Target is an English term that may mean marketing, retailing, publishing, and corporation. In terms of business, the term target market is common and creates a wide area of academic research. Target market is a ready market that a business enterprise aims at delivering its services and products. Marketing strategy is essential in the identification of a potential target market in order to increase chances of success. On the other hand, Target Corporation is a retail company in United States that carries a wide selection of consumer goods and services. This essay will describe all about Target Corporation including its target markets in America and Canada.
Target Corporation has its headquarters in Minnesota and more than eighty stores in eleven States. Target Corporation is a public property that serves United States and Canada. Products present include men wear, women wear, toys, baby wear, furniture, and electronics. The products and services in Target Corporation are in small scale hence making them affordable to all the classes of people living in America. Target Company has three segments: United States Credit, United States Retail, and Canadian. The credit segment applies to regular customers of Target stores especially the citizens of America. The customers under the U.S. credit segment use credit cards ant Target Visa in obtaining goods from the stores.
Target Corporation is targeting Canadian market with a grocery business. The aggressiveness of the company makes it grow at a fast rate through expansion of stores present in Canada. Target Corporation major competitors are Wal-Mart and Kmart. The interim Chairman, Roxanne S. Austin and interim President; John J. Mulligan are struggling towards obtaining high-profile data that will maintain Target Corporation in the Stock Exchange market. Target Corporation has over three-hundred thousand workers. The Company records a growth rate of 1.4% per year from its total sales. Graff argues that, Target Corporation is a major market that various investors are looking upon as it takes the centre stage of business operations.
The marketing strategy of Target Corporation involves offering discounts to regular customers and to customers that exceed the threshold sales of the season. Sales representatives are present in more that fifteen States who increasingly focus on the new products present in Target Stores. Target Corporation has a unique mode of communication that ensures efficiency and timely response. According to Rowley, in many situations, visitors will have the task of filling-in a coupon that requires suggestions on sectors that require improvement in Target Stores. Dramatically, the Target Corporation management records a sales boom after every six months.