Marketing Management Report: Target Australia's Strategies

This report provides an analysis of Target Australia's marketing management. It begins by outlining the company's corporate objectives, which center around maximizing profits and achieving sustainable development within the Australian retail industry. The report then explores Target Australia's market orientation, identifying it as primarily following societal and marketing concepts, focusing on customer needs and societal well-being. The core of the report examines Target Australia's marketing strategy, emphasizing its focus on offering quality fashion products at affordable prices. The report highlights the strengths of this strategy, such as attracting a large customer base and building a strong brand image, while also acknowledging weaknesses like potential impact on revenue and limited market presence. The report concludes that Target Australia's current marketing strategy is well-aligned with its corporate objectives, supporting customer attraction, retention, revenue generation, and sustainable competitive advantage. References from academic sources like Goworek and McGoldrick are included to support the analysis.

Running Head: MARKETING MANAGEMENT1
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Table of Contents
Corporate Objectives...................................................................................................................................3
Market Orientation Concept.......................................................................................................................3
Marketing Strategy......................................................................................................................................4
References...................................................................................................................................................5

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Corporate Objectives
Corporate objectives are the realistic and well-defined goals which are set by an organization that
generally affect its strategic decisions. The corporate objectives used by the organization will
state the time frame expected for their attainment1. Each and every company has its specific
goals and objectives which it plans to attain when they are in operations. Target Australia is a
leading organization that is engaged in operating its mid-priced departmental store and it is
owned by Wesfarmers. It is one of the largest departmental stores in Australia by the number of
stores and running 302 stores all over the country. It offers the products such as cosmetics,
branded clothing, consumer electronics, homewares and electronics.
It is an iconic retailer in Australia that is working for the objective of making style, fashion and
quality very affordable for entire family. The corporate objective of Target Australia is to
maximize its profits while managing a long-term sustainable development in Australian retail
industry. In order to attain this objective, the website of Target Australia states that company is
continuously planning to expand its stores in major Australian cities and providing fashion and
quality at best prices2. It assists different societies and meets its responsibilities and duties
towards its employees, customers and suppliers.
Market Orientation Concept
Helen Goworek and Peter McGoldrick stated that market orientation concept is a business where
the emphasis is on recognizing the demands and needs of customers and fulfilling them. When
any firm has an orientation concept, it emphasizes on producing and selling the products and
services which meet the needs of customers so that it can become more profitable. There are
different types of marketing orientation concepts like selling concept, production concept,
societal marketing concept and marketing concept. Under selling concept, the company believes
1Helen Goworek and Peter J. McGoldrick, Retail marketing management: Principles and
practice. (Pearson Higher Ed. 2015) 25.
2Target Australia., Target Australia: Target Online Shopping, 2018,
<https://www.target.com.au/> [Accessed on 1 December 2018]

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that customers will not purchase enough of the products unless it implements large scale
promotion and selling efforts. Societal marketing concept states that firm’s marketing strategy
should provide the significant value to its customers in such a way which manages and enhances
the well-being of both customers and society3.
Target Australia is the organization that follows societal and marketing orientation concept as it
focuses on the demands and expectations of society. Considering their needs, it is adopting a
lower and mid-priced model for providing best quality products to its targeted customers.
Moreover, the company is engaged in different social responsibility and sustainability activities.
Looking at society’s concern towards environment, Target is striving to become an ethical,
socially responsible and sustainable business. For this, it is making investment in energy
efficiency and decreasing the carbon footprint.
Marketing Strategy
In order to attain its corporate goals and objectives, Target Australia is using effective marketing
strategy. The core marketing strategy of Target Australia is to offer quality fashion products on
most affordable prices so that it can retain the customers for longer time. It is overhauling its
pricing strategies because it makes efforts to win the price wars with other competing brands like
Woolworths, Coles etc. In order to approach a larger population, the company is using both
offline and online modes.
The major strengths of this marketing strategy are that:
 It helps Target Australia in attracting a larger customer base in Australia.
 It can assist the company to expand its business in other nations also.
 This marketing strategy can help the organization in establishing a great brand image
among its targeted customers4.
3Douglas C.West, John Ford and Essam Ibrahim, Strategic marketing: creating competitive
advantage. (Oxford University Press 2015) 45.
4Muhammad T. Khan, The concept of'marketing mix'and its elements (a conceptual review
paper). (2014) International journal of information, business and management, 6(2), p.95.

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Apart from strengths, the major weaknesses of this marketing strategy are:
 Its lower priced strategy can affect the overall revenues and profits of organization.
 It has limited target market and brand presence in the country.
The current marketing strategy of Target Australia will assist Target Australia in order to attain
its corporate objectives. It will help the organization to attract new customers and retain existing
customers as its pricing policy is better than other competing brands in Australia. Eventually, it
will support the company to generate more revenues and profits and attain sustainable
competitive advantage.

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References
Goworek, H. and McGoldrick, P. Retail marketing management: Principles and practice. UK:
(Pearson Higher Ed. 2015).
Khan, M.T. The concept of'marketing mix'and its elements (a conceptual review paper). (2014)
International journal of information, business and management, 6(2), p.95.
Target Australia., Target Australia: Target Online Shopping, 2018,
<https://www.target.com.au/> accessed 1 December 2018.
West, D. C., Ford, J., and Ibrahim, E., Strategic marketing: creating competitive advantage.
(Oxford University Press 2015).