Product:

Target Corporation sells a wide variety of things such as apparel, accessories, electronics, furniture, and home decor. The company's
products cater to a wide range of market segments, from infants to adults and everything in between. Target product sales account for
a sizable amount of their revenue of 88.4 billion USD in 2023.Target marketing its brand products and services by emphasising what
distinguishes the product or service from what competitors provide.Consider Target's in-house brands, (Opal house,Threshold,Archer
Farms)which provide exceptional value and unique products.

A compelling marketing mix including strategies such as highlighting differentiation and offering complimentary products
helps target meet it's customer needs and wants.
Price:
Target employs scale economies, value pricing, and discount pricing strategies. Target has been successful in giving lower
costs than competitors such as Safeway Inc. One may claim that Target's low pricing are primarily attributable to its owned brands
and a variety of products from unknown brands that appear to be of the same quality and design.

Furthermore, Target's loyalty programmes, which include the Target REDcard, Target Visa, and Target Card, provide
customers with discounts and reward points. Target's price rating is 7/10.Another technique to consider for cutting pricing is to
reduce profit margins.

Place:

Target Corporation has a substantial physical retail presence in the United States, with 1948 stores as of 2023. Another option is to
sell the product in physical stores, online platforms, or both. Opening new stores in the United States or expanding overseas will
improve the target's domestic and international market share.
Promotion:

Public relations, sales, advertising, and personal selling are all part of Target's promotional strategy.According to
Statista, Target's advertising expenses amount for 0.96% of total revenue, or $899 million in 2022.Target's products have been
successfully promoted through print, television, and social media advertising, as well as seasonal deals and in-store
promotions.

(Source: Statista)
 STP MODEL FOR TARGET CORPORATION

Segmentation:

Demographics are the finest segmentation base for Target's customers.

Target's target market and market penetration approach is based on the Mass Market. Target has a product for practically
every age and gender category, including children, teenagers, young adults, elderly, and even students, in several departments.

Customers from other ethnic backgrounds, such as Asian and Hispanic, are also targeted by the company. Target customers are
more reliant on physical stores.

Customers' purchasing habits are changing as technology advances and online shopping options improve. Target's typical shopper
is a millennial suburban mom with a $80,000 family income (Reuter, 2022).
Targeting:
Positioing:

Product

Target department store has four product categories with the smallest selection of products: fresh vegetables, fresh seafood,
electronics, and fitness-related items. To compete more effectively with its largest competitors, the firm must expand on
these items.

Price
Target can cut its prices by broadening its supply network. Furthermore, Target may more effectively implement its economies
of scale plan by opening additional stores, resulting in higher quantities of procurement and reduced costs. Another technique
to consider for cutting pricing is to reduce profit margins.

Place

Target is only available in the United States about 1938 and has no international presence. Clearly, expanding its operations
into overseas markets and building more facilities in the United States will boost Target's market share both domestically
and globally.
Promotion

Target's current promotion techniques include a large presence in the United States and the provision of discounts and rewards
through its financial services and loyalty programmes. Target is also known for selling high-quality goods at reasonable costs.

Place

Target's staffing policies likewise prioritise diversity and inclusion. The company is also investing in employee training.
However, it appears like Target has to hire more people to perform retailing on the store floor in order to enhance customer-
employee engagement.

Process

Target's current store design, which includes a grocery section in the back and categorised divisions, is beneficial.To make
shopping easier, the company should extend its self-service payment terminals and staff more cashiers.
Physical Evidence
Target's current store design, which includes a grocery section in the back Physical stores for a better shopping
experience.Target, the seventh largest department store chain in the United States, has been successful in establishing a
reputation as a store that provides great products at reasonable costs, prioritises customer satisfaction, and is dedicated to
addressing the issues of inequality and financial stability.
 References

Company. (n.d.). Corporate.target.com. https://corporate.target.com/news-features/company

Target’s Use Of The 4 P’s Of Marketing – WoodWard Avenue. (n.d.). Woodwardavenue.org. Retrieved December 3, 2023,
from https://woodwardavenue.org/targets-use-of-the-4-ps-of-marketing/

The4. (n.d.). Marketing Mix Analysis of Target Corporation (TGT). Dcf-Fm. Retrieved December 3, 2023, from
https://dcf.fm/blogs/blog/tgt-marketing-mix#Place

Target’s Use Of The 4 P’s Of Marketing – WoodWard Avenue. (n.d.). Woodwardavenue.org. Retrieved December 3, 2023,
from https://woodwardavenue.org/targets-use-of-the-4-ps-of-marketing/