MARKETING MIX

Marketing Mix

Marketing Mix

Company Overview

Target Corporation is a department store chain, founded in Minneapolis, MN, United States, in 1962. It is the sixth company in retail biggest United States , behind Wal-Mart , The Home Depot , Kroger , Sears Holdings Corporation and Costco, and is listed in 27th position in the 2005 Fortune 500. .

It has hundreds of stores for the locations of the 50 U.S. states. With plans to expand into Canada, Western Europe, Japan and Mexico. Until 2004 it was also owns the clothing retail chain, Mervyn's California is sold.

1902 George Dayton opened the first department store in the suburbs of Minneapolis. At that time the company was still called "the Dayton Dry Goods Company." 1910 it was renamed the "Dayton Company."

In 1969, joined the Dayton Company merged with the JL Hudson Company. 1978 bought the Dayton Company, Mervyn's, Marshall Fields in 1990 bought one. The Dayton Hudson Corporation changed its name in 2000. More than 75 percent of the company's revenue came from Target stores. 2001 Target announced that they wanted to continue running the Dayton's-and Hudson's stores under the name of Marshall Field's. On 10 Target announced in March 2004 that the Goldman Sachs Group has contracted to analyze whether they could sell the Marshall-Fields and Mervyn's stores. Three months later, on 9 Sold in June, Target, "Marshall Fields" to the company "May Department Stores Company," in the St. Louis, Missouri has its headquarters. The sale was completed on 31 Made in July 2004. On 21 July 2004 announced Target, "Mervyn's" on one investment consortium for " Sun Capital Partners , Inc. "," Cerberus Capital Management LP to sell "and" Lubert-Adler / Klaff and Partners, LP ". The sale was completed on 2 September ended.

Marketing Mix

Product

The products offered at Wal-Mart and Target are similar as both are competing in the retail industry which includes food items, beverages, electronic appliances, household products and other daily consumer goods. The main focus of both the companies revolves around on providing cheaper rates for customers to attract larger market share. None of them tries to compete on higher prices in fact; both the competitors rely on larger market share through price penetration. (Achenbaum 2008)

Price

The prices offered and Target in United Kingdom and Wall-mart in United Sates of America are cheaper as they are more inclined towards providing lesser rates and attracting larger market share through it. Wal-Mart is more effective when it comes to providing cheaper rates because they have a larger market share also they have a larger audience who prefer buying daily retail products through Wal-Mart.

Place

Target and Wal-Mart both are very strong with their availability throughout the country. In fact, Wal-Mart is better with their availability of stores as they are the largest retail store in the world because of their strong supply chain management.

Promotion

The promotional advertising carried by Wal-Mart and Target are very effective for their success. Wal-Mart was the first one to take the initial step to promote the company by providing ...