Home Depot- They Can Build It, and You Can Help

Home Depot’s retail strategy is one of reasons for its fast growth and continued leadership in the home improvement retailer industry. Its focus on speed, efficiency, and quality has made it one of the largest retailers in the world. Home Depot focuses on being a leader in “product authority.” Walmart and Costco are leaders

The Home Depot’s two main customers are at home “do-it-yourselfers” and contractors. The main products and services offered help solve the wants and needs of customers involved with home construction and maintenance,

The Home Depot mission statement reads as follows: “The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products and the most competitive prices. We are a values-driven company and our eight values include the following: excellent customer service, taking care of our people, giving back, doing the “right” things, creating shareholder value, respect for all people, entrepreneurial spirit, and building strong relationships.”

Home Depot is the fastest growing retailer in the U.S. by some accounts. It has a fascinating history of innovation and entrepreneurship. The company had some difficulties in the mid-2000s that some attribute to cultural clashes. However, during this period the company was able to take full advantage of the housing boom. Yet when the bubble burst, Home Depot was forced to claim substantial losses. Despite these loses Home Depot has weathered the storm fairly well and is in prime position to take advantage of an economic recovery; if it ever comes.

The Home Depot knows that they must stay on top of technology and management must be able to organize this function in a way that surpasses the competition, pleases the customers, and keep the employees satisfied.

Home Depot company offer a wide range of merchandise and services, and serve three primary customer groups: do-it-yourself customers, do-it-for-me customers and professional customers. A classic Home Depot store stocks approximately 40,000 to 50,000 product items, including variations in color and size. Major product groups include building materials, lumber plumbing, electrical and kitchen; hardware and seasonal, and paint, flooring and wall coverings. To balance the national brand name products it offers, the Company has formed strategic associations with vendor partners to market products under brand names that are only offered through The Home Depot. “As of fiscal

Thirdly, redefining the market Home Depot is now synonymous with home-improvement, it is done so through great customer service, knowledgeable

Home Depot is the world's largest home improvement retailer operating in 45 states, Canada, Chili and Puerto Rico. Home Depot stores aim to serve both do-it-yourselfers and professional contractors with home improvement superstores carrying between 40,000 and 50,000 different products. Home Depot has also been listed as one of Fortune's most admired specialty retailers for the past six years. In order for companies to succeed in the competitive current marketplace they must consider not only the bottom line and their investors but also their impacts on the community, their employees, and their customers. Home Depot was founded on the idea that treating employees well is an important responsibility. Home Depot believes employees that are

Home Depot is the world’s largest home improvement retailer, placed the fourth-largest retailer in the United States, and the fifth-largest retailer in the world. Part of Home Depot success comes from the slogan “do it yourself”. For example, rebuilding home projects, decorating your house or improving your backyard. The company focuses on customer service, having high trained employees, to be able to share their knowledge. Home Depot has an estimated brand value of $ 23 billion.

One of the differentiating factors of Home Depot was that it incorporated within its members a major aversion to any kind of beauracracy and hierarchy. It was a usual practice at the stores to ignore all kind of paperwork that was sent to them by the headquarters. They undervalued such directives to the extent that they would throw these papers in the waste basket or mark them with “BS” stamp and send it back to the headquarters. They believed that all this was a waste of time of the managers and they had more important things to address to at their stores, the most important of them being : satisfying the

The idea for Home Depot was dreamed up by Bernie Marcus and Arthur Blank in 1978 while seating in a coffee shop (The Home Is Where Our Story Begins, 2016). They wanted to create a superstore that was catered to Do-It-Yourself (DIY) people, providing a large variety of merchandise at decent prices and highly trained staff to help with any questions or concerns (The Home Is Where Our Story Begins, 2016). In 1979, Marcus and Blank opened the first two Home Depot stores in Atlanta where they blew the competition out of the water with 60,000 square-foot warehouses (The Home Is Where Our Story Begins, 2016). Not only did they have more items than any other hardware store, but they had expertly trained floor associates who were in charge of selling and giving advice on how to complete their home projects (The Home Is Where Our Story Begins, 2016). Since those two stores have opened, Home Depot has grown to include over 2,200 stores in three different countries: United States, Canada and Mexico (The Home Is Where Our Story Begins,

1. Home Depot currently has 2,200 stores that are open in the United States (homedepot.com, 2017.) The Home Depot stores are known for offering home improvement materials, construction materials, and other products as well as services. The concept and stores were created in 1978 by Arthur Blank and Bernie Marcus (homedepot.com, 2017.) These two creators had an idea for their store to be a facility where customers could come to find a various array of products and services that cater to the do it yourself group. The intent for their organization also included ideas and concepts that allow for customers to find a source for different installation services and offering different products that are intended for the professionals working in the

1. Low Cost Strategy Home Depot should continue product innovation that aligns their core values of everyday low prices with the increased demand of quality products. These values are the heart of Home Depot and serve as the driving factors of their current success. Investments in R&D to better understand the needs of their target markets can be leveraged to create low cost products if they capitalize on the reliable relationships of the suppliers.

The Company operates retail stores and call centers, and conducts online retail operations. Home Depot is considered a service based business. Home depot depends on people and the client experience and it also targets different markets in general.

A strong foundation for success and growth was already in place in Home Depot under Marcus leadership. The company demonstrated a very strong culture, built on entrepreneurialism and customer service. Abundant promotion opportunities were created due to rapid growth attracting carpenters, plumbers and other building professionals as salespeople. Most of the non-entry-level jobs were filled internally, and from the 400 department heads, just a dozen came from outside the company. Additionally, employee stock