Target Corporation - Assignment Example

Minneapolis, MN. November 15, 2014 – Target Corporation (NYSE: TGT) today released its strategic plan for the next five years after a security breach that soiled its digital sales business. The company introduces new services to its customers in a bid to increase its business. The measures include enhancing data security, increasing digital sales, expanding free shipping, and adding more products to its product lines.

The company CEO, Brian Cornell says that the company will seek to redeem its reputation as a leading online shopping outlet in the country. However, the business of online shopping continues to experience security challenges due to the increasing sophistication of data theft technologies. The CEO states that the company will invest in data security systems to detect any fraudulent activities in order to implement the new strategies.

Cornell asserts that the business of the company remains stable despite the attacks. The corporation is taking bold actions to ensure data security. The measures include constant monitoring of possible fraudulent activities, advising customers to create stronger passwords, and also to report such criminal attempts to the relevant authorities for further investigations.

“Despite the security breaches last year, the company has recorded an increase in digital sales. This means that our loyal customers have more trust in the company and believe that their data is safe with us. We will maintain our commitment to offering our customers quality services. We will also deploy other value-addition strategies to give customers more value for their money. For example, the company will expand its free shipping to customers during the festive season to increase their trust in the company. We will also continue seeking other sustainable ways of increasing customer satisfaction,” says Cornell.

In 2013, the company experienced a major data breach that exposed the customers’ details. The data breach targeted the credit and debit card details of the customers. The company considers the act as criminal and aimed at reducing the trust in the company.

The CEO explains that the company’s digital sales depend on products offered by the company and how it rewards its loyal customers. The company will increase the products to 35000 to give the customers a wider variety. The festive season will see an increase in designer products such as Toms shoes.

CEO Cornell says, “We face very stiff competition from other online retailers in the country. We, therefore, need more products and an additional level of service differentiation. The company will offer free shipping services for goods purchased this holiday. The free shipping service will come as a means to thank the customers for their continued support.”

The company will have a meeting at 2 p.m. on November 28, 2014, at its headquarters in Minneapolis. The meeting will discuss the company’s strategies in detail. Media credentials to cover the meeting should be sent to prmanager@target.com.

ABOUT TARGET CORPORATION

Target Company is a leading online shopping company in the country. It was established in 1902 in Minnesota by George Dayton. The company is the second largest retailer in the United States. The company ranks at position 36 in the Fortune 500 list. It operates in United States and Canada.