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Target Corp.

Target Corp. Strategic marketing plan. Executive Summary. Focus & Plan SWOT Target Market Marketing Objectives Marketing Plan Promotional Strategy. Focus & Plan.

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Target Corp.

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  1. Target Corp.

    Strategic marketing plan
  2. Executive Summary Focus & Plan SWOT Target Market Marketing Objectives Marketing Plan Promotional Strategy
  3. Focus & Plan “To make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More Pay Less brand promise” Integration into the Canadian Market Establish the same level of brand loyalty that they have in America
  4. SWOT Analysis Strength Great Quality at an affordable price Weakness Similar product and price point as competitors Opportunities Revitalize their packaging Threats Wal-mart is already very well established
  5. 5 Target Market Demographic 93% of customers are women 35 to 49 years old Income level between $20,000 and $29,999 University students 19-25 years old Psychographic Consumers with extrovert Personality Consumers who are looking for a “True Brand Experience” Consumers who are looking for the best quality at the best price Behavioral Target’s commitment to the Canadian Community Engaging a loyalty status with Target Red cards 70% of Canadians are familiar with Target already
  6. 6 Marketing Objectives Target’s objective is to make Target a preferred shopping destination. Target’s mission is to deliver outstanding value and innovative products and services. Target provides an exceptional experience for its customers by providing good quality for discounted price.
  7. Product Strategy “Dayton's married its department store heritage and Geisse's insights to launch Target as the first upscale discounter, featuring an attractive shopping environment, an innovative racetrack layout and a mix that included higher-priced merchandise.” We will: Offer a mix of services not necessarily offered by our competitors Provide products specific to Canadian trends and demands Offer an “eco-friendly” brand
  8. Pricing Strategy Objective Provide the lowest possible price for each product in order to maintain the image of a discount retail store, while still making enough profit to keep our image at the higher-end of the spectrum. Factors New Distributors Increase in real estate costs Increase in labor costs Costs of importing goods Currency conversions
  9. Distribution Strategy Push strategy Old Zeller’s stores
  10. Promotional Strategy Build Awareness Create Interest Stimulate Demand Internet Billboard & Transit Magazines Newspapers & Flyers Television
  11. Personal Promotional Strategy Specialized Sales Staff Press Release Sales Promotion Mailing list
  12. Measuring Our Success Website, Facebook, and Twitter traffic and followers leading up to opening The number of customers on our mailing list and customer polling leading up to launch. As well as first quarter sales
  13. Questions?
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