in household goods, clothing, food, and accessories at discounted prices. The retail chain’s history started back in 1902 as Goodfellows and in 1910 as The Dayton Company. Initially, the chain specialized in “furnishings, fabrics and decorations for business and other public institutions” (“Target Corporation,” 2016, p. 5). Eventually, Target went public in 1967 and on to acquire Mervyn’s in the 1970s where they became the seventh largest retailer in the United States. Target operates in the United States, where it is headquartered in Minneapolis, Minnesota and as of January 31, 2015 Target employs over 300,000 people. “The company recorded revenues of $72,618 million in the financial year ended January 2015, the operating profit of the company was $4,535 million, [and] the net profit was $2,449 million” (“Target

Target Corporate, identifiable with its trademark “bullseye”, was once under a different name and served a different customer base. George Draper Dayton was a wealthy banker from downtown Minneapolis, who generously donated to his local church by buying land and leasing it out to tenants. One of these tenants was Goodfellows Department Store, of which George Dayton eventually gained full ownership, and renamed it the Dayton Dry Goods Company in 1903. It was later renamed the Dayton Company in 1911, to better reflect its status in the retail world. The Dayton

Founded by George Dayton, Target Corporation is now the second to the largest discount store retailer in the United States of America. The headquarter of this company is located at Minneapolis, Minnesota. In the year 1902, this company was first named as Goodfellow Dry Goods. Then, in the year 1903, the company’s name changed into Dayton’s Dry Goods Company. Later, in the year 1910, it was renamed as Dayton Company. In the year 1962, the first Target Store was opened at Roseville, Minnesota. Later in the year 1967, the company was renamed as the Dayton Corporation. In the year 1969, when this corporation merged with J.L. Hudson Company, it was renamed as Dayton-Hudson Corporation. After the merging, this corporation took possession of different

Target Corporation is an upscale discounter providing high quality, on-trend merchandise at attractive prices in a clean, spacious and guest friendly store. Target Corporation also operates their online business at Target.com . According to the company' history report Target began as Marshall Field & Co in 1881 then in 1902 George Dayton opened a Goodfellows in downtown Minneapolis. One year later they founded their first Dry Goods Store and in 1911 they became known as the Dayton Company. In 1962 they opened their first Target store selling discounted merchandise. In 1967, the Dayton Company had their first public offering of common stock, and then in 1969 they merged with J.L Hudson Company to become the

Target Corporation has recognized itself as one of the top retailers in the United States market on the basis of excellent service quality, customer experiences, operational excellence, strong financial position, and a wide array of product offerings. Through its high degree of service orientation at physical outlets and adoption of fair business practices, Target Corporation has become the most distinctive retailer in the eyes of its potential customers. Being one of the top-notch retailers in the United States, Target Corporation has to carefully strategize on its business operations and marketing tactics so as to keep itself in the row of competitive brands of the industry.

In the year1962 the Target Organization was established by George Dayton who categories the organization as a concession retailer within the townships of Roseville, Minnesota. A decade later after the organization established it footing within the industry, the small subsidiary developed into the biggest division within The Dayton Corporation. The company advanced from a single discount store to earning its successes over the years from conventional leased superstore practices and discount vending, in addition to general retailing the

Target Corporation was incorporated in Minnesota in 1902. Target operates large-format general merchandise discount stores in the United States, which include Target and SuperTarget stores.

Target is an upscale discounter that provides high-quality, trendy merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. It all started in 1902, when George Dayton joined in partnership with Goodfellow’s Dry Goods Company, the fourth biggest department store that is located in Minneapolis, MN. Dayton, wanting to be more involved in the company bought out Goodfellow’s to become sole owner and President of Dayton Dry Goods Company (Target Corporation, 2014). Travel on down through the years as Daytons continues to grow, until 1962. That was the year an icon was born, its name is “Target.”