The following strategic marketing plan is an in-depth look into the organizing and implementation of the steps that Target Corporation will take on its entry into the Mexico market in 2016. Found in this report are; marketing objectives, a SWOT analysis, target market description, strategic marketing plan, budget for promotions, and evaluation and control.
Background: In 2016, Target Corporation will expand into Canada, opening between 100-200 stores in the first year. Following a buyout of Canadian Zeller’s locations, Target has begun to prepare these locations for opening as new Target stores; the first Target stores outside of the continental US. Targets low prices but high quality has allowed it to become one of the largest and most successful retailers in the US, which will be continued with our Canadian expansion.
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Pricing comparable to the US stores, this will attract Canadians who see price difference between the two nations as a sore point thanks to comparable dollars. The placement of stores will be mostly in large urban areas where the population is clustered and streamlining of distribution channel can take place. The Promotional strategy will focus on a wide array of advertising to alert people to Target’s entry to the market with, TV, newspapers, Internet and more.
Goals and Success: If Target can gain significant market share after its first year in Canada, above what Zellers previously held but below Wal-Mart, we will be successful. Obviously, turning a profit is a goal but losses through the first quarter are expected due to high start up costs. If advertising returns see Target as having reached 90% of Canadians and have gotten 40% of them to shop at Target, we will have been