Target Corporation - Company Profile, Information, Business Description, History, Background Information on Target Corporation

Target Corporation was started as Good Fellow Dry Goods in 1902 by George Dayton. After the company’s merger with J. L. Hudson Company, it owned numerous department chain stores in 1969. In the 80s, Target began expansion of its store all across the United States, introducing new formats of stores in the 90s. The large department store has found great success in establishing itself as a cheap-chic competitor in the business (Suh, Kim, & Park, 2019). The company has since dominated the market is the 8 th largest retailer in the US and has subsidiaries in Canada and Australia. It further operates retail and financial services, label of private brands, distribution centers, Target sourcing services, and website. 

Main Competitors 

The giant discount retail department store has similar companies competing directly by generating revenue by offering competitively-priced consumer goods. Competitors in the retail industry include Costco Wholesale and Wal-Mart Stores that also do not manufacture products but get them through contracts with suppliers (Suh, Kim, & Park, 2019). Of late the giant online store Amazon has been a significant threat to not only Target but all the retail department stores. 

Core Competency 

The retail goliath has differentiated its operations from those of its competitors by the provision of trend-forward, upscale merchandise at reduced prices instead of the customary concept of concentrating on low-cost products. The design of its stores is also unique and appealing in comparison to competitors (Suh, Kim, & Park, 2019). The having more attractive display of goods, drop ceilings, more full aisles, and cleaner fixtures, the department chain has managed to attract consumers who are younger compared to the other giant retail stores. 

Senior Management 

The management of the store includes chairman of the board and Chief Executive Officer, Brian Cornell, John J. Mulligan as the COO and Executive V. President, Rick Gomez as the Executive V. President and CMDO, Melissa Kremer as the Executive V. President and CHRO. 

Reference 

Suh, Y., Kim, E., & Park, M. C. (2019). Inter-type differences in store personality between department stores, hypermarkets, and mobile commerce. International Journal of Mobile Communications, 17(1), 60-81.