INTRODUCTION Since 1962 and the inception of the discount retailer market Wal-Mart has been at the forefront of the retail game. In 1967 there were 24 Wal-Marts grossing $12.6 million. In just 7 years Wal-Mart had spread to 9 states. In 1979, Wal-Mart was the fastest store to reach $1 billion in sales. In 2005, Wal-Mart had 3,800 stores domestically and 3,800 stores internationally and had earned more than $312 billion. As you can see, the Wal-Mart empire has grown tremendously. Entering this market segment would have been difficult. The first Target store also opened in 1962. It was started under the Dayton Hudson Corporation. As you can see, the Target company also has a decorated past. Target now has 1,300 stores in 47 states. The number of stores itself is still much smaller than Wal-Mart's. For every Target store, there are three Wal-Marts. To put together an action plan we must first research many aspects of the Wal-Mart company such as: marketing, products and services provided. From these key areas we will be able to put together a plan for immediate implementation. Products/Services/Marketing The first area to look at is the products Wal-Mart sells versus Target. Wal-Mart offers products in the following areas: apparel, baby, books, electronics, garden and patio, gifts and flowers, home, jewelry, pets, sports, toys, video games, automobiles, as well as groceries and cleaning products. In addition to being the world's largest retailer, Wal-Mart is also the world's largest grocer. A full-service food center has been added to many Wal-Marts nationwide. Wal-Mart's most current goal is to become a player in the organic food market. Add organic foods to…half of the card…and many not covered by health insurance. In recent visits to both stores I noticed that the Target store was cleaner and the customer service was better than Wal-Mart's. Summary After examining Wal-Mart's business practices, marketing, products and services, I no longer have any doubt that we can compete with Wal-Mart, but the new question is: do we want to? For Target to be a competitor to Wal-Mart, Target would have to lower its store standards, employee treatment, and target market. Along with these things, Target should also go against one of its store standards and start purchasing products made using slave and/or child labor. Some ways Target could improve by imitation would be through increased in-store amenities. The recent addition of the in-store clinic is a new and innovative idea a step ahead of Wal-Mart.
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