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This week you will continue your comprehensive marketing plan, researching the SAME company (Target Corporation) that you researched in previous units. Again, you will research the various elements of the marketing plan as it relates to this company.
You will conduct an Industry Analysis and a Competitive Analysis.
Industry Analysis- Perform an industry analysis detailing how the overall industry is performing . Research trends in the industry as well as projections for the future. Remember to cite your research.
Competitive Analysis- Perform a competitive analysis reviewing multiple competitors that offer similar products/services. How is your company different from its competitors? Think about the products/services offered or their pricing strategy or even their distribution strategy. What is the overall brand perception in the mind of the consumer? How does each rank based upon a pertinent parameter?
Your submission should be a minimum of two pages in length , double - spaced with a reference page and title page. References should include at least 3 credible reference. All sources used must be referenced; paraphrased and quoted material must have accompanying citations and cited per APA guidelines. Include the use of subheadings (this week consider using Industry Analysis and Competitive Analysis)
Marketing Plan Paper
Length: 6 pages (1200 Words)
Target Corporation has registered a positive trend in its financial performance in the previous four years. The company’s revenue improved from $68, 466 million in 2012 to $71, 960 million in the year 2013 (Bloomberg, 2015). The revenue then registered s slight drop from $71, 960 million in 2013 to $71, 279 million in 2014 (Bloomberg, 2015). The revenues then registered a rise to $72, 618 million. The company’s total revenue increased from $69, 865 in 2012 to $73, 301 million in 2013. The total revenue then registered a fall to $71, 279 in 2014 before recording a rise to $ 72, 618 million in 201 (Bloomberg, 2015)5.
The company’s cost of goods sold rose from $ 47, 660 million in the year 2012 to $ 50, 568 million in the year 2013. The sales then fell to $50, 039 million in the year 2014 (Bloomberg, 2015). The cost of sales then rose to $ 51, 278 million. The company’s gross profit increased from $ 21, 559 million in 2012 to $22, 427 million in 2013 (Bloomberg, 2015). The gross profit then fell to $ 21, 631 million. The company then recorded a rise in the cost of the goods sold to $ 51, 278 million.