Essay on The Impact Of Marketing On The Retail Industry

1020 Words Mar 21st, 2016 null Page
In 1911 George Draper Dayton founded the Dayton Company, a department store that was known for its variety of goods and services, in Minneapolis, Minnesota. The first Target was founded in 1962 in Roseville, Minnesota as a discount version of the original Dayton stores.9 The purpose for the first Target was to meet all the needs of the consumers while providing exceptional customer service at discounted prices and differentiating itself from its competition.10 This philosophy has carried the company to become one of the most successful retailers in the United States. In order to understand just how Target grew to become such a retail giant, one must analyze the company from the inside out to get a clear picture of just how strategic plans and ideas are made, the resources the company has acquired and other factors that allows Target to continually succeed in the retail industry.
The external environment in which Target operates in encompasses a lot of factors that contribute to the manner in which the company conducts business. One factor is the consumer base in which the company markets and sells to. As with any for-profit business, Target wishes to provide its products and services to anyone and everyone. The company seeks to appeal to not only the “Boomer Mom”, a term Target executives coined for women who stays at home, takes care of household, drives a minivan, and still wants stylish chic designer clothes that fit their budget, but the company also wants to appeal to…

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