Failed Retailers

The reason I think Circuit City went under was due to lack of customer service. I have spoken to several others who feel this same way. Whenever I purchased something from them, it seemed as if I had to go find them to assist me & they would not try to sell you on anything. Many people did not like this type of service & why would you go for that when you can go to Best Buy & get great service? I think that this wcial aspects in Circuit City's success.
"Circuit City stores are going out of business, but that doesn't mean its name is going away. Hilco Trading LLC, a Northbrook-based liquidator that took part in closing some Circuit City stores last year, is in negotiations to purchase the electronics retailer's name and operate a Web site under the moniker CircuitCity.com, according to people familiar with the deal."
Another retail company that is in trouble is Borders. "Less than a month after Circuit City said it would close its remaining stores, Borders Group hit record labels with a double-whammy, saying it would slash its music and video inventory and push for significant buying concessions."
As a matter of fact, I went to Borders yesterday. I can see why they would cut back on their inventory because they don't have nearly the amount of customers as Barnes & Noble does. It looked to me that they have already cut back on invetory since the store was so empty & not "cozy" like a Barnes & Noble is--Borders has some tough competion!



Jones, S. (2009, February 13). Circuit City may live on with Web Site: Liquidator Hilco Trading makes bid to buy moniker. Chicago Tribune (IL), Retrieved March 6, 2009, from Newspaper Source database.

Ed Christman. (2009, February). Retail Track. Billboard, 121(8), 11. Retrieved March 6, 2009, from Research Library database. (Document ID: 1653997621).

Target Audiences, VALS

Target audiences help retail stores reach many different types of people. It helps for the retail stores to know what type of customer they have and the types of products this person is likely to buy. With a defined target audience, retail stores can increase their sales while helping their customer find exactly what it is they are looking for.
Just as we did in class on Tuesday, we narrowed our assigned retail store down to a specific group of people. My month, August had Old Navy which we said covers all age groups and all types of consumers. From babies to plus sizes, Old Navy has the marketing strategy to keep you coming back, even if it's just for the basics.
When I took the VALS survey, it was right on with what type of consumer I was. It said I was an experiencer and everything it said about experiencers was exactly me! It was very interesting how it determined that from only a few questions.

The History of my favorite retailer

Target first started out in 1902 when George D. Dayton opened Goodfellows in downtown Minneapolis. In 1918, The Dayton Foundation was created with a $1 million endowment & in 1969, it was renamed The Dayton Hudson Foundation. Finally, in 2000, it was renamed The Target Foundation.
The first Target stored was opened on May 1st, 1962 in Roseville, Minnesota. The trademark Target Bulleye logo was redesigned in 1968 & has remanined the same since then. In 1975, Target became Dayton Hudson Corporation's (their parent company) leading revenue producer. In 1978, The Dayton Hudson Corporation acquired Mervyn's and became the 7th largest United States retailer. In 1990, The Dayton Hudson Corporation acquired Marshall Field's department stores.
The first Super Target opened in 1995 in Omaha, Nebraska. In 2004, Marshall Field's & Mervyn's were sold.

My favorite retailer is Target. Target is always fun to go to & has everything you need! My 5 reasons for LOVING Target are...
1. The GO International Designers. It's always fun to go & see what new designer is designing for Target & it's even more fun to buy the cute stuff! Aside from the GO International stuff, Target always has cute clothes as well.
2. Housewares. Target has really unique housewares that only look expensive. When I get a house, I will probably be decorated in all Target!
3. Pharmacy. I get all my prescriptions filled at Target which I love because that gives me an excuse to go there & look around!
4. Cosmetics, toiletries, etc. Whether you need shampoo, mascara or anything of that nature, Target has it. They have great brands too such as Bumble and Bumble hair products & Sonia Kashuk cosmetics.
5. Groceries. Target also carries food which is very convenient. You really can get all your life necessities at Target!

Aside from each of Target's departments, Each Target store is equally clean & organized. The "Target Team Members" are always very helpful & nice. It's always quiet in there too. I love Target--I don't see how anybody can't love it as much as I do!