Corporations promotional strategy
Part of Target Corporations promotional strategy involves the architecturally designed and enlightening sales retail outlets (“About Target,” 2007). Does Architectural design have something to do with diapers, digital cameras, electronic equipment or probably deck furniture? It means a lot to Target Corporation because their stores are designed for easy circulation and shopping convenience. Related products departments are conveniently located next to each other so that shoppers need not run the whole gamut of the shopping floor – decor placed near the home improvement section or toys next to sporting goods.
Likewise, the retail store is provided with a “racetrack central aisle” which leads shoppers directly to the paying counters. Everything is well under consideration so that shoppers will have an enjoyable experience amidst a clean environment, friendly team members as well as feel-good niceties on the sides. Target Stores leads competition in terms of sales promotions, even for new products that change with the season. It could also be about outdoor living and gardening items, probably school supplies or home decor and maybe the most requested holiday gift.
Target Stores likely retails all the favored items, practically those that come with the changing season. E-commerce is very much incorporated with the sales strategy of Target Corporation. At present, it has launched its website for the benefit of consumers who ply the Internet. Since its inception, the website has consistently ranked in terms of site traffic. Anything that a consumer may need from exclusive products to trend items is now available within their fingertips. The online effort integrates marketing programs and messages into the use of high-end technology, such as podcast and webisodes.
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Apart from Target Corporation’s thrust of zeroing in on the best business environment, it also has strengthened its hold on public relations and publicity, particularly with its advertising agreement with Tribune Media Net in order to increase Target’s brands presence, sales and revenues in the country’s top three markets (Tribune Media Net, 2002). Target management believes that a strong and challenging partnership can provide “value for our guests” as they challenge media to emerge from their self imposed exile. This new agreement will undoubtedly be a milestone which will serve as a measure to corporate advertising contracts in the future.
Target Corporation is not only about achieving profits because it channeled a portion of its revenues to serve a financially depressed area close to a particular retail outlet. According to a 2005 Forbes article, Target is one of the highest cash giving companies in the United States. In fact Target donates as much 5% of its pre-tax operating profit – or around 3million dollars a week to charity (“About Target,” 2007). Additional proof of Targets concern for the less privileged is the establishment of the Target House Complex in Memphis, Tennessee.
This is a housing project intended for families staying at the St. Jude Children’s Research Hospital for treatment. It is composed of 96 fully furnished apartments intended as temporary homes for families with patients under treatment. To date, Target Corporation has given over 150 million dollars to various school beneficiaries all across the country (Wikipedia contributors, 2007). Conclusion: The business strategy used by Target Corporation is a system borne of a thorough understanding of the basic marketing principles, mellowed through the years by constant trends and business opportunities.
It never wavered from its commitment of providing consumers with high quality products that are available at truly affordable prices to much less improve on this commitment. A dedicated company such as Target Corporation is a perfect role model for other entities that merely adhere to maximizing profits and achieving massive company growth. Corporations must show compassion to the needy, should be on the forefront of environmental concerns and provide gargantuan relief to disaster victims not only in the United States but worldwide.
A corporation should not only be known because of its business dealings but also through its social and humanitarian programs.
About Target: Our Focus on Design (2007). Retrieved on November 15, 2007, from Target Corporation site, website:http://sites. target. com/site/en/corporate/page. jsp? contentId=PRD03-001088 Biesada, A. (2007). Target Corporation: Overview. Retrieved on November 15, 2007, from Hoovers, website: http://www. hoovers. com/target/–ID__10440–/free-co-factsheet. xhtml Gole, S. , Fitzpatrick, J.& Srock, M. (2005). Target Corp. Retrieved on November 15, 2007, from http://homepages. wmich. edu/~s3gole/Prot-target_corp. htm
Tribune Media Net and Target Corporation sign Multi-Million Dollar Advertising Agreement. (2002) Retrieved on November 15, 2007, from Tribune Company, website: http://www. tribune. com/pressroom/releases/2002/04252002. html Wikipedia Contributors. (2007). Target Corporation. Retrieved on November 15, 2007, from Wikipedia, The Free Encyclopedia, website: http://en. wikipedia. org/wiki/Target_Corporation