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Target Corporation

Tiffine C. Bourland

Business 4014

Company Overview

Target Corporation is among the largest retailers in the United States. The company stocks apparel, household products, accessories, food, home decors, home furnishings, and pet supplies. In the financial year ended January 2015, Target recorded a revenue of $72, 618 million. Target has its headquarters in Minnesota and employs approximately 347,000 employees in all its branches. The net profit was $2,449 million in the year ended January 2015 (Target Corporation SWOT Analysis., 2016).

History

Target Corporation started in 1902 when George D. Dayton became the sole owner and President of Dayton Dry Goods Company (Target Corporation, 2016). In 1911, the company was renamed to Dayton Company to reflect the broad range of goods stocked. The company entered discount retailing in 1961 after years of immense success (Target Corporation, 2016). The first Target store was opened in May 1961. In 1966, the company opened the first stores outside the Minnesota area.

Products and Services

Target stocks a broad range of products, which include household essentials, fashion products, electronics, pet supplies and home furnishings. Target Corporation is known for quality customer care and delivery services.

Mission Statement

We fulfill the needs and fuel the potential of our guests. That means making Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation, and exceptional experiences—consistently fulfilling our Expect More. Pay Less.® brand promise (Target Corporation, 2016).

Company Culture and Industry

The company culture is driven by the need to provide quality services and products to all its customers. The company sets high standards by making Target the place where one can find all the products they need. Target’s market share in the retail industry is about 6%. Walmart has the largest share of the market.

Customer Profile

Target Corporation is attractive for consumers who are looking to purchase goods at a discount price. It appeals to all types of people regardless of age because it has a section for all types of goods. A soccer mom will find a section for kid products and groceries and the same case applies to a young professional.

Competitor

Target is competing with Walmart, which is the largest retail company in the United States. Walmart offers wide range products and services. It has many branches in different parts of the country with some of them outside the United States. Walmart is an adamant competitor and remains the industry leader.

References

Target Corporation. (2016). Target through the years. Retrieved from Target Corporation: https://corporate.target.com/about/history/Target-through-the-years

Target Corporation SWOT Analysis. (2016). Target Corporation SWOT Analysis., 1-10.