Question

Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Good fellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's. Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States. As of 2017, Target operates 1,834 stores throughout the United States. Their retail formats include the discount store Target, the hypermarket Super Target, and "flexible format" stores previously named City Target and Target Express before being consolidated under the Target branding. Target is often recognized for its emphasis on "the needs of its younger, image-conscious shoppers," whereas its rival Walmart more heavily relies on its strategy of "always low prices. Target Corporation decide to start its discount store in Saudi Arabia. The Target management hired you as Marketing Manager for its Saudi Arabia operation. You have to establish marketing department starting from the Analysis of market, formulate overall marketing goals, objectives, strategies and tactics within the context of an organization's business, mission, and goals designing and planning the entire function.

1. To establish the marketing function of Target Corporation, Saudi Arabia, you have to formulate the followings:

a. Vision b. Mission

c. Business objective.

d. Product and type of services.

2. Develop a marketing Plan for Target Corporation, Saudi Arabia. Define the SWOT analysis for Target Corporation, Saudi Arabia.

3. Analyze the Micro and Macro environment of the Target Corporation, Saudi Arabia.

4. How Target Corporation, Saudi Arabia will establish, develop, and enhance mutually beneficial relationships with customers? Discuss all the activities to establish, develop, and maintain customer sales? 5. Identify the various consumer decision processes for the Target Corporation customer?

6. How will you establish the market research for making better decision to establish and enhance the marketing?

7. How Target Corporation, KSA will evaluate market segments and choose the best ones to serve? How it will create value propositions to meet the requirements of target customers? 8. How Target Corporation, KSA will manage all of their products and services?

• The word count for this assignment must be between 2500 to 3000 words.

Answer 1

Background:

Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota.

Target Corporation has hired me as a marketing manager for the Saudi Arabia country. I need to establish the marketing function in the Saudi Arabia for the organization.

For establishing the marketing function in the Saudi Arabia, I will plan below activities as below

Market Research: As a Marketing manager, I would like run the market research for the Saudi Arabia country and its key location which are suitable for Target Corporation and matches with the strength of Target Corporation. The market research will help to understand the market of the Saudi Arabia and will help our strategy for introduction in this market and how to compete in the existing completion.

Vision: As a marketing manager, we need to establish the vision for the target Corporation in the Saudi Arabia country. Our aim will be to deploy the Target corporation business in the Saudi Arabia to the extent of possible. The vision could be as below.

Vision: Explore the business strength of target Corporation to support the people of Saudi Arabia.

Mission: Mission are the directive strategies to achieve the desired vision of the organization in the Saudi Arabia country. The mission could be as below

• Achieve the high share in the Saudi Arabia market for Target Corporation.
• Achieve Excellency in the retail market in Saudi Arabia country with best quality product at lowest possible cost.
• Expand the Retail network to cover the market of Saudi Arabia country with world class services.
• Achieve high revenue and profit for the shareholder of the business.

Business Objectives: the business objectives for the target Corporation could be as below

• Establish the Target Corporation in the Saudi Arabia market at five locations in first year.
• Establish the marketing and branding plan for the target Corporation for Saudi Arabia market.
• Hire and develop the team to support the first year of Target Corporation business in Saudi Arabia market.
• Develop the execution strategy of Target Corporation business for Saudi Arabia market
• Develop the market survival and growth strategy of Target Corporation business for Saudi Arabia market.

Product and Type of services: As a marketing manager, we need to identify and freeze the products requirements for the market and the desired services suitable for the public in the new country. The product and service to be finalized based on the market research and other market analysis and investigations, so that our finalized products are well accepted in the market and the service we offers are well accepted by the consumers in the market.

Marketing and Branding: As a marketing manager, we need to establish the marketing function for the business. The key processes needed for this are marketing, branding and promotion. As a marketing manager, I need to plan the best marketing and branding processes for the Target Corporation so that we can achieve good entry in the market and develop good positive environment for the business in the new market.

References:

• www.google.com

• www.wikipedia.com