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mkt case 1 - Patrick Hill Assignment Management Case Study...

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Patrick Hill Assignment: Management Case Study 1 MKT 101 Instructor: Tom Passero 13 June 2011 TARGET: FROM “EXPECT MORE” TO “PAY LESS.” RECENT EVENT: According to Bloomberg, at an annual meeting Target detailed out a $100 billion goal for the next six to seven years. Gregg Steinhafel, CEO, plans on doubling Earnings per Share from the current $4 to $8 dollars and convert the $67.4 billion in sales to $100 billion within this time frame as well. Steinhafel believes that the newly opened Pittsburgh locations will be a key element in Target’s growth plans with “penetrating” urban markets. With addition to these stores, there are a number of subsidiary stores about to open in cities like San Francisco, L.A., and Seattle. Q1: What microenvironmental factors affected Target’s performance over the past few years? The micro environmental factors include the company, the suppliers, the marketing intermediaries, the competitors, the public, and the customers. -The company we analyzed was Target, more specifically the CEO Gregg Steinhafel and the executive vice president of merchandising Kathryn Tesija. These predominant figures, especially Steinhafel, decided that the company needed to focus on the “Pay Less” side without losing brand image. -The Target suppliers were mentioned throughout the case; however, the designer brands Michael Graves and Isaac Mizrahi’s were the ones specifically mentioned. These designers are some of Target’s clothing lines. It was important to keep these lines intact during the recession to help preserve Target’s “cheap chic” label but with lower prices. -The newspaper advertising as well as the commercials were the main marketing intermediaries in the Target case. The “aggressive newspaper advertising” promoted Target’s new “Up and Up” product brand. The commercials were promoting that Target was expanding its target market by market development.
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