Retailing is all the activities that are directly related to the sale of goods and services to the consumers for personal non business use. All of the goods and services that are provided to us through retailing mirrors the needs and styles of U.S. society. The U.S economy heavily depends on retailing which helps the gross domestic product. Although there are many retailers that are small, a few retail giants such as Target have been dominating the industry.
The Role of the Retail Giant Target
The classification of this retail operation is a chain store. Chain stores are owned and operated as a group by a single organization. Throughout the years the company Target has grown to become the largest division of Dayton Hudson Corporation resulting in the company being renamed Target Corporation in August 2000.
Product Assortment and Price
Target carries a broad variety of products at discounted prices. Typically it will only carry between four or five different brands for a product, as oppose to speciality stores with a more concentrated product assortment that will carry more brands. Discounters, factory outlets and off price retailers such as Target use low prices to lure shoppers. Stores will lower prices causing competition with competitors, and is also a technique in an effort to win more customers. Electronic Retailing (Online Retailing)
Online retailing is a type of shopping method available to consumers with personal computers and access to the Internet, which is more than 70% of Americans. Since the use of technology and Internet has been on the rise with consumers, Target has taken notice by creating their online site and mobile app. This online retailing method has been proven to be more convenient and less costly.
Promotion Strategy at Target
Promotion strategy includes advertising, public relations, publicity and sales promotion. The promotion strategy's goal is to help position the store in consumers minds. Target has used advertisements similar to high end designer fashion advertisements to depict high quality goods. Their tag line "Expect more. Pay Less" is showing consumers products that they aspire to own are at prices they can afford at Target. Another Promotion strategy that Target uses is hiring popular young designers for temporary partnerships where they develop reasonable priced products exclusively available at Target stores.
Disney at the Retail Target
The Disney Artist Collection for Target is a clothing line for women, men, kids and babies. Most of the items range in price from $12.99-24.99 and the inventory will vary from each Target location. Target was the perfect company for Disney to team up with because their franchise aims at the whole family with retail at low prices.
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