subject: marketing Target Corporation is the second-largest discount store retai
ID: 325590 • Letter: S
Question
subject: marketing
Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Good fellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's.
Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
As of 2017, Target operates 1,834 stores throughout the United States. Their retail formats include the discount store Target, the hypermarket Super Target, and "flexible format" stores previously named City Target and Target Express before being consolidated under the Target branding. Target is often recognized for its emphasis on "the needs of its younger, image-conscious shoppers," whereas its rival Walmart more heavily relies on its strategy of "always low prices.
Target Corporation decide to start its discount store in Saudi Arabia. The Target management hired you as Marketing Manager for its Saudi Arabia operation. You have to establish marketing department starting from the Analysis of market, formulate overall marketing goals, objectives, strategies and tactics within the context of an organization's business, mission, and goals designing and planning the entire function.
1. How will you establish the market research for making better decision to establish and enhance the marketing?
2. How Target Corporation, KSA will evaluate market segments and choose the best ones to serve? How it will create value propositions to meet the requirements of target customers?
Explanation / Answer
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Service providers for the groceries services in United States of America as well as it is the direct competitor of Walmart.
Marketing research can be defined as a process of organising and documenting the specific information for the market from the perspective of the customer or the market. Marketing research involves specific compilation of information through surveys, focus groups, financial Times as well as the computational statistics which are later can be divided into the relevant categories.
Research provide extensive support to the overall structure of the specific task given to any team or individual. By having a specific research on something you directly increase your understanding of the specific subject in which the research is going on. Research also enhances the ability of understanding the situation as well as different aspect of the job or task which directly provides a support to the overall structure of the specific given job. Research process empirical aspects as well as logical and cyclical aspects too. Research has been extensively used for analysing as well as creating critical judgements for the specific task by applying the method in research methods replicability can also be done with the help of the research.
Some basic characteristics of research are as follows
Logical
Research and it's event are based on the logical procedures as well as principles of the expert. This is specific principle and procedures are extremely logical. Hansi can see that being logical is a factor of a research.
Cyclical
Research is always done on a problem and when the problem is sorted out the research finishes with the problem undefined research provides extensive support to the overall problem solving capabilities of an organisation or individual.
Analytical
Research provide enhance analysis over any specific given task and also provide different aspects of the case study while maintaining a standard of analysis and being analytical towards different conditions.
These personal factors play an important role in research as well as analysis of the specific subject. In my request process analytical she is one of the most important part as I want to analyse this present situation for using it in my research paper. By having an ability to analyse and emphasize the specific situation one can easily increase its level of efficiency as well as productivity towards the specific given task. These specific factor for helping me to grow more efficient in terms of application of these factors.
Conveying logical analysis on Environment which is directly being used by target would be essential as it would provide an approach to improve the overall market position of target which would benefit target in a positive manner.
Market segmentation is very essential part for the grocery store as customers are directly dependent on different marketing factors. For capturing bigger market segment customers should be divided according to their payment capacity as well as the nature of purchase in the specific regions. Implementation of electronic record system which are essential for determining the best available solutions would be appropriate as it would provide a better approach for overall distinctions of different individuals in different targeted segment. This targeting would enable target to specify a market according to their needs. By properly targeting the society according to their payment structure as well as their capabilities ,targeting the middle class families would be appropriate and determination of the specific bias should be done on the basis of the paying capacity on the specific region by implementing an electronic record system which tells us about the overall progress or revenue generation from the specific location and behaviour of the customer by using the behavioral analysis.
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