Lowe's Executive Summary

1782 Words Feb 22nd, 2016 8 Pages
Lowe’s Home Improvement Executive Summary
Lowe’s Home Improvement Executive Summary

B&B Consulting
Nicholas Baziuk
Shannon Browne
3/3/2016
B&B Consulting
Nicholas Baziuk
Shannon Browne
3/3/2016

To: Board of Directors of Lowe’s Home Improvement
From: B&B Consulting
Subject: Executive Summary

B&B Consulting Services was requested to evaluate, assess, analyze and make recommendations to Lowe’s Home Improvement in the areas of strategy for growth improvement. The following information will give Lowe’s a better understanding of its company and what improvements can be made in the short-term and long-term.

Current Strategy

Lowe’s current strategy is to differentiate itself through better customer service. Lowe’s other focus
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Lowe’s is continuously being threatened by Home Depot in losing market shares. It is a constant battle; Lowe’s and Home Depot are expanding substantially in attempts to take over territory claimed by the other as well as unclaimed territory. The biggest weakness for Lowe’s is its lack of customer service. Customers are leaving Lowe’s in search of credible, knowledgeable service which is found at Home Depot.

Opportunities * Expansion * Online Retail * Mobile Application * Improve Customer Experience

Lowe’s has entered into the Canadian and Australian market in attempts to gain unclaimed market shares. It has not gained enough traction in the Australian market but has done well in Canada. Lowe’s should focus more on expansion in Canada because of the strong need for Home Improvement stores. Lowe’s has the opportunity to gain more market share by developing a mobile application that allows users to view all items offered and what deals are taking place. Customer service is a top priority in any retail industry, Lowe’s needs to improve this dramatically. Lowe’s needs knowledgeable, friendly-staff that go beyond just showing a customer where a product is in the store. By doing so, Lowe’s will retain more customers and its competitors will lose shares of the market.

Threats * Competitors * Rising Labor/Health Cost

If

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