Strategic Marketing Plan
Ta r g e t ’s
BMKT 161-81
April 2, 2012
Presented by:
Zhang Zhiye
Erik Granander
Steve Kamyszek
Leah Scheitel
Entry
Into
Canada
Mission Statement:
“Our mission is to deliver outstanding value, continuous innovation, and an
exceptional shopping experience to make Target your preferred shopping
destination. Most of all, we want to always fulfill our Expect More – Pay
Less brand promise.”
Marketing Objectives:
• Contribute to the communities and maintain a high standard of
Corporate Social Responsibility
• Partner with Canadian designers and products that Canadians are
already familiar with and are loyal to
• Use the entry into Canada as a blueprint on how to enter in to a larger
global market
SWOT Analysis:
Strengths
Weaknesses
• Familiarity
• Design
• Marketing Techniques
• Litigations
• Employee Service
Opportunities
Threats
• Entry into Canada
• Private Labels
• Canadian Competition
• Canadian Economy
Marketing Objectives & Target Market
Demographic segmentation
•Over 80% are women
•The median age is 40
•A median annual income is$64,000
•57% have completed college
•43% have children at home
Psychographic and Behavioral
•A pleasant shopping environment
•A complete range of goods
•A convenient location
•Discount
Geographic
•Main cities of each province
•Nearby isolated and rural regions
Positioning
•Local brand
•Women’s fashion brand
•Chasing fashion
•Innovation
•"Expect More. Pay Less."
Marketing Objectives & Target Market
•Develops the Target online shopping software for Table PC and mobile phone.
•Change the Target commodity structure:
2010
2012
Household Essentials
24%
25%
Hardlines
20%
18%
Apparel & Accessories
20%
21%
Home Furnishings & Décor
19%
17%
Food & Pet Supplies
17%
20%
•Partnered with CBC to sponsor a TV shopping programs.
•Create billboard and advertising in sky train and bus stations.
•Create a Target shopping magazine name “Red Target”.
•Launch a support activity for Canada education.
Strategic Marketing Plan
Product strategy
Pricing strategy
• Fashionable and cheap
apparel
• Addition of food and
produce
• Match or beat competition
• Must adjust for new market
Distribution strategy
Promotional strategy
• Purchased over 200 Zellers
locations
• Be in effective locations
that will bring profit
• Be convenient for target
market
• Opened “pop-up” store in
Toronto
• Target website
• 2% of revenue goes to
advertising
• Commercials and videos
with celebrities
Sponsorships
Budget for Promotions
Type of
advertizing
Initall cost
Cost per unit
Number of units Toal unit cost
National
television
$500,000
$100,000 per
spot
1,500 spots
150 M
National
magazine
$60,000
$10,000
perpage
150 pages
$1,500,000
Youtube
advertising
$10,000
$2 per thousand 20 million
views
$40,000,000
Search engines
$10,000
$500 per month 12 months
$6,000
Nationn wide
emails
$20,000
$500 per month 12 months
$6,000
Total costs
$600,000
Grand total:$192,112,000
191.512 million
Evaluation and Control
Profitability control
1. Identify functional expenses: the expenses made to
sell, advertise, pack and deliver the product
2. Assigning functional expenses to market products
3. Preparing a profit and loss statement
Annual Control Plan
1. Setting monthly or quarterly goals in the annual plan
2. Monitoring the actual performance in th background
of the planned goals
3. Determination of cause’s exceptional or serious
deviations
4. Taking necessary corrective action to plug the goals
and performance.