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Marketing Plan TARGET
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Table of Contents
EXECUTIVE SUMMARY ............................................................................................................ 1
COMPANY DESCRIPTION ....................................................................................................... 3
Financial Resource .................................................................................................................... 3
Human Resources .................................................................................................................... 4
Product Portfolio ...................................................................................................................... 6
STRATEGIC FOCUS AND PLAN ............................................................................................. 7
Mission ....................................................................................................................................... 7
Goals ........................................................................................................................................... 7
Core competency and sustainable Competitive Advantage .............................................. 8
SITUATION ANALYSIS ............................................................................................................. 9
SWOT table (Strengths, Weakness, Opportunities, and Threats) ..................................... 9
SWOT Description .................................................................................................................. 10
Industry Analysis: Trends in the Retail Industry .............................................................. 12
Competitor SWOT Analysis: Walmart Stores Inc. ............................................................. 13
Competitor SWOT Analysis: Sears Holding Corporation................................................ 17
Customer Analysis ................................................................................................................. 21
Customer Characteristics at the industry level .............................................................. 21
Define the segment(s) ......................................................................................................... 21
Industry trends .................................................................................................................... 22
MARKETING & PRODUCT OBJECTIVES ............................................................................ 23
Current Markets ..................................................................................................................... 24
New Markets ........................................................................................................................... 24
New Product ........................................................................................................................... 25
Target Market .......................................................................................................................... 25
Points of Difference ................................................................................................................ 26
Positioning ............................................................................................................................... 26
MARKETING PROGRAM ........................................................................................................ 28
Product Strategy ..................................................................................................................... 28
Product Line. ....................................................................................................................... 28
Unique Product Quality. ................................................................................................... 30
Pricing Strategy ....................................................................................................................... 31
Promotion Strategy ................................................................................................................ 33
12 Month Same as Cash. .................................................................................................... 34
Lease to Own Program. ..................................................................................................... 34
Next Day Delivery. ............................................................................................................. 35
Place (Distribution) Strategy ................................................................................................. 35
FINANCIAL DATA AND PROJECTIONS ............................................................................ 36
Past Sales Revenue ................................................................................................................. 36
Five-Year Sales Projections.................................................................................................... 36
ORGANIZATION ...................................................................................................................... 38
IMPLEMENTATION PLAN .................................................................................................... 38
EVALUATION ........................................................................................................................... 39
CONCLUSION ........................................................................................................................... 40
Appendix ..................................................................................................................................... 43
Works Cited ................................................................................................................................ 48
EXECUTIVE SUMMARY
Target Corporation was founded in 1902 and is the second largest retailer in the
United States following Walmart. The company is a multibillion dollar company
meeting customer’s demand in an array of products from retail merchandise of women
and men’s clothing, apparel, accessories, automotive, gardening equipment and
supplies. Target is a major employer in the United States and Canada with
approximately 366,000 employees in corporate, store, and warehouse in various
positions. Their estimated 1,793 stores make Target a well position company both
nationally and worldwide to fulfill their mission “Expect More. Pay Less”.
Target’s SWOT analysis identifies strengths in their merchandise mix, appealing
store layouts, and superior guest services. An area of improvement is their consumer
data security as recent events exposed thousands of consumer data to be breached.
Some areas of opportunities for the 21st century is expansion of e-commerce and
innovation new ways better service and meet guest needs. Reducing the size and
number of stores and shifting the capital to new markets. New talents have been
recruited to grow and position Target in front of the next generation of e-commerce.
Target’s customer segmentation is broken into three sections: the characteristics
of its consumers, the market segments, and the industry trends. Target’s demographic
customer is composed different backgrounds from Hispanics, White Americans,
African Americans, and Asians.
Target’s marketing intent is to take full advantage of its brand potential and
introduce a line of appliances under a private label “ Bull’s-eye” to our guest. Initial
rolled out will take place in four states featuring three brands Samsung Electronics Co,
LG, and “ Bull’s-eye”. Each brand will offer a suite of home appliances which consist
of five major components: refrigerator, range, dish washer, washer and dryer.
The pricing strategy will use odd-even pricing to generate demand for our
appliances. We will implement the push strategy to aggressively introduce the new
product line to our guest. The use of mix media will consist of media advertising,
customer relationship management, and sales promotions. Key sales promotion
programs will feature 12 Month Same as Cash, Lease to Own Program, and Next Day
Delivery all of which will add value to our guest.
Our five year sales projections estimates a volume of $77 million with 107
thousand in combine units sold. We project an increase rate ranging between five to
fifteen percent year over year for the first five years. An estimated sales goal of $160
million with a total of 500 thousand units sold by year five.
A new merchandising team is expected to be established under the current EVP
of Merchandising, Essentials & Hard-lines, Jose Barra. This merchandising team will be
responsible for the forecasting, buying, implementation, merchandising, and training of
this new product line. Implementation will begin with 500 stores in four states and will
expand to other states with top performing stores and similar guest characteristics for
the following years.
We will continue to monitor the same stores sales growth for large appliances
year-over-year to determine what changes can be made to increase our foothold in the
market. We will continue expand our offering of large appliances to other stores
steadily as same stores sales increase to ensure success on focus on small areas of
concern initially as we expand.
Overall, Target has the opportunity to expand in a new product line which will
add revenue by delivering outstanding value, continuous innovation and exceptional
guest experiences by consistently fulfilling our Expect More. Pay Less brand promise.
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COMPANY DESCRIPTION
Target Corporation was incorporated in Minnesota in 1902 originally known as
Dayton Dry Goods Company. They offer essentials and fashionable consumer products,
household goods, food assortment such as perishables, dry groceries, dairy and frozen
items at a discount price. Target refers to their customers as “guests”. Target leverages
their strong supply chain and technology infrastructure, their culture of innovation
embraced throughout the organization, and their discipline in managing their business
strategically while investing in their future growth.
Target Corporation operated in two segments: United States with a store count of
1,793 and Canada with its first year of operations in 2013 with a store count of 124. The
U.S. segments is comprised of four types of store layouts: General Merchandise (16%),
Product Fresh (69%), Super Store (14%), and City Target (0.4%)1. Target is currently the
second largest general retailer in America.
Financial Resource
Target’s performance in 2013 resulted with a decrease of -1.0% in total revenues
however, it had a Five-year Compound Annual Growth Rate (CAGR) of an increase
2.3%. Net earnings for the same year resulted with a -34.3% with a Five-year CAGR of -
2.3%. A negative factor resulted in a comparison in performance between 2012 which
consisted of a 53-week fiscal year versus 52-week year in 2013 as shown on Figure 1.
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Figure 1 Target 2013 Annual Report
In addition, Target experienced a data breach during the fourth quarter of 2013
in which hackers obtained sensitive payment card and other guest information. (Target
2013 Annual Report , 2). A total of $61M of pretax expensed were recorded related to
the data breach which impacted approximately 40 million credit card and debit card
accounts of our guest who shopped at our stores between November 27 and December
17, 2013. Additional expenses are expected as the investigation, legal and professional
services with the data breach continues in future periods (Target 2013 Annual Report ,
18).
Human Resources
As of 2014, Target employs 366,000 team members worldwide (Corporate Fact
Sheet). The Unites States make up over 300,000 team members who support the
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corporate offices and 1,793 stores, Canada has over 700 team members with its 124 store
operations, and India facilities make up over 2,500 team members with focus on
Information Technology roles. They are comprised of various positions located in a
corporate, store, or warehouse facilities.
Corporate level positions are made up of various levels of management, human
resource, finance and accounting, legal and risk management, marketing,
merchandising, real estate & property management, supply & distribution support, and
technology services. Senior management reside here and the majority of the strategic
plans and major decisions are made in these facilities. Each division is grouped in its
own hierarchy of senior managers and their direct reports based on job functions.
Store level positions range in multiple levels of management roles, merchandise
& visual display, account roles, human resources, loss prevention, cashier & operations,
and maintenance positions. Each member of this team has a direct impact on the store
execution of operations or guest services such as front register interaction or visual
display and stock position of merchandise.
Warehouse facilities consist transportation drivers, mechanics, warehouse
associates, and stockroom staff responsible to unload/load and sorting of the
merchandise based on destination. Each member is focused on delivery of product to
the proper destination in a timely manner to service the guest indirectly.
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Target recruits team members with a diverse background, skill level and
educational degrees. They range from entry level positions, pharmacist, veterans, and
college graduates. Target invest in the growth and development of all team members
and is committed to build the best team suited for the community they serve. (Careers)
Product Portfolio
Target carries a variety of goods which are broken up into five major areas:
Household Essentials, Food & Pet Supplies, Apparel & Accessories, Hard-lines, and
Home Furnishings & Decor. In figure 2, it demonstrates a breakdown by these
categories for the U. S. market for 2013. Household essentials contributes 25% of the
total annual sales in the U. S. market followed by Food and Pet Supplies with 21%.
Figure 2- Sales by product category2
Household essentials consist of Beauty Products, Personal Care, Pharmacy
Products, Baby Care, and Cleaning and Paper Products. Some of the well-known
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brands in this category include COVERGIRL, L’Oréal, Neutrogena, Clorox, Bounty,
Tide, Milkbone, Purina One, and others as the list is too loan to mentions all brands3.
This is a clear indication Target’s guest are shopping for daily essentials and not the
exclusively to the fashions in apparel and accessories.
STRATEGIC FOCUS AND PLAN
Mission
Target’s mission is to become your preferred shopping destination in all channels
by delivering outstanding value, continuous innovation and exceptional guest
experiences by consistently fulfilling our Expect More. Pay Less brand promise. ®
(Mission & Values)
Goals
For the coming three years Target seeks to achieve the following goals:
Nonfinancial goals (Goals & Reporting)
1. To increase sustainable seafood selection to 100% by 2015,
2. To increase organic food offerings by 25 percent by 2017,
3. To enhance at least 50 owned-brand packages designs to more sustainable
by 2016,
4. To improve transportation efficiencies 15% by 2015,
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5. To increase ENERGY STAR certifications buildings for at least 75% by
2015,
6. To reduce water usage by 10% per square foot by 2015,
Financial goals (Target Corporation Financial Community Meeting -
Preliminary)
1. To generate $7.20 of EPS in the US by 2017,
2. To increase US sales 5% annually,
3. To achieve an annual dividend of $3 or more by 2017,
4. To achieve $6 billion in annual sales in Canada by 2017,
5. To earn $0.80 in earnings per share in Canada by 2017,
6. To open 150 stores in Canada by 2017
Core competency and sustainable Competitive Advantage
In terms of core competency, Target Corporation seeks to achieve a unique
ability to (1) deliver lowest prices on very broad assortments with a focus on value by
providing a more upscale, differentiated assortment in discretionary categories and a
curated assortment of branded hard goods (2) combined with the superior in-store
experience and great prices and (3) the growth in development multichannel digital
world to better handle their guest’s shopping habits through Target.com, mobile
business, and in store terminal leveraging their new innovation center in San Francisco
and the technology talent in that area. (Target Corporation Financial Community
Meeting - Preliminary)
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To translate Target’s core competencies into a sustainable competitive advantage,
Target Corporation will establish partnerships with key name brands such as The Walt
Disney Company, Levis Strauss, Converse, Ben & Jerry’s, and iTunes just to name a
few. In addition, increase their private label sales such as Archer Farms, Market Pantry,
Merona, Play Wonder, Xhilaration, and Room Essentials of which 10 brands generated
more than $1 billion in annual sales independently (Target Corporation Financial
Community Meeting - Preliminary).
SITUATION ANALYSIS
SWOT table (Strengths, Weakness, Opportunities, and Threats)
Internal Factors Strengths Weaknesses
Management New CEO has executive leadership experience
Target CEO resigned in May and left a void in leadership
Offerings Good mix of products and many discounts & rewards for loyal customers
Undiscounted prices are high for irregular customers
Marketing Differentiate with appealing stores and fashionable low priced merchandise
Disappointing sales in new stores in Canada
Personnel Good benefits which boost motivation
Elimination of health benefits for part- time workers lowers morale
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Finance Target has continued to make a positive net income
Target data breach hurt sales for first half of year
External Factors Opportunities Threats
Consumer/Social Physical stores allow consumers to get needed merchandise right away
Low prices and next-day delivery offered online
Competitive E-commerce allows big-box stores opportunity to downsize buildings
Online retail only businesses have less overhead costs
Technological Internet increasing access for consumers to shop online
Online shopping allows consumers to compare prices
Economic Increase in U.S. consumer spending
Consumers not shopping in stores as much
Table 1 SWOT for Target Corp.
SWOT Description
Strengths
Target is a large upscale discount retailer that offers both owned-brand and
exclusive brand merchandise. Target seeks to differentiate itself from other retailers by
providing everyday items along with fashionable merchandise at easy-to-navigate
stores for a great guest experience. Target offers good benefits such as health insurance,
401k plans, vacation days, and tuition reimbursement which keeps employees
motivated (Target 2013 Annual Report). Target offers price matching and discounts
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such as the REDcard which allows guests to link their debit card to a Target REDcard
and get 5% off all purchases and free shipping from online purchases and price
matching to ensure Target lives up to its “Expect More. Pay Less” brand promise
(Mission & Values). Target recently appointed Brian Cornell as Chairman and CEO
which brings a sense of innovation as this would be the first time Target has appointed
a CEO outside of the company. It brings a sense of stability and allows interim CEO
John Mulligan to return to his position as CFO (Zionbro and Lublin). Target has
remained in positive territory for 2013 and thus far in 2014 (Target 2013 Annual Report).
Weaknesses
Target had a troubling slow start in 2014 due to the data breach that lowered
consumer confidence in the retailer. Target CEO Gregg Steinhafel resigned in May 2014
after mounting pressure from top executives. Target stores in Canada performed poorly
and the data breach added negativity to the retailer which eventually led to his
resignation (Zionbro and Lublin). Target followed suit with other retailers in
eliminating its health benefits for part-time workers. If not managed properly it can
lower employee morale (Berman-Gorvine). Target’s differentiation strategy relies
heavily on consumer trust and loyalty. Target’s image was damaged by the data breach
and poor sales in the first half of 2014 reflected this (McGrath).
Opportunities
E-commerce has shifted the way consumers are shopping in the 21st century and
Target can use this to its advantage. Target can begin to downsize its large buildings to
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decrease cost. Online retailers such as Amazon offer low prices due to not having
physical stores and only selling products online. Stores are still needed because online
sales only make up a small percentage of overall retail sales. Target can compete by
lowering overhead cost of the buildings and increase sales online (Welch, Burritt and
Coleman-Lochner). As the U.S. economy continues to rebound and add more jobs, this
will add to consumer spending (Sharf).
Threats
Retail giants have become too big and left themselves exposed to decrease in
shoppers at physical stores. The retail environment is shifting as many consumers
prefer shopping online and comparing prices with different stores to find the best deal.
Amazon took advantage of this gap and started an online retail business with no
physical stores. It has taken market share from big-box stores due to its low overhead
cost allowing it to offer low prices. The lack of consumers buying merchandise in the
physical stores increases overhead cost to Target. (Reingold and Wahba). Target must
not mismanage the way it downsizes its stores because most retail sales are still done in
physical stores. Online sales are growing so there is a need to take steps to ensure there
are enough physical stores in opportunistic locations along with an increase in e-
commerce tactics to ensure continued growth and stability (Welch, Burritt and
Coleman-Lochner).
Industry Analysis: Trends in the Retail Industry
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Consumer behavior over the last decade has shifted to purchasing merchandise
online. Many online retail stores such as Amazon can offer low prices and compete with
big-box stores like Target and Wal-Mart. Best Buy Co. is closing down 50 of its big
stores. Target is in a better position that Best Buy because they are diversified in the
products they sell whereas Best Buy is heavily focused on Consumer electronics. Target
and Wal-Mart have recently been shifting their business to smaller stores. Physical
buildings aren’t the problem as much as they much shift their business models to match
the consumers of today. Many consumers are price sensitive and some like to make
purchases online. Target and other big-box retailers need to work to increase online
sales revenue and lower cost to compete in today’s retail environment (Welch, Burritt
and Coleman-Lochner). Retailers in the U.S. are having trouble because they have a
large square foot per capita of retail space and the trend towards online shopping do
not help the cause. American stores have a 52.4 square footage per capita whereas other
countries have a lot less, such as Germany who has 16.4. The industry shows an overall
trend towards square footage reduction with many retailers opening smaller stores and
also an increasing competition in the e-commerce market. Online sales currently only
account for 6.4% of overall retail sales in 2014 but they continue to outpace in-store sales
on a year over year basis (Reingold and Wahba).
Competitor SWOT Analysis: Walmart Stores Inc.
Walmart Stores Inc. is by far the biggest retailer in the world with multipurpose
stores in the United States, Canada, Mexico, and to other parts of the world. Their stores
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consist of super centers, supermarkets, and warehouse clubs. It also includes business
in e-commerce such as Walmart.com. The company offers an array of products through
its stores. In the supermarket arena, the company offers meat, diary, bakery, frozen
foods, as well as alcohol and stationary products. Their retail stores are filled with
various products and sectioned into different departments such as electronics, health
products, automotive, footwear, communication equipment, and gardening outdoor
products. The company has an approximate of 11,000 stores under 71 banners in 27 both
domestic and international.
Walmart SWOT Analysis
Internal Factors Strengths Weaknesses
Offerings Being able to compete in
smaller venues like supermarkets
Low profit margins are always a risk
Marketing Resources to improve
ecommerce Needed improvements in ecommerce
Personnel/Management Professional growth
opportunities Lower benefits offer to employees
Finance Increases in revenue Loss in revenue due to
shoplifting
External Factors Opportunities Threats
Consumer/Social Openings of smaller stores
serving smaller communities
Not being a good citizen of the planet with respect to environmental
Competitive Continue growth in the Opening mega stores
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opening of super centers requires big cash out flows Economic Consumer confidence is
increasing Lowering product prices reduces profits
Legal/Regulatory New wages could increase
consumer spending New legislations to increase minimum wages
Table 2 SWOT for Walmart
Walmart strengths and opportunities summary
Strategically located small stores in small communities position the stores as
major competitor with supermarket chains, pharmacies, and local retail stores. A store
manager of a Walmart store located in a small community states, "For us, it's all about
the customers being able to come in and get their immediate needs met". This gives the
company the diversity in being able to compete not only on large venues like
superstores, but smaller business venues as well (Placek).
Walmart continues its expansion of opening new super centers in Canada. The
company continues to gain consumer confidence in the Canadian market by providing
a one stop shop. The goal of the superstores is to be well supplied with grocery items
normally found at the local supermarket chains. The company expects to increase its
market presence by opening more super center stores (WalMart Stores Inc International
Conference for the Investment Community Merchandise Growth Strategies - Final).
The company is able to make profits in spite of various losses. The company was
able to increase net sales by $11.9 billion even with losses of $5 billion from currency
exchange rate fluctuations and $730 million benefit expenses from acquisition cost
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(WalMart Stores Inc International Conference for the Investment Community
Merchandise Growth Strategies - Final).
"Economic perceptions signaled positive momentum as global job prospects,
personal finances, and spending intentions cautiously edged up in Q1 2013", said Dr.
Venkatesh Bala, chief economist at The Cambridge Group. The consumer confidence
has increased in several key economies including United States that increase four points
over the last quarter. The consumer confidence has also extended into part of Europe
and Asia, for example in Germany the growth increase four points while Asian
countries such Hong Kong, Japan, South Korea, experienced double digit growth
(Nielsen: Q1 2013 Consumer Confidence Climbs in Economies Around the World).
Walmart weaknesses and threats summary
The company continues to struggle in the e-commerce business sector. Rivals
such as Amazon.com are continually aggressive in package goods and are capturing
market share in the e-commerce sector. As e-commerce continues its expansion into
urban markets, Walmart will just have to “take another stab” in reaching upscale
consumers and instead build smaller stores. The company has made some new efforts
in hiring e-commerce experts to establish a strategy to catch up with the well-
established competitors such as Amazon.com (Neff).
The public perception has a negative effective on the company revenues. An
internal marketing report by Walmart’s then agency stated, “Bad corporate citizen who
doesn’t treat employees well and isn’t acting as a good citizen of the planet (Kabel). This
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claim is of no surprise since it is not uncommon to see news stories of Walmart being
involved in litigation issues about employment discrimination, and environmental
issues (Meeks).
Competitor SWOT Analysis: Sears Holding Corporation
Sears Holdings Corporation operates retail stores in the United States and
Canada. The company operates under two company names: Sears and Kmart. Kmart
offers merchandise under “Jaclyn Smith, Joe Boxer, and Alphaline labels”. Sears
provide different departmental products such as women and men clothing, electronics,
garden equipment. The company is supplied by well-known brands such as Kenmore,
Craftsman, Diehard, and Lands End just to name a few. Other services include home
improvement services from installations of household equipment to repairs. The
company is composed of approximately 1,980 stores in the United States and 449 stores
in Canada.
Sears Holding SWOT Analysis
Internal Factors Strengths Weaknesses
Offerings New stores designs Stock between Walmart
and Target economic demographic
Marketing Increase revenues with
holiday promotions Stop running promotional adds
Personnel/Management Strong management team Declining personnel in
service department
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Finance Sales of store offset losses Declining profits in
Canadian chain of stores
External Factors Opportunities Threats
Consumer/Social Increases in electronic and
communication equipment IT Staff not proactive, but reactive
Competitive Kmart is a well-known
company name Competing against well establish competitors like Walmart and Target
Economic Projected US economy to
increase through 2014 Conflicts between congressional budget legislation could slow growth
Legal/Regulatory Product recalls regulatory Possibility of class action
law suit due to collection practices on customers who filed bankruptcy
Table 3 SWOT for Sears Holding Corp.
Sears Holding strengths and opportunities summary
The US in the Consumer Electronics category is expected to grow at 2.86%
between 2012 and 2017. The biggest growth will be in the communications equipment
with a potential increases in revenue to approximately 5.98% (Consumer Electronics
Retailing in the United States: Market Snapshot to 2017).
The US treasury department has forecasted increases in the general economy
extending through 2014. The Treasury is predicting a 9% increase from the year 2013.
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This was possible by the congress approval for the budget, therefore, reducing hurdles
in future economy (PROSPECTS 2014 Q2: US Economy).
In an effort to increase sales Kmart stores are undergoing in a new store design to
attract customers. This is the story of famous sisters named Kim, Khloe and Kourtney
Kardashian that brought 29 year old mother who normally shops at Nordstrom Rack to
stop at a Sears store in the mall. “Normally I wouldn’t shop at Sears at all, but a $38.99
black jumpsuit looked promising compared to $68 at other stores”. By combining Sears
brand and reputation in customer service, the company is strong in attracting new
customers (Kmart Offers One-Stop-Shopping Destination for Families).
Sears Holding weaknesses and threats summary
The company is struggling to capture profits in its Canadian stores. They posted
$11-million loss in its most recent second quarter, however the company losses could
have been worse provided that they were able to vacate two Toronto stores, therefore
reducing their losses (Shaw).
The continued struggle in agreements among congressional representatives
could halt the economy. These budgets is an indirect cause an effect to the general
economy since they affect the largest government agencies such as the defense industry
which accounts for a large percentage of government fiscal expenditures. Any
disruption in the flow of funding in these government agencies could slow the economy
growth yet affecting retail sales among other businesses (Gray).
State your “educated” opinion regarding “gaps” in the market: targets, positions
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While both companies Sears Holding and Walmart target their own customer
segmentation whereas is by demographically, geographically, internal customer
relationship management, they both experience a market gaps when it comes to
fulfilling the expectations consumers have in mind when shopping in their locations.
Sears shows signal of market gap in the service repair and sales in appliance which is an
odd area for Sears to not do well. As Sears report net losses in appliances, home repair
stores such as The Home Depot and Lowe’s report double-digit gains (Kapner). This
was also revealed when their projected revenues sales in the service home improvement
fail short with the Canadian home improvement consumer. As for Walmart it also
reveals market gap in the home appliance business and have begun testing in a few
Dallas-Fort Worth stores. The first stores: a Supercenter in Frisco and stores in North
Richland Hills and in Fort Worth (Walmart Testing Home Appliance Sales, First in
Texas). The home appliance segment appears to be underserved as Sears loses its
control of the market with in appliance sales and competitors begin to position
themselves to obtain a higher market share. Consumers’ disposable incomes are
increasing and they are remodeling their homes at a higher rate than in previous years
(Consumer Appliances in the US). As consumer confidence builds, appliance sales will
rise as consumers invest in their homes and the appliances used to improve their
lifestyle.
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Customer Analysis
In terms of customer analysis, the components in this section describes (1) the
characteristics of consumers (2) market segments and (3) industry trends
Customer Characteristics at the industry level
Consumers that shop at Target represent a broad range of demographic,
socioeconomic and behavioral characteristics.
“Demographically, Target mostly consists of women of the median age 42, with 50% of
them having children at home and 48% of shoppers have completed college and earn
approximately $63K per year. The target market tends to be families with lower income
brackets and parents with children. It emphasizes on wholesale and convenience for
long-term home and grocery shopping” (Target Corporation’s Environmental and
Consumer Behavior). Target also has a higher affinity with Millennials and Hispanics
(Target Corporation Financial Community Meeting - Preliminary). The company
understands that the focus is the attitudinal and behavioral union of consumers who
love to shop, consumers who use technology, & consumers who are deal conscious.
Define the segment(s)
The Target market for Target Incorporated could be broken up as follows:
Segment Name Demographic Behavioral
Moms of median age
35- 50 Time pressured & family orientated
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Middle income families
35-65+ Saving & deal conscious
Woman of median age want convenience for they are pressed in time and have
young children who also have a say in the decisions from the household. Middle-
income families with an approximate income of $64K are looking for deals that will best
suit their financial needs. Approximately 43% have children at home and about 57%
have completed college. (Corporate Fact Sheet)
Industry trends
Socially
Target is aware of the social media trends and is committed to proving the
support to their community through this business strategy. The effect of these trends on
the industry level is being able to provide news to a large amount of people at any
specific time. “Target has a massive social audience including Twitter, Facebook,
Instagram, YouTube, Pinterest, Vine, and LinkedIn followers” (Target on Social Media:
How the Retail Giant Markets to a Social Audience of 138 Million | Simply Measured).
They all allow different consumers of different interest to follow to the Target
experience they want. This community involvement has strengthened the brand image
and reputation of the company.
Environmental
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Target is committed to achieving milestones in the business by using resources
responsibly, eliminating waste and minimizing carbon footprint. This effect of this
trend on the industry is to be more environmental savvy because recent years have
proven customers own sense of desire to help the environment. Target is careful about
recycling and disposing of electronic waste as well as merchandise and materials used
in the supply chain. “Our goal is to reduce our operating waste by 15 percent by the end
of the 2015 fiscal year” (Our Carbon Footprint & Resource Conservation | Target
Corporate)
Target is aware how social and environmental trends can be used to make
possible positive impacts. However, these trends also have uncontrollable factors. The
diversity of values in different societal, business and corporate cultures makes it
difficult to agree on what is the correct way to agree for social responsibility and ethical
choices on environmental trends. However, Target will continue to base industry trends
with “sustainable development…” in which they will be “conducting business in a way
that protects the natural environment while making economic progress” (Kerin, Hartley
and Rudelius 74).
MARKETING & PRODUCT OBJECTIVES
Target’s marketing intent is to take full advantage of its brand potential while
building a base from which other revenue sources can be mined both in and out of the
current retail segments. Our current store locations and on line services will serve as the
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platform to expand new test markets and further drive our sales revenue potentials.
These are detailed in four areas below:
Current Markets
Current markets will be grown by introducing our line of large appliances. This
new line will complement our small appliance and electronic departments while
delivering or guest the same values as the rest of our merchandise selection. We will be
true to our motto of “Expect More. Pay Less brand promise. ®”. This new line will help
increase same-store sales over the previous years and continue to increase as our guest
awareness increases of this line of large appliances. In addition, this line will solve the
gap our guests face large appliances are not easily accessible.
New Markets
Within three years, we will have our new line successfully rolled out in 500
stores (25% of total store count). The initial roll out will take place in the higher volume
stores in California, Texas, Florida, and Illinois. These states have the highest
concentration of store and will serve as our initial focus group. This will allow Target to
compete in a new market which is experiencing an increase in sales volume. Target
would be positioned to capture 10% of the total market share of the $18 billion in annual
revenue in the major appliance industry (Household Appliance Manufacturing -
Quarterly Update 8/11/2014). According to Whirlpool, an improving housing industry
and a pent up in demand for appliance replacements has resuscitated the market.
Whirlpool expects to see an increase in unit shipments in the U.S. by 5% to 7% in 2014
(Tita).
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New Product
Target will introduce a complete suite of large appliances which consist of five
major components: refrigerators, range, dish washer, washer, and dryers. The
collections will include Samsung Electronics Co and LG both manufactured in South
Korea and a private label collection “ Bull’s-eye” which is manufactured in the U.S. by
Whirlpool. The “ Bull’s-eye” label will deliver the highest quality utilizing the latest
technology and energy efficiencies at a value price for our guest. It will be backed by
Whirlpool’s manufacture warranty. Delivery of the entire line of appliances will be
available for delivery the next day from purchase.
Target Market
The primary target market for Target’s new line will be new and current
homeowners which are looking to purchase/replace an appliance with high quality,
energy efficient units at affordable prices.
Target’s pricing strategy will be to offer competitive prices on name brands and
exceptional cost savings when purchasing the “ Bull’s-eye” appliances in combination
with the REDcard savings of 5%. When you add it all up, our guest will be offered an
unbeatable price in the market. The initial introduction will be advertised on the front
page of the weekly ad distributed via direct mail and supported on TV and Radio
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broadcast in addition with social media. Our loyal guest will see the exceptional value
and trust our brand as we have proven to produce quality products.
Points of Difference
The “points of difference” – that make “ Bull’s-eye” appliances unique relative
to competitors—fall into three important areas:
Innovation at the lowest price. Our “ Bull’s-eye” appliances will provide the
latest in innovation at the lowest cost as promised to our guests with our
mission, “Expect More. Pay Less”.
World class shopping experience. Our guests are familiar with our exceptional
store experience accompanied by our knowledgeable guest service they can
expect when purchasing their next home appliance.
Next day delivery and installation. Our logistics team has the latest in
technologies to ensure 100% delivery and installation by certified technicians.
Positioning
Target has been known for superb customer service throughout its history as a
preferred shopping destination for fashionable trends, innovative products, and a one
stop destination. Our guests can now feel confident our knowledgeable team members
will be able to service their needs with the home appliance collection. Target’s “ Bull’s-
eye” appliances will offer a tremendous value to our guest at the lowest price due in the
market. It will have all the bells and whistles currently available in top brands and the
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reliability of proven models from Whirlpool. Target will display the “ Bull’s-eye”
collection side by side with Samsung and LG collections for easy comparison of the
features and cost. In addition, our best in class customer experience will provide our
guest with a knowledgeable team member who will assist to determine the best choice
for their needs. Our guests will not have to go to a cold hardware facility which is
limited in knowledgeable staff to shop for their home appliances. Target’s Price Match
Guarantee will further ensure our guests will not be under sold when making a large
purchase in our stores. Our marketing campaign will introduce the “ Bull’s-eye”
appliance collection in the focus area. The goals it to build its customer perception of
low cost and poor reliability to an excellent value and high reliability as customer
become more familiar with our private label and word of mouth spreads as
demonstrated in Figure 3.
Figure 3- Perceptual Map of Target’s private appliance label
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MARKETING PROGRAM
The four marketing mix elements of the Large Appliance Line marketing
program are detailed below. Note the new product line will consist of three brands:
Samsung Electronics Co, LG, and our private label “ Bull’s-eye” which is made by
Whirlpool. This will allow us to provide a Good, Better, and Best and show the added
value when purchasing our “ Bull’s-eye” collection.
Product Strategy
After first summarizing the product line for each brand, the approach to product
quality for our private label “ Bull’s-eye” is covered.
Product Line.
Target’s product line consist of five major components: refrigerators, range, dish
washer, washer, and dryers from three brands:
Samsung Electronics Co
o Refrigerator retailing at $1,699.99 is a larger capacity 24.5 cu. ft. with Side-
by-Side doors available in stainless steel.
o Range retailing at $2,299.99 is a 30” Flex Duo Slide-In Electric Range z/
Convection Oven available in stainless steel.
o Dish Washer retailing at $1,199.99 is a 24” Built-In with Water Wall system
available in stainless steel.
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o Washer retailing at $999.99 is a 4.2 cu. ft. Front-Load Washer w/ Steam
Washing in Stainless Platinum.
o Dryer retailing at $999.99 is a 7.5 cu. ft. Electric Dryer in Stainless
Platinum.
LG
o Refrigerator retailing at $1,299.99 is a larger capacity 26 cu. ft. with Side-
by-Side doors. It will be available in white and black finishes. Stainless
steel available for an additional $200.
o Range retailing at $949.99 is a 6.3 cu. ft. Freestanding Electric Range
available in white and black finishes. Stainless steel available for an
additional $50 and gas option for an additional $150.
o Dish Washer retailing at $649.99 is a 24” Built-In with Flex EasyRack
system available in white & black. Stainless steel available for an
additional $150
o Washer retailing at $899.99 is a 4.3 cu. ft. Ultra Large Capacity Front Load
Washer w/ Steam in White. Graphite Steel available for an additional
$100.
o Dryer retailing at $899.99 is a 7.4 cu. ft. Ultra Large Capacity Steam Dryer.
Graphite Steel available for an additional $100.
Target’s private label “ Bull’s-eye
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o Refrigerator retailing at $1,099.99 is a larger capacity 26 cu. ft. with Side-
by-Side doors. It will be available in white and black finishes. Stainless
steel available for an additional $150.
o Range retailing at $849.99 is a 6.4 cu. ft. Freestanding Electric Range
available in white and black finishes. Stainless steel available for an
additional $50 and gas option for an additional $100.
o Dish Washer retailing at $549.99 is a 24” Built-In with Easy Load Rack
system available in white & black. Stainless steel available for an
additional $150
o Washer retailing at $799.99 is a 4.5 cu. ft. Ultra Large Capacity Front Load
Washer w/ Steam in White. Graphite Grey available for an additional
$100.
o Dryer retailing at $749.99 is a 7.5 cu. ft. Ultra Large Capacity Steam Dryer.
Graphite Steel available for an additional $100
Unique Product Quality.
Target’s private label “ Bull’s-eye” will manufactured with highest quality
materials, latest technology available in the industry, and energy efficiencies as we look
to reduce our energy consumption. Our “ Bull’s-eye” brand is manufactured by
Whirlpool which has 103 years of home appliance experience selling approximately $19
billing annually in more than 130 countries around the world (Corporation). Our
partnership will Whirlpool represents the quality and innovation our guest are looking
for and combined we can leverage our purchasing power and store locations to deliver
this exceptional value. In addition, our “ Bull’s-eye” brand will be manufactured in the
United States which will help contribute to our guest’s local economy.
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Pricing Strategy
Target currently partners with LG, Samsung, and Whirlpool for different
products. We will expand on this partnership with the addition of our large appliances.
We will offer these products slightly below market price to adhere to our “Expect More.
Pay Less” brand promise. The price of the items will be slightly lower than our
competitors but not too much because additional offers such as the Target REDCard 5%
discount and other promotions will add extra incentives and will lower the price even
more. We will also use the odd-even pricing method to generate demand for our
appliances. We must have a price that is competitive but allows Target to maintain a
reasonable profit or at least cover our cost as we establish ourselves in the home
appliance market. Our “ Bull’s-eye” brand will be introduced as the lowest priced item
with a high quality to ensure we can establish a strong partnership with Whirlpool as
they create our high quality private branded appliances.
Kitchen Appliances
LG
Refrigerator Model Retail Price Target’s
Price Range Model
Retail Price
Target’s Price
LSXS26326S $1,499.99 $1,299.99 LRE3083SW $1,049.99 $949.99
Dishwasher Model Retail Price Target’s
Price
DLEX4070W $999.99 $899.99
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Samsung
Refrigerator Model Retail Price Target’s
Price Range Model Retail Price Target’s
Price
RS25H5121BC $1,799.99 $1,699.99 NE58F9710WS $2,399.99 $2,299.99
Dishwasher Model Retail Price Target’s
Price
DW80H9940US $1,299.99 $1,199.99
Bull's Eye (Whirlpool Models)
Refrigerator Model Retail Price Target’s
Price Range Model Retail Price Target’s
Price
WRF560SMYM $1,199.99 $1,099.99 WFG320M0BS $949.99 $849.99
Dishwasher Model Retail Price Target’s
Price
WDF540PADW $649.99 $549.99
Laundry Appliances
LG
Washer Model Retail Price Target’s
Price Dryer Model Retail Price Target’s
Price
WM4070HWA $999.99 $899.99 DLEX4070W $999.99 $899.99
Samsung
Washer Model Retail Price Target’s
Price Dryer Model Retail Price Target’s
Price
WF42H5200AP $1,099.99 $999.99 DV42H5600EP $1,099.99 $999.99
Bull's Eye (Whirlpool Models)
Washer Model Retail Price Target’s
Price Dryer Model Retail Price Target’s
Price
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WTW4800BQ $899.99 $799.99 WED4800BQ $849.99 $749.99
Promotion Strategy
Target will be directing the promotional mix to channel members to establish
cooperation in ordering and stocking the product (Kerin, Hartley and Rudelius 326).
Target will need to focus on a push strategy that will introduce the large appliances line
aggressively because they will be competing with already established brands sold by
other retailers. This strategy will be even more effective with our private level, “
Bull’s-eye”, since consumers will be unfamiliar with this new brand and brand
awareness must be created quickly. Push strategy focuses on value and our focus with
this new private label will be just that, an unbeatable price for a high quality product.
This strategy will include mass media advertising, customer relationship management
(14), and sales promotions (322) (Kerin, Hartley and Rudelius). The promotion mixes
are all integrated to reinforce each other by advertising great product quality,
identifying prospective buyers, service and having great pricing and purchasing
strategies. The strategies will all be consistent and complementary to increase the sale
turnover.
Promotion Strategy
Our push strategy will have Target placing the product in front of the customer.
Therefore, placement and high visibility of this new line will be of importance. Not to
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mention, advertisement to make sure the consumer will be aware of the existence of this
new line and the private label Target will be offering. Additionally, key promotion
programs feature 12 Month Same as Cash, Lease to Own Program, Next Day Delivery.
12 Month Same as Cash.
This element will focus on customers who are in need of the appliance
immediately but can’t financially afford to splurge on a large appliance. This helps
promote towards individuals that interested in having appliances at an interest-free
loan for twelve months. We will offer this for customers who sign up for our store
REDcard credit card. This feature plus savings of 5% when signing up for the Target
card will promote our guest an unbeatable price in the market. Customers will be able
to make minimum payments during the promotional period knowing if they don’t pay
off the balance in full by the end of the promotion period a retroactive interest from the
beginning of purchase will apply.
Lease to Own Program.
This promotional element will target low-income guest. Shoppers who don’t
have enough cash or credit to buy a large appliance will benefit from this feature. Some
guest will not have the option to buy new appliances when their refrigerators,
dishwasher, range, washer and/or dryers break. Therefore, Target will be providing
those options for them. Guest who selects Target’s lease-to-own financing will make the
first lease payment at the store and then will be able to make monthly payments. The
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guest will be able to make payments at the store or for their convenience an automatic
bank withdrawal.
Next Day Delivery.
This will provide premium delivery within one day for our guest that would
want expedited delivery. Also will be additional convenience for guests that do not
have the means of being able to deliver large appliances home. Plus additional benefit
of being able to connect to water line and test the equipment if needed for the appliance.
Power up the unit, level and test it. This will compete with other companies, for
example Sears, which also offers different delivery options and service upon delivery.
Place (Distribution) Strategy
The selective distribution strategy will be the most effective distribution
implementation for larges appliances since this is the most widely use distribution
strategy use by other major competitors like Walmart, The Home Depot, and Sears
Holdings (Journals). The selective distribution strategy takes into account many
logistical factors that have a direct cost effect on the sale of large household appliances.
Some of the major expenses are the cost of warehouse personal as well as storage space,
the cost assigned to store square footage space inside the store, technical support
specialists, shipping and delivery cost from manufacturer and to consumers, and a
service department in charge of home installations (Business And Economics).
The stores located near to new housing construction development will be the
first line of stores chosen to offer sales of large household appliances. Historical sales of
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large home appliances are predominantly from new home purchasers. Other stores will
be evaluated in the type consumers within their geographical location by considering
factors such as population demographics, family size, household income level, and
percentage of homeownerships in a given location. All these factors will be carefully
analyze in order to maximize profits and reduced risk (Journals). Target stores that
meet the above criteria will be the ones equipped to sale large household appliances.
FINANCIAL DATA AND PROJECTIONS
Past Sales Revenue
Target currently does not have sales revenue in large home appliances. This will
contribute to future sales revenue without impacting current product lines. On the
contrary, this new product line will complement the small appliance category.
Five-Year Sales Projections
The US consumer bureau sales for house hold appliances are expected to be
stable for the next five years staring year 20144. The US industry is mainly composed of
300 manufacturers of household appliances generating annual revenues of $18 billion
dollars (Household Appliance Manufacturing - Quarterly Update 11/3/2014).
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Although international manufacturers do have a market share in US home consumers
their percentage of market share in the US is minimal.
The projected unit sales for the next five years5 are derived from information
retrieve about industry percentage sales as explain above. The projection is adjusted
quarterly with a growth rate between five and fifteen percent per year. First year
projections on sales are estimated at $77 million composed of 107 thousand combine
units from refrigerators, washer and dryer, range, and dishwashers6 as shown in Table
4. It is estimated that by the year five sales should be close to $160 million with a total of
500 thousand units sold. The growth will continue until market share maturity, which it
should experience a slightly decrease due to market share adjustments before reaching
stability (Ltd 2014).
Table 4- Target’s Five Year Projected Sales for Home Appliance
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ORGANIZATION
Target Corporation’s present organization appears in Figure 3. It shows the
seven directs under the President and CEO Brain Cornell. Below this level of
management are additional layers of management which consist of Executive Vice
Presidents, Senior Vice Presidents, Vice Presidents, and Managers.
Figure 4 Target’s org chart- target.com/leadership
Under the Chief Merchandising Officer we have Jose Barra EVP Merchandising,
Essentials and Hardlines who oversees small appliances, electronics and kitchenware.
We recommend creation of a new position, SVP of Large Appliance reporting to Jose
Barra. The SVP will have his/her own directs which will be responsible of the
forecasting, buying, implementation, merchandising, and training of this new product
line. In addition, highly experienced team members with past appliance experience will
be required to provide guest the highest level of service and drive sales performance.
IMPLEMENTATION PLAN
Timeline
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Target currently has 1,801 stores in 49 states and 133 stores in Canada. We will
begin by adding our large appliance section to our top 500 high volume store locations
in California, Texas, Florida and Illinois as well as online at our Target.com website.
California has a total of 250 stores and we will begin by offering our large appliances in
220 best performing stores starting in mid-2015 based on our results of fiscal year
ending 2014. Texas has a total of 149 stores and starting in mid-2016 we will offer our
large appliances in the top 120 performing stores based on the financial results of fiscal
year ending 2015. Florida currently has 123 stores and Illinois has 90. We will take the
top 160 stores based on fiscal year 2016 financials and offer our large appliances in mid-
2017 in these stores. Offering the large appliances mid-year allows awareness to build
amongst our customers before the holiday season when sales spike.
EVALUATION
Once we finish implementing the launch of all the planned stores in year 2017 we
expect to be in control of 3% of the total market for large home appliances. We will
evaluate initial sales for the first stores at the end of 2015 as well as year-over-year sales
in 2016 to see how same store sales progress over time. We will continue to monitor
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year-over-year sales throughout the launch and see what is affecting sales so that we
may update the marketing program as needed to adapt to the environment. If our initial
launch progresses well with the planned 500 stores we will continue to offer our large
appliances in more stores. If the program is not successful and any changes marketing
changes made do not make Target competitive in the large home appliance market, we
will phase the large appliances out of our 500 initial stores after 2 unsuccessful year-
over-year sales growth.
CONCLUSION
Overall, Target’s objective is to be the preferred shopping destination that
continues to deliver outstanding value, continuous innovation, and exceptional guest
experiences. Target’s marketing plan starting with the SWOT analysis evaluated the
strengths, weakness, opportunities and treats. This allowed understanding of its current
position for a new product. With these in mind and after doing a thorough analysis
Target can confidently introduce a new line of large appliances for the home.
Target’s product line consisting of five major components of refrigerators, range,
dish washer, washer and dryers, will add to the company’s mission, goals and core
competencies that we try to accomplish. This line produced by three well-known
brands, including Whirlpool who will manufacture Target’s private label, ““ Bull’s-
eye”, will all add value to Target. This quality product line of large appliances has
never been introduced to Target. Yet, they will appeal to our guest because we are
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confident they will be of the highest quality materials, latest technology, and energy
competences that we look in to reduce our energy consumption.
Whirlpool has had an exceptional brand name that has been trusted over the
years and now being partnered up with Target it will represent beyond the quality and
innovation our guest desire. Not to mention, the added pricing, promotional and
pricing strategies we’ve outlined will all generate a new source of revenue for this
company. Target expects this product line to complement with the small appliance
category they already provide to guest that will increase future sales revenue. Within
the five-year sales projection, Target is estimating they will be close to $160 million on
large appliance sales.
Target’s marketing plan intent will be to take advantage of its already well-
known brand and further benefit from another base of revenue source. Target will
initially add large appliance to our top performing 500 stores located in California,
Texas, Florida and Illinois. This will give us an understanding of how we will continue
to implement large appliance throughout our store based upon these locations
performances. Target knows that a new line of appliances and the private label “
Bull’s-eye” will demonstrate Target’s dedication of not only meeting, but also
exceeding our “Expect More. Pay Less brand promise”(Mission & Value). The pricing
strategy will allow for our guest to continue their expectations of paying less for a
quality product.
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Target will continue to offer competitive prices on the name brands and beyond
exceptional cost savings with the private label. Additionally, an incentive to save with
the REDcard will persuade guest to purchase these items at even a more inexpensive
price. Overall, we expect these stores to succeed and continue an increase in sales
revenue. Knowingly that our guest will be able to expect a high quality, latest
technology and energy efficient valued products within our collection.
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Appendix
A.
B. Target product selection
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C. Target Household Essential brand samples
* Target.com
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D. US Industry 5 Year Projection
(Household Appliance Manufacturing - Quarterly Update 11/3/2014)
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E. Target’s Five Year Projected Sales for Home Appliance
Grand Total
Dollar sales Unit sales Dollar sales Unit sales Dollar sales Unit sales Dollar sales Unit sales
2015 - 1Q $1,800,000 1,500 $1,800,000 2,118 $3,600,000 6,546 $540,000 635
2015 - 2Q $4,500,000 3,750 $4,500,000 5,294 $9,000,000 16,364 $1,350,000 1,588
2015 - 3Q $4,500,000 3,750 $4,500,000 5,294 $9,000,000 16,364 $1,350,000 1,588
2015 - 4Q $7,200,000 6,000 $7,200,000 8,471 $14,400,000 26,182 $2,160,000 2,541
TOTAL YR 1: $18,000,000 15,000 $18,000,000 21,177 $36,000,000 65,456 $5,400,000 6,353 $77,400,000
2016 - 1Q $2,160,000 1,800 $2,160,000 4,800 $4,320,000 21,600 $648,000 762
2016 - 2Q $5,400,000 4,500 $5,400,000 12,000 $10,800,000 54,000 $1,620,000 1,906
2016 - 3Q $5,400,000 4,500 $5,400,000 12,000 $10,800,000 54,000 $1,620,000 1,906
2016 - 4Q $8,640,000 7,200 $8,640,000 19,200 $17,280,000 86,400 $2,592,000 3,049 0
TOTAL YR 2: $21,600,000 18,000 $21,600,000 48,000 $43,200,000 216,000 $6,480,000 7,624 $92,880,000
2017 - 1Q $2,592,000 2,356 $2,592,000 5,760 $5,184,000 25,920 $777,600 915
2017 - 2Q $6,480,000 5,891 $6,480,000 14,400 $12,960,000 64,800 $1,944,000 2,287
2017 - 3Q $6,480,000 5,891 $6,480,000 14,400 $12,960,000 64,800 $1,944,000 2,287
2017 - 4Q $10,368,000 9,425 $10,368,000 23,040 $20,736,000 103,680 $3,110,400 3,659
TOTAL YR 3: $25,920,000 23,564 $25,920,000 57,600 $51,840,000 259,200 $7,776,000 9,148 $111,456,000
2018 - 1Q $3,110,400 2,828 $3,110,400 6,912 $6,220,800 31,104 $933,120 1,098
2018 - 2Q $7,776,000 7,069 $7,776,000 17,280 $15,552,000 77,760 $2,332,800 2,745
2018 - 3Q $7,776,000 7,069 $7,776,000 17,280 $15,552,000 77,760 $2,332,800 2,745
2018 - 4Q $12,441,600 11,311 $12,441,600 27,648 $24,883,200 124,416 $3,732,480 4,391
TOTAL YR 4: $31,104,000 28,276 $31,104,000 69,120 $62,208,000 311,040 $9,331,200 10,978 $133,747,200
2019 - 1Q $3,732,480 3,393 $3,732,480 8,294 $7,464,960 37,325 $1,119,744 1,317
2019 - 2Q $9,331,200 8,483 $9,331,200 20,736 $18,662,400 93,312 $2,799,360 3,293
2019 - 3Q $9,331,200 8,483 $9,331,200 20,736 $18,662,400 93,312 $2,799,360 3,293
2019 - 4Q $14,929,920 13,573 $14,929,920 33,178 $29,859,840 149,299 $4,478,976 5,269
TOTAL YR 5: $37,324,800 33,932 $37,324,800 82,944 $74,649,600 373,248 $11,197,440 13,174 $160,496,640
Range
FIVE YEAR PROJECTED SALES
SEASONALLY ADJUSTED BY QUARTER
Refrigitators washer and Dryers Dishwahers
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F. Five Year Projected Sales by Quantities
(Ltd)
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