The Target Corporation based in Minnesota is looking to follow the lead of Starbucks by changing its trademark bullseye logo that made national television headlines this past Thursday on FOX’s game show, “Million Dollar Money Drop”. They say the logo is going to be change in order to cope with a volatile market and fast changing economy. Just like Starbucks removed the text from their well known logo, Target is going to do away with the bullseye logo from their logo.
Barry Finkelstein, a Target executive, said, “Since we have so many Starbucks in our Target Stores, we only thought it best that we follow suit and change our logo as well.” However, the company has said that their new logo is not going to drastically different from the existing one. They will remove the text and make some minor design changes. The logo change comes at a time when the retail giant is planning expansion across various parts of the world.
The Target officials also said that the corporation has plans to make foray into the markets where Wal-Mart is doing good business and offer it some competition. However, the announcement that Target will also now make and sell guns have not gone down well with a section of buyers, particularly the housewives. The market veterans are divided in their opinion about the logo change. In marketing history logo change has proved to be an unpredictable move. Some companies have been able to improve their share on the market after logo changed while others have faced brickbats from the buyers. The change in the Gap logo did not go down well with the buyers at all forcing the company to revert to the older one.
However, Target has adopted the “less is more approach” with the new logo. It is the trend Starbucks also chose.