Target Corporation Corporate Strategy

2) Company Description

Target Corporation is a multibillion dollar corporation that has a vision to make Target the preferred shopping destination for their customers with a focus on outstanding value, continuous innovation and exceptional experiences. Target strives to consistently fulfill their Expect more. Pay Less ® brand promise.

History

The founder of Target was George Draper Dayton who formed the Dayton Dry Goods Company known today as Target Corporation. Throughout the late 1800’s into the 1900’s Dayton continued to build their brand looking for ways to strengthen relationships and had an early focus on giving back to their communities. In 1946 the Dayton Company established the practice of giving 5% of their pretax profits back

They focused their growth on larger stores to help create a better shopping experience. The new larger stores offered wider aisles, faster and more efficient check lanes and automatic teller machines (ATMs). They expanded the service options to include Food Avenue, expanded pharmacy and photo services and electronic information stations with price scanners. Target continued to focus on the consumer experience with an innovative approach to provide superior guest service, great in-store design, and fashionable, affordable merchandise. They expanded to Chicago in 1993 and unveiled their brand promise of Expect More. Pay Less ®. This brand promise was the continued evolution of Target’s commitment to community giving, offering guest value, quality and service and fun store environment.

Target continued to grow and progress in the 1990’s. They introduced credit cards in 1994, which evolved to Target Visa Credit Cards® in 2001 and to Target Check Card in 2007. They opened their first SuperTarget® in 1995, which included produce, dairy and meats and also introduced the registry service coast to coast in 1995. Target continued to focus on community give back and volunteerism and received the President’s Service Award from President William J. Clinton in 1997 for their “Being a Good Neighbor” volunteer

Target continued to partner with new corporations to offer exclusive deals, such as the partnership with Neiman Marcus. They expanded into Canada in 2011. Set goals to give $1 billion dollars to education by 2015. By 2012 Target had moved into the mobile space to continue improving the guest experience and had also reached the $4 million a week community giving goal. 2012 also marked the 50-year anniversary for Target. Target continues to focus on technology innovation, community give back and improving the guest experience. In 2013 they introduced their Cartwheel digital coupon app developed in partnership with Facebook. They opened the Target Innovation Center in Silicon Valley, expanded their online markets with the addition of Cooking.com and Dermstore.com as well as joined the Bipartisan Policy Center in announcing the Alliance for Bangladesh Worker Safety to focus on improving working conditions for the safety of garment workers across Bangladesh. In 2013 Target exceed its goal of 700,000 volunteer hours by 2015 by reaching one million hours in