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Target Corporation

Target Corporation. By: Monique Cuellar Anthony Ferrera Phung Truong Robert Dacanay Jenalee Vasquez. Current Status of Company:. 2003 Revenues = $48 Billion Market Share = 17% % of Revenues Target Stores 84% Mervyn’s 9%

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Target Corporation

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  1. Target Corporation By: Monique Cuellar Anthony Ferrera Phung Truong Robert Dacanay Jenalee Vasquez

  2. Current Status of Company: • 2003 • Revenues = $48 Billion • Market Share = 17% % of Revenues • Target Stores 84% • Mervyn’s 9% • Marshall Field’s 6%

  3. Company Locations: • 1,313 Stores and 136 Super Target Stores in 47 States • Number of Employees:328,000 • Headquarters: Minneapolis, MN

  4. Suppliers: Requirements for Suppliers: • Must have Electronic Data Interchange (EDI) capabilities • Financial Stability • Ability to Serve Multiple Companies • History of Successful Projects • Understanding of Target’s Business Practices • Ability to Provide High Quality Goods • Compliance with OSHA • Ethical Business Conduct

  5. Customers: • Median age = 45 • Avg. Annual Income = $57,000 • 90% of customers are female, of that, 39% have children • 44% have college educations

  6. Competitors • Wal-Mart • K-Mart • JC Penny • Costco • Walgreens • Best Buy • Gottschalks Indirect Competitors: E-Bay Urban Outfitters Williams-Sonoma May Saks

  7. Company’s use of IT/IS: • For Customers: • Real-Time Customer Relationship Management System (CRM) • Visa Smart Card • Target.com For Suppliers: • Electronic Data Interchange (EDI) • Partners Online Website

  8. Threat of New Entrants • More companies = more competition • new entrants will compete for (marginal) market share • E.g. Kohl’s – recently opened stores in N. California & Bay Area

  9. Power of Suppliers • Pressure suppliers place on a business • Product is important to the buyer

  10. Power of Buyers • Pressure buyers (consumers) place on a business • Switching to another (competitive) product is simple • Products is not important to consumer; can do without for a period of time • Customers are price sensitive

  11. Availability of Substitutes • Existence of similar, competitive products & service • Specialty stores compete with specific and superior products (i.e. Ikea, Pottery Barn, Bed Bath and Beyond) • Catalog/On-Line shopping

  12. Competitive Rivalry • -Intense competition between existing firms in the industry • -Similar products and services from competitors • E.g. Wal-Mart, K-Mart, Walgreens, Kohl’s

  13. Target’s Competitive Strategies • Cost Leadership • Differentiation • Innovation

  14. The use of IT/IS: CAM

  15. Opportunities • Positioning of Company • Reflecting a better image • Exclusive agreements with leading companies • Corporate Culture • Walt Disney training program • “fast, fun, and friendly”

  16. Challenges • Competing with retail giant Wal-Mart • Handling returns • Overseas labor

  17. Strengths • Strong Customer Base • Product Diversity • Target Visa Card • Strong Growth • Expansion

  18. Weaknesses • Poor Strategic Plans • Poor Performances • Marshall Field’s • Mervyn’s

  19. Improvement with use of IT/IS • Target.com • Purchase products • View Status • Store Locations • Weekly Ads • E-coupons • Team up with Amazon.com

  20. The End Any Questions?

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