Branding, Pricing, and Distribution: Home Depot

1559 WordsJun 18, 20187 Pages
Once Home Depot’s marketing plan contains a thorough description of the scissor lift, it will then focus on the branding, pricing, and distribution of the lift. The plan will also need to include a product branding and pricing strategy, as well as examine how the pricing strategy supports the branding strategy. In addition, Home Depot will prepare a distribution channel analysis from which it will create a distribution strategy, determine whether the company is going to use a push or a pull strategy, and how the distribution strategy fits the product. Branding Strategy A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing…show more content…
It will also discuss the in-house purchase of several lifts for rental purposes, thereby creating another revenue source. Reach the Top® can also set up its own rental plan. Close, meaningful collaboration and communication between Reach the Top and Home Depot are the key ingredients to developing a win/win pricing strategy for both companies. An effective pricing strategy, especially one which delivers both profit and affordability, will in turn support and complement the branding strategy. The ultimate goal being when the consumer needs a ladder, scissor lift, or scaffolding, an immediate identification is made with the sky-blue products of Reach the Top known for their high-quality, affordability, and are also available at Home Depot. Distribution Channel Analysis and Distribution Strategy Another component of an effective marketing plan is a distribution channel analysis. The path a product or service takes to reach the end consumer is referred to as a distribution channel, which can include wholesalers, retailers, distributors and the internet (Distribution Channel, 2013). A distribution channel analysis aids in the creation of a distribution strategy which will convey the company’s plan regarding the distribution of its products, determining whether to use a push or a pull strategy, and how that strategy fits the product, the target market, and overall marketing

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