market is one of the largest in the world and certainly leading in terms of consumerism. As a country of over 300 million potential consumers, our nation is an enticing market for giant discount stores. According to www.statista.com, on average each adult spends about $780 on Christmas gifts alone, and there are also increased sales periods suvh as Black Friday, Halloween, 4th of July, Labor Day, etc.
Living in the global world gives us the opportunity to purchase goods manufactured all over the world at the lowest prices. It also means a constant rivalry between the multinational companies to gain the largest market share. Target Corporation in an excellent example of exploring this subject.The purpose of this writing is to analyze the retail chain store – its performance, management, and marketing aspects, identify the potential problems and ask questions that will help finding solutions to improving the company's brand in numerous aspects.
A. Mission Statement.
"Our mission is to make Target 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.".
B. Company's History.
George D. Dayton started a company called Goodfellow Dry Goods in 1902. In 1918 he created The Dayton Foundation through which he donated $1million to promote welfare. After Dayton's death in 1938, his son, also George continued the charitable efforts by starting the company commitment of giving 5% back to the community – this idea is implemented up to date. After George N. Dayton died in 1950, Donald C. Dayton took over and moved into the discount retail world and rebranded the company as Target. By 1980, Target's annual sales reached $1billion. As of 2015, Target Corporation has headquarters in Minneapolis and consists of 38 distribution locations, 1,801 stores (95,000 to 135,000 2ft), and hire 347,000 people within the U.