In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
In relation to this case, Target Corporation depicts a brand personality among its target audience. Target Corp. is considered as the retail store that caters to the younger and more educated and well-off clientele as to compare with its rival. In a survey conducted, Target Corp. shoppers fall on a 46 years old age median, mostly female, have children at home, and attended or completed college (Target Corporate Facts, 2006). Thus, the target market is perceived to be sophisticated. However, with the corporate values the corporation applies, the brand personality serves as one of its distinguishing pro.
The following are concrete brand personalities of Target. These are defined by the company, preconceived in the thoughts of the customers, and validated by the shopping experience that they will have within the premises on the company or even in online marketing.
1. The Discount Department Store. Target prefers to be called as the latter instead of just department store. Expect more, pay less. With this tagline, the customers expect to purchase more items and pay the least amount possible. Not like other retail industries like its competitor Kmart and Wal-Mart, Target maintains retail value in terms of product offerings. They are known in their designer’s items in clothes, exclusive beauty products, categorized and functional goods, and seasonal offerings. It also sells the greatest number of gift cards among its rival business.
2. Up-to-the-minute and Trend-forward merchandise
Target offer great items but affordable in prices. As mentioned earlier, items present within the business are proven to be acceptable in standards and quality but never demands a high payment. This is will still be credited to the working objective of the corporation – expect more, pay less. Products ranging from clothing, shoes, jewelry, electronics, household items, toys, beauty products, and food are available and offered. in several outlets, there are also specialized services that the customer can enjoy upon. Among these are fast-food chains such as Pizza Hut Express and Starbucks for food and beverage; Kodak for photo processing; and the like.
3. Innovation and Technology Partnership
With the existing operations of Target Corp. in the online marketplace, innovation and technology is up-to-date. Its website, www.target.com provides the essential information necessary to all online shoppers. They cater to the needs of people who do not have time to visit the traditional market. In order to expand its operations as well as its target market coverage, Target Corp. linked with other IT powerful institutions like Amazon.com (The Write News, 2002) and American Online (AOL) (Mark, 2000). The emerging culture in online marketing is perfected by the processes employed by the management especially the e-commerce integrated team. Sponsorship and future collaboration is expected within the next years to come.
4. Customer value and satisfaction
This is a common brand personality of every service-oriented business. What customers prioritize includes the benefits of a product’s or service’s features, as well as what customers see as the ongoing worth of a relationship with the company. Customers may see value, for instance, in the consistency of your product performance and in the way they feel about your business style or personality. They may also emotionally identify with company actions, goals, and values. Customers may also perceive value from their feelings when in contact with your brand, such as feeling more secure, more comfortable, or more competent. This value adds to relationship depth whether or not customers are aware of their feelings.
5. Diversity
Diversity serves as the business’ core corporate value. Target Corp. promotes diversity which is reflective in their operations as well as its human resources. Their markets are totally different individuals who need various products/services for their personal consumption taking in their minds the need to satisfy themselves. Diversity in their workforce makes them unique form others. They utilize the idea of diversity into a competitive advantage. As stated in their corporate website, “diversity is a core value, an integral part of how we stock our shelves, select our merchandise, design our stores and welcome our guests” (Target Corporate Website, 2006). Furthermore, the diversity reflected in human resources is another brand personality. Staffs who call themselves as team leaders and members serve the diverse array of their clientele. Employee relations and working conditions in the environment are outstanding. The following presents the breakdown of minority employees working in Target Corp.
6. Community Service and Environment Protection
Target Corp. has efforts in connecting business and community as one. They provide financial allocations to the community in which they operated. In a November 2005 Forbes article, Target Corp. constantly placed as one of the most philanthropic companies in the United States. It was regarded as the highest cash giving organization (2.1%) donating approximately 5% of its pre-tax operating profit while giving million dollars a week to the community it operates in (Moyer, 2005). In terms of protecting the environment, Target Corp. management makes recycling practices to minimize the waste of the business’ operation. Their compliance to existing state legislations is admirable. The following is a pie graph that presents how Target Corp. manages their waste materials.
7. Competitive Marketing Outlet
With the effective management and continuous improvement, Target Corp. is a brand that will continue to compete with the trends of the global retailing industry. The competing capability of the corporation is among the numerous and still counting brand characteristics it possess.
The aforementioned and identified brand personality characteristics of Target Corp. are based from conceptual and interrelated facts acquired through observation, collation, and analysis of articles and sources available. It may serve as a guide in devising more aggressive mechanisms that will lead to the development of the marketing strategies, management functions, and other opportunities for growth.
Credit:ivythesis.typepad.com
0 comments:
Post a Comment