Management Capstone Project: Target Corporation

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PART 1: Situation Analysis of Target Corporation

Introduction

Target Corporation is the second largest retailing store in the United States behind Walmart. The company headquarter is situated in Minneapolis. The company was founded in 1902 in Minneapolis as the Dayton Dry Goods Company, although its opening Target store was opened in 1962 in nearby Roseville, Minnesota. Target developed and ultimately became the principal distribution of Dayton Hudson Corporation; concluding in the corporation being renamed as Target Corporation in the year 2000 on August. The brand is well known for conducting its retail business with strong and committed mission and with a broad vision. The mission and vision makes connections that add value in their services of the Target Corporation. The corporation does not take its mission and visions for just granted as it believes in every word of its commitment. The current vision statement of the Target Corporation is as follows: “The corporation offers its customers to accept more and pay less for their everyday needs as it provides a long and exclusive range of designer items that people do not find anywhere at affordable rates” (corporate.target.com, 2013).

According to the corporation this overall concept shows that it is very simple that people need to pay less for their purchases. For that reason, there is strong need to analyze the facts that can support this concept of Target Corporation. First of all the mission statement of the Target Corporation is considered for this purpose. The company current mission statement is as follows: “The company mission is to build Target your favorite shopping destinations in all channels by distributing exceptional worth, incessant improvement and outstanding guest experiences by constantly satisfying Expect more. Pay less, brand commitment” (corporate.target.com, 2013).

Discussion

For supporting its mission statement, the company is committed to its promise by offering great value to its stakeholders. The corporation design items which are not only accessible but also affordable for its customers and these concepts are the innovation strategy of a company. The overall designed items of the company not only satisfy the customers in terms of looks but also in the way that can satisfy their needs and lifestyles. Target Corporation works hard both in online shopping and in-stores business so that, the customers always enjoy their shopping trip and consider the experience as a mind blowing journey of excitement. The reason for this is the friendly attitude of team members, who are ready to provide assistance to the customers with fully placed shelves of items, list of goods and the prompt billing and payment processes along with speedy checkouts and this is the starting experience of every customer (corporate.target.com, 2013).

The corporation is concerned about the money of its customers and it is also given respect to the budget of its consumers. The company tries to give the best value for its customer's money every time when they shop from the Target Corporation. The company offers low prices with good quality products range and ...