Target Corporation Business Strategy

Nordstrom’s store interior design has a traditional wood, elegant appearance and, at the same time, conventional. From the main entrance, people can appreciate the illuminated interior lights of Nordstrom with its picturesque windows placed on both sides of the door where they used to collocate inanimate mannequins dressed in the last attire of the season; a festive recreation to enhance consumerism or, Nordstrom’s’ magazines postcards. The retailer entrance is like a short tunnel, an abstract or geometric museum painting that magnetizes people to discover their merchandise variety. At the end of the entrance, in the form of the mini art exhibition tunnel, people can find an empty corridor of merchandise that give people a sensation, a wider and more orderly view of the store, which takes people to the heart of Nordstrom store, the stairs.

Regarding Target’s initial financial start, Target was founded by George Draper Dayton, who was as a banker and real estate investor. Dayton attended a church that eventually burnt down during the Panic of 1893, and next to that church was an empty lot. They asked Dayton to purchase it, and he built a six story building on it, which was eventually called Dayton Dry Goods Company in 1903. In 1962, John F. Geisse developed the idea of an upscale discount store and renamed the store Target. During the initial years, the Target store lost money and had reported more liabilities and debt than revenue, but then reported it’s first gain in 1965 when sales reached almost $39 million. By then, they had opened up a fifth store in Minneapolis (Nolen 2014).

Target Corporation has many different strengths compared to its competitors. Target is the second biggest concession retailer in the United States. Target has a great reputation and strong brand that they spent time and money creating and still try to enhance through their current and future business decisions. About 97% customers are able to recognize Target with its bullseye logo. Target has the ability to create great relationships with customers, and Target has strong and unique marketing tactics. Also, the company provides higher quality and innovative products than its competitors.

In this criteria, I will explain how business environment such as political, social, technical, legal and environmental and cultural environment shape the behavior of Target Corporation.

Owners – Target’s owners are one of the most important stakeholders. They are the people who started and owns the business to profit from the successful operations of Target. They have decision making aptitudes and the people who has first right to profit. The proprietors are the primary strategist and organizer. They are the ones who comprehend the business so well and they started-up capital to get built up and develop their items and administrations. They additionally conform to government and business authorizing

In order to achieve and sustain competitive advantage, a business needs both resources and capabilities. Resources are assets that are owned or employed by an organization. The organization utilizes and uses these assets to carry out their business operations. Resources can be grouped either tangible assets or intangible assets. Capabilities are complex skills or ability that a firm develops with time to perform business operations competently and utilize their resource effectively.

The variety and assortment of products in today’s world is growing heavily making consumer decisions harder and harder. Thus, the need of in-store visual merchandising be-comes relevant as never before. The more choices consumers are faced with, the more time they tend to spend while making purchasing decision, and visual merchandising may help to facilitate those choices. This reflection paper is aimed at drawing understanding on how visual merchandising influence consumer behaviour and how it stimulates the purchase de-cision.

Target also invests chairs and tables for customers who want to have meals or drinks in food location which is comfortable for customers. In addition, Target invests computers to help customers who want to print or design their picture and document. Moreover, Target also has modern machines and software technology which support customers create and edit by the effective way in their work. Additionally, Target always has staffs who are willing to give customers a hand to design or fix their work. Clothes are displayed in Target is high quality with special design, so it is easy to attract the customers. In addition, Target has credit card machine with chip reader which protect the personal information of the customer effectively.Target also invest in the delivery truck for membership that they can receive their goods and services faster. The disadvantage of Target is an area of premises which are not too wide to display and purchase plant like

“‘My mother says that I’m the best-paid spy in America,’ he told me. He laughed, but he wasn’t entirely joking” (Gladwell 98). The ‘he’ referred to is retail anthropologist and urban geographer, Paco Underhill. In “ The Science of Shopping” by Malcom Gladwell, Gladwell gets an inside look on the specific reasonings of why each store is set up the way that it is. There is a true science to how every single shopping location displays it’s products. Concisely, if they were to stray from this science at all, their business would most likely begin to suffer. Something that a lot of people are probably unaware of is the fact that many shop managers have to hire consultants, such as Paco, in order for their stores to become successful. It is only because of people with the natural curiosity of why people shop the way that they do, that Paco is able to help struggling businesses.

Investors in Wal-Mart were aware of the obstacles that the giant retailer would face due to the changing consumer preferences and behaviors. However, the financial reports showcased that its online strategy was successful. At the end of the second quarter in 2017, Wal-Mart reported revenue of $123.4 billion, which was an increment of about 2.1% over the previous year quarter. There was also an increase in comparable sales by 1.8% year over year.

Toyota Motor Corporation is a Japanese company that is involved in the design, assembly, manufacture and sale of a wide range of motor vehicles such as minivans, passenger cars, commercial vehicles, and assorted accessories and parts (Nkomo, 3). Examples of brands under the Toyota portfolio include, but are not limited to; Lexus, Toyota, Hino and Daihatsu. Toyota was founded in 1937 by Kiichiro Toyoda and has grown to not only be the world’s leading auto manufacturer in the automotive industry, but also the world’s eighth largest company with operations in virtually every corner of the world (Nkomo, 3).

McDonald’s is the largest fast food restaurant chain in the United States and represent the largest restaurant company in the world, both in terms of customer served and revenue generated. In 2014 IBISWorld market research estimated MCD held an 18.6 % of market share of the entire global fast food industry; Burger King in at just 4.6%.

The push system – it is when manufacturers decide what they are going to produce and then try to get retailers to purchase it and sell it for them.

Their motto “Expect More” “Pay Less” could be used with the current strategy to let customers know that they deserve better or higher quality clothes, appliances, and other products, which other stores do not provide. Like adding, “You Deserve it” at the end of the current motto will have people thinking and saying “Do I?” This might make it possible to tap into a completely new market segment and help in gaining profits and revenues in