Target Market Analysis

Target Marketing Plan

Marketing Management

Fall 2014

Marketing Plan for Target Corporation

1. Executive Summary

Target Corporation is the second largest discount retailer in the United States. Target operates over 1,900 stores in the US and just recently 127 locations in Canada in 2013. The discount retailer sells hardlines, softlines, as well as groceries in some stores. Many stores also include optical, portrait studio, pharmacy, café, Starbucks, or Jamba Juice. Target’s commitment to providing a one-stop shopping experience lends the opportunity to introduce a retail clinic to the Northwest Indiana region.

Market research indicates the growing need for convenient health care services in Northwest Indiana. The recent passing of the Affordable Care Act has created the need for alternative health care services in the region. The market strategy will be based on an approach to reach this market by utilizing resources to create awareness of this service, encourage existing customers as well as new customers to attach themselves to the brand, and remain an asset to the community in which this Target serves.

2. Situation Analysis

Target Corporation is primarily based out of the United States and is one of the largest retailers. Target sells a variety of products from apparel and accessories to household essentials. As of February 2013 it employed about 361,000 people. Their target markets are in the urban and suburban areas.

2.1. Company overview

Target was founded in Minnesota in in 1902 and was originally named Goodfellows. It was later changed to the Dayton Hudson Company before becoming Target. In 1970 they acquired the company Mervyn’s. In 1990 they opened their first Greatland Superstore. The Greatland Superstore consisted of photo services, better checkout lanes, and a larger pharmacy. Target’s core competencies are product differentiation, good reputation in the United States, and price positioning that aligns...