They are also working to gain loyal female customers. Expansion will be the primary focus for growth into the year Home Depot has an opportunity in the global sourcing of their products as their scope and reach becomes global.
The only problem with sub products and services would be the quality of the product and the lack of people to perform the services. They had overwomen participate in workshops the first year, and they received a great deal of positive feedback from participants Walker Sourcing from other countries may significantly grow their gross margin.
Since they are a big store they can buy the top of the line and sell it for less. The marketing Ps include: Sell home improvement products and services to DIY, BIY, and professional customers in huge spacious warehouses that boast a wide variety of products with sales associates that are educated and knowledgeable about home improvement case.
Relative Price of Products.
Important Issues It is important to note that as Home Depot has grown so quickly, it has been able to garner significant concessions in prices from suppliers. The supplies are slow on delivery times witch will also concern the customers. The barriers to entry include the following considerations: They also changed their advertising tagline to reflect their new vision.
They also provide lower prices or they match they price of the competitors to make it more convenient for the customers. Weaknesses Counterbalancing the strengths of Home Depot, it also has a couple of key weaknesses that need to be addressed.
The marketing mix comprised of the four Ps have all been tailored to attract their target markets. This redefinition has opened up the buy-it-yourself and professional customer segments to Home Depot.
Growth has both a blessing and a headache for Home Depot. With Home Depot and Lowes opening a combined stores a year, the industry could reach saturation in the next few years. The company runs warehouse-style stores, and they sell a wide assortment of building supplies, home improvement supplies, gardening and lawn care supplies, as well as services such as dumpster and equipment rental.
As Home Depot continues to expand, the cost of prime real estate will rise as they compete head to head with their main competitor, Lowes. They also instituted communication blackout days; two days a week when stores would receive no corporate messages or emails Mahoney According to ReutersThe Home Depot stores: The Home Depot decided to change their marketing strategy to place a significantly greater emphasis on customer service.
Now for the opportunities, for the economic and demographic areas, these two areas have the greatest opportunities to grow bigger.
As Home Depot and Lowes continue to compete head to head in primary markets and both continue their strategy of market saturation, the awareness of US market saturation becomes a very real possibility.
Their business model is simple. In the average Home Depot carried 35, products. While this is would be expected in most instances.
For the customers they have valuable and helpful services and many stores to help them with there building needs. With a solid foothold in North America, Home Depot will set its sights on other world markets to further expand and spread its business risk across many diverse world markets.
Products varied from well known national brands to propriety Home Depot brands. Specifically the buy-it-yourself customer segment are those consumers that like to pick out the materials being used in their homes, but want a professional to install them.
They regularly post how-to videos on YouTube covering a wide range of projects from plumbing to gardening Gallo In the minds of consumers, Home Depot may be seen as interchangeable with Lowes which would in turn decrease customer loyalty. Also new entrants will be faced with trying to compete head to head with Lowes and the Home Depot or they will be forced to specialize in a certain product category.
The Home Depot name has become synonymous with home improvement.Swot Analysis Of The Home Depot. Print Reference this. Published: 23rd March, Last Edited: 11th May, Disclaimer: This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
You can view samples of our professional work here. The Home Depot, as an established. The Home Depot History The Home Depot was formed in by Bernie Marcus and Arthur Blank in Atlanta, Georgia. Home Depot virtually revolutionized the do-it-yourself home improvement Home / Company Profiles / Analysis of Home Depot.
The Home Depot (Ticker: HD) is the world’s largest home-improvement retailer along with being an American Fortune 50 company. The company operates 2, retail building supply/home improvement “warehouse” type stores all across the United States, Canada and Mexico. Introduction The home improvement sector of the economy is large with two major players in the industry and with many smaller local and regional.
Financial Analysis of The Home Depot & Lowe's Home Improvement Warehouse Jack Branas History and Summary Home Depot, Inc. was founded in /5(6). The Home Depot currently is the number one retailer in the home improvement industry.
Home Depot is operating stores worldwide. All of which are retailers of hardware, lumber, millworks, garden supplies, and appliances.
The Home Depot is currently operating throughout 50 U.S. states, eight /5(15).Download