Target 2008 Annual Report Download - page 10

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Our constant innovation makes us a fun, exciting place to shop.
With a consistent focus on innovation across the company,
we have created a shopping experience that differentiates us
from the competition. Our innovations are the result of our vast
guest research, competitive analysis and careful consideration
of financial and strategic implications, which result in balanced,
thoughtful risk-taking.
Insightful Solutions
Our guests are savvy shoppers who want the latest trends
and great value. To meet their expectations, we scout the
globe to research the upcoming trends. Through disciplined
analysis of this research, we leverage our insight to develop
assortments that are new, fresh and affordable. Because we
have such a deep understanding of our guests’ needs, we are
focused on creating solutions for their lives through innovative,
functional and solution-oriented merchandise. For example,
in 2008, we launched a first-of-its-kind, reclosable cereal
box for Archer Farms. With an easy-to-peel seal and hinged
plastic canister to guarantee freshness longer, we improved
on a breakfast standard.
Target’s comprehensive negotiations strategy is key to
our ability to deliver the latest trends at great prices. Our
balance of competitive and collaborative negotiation tools
and systems enables us to foster communication and improve
partnerships with our vendors. Through this approach, we have
developed innovative assortments and increased profitability
while maintaining low prices for our guests.
While our innovative marketing has created the brand
guests know and love, we are refining our message to guests
to ensure they know that Target delivers great prices on the
kinds of assortments they associate with the Target brand.
We continue to communicate this message and generate
buzz in our uniquely Target way as exemplified by our four
temporary Bullseye Bodega stores during New York’s Fashion
Week. This event showcased exclusive collections from our 22
designers and emphasized their incredible value, resulting in
significant media buzz and guest excitement. In 2009, we will
continue to take a balanced approach with our marketing by
promoting value, driving traffic to our stores and communicating
differentiation, ensuring we are relevant to our guests’ lives.
Innovation & Discipline
8