Dillards

Topics: Department store, Retailing, Dillard's Pages: 6 (1799 words) Published: April 14, 2014


Dillard’s: The style of your life

Table of Contents

Abstract…………………………………………………………………………………………...3 Introduction……………………………………………………………………………………….4 The Target Market……………………………………………………………………………...…5 Growth Objectives………………………………………………………………………………...6 Competing Stores, Shopping Centers, or Districts………………………………………….…….6 Factors Considered in Site Location………………………………………………………………7 Advertising and Promotion Techniques………………………………………………….………..8 Conclusion……………………………………………………………………………………..….9 Reference Page…………………………………………………………………………………...10

Abstract
The well-known department store Dillard’s began in 1938 in a small town of Arkansas and quickly grew to be a very successful multibillion dollar department store corporation today. William T. Dillard set the stage for how to operate Dillard’s marketing procedures with his philosophies on advertising and pricing. The kind of merchandise he wanted selling in his stores allows the store to maintain a high to middle class target market. The amount of growth Mr. Dillard accomplished while he was alive makes it not as necessary for the company to worry about growth. Even though Dillard’s has a steady list of competing stores, they maintain their customers with the help of the Dillard’s Credit Card and successful advertising.

Dillard’s: The Style of Your Life
Introduction
In 1938, William Dillard opened his first store located in Nashville, Arkansas with $8,000 borrowed from his father. His business strategies consisted of the value of advertising, location, growth with expansions and a strong pricing strategy. His goal was to offer nationally name brands at eye-catching prices accompanied by customer credit. Mr. Dillard wanted a more balanced and structured pricing method so in 1991 he had the last storewide sales event and began a new strategy. This strategy was created to ensure customer loyalty and confidence in Dillard’s stores. In 1964, Dillard’s opened its first store in a shopping mall in Austin, Texas. This decision proved to be a profitable decision in association with its growth strategy. In 1969, he decided to allow the corporation entitled Dillard Department Stores Inc. to go public on the stock exchange for investors on May 9. By the early 1970s, the company had expanded from Arkansas to locations in Louisiana, Missouri, New Mexico, Texas, and Oklahoma. From the success of these businesses and Mr. Dillard’s strong business skills, he was able to purchase many stores and locations between 1948 and 1998. These purchases include: 1948- store in Texarkana

1956- store in Tyler, Texas
1960- store in Tulsa, Oklahoma
1964- two department store chains in Arkansas
1974- five stores from Tandy’s Leonard’s Division
1983- 12 stores located in St. Louis and Kansas City from Stix, Baer, and Fuller 1984- two department store divisions from Dayton Hudson, located in Oklahoma, Arizona, and Nevada 1986- 12 stores in the Midwest from R. H. Macy

1987- 27 stores from Joske’s and three stores from Cain-Sloan 1988- half interest in 12 Higbee Department stores in Ohio
1989- 18 stores in the South from D. H. Holmes Company
1990- 23 stores from J. B. Ivey Chain in North Carolina, South Carolina, and Florida 1991- seven Maison Blanche stores in Northern and Western Florida 1997- 10 Mervyn’s stores in Florida, seven Proffitt’s locations in Virginia, and three Macy’s stores in Houston, Texas 1998- 75 stores from Mercantile Stores Company, Inc. near Cincinnati, Ohio William T. Dillard passed away on February 8, 2002. Still today, in his roughly 300 stores in 29 states, his philosophies on retail methods are still used. The Target Market

Dillard’s has a target market that is parallel to its merchandise. Because Dillard’s sells name brand merchandise which tends to be more on the expensive side, its target market is the upper and middle class families who disposable income can afford it. The variety of merchandise that Dillard’s department stores carries enables these...

References: Dillard 's. Dillard 's Rewards. All about Choice. All about You. Florida: Dillard 's, 2014. Print.
"History of Dillard 's, Inc." Dillards. N.p., n.d. Web. 7 Apr. 2014. http://investor.shareholder.com/dillards/history.cfm
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