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Target Swot And Porters Five Forces.

2140 words - 9 pages

General Company InformationTarget stores are discount stores that have high end products for mark down prices. The Target experience is distinctive in contrast other leading mass merchandisers. Their stores are fresh, friendly, and easy to shop in environment. Quick customer service and fashionable merchandise delivered for less is emphasized. Target stores are usually built on a one level shop floor, generally between 100,000 and 2000,000 square feet. Target provides employment close to 300,000 people with a employee growth rate of 9%. The retail giant has grown to over 1,400 stores spread over 47 states.Target stores are distinct from many mass merchandisers, because they have department stores roots. In 1961, Dayton's department store recognized a demand for a store that sold quality goods in a quick and convenient format at a less expensive cost to the consumer. This led to the expansion of Target. It started in 1962 when the initial Target store opened its doors in Roseville, Minnesota. Target was the first vendor store to offer well known exclusive brands at discount prices, providing a new niche in an old market place.During the 1970's, Target started the implementation of the electronic cash registers storewide to observe inventory and speed up visitor service. Target hosted an annual shopping event held for seniors and people with disabilities, plus they headed a toy safety campaign. The 1980's brought Target to open new stores regularly and had implemented electronic scanning nationwide. In the 1990's the first gift registers such as Club Wedd and Lullaby Club, for weddings and baby showers, was introduced. The first Super Target store, was opened during this time. Also, introduced was the Target credit card, the Target Guest Card, which was and still is a big money maker for the corporation. With all if this history, there is still a bright future for Target.The success of Target stores a result from the key center of the Company. Their mission statement is as follows: " Our mission is to become the Best Company Ever by serving our guests, our team, our shareholders and our communities." Goals at Target stores are to remain focused on both content differentiation and variety balance. The company has an "Expect More. Pay Less." assurance to its guests. To fulfill the "Expect more", the company continues its successful partnerships with existing labels and has established new relationships with new brands such as Mossimo, Waverly and Eddie Bauer. A factor equally as important to the company is the "Pay Less" promise. This commitment is met by cleansing their mix of good, better, and best products with in key merchandise areas. In 2002, target stores continued to execute their primary strategy, remaining competitive in price and differentiating in their merchandising.Company's SWOT AnalysisPorter's Five Forces ModelThe use of Porter's Five Forces model allows for a comprehensive analysis of the external industry environment. The five...

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