BUS330MarketingPaper - Discount Destination 1 A Discount...

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Discount Destination 1 A Discount Destination that Delivers Jennifer Baxter Principles of Marketing Bus 330 Professor Melvin Landry May 25, 2009
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Discount Destination 2 “Expect More, Pay Less: one discount store’s way of enticing consumers to utilize their outlet in the marketplace to fulfill the needs and desires in which their lifestyle demands; the promise of gaining more bang for the buck is Target’s way of appealing to its market. Consumers engaging in Target’s shopping experience are wowed by Target’s ability to uphold its promise of providing department store merchandise at discount store prices. The segments they target, the position they possess in the market, and the ideals they deliver continue to prove fruitful as Target continuously delivers superior value while building profitable relationships with its customers, and at the same time creating profits and customer equity for the company. “With more shopping options than ever before, from online merchants to retailers specializing in competitive pricing on electronics, household goods, clothing, beauty products, and groceries, even the more well-known and larger stores are hard-pressed to distinguish themselves from the pack” (Knowledge at Emory). In order for the upscale discounter to remain a popular destination for shoppers, Target zeroes in on their target market. And although an economy retailer, Target has moved away from the more traditional approach of its discount competitors. By using target segmentation strategies, they have defined their niche and target audience; using demographic and psychographic segmentation, Target has identified its consumers as the middle and upper middle class, as well the lower upper class. According to one marketing study, “Marketers who use social class to segment a market build in product features, design advertisements, furnish stores, and develop the other elements of their marketing mixes to appeal to people in targeted social classes” (Antariksa). One way in which Target’s management achieves this is utilizing their ability to cater to the specific needs of the customers through promotion of their private labels, such as clothing crafted by well-known designer Isaac
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Discount Destination 3 Mizrahi or selling clothing from popular brand name Mossimo, or house wares created by famed architect Michael Graves. Target has changed the definition of “discount retailer” by offering high-quality, in-trend merchandise at attractive prices in clean, spacious and guest- friendly stores, which is very different from its main discount competitors and more closely
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This note was uploaded on 08/29/2011 for the course BUSINESS 101 taught by Professor All during the Spring '11 term at Ashford University.

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BUS330MarketingPaper - Discount Destination 1 A Discount...

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