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Catherine Davis Anna Goetz Corinne Gundersen Lauren Werner

Catherine Davis Anna Goetz Corinne Gundersen Lauren Werner. History. 1903-Dayton Dept. Store opened in Minneapolis 1954-J.L. Hudson opened Northland center Two Companies merged in 1971 to become Dayton Hudson Corp. (DHC)

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Catherine Davis Anna Goetz Corinne Gundersen Lauren Werner

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  1. Catherine Davis Anna Goetz Corinne Gundersen Lauren Werner

  2. History • 1903-Dayton Dept. Store opened in Minneapolis • 1954-J.L. Hudson opened Northland center • Two Companies merged in 1971 to become Dayton Hudson Corp. (DHC) • Over the years, DHC created Target stores and acquired Mervyn’s and Marshall Field’s • 2000-DHC changed its name to Target Corporation and crafted this logo • Target Corporation is America’s second largest general merchandise retailer

  3. Corporate Identity System • Logo: Red Bull's-eye with Target Corporation written above it • Slogans: • Target- “Expect more…Pay less” • Mervyn’s- “Big brands…small prices”

  4. Target Corporation • Nationwide Stores: • Target-1,167 • Mervyn’s-265 • Marshall Field’s-64 • Target Corporation has 280,000 employees in 47 states

  5. Target Corporation Cont. • Upscale and Moderate price stores to Full-Scale department stores • 2001 Revenues: • Target-82% • Mervyn’s-10% • Marshall Field’s-7%

  6. Principle Products and Services • Clothes for men, women and children • Featuring Mossimo, Swell by Cynthia Rowley and Ilene Rosenzweig, Liz Lange, Michael Graves and Cherokee • Toiletries, Electronics, Toys, Sporting Goods, Housewares

  7. Finance • Market Capital-$23,871,500,000 • Last Year Revenue-$27,757,000,000 • 14,000 Shareholders • 908.7 million outstanding shares

  8. Finance Cont • Five-Year summary • YearSalesNet Income 2001 $39,888,000,000 $1,368,000,000 2000 $36,903,000,000 $1,264,000,000 1999 $33,702,000,000 $1,144,000,000 1998 $30,662,000,000 $935,000,000 1997 $27,487,000,000 $751,000,000

  9. Strengths • Brand Image • -Target-”Expect More…Pay Less” • -Mervyn’s-”Big Brands at Small Prices” • New Wave of Advertising • High level of quality and satisfaction • Fairly new company and stores • Stores have access to more than 100,000 different items from more than 10,000 different vendors

  10. Strengths Cont. • Customer Service • Create friendly, helpful minded employees to make shopping at Target Corp. stores a pleasant experience • The Customer Service Center is open 7a.m.-8p.m. CST seven days a week • 80% of all calls are answered within 20 seconds • 100% of emails are responded to within 8 hours

  11. Strengths Cont. • Community Service • In 2001 Target Corp. gave over 2.5% ($86 million) of their income to charities • Ranked #1 on Forbes Magazine list of America’s Top Philanthropic Companies • 1946-Tradition of giving back to the community began-$400 million has been given back • No Child Left Behind program

  12. Weaknesses • Behind Wal-Mart in quarterly earnings • No greeter to welcome patrons • Misconception that low price is evident of low quality • Lack of recognition of Mervyn’s and Marshall Field’s

  13. Bed Bath&Beyond Best Buy CVS Costco Wholesale Dillard’s Dollar General Federated Foot Locker J.C. Penney Kmart Linens ‘n Things Nordstrom Saks Inc. Sears Spiegel The Gap Kroger Neiman Marcus Toys “R” Us Wal-Mart Competitors

  14. Threats • Perception of product quality • Key competitors • Federated • Kmart • Wal-Mart

  15. Improving Reputation • Building guest loyalty and enhancing profitability • Use of the Internet • Community involvement • Continuous growth and expansion through construction of new stores

  16. Recommendation Plan • Publics • Middle-class families and 18-34 year olds • Objectives • Increase awareness of quality of goods • Increase corporation unity among three stores • Increase nationwide awareness of Marshall Field’s and Mervyn’s stores

  17. Recommendation Plan Cont. • Strategy-Increase unity among stores • Tactics • “Expect More…Pay Less” • Place Target Corporation logo on all ads for Target, Marshall Field’s and Mervyn’s • Strategy-Promote quality of goods • Tactics • Continue to bring in emerging designers • Highlight designers and first-hand accounts in advertisements

  18. Recommendation Plan Cont. • Strategy-Increase awareness of all Target Corporation stores • Tactics • “A Store, A State”

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