Marketing Strategy Of Target Corporation: Lessons In Retail Success

? Target’s target Corporation is to get me to spend all the money in my pocket??. But what’s funny is that it always manages to reach that target?.

Okay, we’ve said “targets” enough in one line. But that’s the point of today‼️

We need to figure out how Target always hits its target and how it gets us to buy three full carts when all we wanted was a box of Pop-Tarts ?!

Now, if you’re still not sure what Target is, we don’t know what to tell you?. No, I’m not joking. In fact, we do have something to tell you?

Target Corporation is one of the largest retail store chains in the United States. It has 1,954 stores in all 50 US states, 56 supply chain sites, and more than 30 offices around the world?. It also has more than 45 brands that are only Target-exclusive, and lastly, how can we forget the OG, the classic, Bullseye? !?

That’s quite an opening, right?

Now, buckle up because we’re going to drive to Target?. We’ll know everything there is to know about their past, how they market themselves to us, and everything else.⤵️.

Contents

History of Target Corporation

In 1962, George Draper Dayton’s Dayton Company launched the first Target store in Roseville, Minnesota, and forever changed the retail landscape. After merging with the J.L. Hudson Company in 1968, the Dayton Company became known as the Dayton-Hudson Corporation.

The industry decided to rebrand itself as Target Corporation only in the early 2000s and later renamed all its department stores as Target stores.?

The store’s name, “Target,” alludes to its mission of serving clients with a wide selection of goods at reasonable costs. Target retailers make every effort to cater to their client’s wants and needs, as the word “target” conveys additional implications of precision, accuracy, and reaching a desired mark.

What’s so special about The Bullseye’s Mascot ❓ The bullseye in the Target logo represents the store’s commitment to helping customers find the precise products they’ve been looking for?.

Target has invested much in its digital infrastructure and online presence in recent years. With more than 1,900 locations, Target is now one of the largest retailers in the United States. It sells a vast assortment of goods, from clothing to groceries to home appliances to gadgets.

The business keeps developing as it responds to customer feedback and takes advantage of emerging technologies to improve the online shopping experience.

Marketing Strategies of Target Corporation

Let’s find out the many tactics that Target uses in order to make a sale to us? –

Target Circle ⭕

Target Circle is the name of the store’s customer loyalty program. The Target Circle was created to reward regular shoppers with exclusive perks and discounts.

It’s completely free and provides real benefits to its more than 50 million monthly users. Regardless of how long they’ve been a member, anyone can load up to 50 deals onto their account.

Rick Gomez, Target’s chief marketing officer, responded to a question concerning the Loyalty Program by saying, “Our goal is to motivate all guests to choose Target more often by providing meaningful benefits.”

FUN FACT – Over 25 million customers joined the Target Circle in its first two weeks, making it the fastest-growing loyalty program in the country!

Store LayOut ?

To guarantee a uniform shopping experience for customers no matter where they are, Target debuted the “racetrack” store prototype in 1975. More merchandise may be displayed because the store is laid out with a central aisle and branching aisles on either side.

One member of the group remarked, “Guests are able to quickly and easily find what they’re looking for thanks to the logical layouts, uncluttered aisles, and clean look of our stores.”

DID YOU KNOW❓Once, Target opened eleven stores in the same city on the same day?.

Competitive Pricing and Promotions ?

If a consumer discovers a lower price on an identical item at a competitor’s shop, Target will honor that price. With this tactic, Target can reassure its customers that they will always receive the lowest possible price on its products.

Mailers, newspapers, and the company’s own website all feature Target’s weekly circulars and advertisements. Discounts, sales, and deals on best-sellers are highlighted in these advertisements.

Target’s goal in advertising these bargains is to encourage people to frequent the store or website.

(OOPS! For decades, “Tarjay” has been the common nickname for Target?.)

Social Responsibility and Cause Marketing ?‍?‍?

Target puts a lot of stress on being a good citizen through things like being environmentally friendly, giving back to the community, promoting diversity and inclusion, ethical sourcing, and marketing for a good cause.

Through campaigns, co-branding partnerships, customer engagement, and public relations initiatives, they aim to reduce their impact on the environment, give back to charitable causes, participate in local communities, promote diversity and inclusion, guarantee ethical sourcing practices, and align their brand with social causes.

With the help of its employees, the community, and its loyal customers, Target hopes to make a difference in the world.

Target RedCard ?

The RedCard is Target’s store credit card or debit card. With one of these cards, cardholders almost always come out ahead.

A Target RedCard holder receives a 5% discount on most purchases made in-store or online, free shipping on all online purchases, an extended return window, and access to special discounts and promotions not available to the general public.

Members of the RedCard program have access to unique benefits all year long, including discounts, freebies, and other perks.

(LISTEN ? – Cardholders receive a coupon for 10% off a purchase every account anniversary year when you’re signed up for Target marketing emails! ?)

Best Selling Products of Target Corporation

We’re going to Target in search of some of their greatest picks, and when we get back, we’ll have some of their other greatest picks. But lets at least see what these picks even are ⤵️

Aquaphor Healing Ointment Advanced Therapy for Dry and Cracked Skin ?

Aquaphor is a well-known topical ointment because of its ability to deeply moisturize and shield the skin. It’s a best-seller at Target because of how well it works on dry skin, chapped lips, and other minor skin irritations.

Many people choose it because of the formula’s mildness and the fact that it keeps skin supple for a long time.

Neutrogena Make-Up Remover Cleansing Towelettes ?

Make-up removal with these wipes is a breeze. It ought to be prominently displayed in all supermarkets, pharmacies, and beauty stores. It’s gentle enough for sensitive skin and practical for those days when you don’t have the energy to properly remove your make-up.

Brownie Bites ?

If you have a sweet tooth and haven’t tried Target’s brownies yet, you’re losing out on bits of bliss, so if there’s a Target anywhere near you and you’re reading this, please go get a box and eat it while getting back to reading this.

Black Girl Sunscreen Broad Spectrum – SPF 30 ☀️

Because of its superior formulation and the fact that it is a black-owned company, this sunscreen has quickly become a best-seller at Target. It has the most luxurious whipped texture, and it’s suitable for use on any skin type.

Skittles Original Chewy Candy, Family Size ?

No one can resist the irresistible taste of these chewy candy bites. Skittles’ bright colors appeal to adults as much as children. The popularity of the jumbo bag for the whole family is phenomenal.

e.l.f. Power Grip Primer ⚡

This primer is so effective that it almost acts as a glue, keeping your make-up in place all day. Make-up applied over this will last through a million hours in the sun without smudging. Since its release, this product has been Target’s greatest seller because of its smooth and sticky consistency.

Hershey’s, Symphony Milk Chocolate, Almonds, and Toffee XL Candy ?

You might think of these as little morsels of joy. These sweets are the best thing since sliced bread, and they just came out, so everyone’s going crazy over it.

4 Ps of Marketing of Target Corporation

Using the 4 Ps, businesses may plan out the most important aspects of their marketing strategy.

Product, Price, Place, and Promotion are the original “4 Ps” of marketing.

Let’s check them out!↷

Product

The products sold by Target Corporation are staples that consumers consistently and heavily want. As a mass merchandiser that promotes the idea of “one-stop shopping,” it sells a wide variety of things in many categories, from apparel to health and beauty aids to groceries to home decor and beyond.

They are committed to offering only the highest-quality goods, including both well-known and in-house labels. Target’s commitment to its customers and innovation allows it to adapt quickly to changing tastes and demands.

Price

Target has done the impossible by providing price-differentiated products that cannot be found at any other retailer. The corporation has implemented a cost-cutting pricing policy and now sells items at steep discounts. It also gives discounts for buying in bulk and has instituted a bundling pricing structure.

The Target Visa Card, which allows customers to make purchases on credit, has recently been introduced.

Place

Target is a major player in the American retail sector, with locations all throughout the country. Their shops are conveniently placed in high-foot-traffic regions where clients may quickly find them. As e-commerce continues to rise in popularity, Target has established an online platform that allows users to shop via their website and mobile app.

Promotion

To broaden its clientele, Target Corporation has used both above-the-line (ATL) and below-the-line (BTL) advertising. Target has promoted its products through TV commercials, newspaper ads, magazine spreads, and other print and electronic media.

Instagram, YouTube, Facebook, and Twitter all play significant roles in spreading the word about it.

Direct mail initiatives are another tactic used by Target to reach out to repeat customers. The company uses promotions, including buy-one-get-one-free sales, seasonal price cuts, free delivery with online orders, and regular sales, to bring in new clients.

Target has also used strategic sponsorships to boost its brand’s image alongside its other marketing initiatives.

It has partnered with NASCAR and IndyCar racing teams, as well as supported the Oscars, Grammys, Golden Globes, and Emmys, and sponsored events, including the Minneapolis Aquatennial and the Times Square Ball Drop. Substantial donations to schools around the United States attest to Target’s dedication to corporate social responsibility.

Top Campaigns of Target Corporation

Target didn’t get to where it is today without doing some serious campaigning in addition to making use of effective marketing strategies. You’ll have to read on to find out what the campaigns are all about?

Give With Target ?

Target believes it has a significant obligation to contribute to the betterment of society. Customers are encouraged to aid Target in this endeavor by giving a portion of their purchases to causes such as education and disaster relief through the company’s “Give with Target” campaign.

Target Run and Done Campaigns ?

Target popularized the term “Target Run,” which refers to a shopping trip in which a customer intends to purchase only a few goods but leaves with a significant number of additional products.

The campaign promoted Target as a one-stop shop that carries everything that a customer would require, including food, clothing, and household items; you name it, they’ve got it.

TargetStyle Campaign ?

In order to promote its trendy products, Target frequently uses relevant and fashionable models in its ads. The “TargetStyle” campaign features everyday people of all shapes, sizes, and ethnicities to promote diversity and the idea that everyone can look amazing no matter their color, cast, or culture.

Target Loves Everybody ?

You might not be, but Target is very committed to body positivity. They even made a campaign called “Target Loves Everybody” to show this.

The campaign features models of many sizes and ethnicities in an effort to promote body positivity and celebrate diversity. Target can help you discover the perfect swimwear.

The latest commercial portrays four diverse women searching for the right suit. This swimwear commercial is unlike the usually airbrushed beauties. Target Loves Every Body encourages women of all sizes to appreciate their assets and discover the right swimsuit.

KEY TAKEAWAY

Finally, we get to the wittiest portion of our post—our analysis of Target’s marketing strategies. So, you’ve got the lock and the key right here?. Release the lock and remove all the goodies and take them away with you.?

The following are the most important lessons to be learned from Target’s marketing efforts. Target is building a solid reputation as a brand by demonstrating that its products are both reasonably priced and on-trend.

Second, they tailor their advertisements and marketing strategies to the specific demographics of their ideal customers.

Finally, Target places emphasis on omnichannel integration, which involves the company’s online and offline channels working together to create a unified purchasing environment.

Their approaches highlight their dedication to cutting-edge thinking, client service, and the harmonious union of online and offline sales.

Frequently Asked Questions for Marketing Strategy of Target Corporation

Does Target offer gift cards?

Yes, Target sells gift cards. Target gift cards are always a great choice. You may buy them in a wide range of patterns and values and use them to buy anything from clothing and electronics to home furnishings and more. Target shops, the Target website, and other authorized retailers all sell gift cards.

Does Target have a loyalty program?

There is a Target loyalty program, and it’s called “Target Circle.” Members of Target Circle, a free service, are eligible for a number of perks and discounts. Customers who sign up for Target Circle receive exclusive discounts tailored to their shopping habits, a birthday discount, and a one percent savings on all future purchases.

Does Target offer online grocery shopping?

Yes, you can buy groceries through Target’s app or website.

Does Target have a price adjustment policy?

Within 14 days of purchase, if you discover the same item for less elsewhere, Target gladly refunds the difference. Any lane in a Target store can be used for price changes and price matching.

References

http://corporate.target.com/about

https://bestlifeonline.com/target-facts/

https://www.cnbc.com/select/target-redcard-what-you-should-know/

http://www.popsugar.com/fashion/Target-Loves-Every-Body-Swimsuit-Campaign-37690446

Bhasin, H. (2016, August 27). Marketing Mix Of Target – Target Marketing Mix. Marketing91. https://www.marketing91.com/marketing-mix-target/