RMTbusinessssignment

RMTbusinessssignment - RMT 301 Professor Amanda Nicholson...

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RMT 301 Professor Amanda Nicholson Business Assignment December 6, 2011 Overview
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Target Corporation is an American retailing company headquartered in Minneapolis, Minnesota. Target is considered the second-largest discount retailer in the United States, just behind Wal-Mart. It is ranked at number 33 on the Fortune 500 as of 2010. Target has an ambitious growth strategy and by 2013, it is expected to operate from 100 to 500 stores in Canada (Target.com). Target Customer Target stores are strategically placed in large population centers with upscale demographics. Target seeks to attract loyal Target shoppers, who will frequent the new stores on the food side and expand the retailer’s reputation for trendy goods and grocery. On average, target customers are 40 years old and 80% of Target shoppers are female. Approximately forty three percent of Target shoppers have children at home. The median household income of Target shoppers is between $55,000 to $64,000. In addition, 43% - 57% of Target shoppers have completed college. More than half of them are employed in professional or other managerial positions (Target.com). Target shoppers look for competitive prices at great values. They look for designer goods and items that are trendy/fashionable. Instead of purchasing a generic cookware set, Target consumers will want to purchase Rachael Ray Porcelain II from Rachael Ray cookware. When buying a frying pan, they want to buy Target’s Kitchen Essentials from Calphalon cookware. Target shoppers realize the importance of retailers being able to match price and quality and Target is able to meet their needs. Whether shopping for women’s apparel or cameras, dining chairs or lamps, Target shoppers always get them at great values with competitive prices. Merchandise Mix
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Target’s target mix encompasses a large range of items. Some of the categories of goods that Target sell in its stores include: food, pet supplies, household essentials, apparel/accessories/shoes/jewelry category, hardlines, and home furnishings (Troy). Below is a list of 5 major categories that are responsible for significant amounts of business in Target stores (Target.com). 1. Toys: Classified by figures and functions of toy such as action figures, arts & crafts, building sets/blocks, dolls, dress up/pretend play, game/puzzles, kid’s electronics, learning toys, outdoor toys, riding toys, stuffed animals/plush to toys, vehicles/radio control.
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This note was uploaded on 01/02/2012 for the course RMT 301 taught by Professor Amandanicholson during the Fall '11 term at Syracuse.

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RMTbusinessssignment - RMT 301 Professor Amanda Nicholson...

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