Home Depot's Marketing Strategies

Lowe's is one of the biggest big box retailers in the world today. As a result, the company faces competition from various companies, both directly and indirectly. Two of Lowes’ biggest direct competitors include Home Depot and Wolseley PLC, both of which carry similar products in the home improvement category. Each of these retailer On the other hand, an indirect competitor of Lowe’s is any small construction/repair company. These smaller repair companies are classified as indirect competitors because Lowe’s is known as a retailer for “do-it-yourself” home improvement projects. If a repair company is hired to complete a service, Lowe’s is facing indirect competition.

Lowe’s (LOW) and Home Depot (HD) are competitors in the every growing market of Home Improvement. The following analysis of each company will examine the home improvement industry, the individual companies, their operating philosophies, their financial strengths or weaknesses, and a final conclusion on which company would be a better long-term investment.

Home Depot compiles advertising, antitrust and confidentiality in policy of Compliance with Laws, Regulations, Policies, and Standard Operating Procedures. Advertising is to be provided to consumers with accurate, fair, and lawful information that is intended to help them make informed decisions. Antitrust laws in the United States and other countries are intended to preserve a free and competitive market place. Confidentiality is extremely important, as internal information is not to be shared with any outside venders, competition, or family members. This is to provide a guide for employees’, as Home Depot seeks competitive advantage. (Home Depot Internal, 2008)

The Home Depot was founded in 1978 in Atlanta, Georgia as the first home retail store by Bernie Marcus and Arthur Blank (Home Depot, 2014). To give an extent of mixes to customers the Home Depot affiliation made key item examination. This helped clients who request to complete structure extends on different business ranges the affiliation's innovative stock revolved around internal and outside customers of the relationship for master foremen, free how to focus, do it without any other individual's help assignments, free how to office and childrens' workshops. Home Depot progressed overall and saw as a claim to fame retailer that

Lowe’s is part of an oligopoly type market structure. An oligopoly is a situation in which a particular market is controlled by a small group of firms with at least two firms controlling the market. The main key to behavior in an oligopoly is that companies must take into account what other companies will do. In perfect competition, firms are price-takers and can ignore other firms (Basic Economics, 2009). The home improvement retail stores are an industry that includes Home Depot, Lowe’s, Builders Square, and in other states, Menards.  Smaller companies have to try to compete with them to stay in business.

Marketing Plan: Phase IIntroductionThe Home Depot is a well respected company leading the do-it-yourself home repair market. In the demand for better service, Team A has identified a potential project to augment the services provided to customers. This paper will identify the Home Depot Company and its values; define the proposed project; examine SWOTT analysis for implementing the project, and develop a marketing plan.

Home Depot and Lowe's believe in big warehouse space, an informal atmosphere and low prices. They are able to offer the lower prices to consumers due to their purchasing power. Inventory differs depending on the story type, home centers typically sock more lumber and building supplies, as their biggest customers are contractors. They pay their floor employees minimum wage, and keep overall costs down by keeping them as part time employees.

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.

This paper is the formal Integrated Marketing Plan for The Home Depot- the world’s largest home improvement specialty retailer. This plan will develop a one-year, $20 million campaign aimed at achieving a series of campaign objectives. These objectives will target both men and women ages 25-35, who have a college degree, a permanent job and are either renting a place to live or own their own home. External and Internal research has been conducted to get the best understanding of The Home Depot’s strengths, weaknesses, opportunities, and threats. Understanding these aspects gives further insight into the potential new target market, for which this plan was constructed towards, millennials. This plan with execute how to reach this new target

Home Depot competitors are primarily in the home improvement and hardware retail industry, but also compete in the building materials retail and distribution, consumer electronics and appliances retail, and convenience stores and truck stops sectors. Some of Home Depot’s main competitors include: Lowe’s, True Value, and Ace Hardware. Now, these competitors are the main competition of Home Depot and all three stores carry about 75% if not more of what Home Depot sells. Keep in mind, that there are also smaller companies, often family-owned lumberyards or hardware stores that compete with Home Depot and the other large chain stores. However, Home Depot’s biggest competition is Lowe’s. “Home Depot and Lowe’s are home

A main source of competition for Home Depot would be the fact that some of its rivals have an extensive foot in the door in other countries. Lowe’s has many locations in Canada, Mexico, and the US. This could cause a lot of conflict as Lowe’s could steal a lot of Home Depot’s potential consumers, as it is a very available and widely

Functional-level strategy, managers must devise a plan of action to improve an organization’s departments’ ability to create value. To accomplish, this departmental managers can either (1) lower the costs of creating value so that an organization can attract customers by keeping its prices lower than its competitors to attract customers or (2) find ways to differentiate it from products of other companies. The Home Depot has to stay up to date on market trends and technology changes to stay ahead of Lowe’s. CEO Robert Nardelli and his team revised the store’s policy to help eliminate customer-unfriendly activities such as restocking the shelves during operating hours. When looking at the functional strategies of an organization one must look at marketing, finance, production, purchasing, human resource, and information systems.

For most people, their home is the biggest financial and emotional investment they make. Before computer technology was as advanced as it is today people had to rely on the Yellow pages or the suggestion/advice of strangers, neighbors, friends, and/or family members if they wanted the perfect tool to the job themselves or to find the right contractor to do the job for them. With Home Depot home improvement retailer stores and its website has eliminated the guessing for us. HomeDepot.com gets more than 8 million visitors per week and operates more than 2,200 store locations.

1. TARGET MARKET: As discussed, target market is a group of potential customers in which a company directs its marketing efforts. A company should always anticipate consumers’ needs and work towards fulfilling these needs. It is one thing to identify your “target market” and another to satisfy them. Walmart’s credo is, “save money, live better” this summaries their target market, the lower-middle class and the poorer. (Low income consumers). Walmart is the only retail

In order to achieve sales forecast, IKEA Malaysia has to develop an appropriate marketing strategy so that it can generate sales from the target market for its future. These 7ps of marketing tools are product or service, pricing, place, promotion, people, process and physical evidence.