Target Corporation: Globalization And Its Impact On International Marketing

EXECUTIVE SUMMARY
Globalisation had an increasingly significant impact on international marketing. As the cost and complexity of operating in overseas market has been reduces by globalisation, more and more markets are now becoming open to international organization. This system has resulted into increased market competition which in turn increasing the importance of effective international marketing. Most of the companies want to explore themselves in international market rather than becoming a player in a long held domestic market. All in all, this paper aims at explaining and defining the strategies through which international organizations can adapt to the ever changing environment, tastes and preferences of customers
Dayton decides to explore the growing Midwest markets. After many years in banking and real estate, Dayton decides Minneapolis offers the strongest opportunities for growth. He purchases land on Nicollet Avenue and forms the Dayton Dry Goods Company–today, known as Target Corporation.
He became a partner in Goodfellow 's Dry Goods Company, the fourth largest department store in Minneapolis, Minn. The following year, showing greater involvement, Dayton took sole ownership of the store and became the first President of the newly named Dayton Dry Goods Company. In 1911 because of the rapid growth, The Dayton Company reflected its wide assortment of goods and services. It was started to be known as Dayton 's department store.
On May 1, 1962, Target 's first store was opened with a grand opening in Roseville, Minn. It was taken as a new idea in discount stores. Target distinguished itself from other retail stores by joining many of the best department store’s features like fashion, quality and services with low prices. By the end of 1962, Target opened its additional locations in St. Louis Park, Crystal and Duluth, Minn.

In 1966 Target opened its first stores outside Minnesota in the Denver metro
Studying about the environmental analysis of the country is important as it it helps in analysing, determining the strategies, risk associated in entrering that country, political economical and social well-being of the country. Moreover it also helps in analysing the tastes and preferences of the customers. In Canada, most of the year is cold so demand for warm clothes and warm products will be preferable.
The target corporation needs to work out on the pricing strategy. Pricing policy is an act of the company by which they determines the wholesale and retail prices for its product or services. A good pricing strategy is the one which aims at optimise prices for the products typically including overall marketing objectives, consumer demand, product attributes, competitors pricing and market and economic trends. The Target Corporation needs to look on all these issues as the foremost reason of failure of target was higher prices of products in Canada than America. In order to capture market of Canada, the company can make use of strategic analysis tool i.e. PESTEL. Its meaning is analysing the political, economic, social, technological, environmental and legal environmental factors which affect the growth and establishment of the