Home Depot Swot Analysis Essay
S.W.O.T. Analysis
Strengths
• Home Depot is the world’s largest home retailer. The fourth largest retailer in the U.S. and the fifth largest retailer in the world.
• Home Depot ranks #37 on Forbe’s “ World’s Most Valuable Brands” list.
• Offering the largest selection of home products, Home Depot can cater to three distinct target audiences, do-it-yourselfers, do-it-for-me consumers and professional customers.
• The company has alliances with many exclusive brands giving them a competitive advantage.
• Home Depot is ahead of its competitors such as Lowe’s, True Value Hardware, and Menards inc. financially.
Weaknesses
• Home Depot is a large big box retailer, which makes it hard to give each customer the personalized attention; they would receive at a …show more content…
• Improve the Home Depot brand image among target consumers by 25% over the next 12 months.
Strategies
• Target paid media advertising towards women ages 30-40 with traditional media such as, broadcast and print, and align our message with home improvement related programming. The campaign will help build awareness of how-to-clinics for working mothers and their children.
• Enhance the Home Depot online shopping experience with a cleaner interface and easier in-app purchases. Create specific online discounts and incentives, such as free shipping, to increase online sales traffic.
• Aim social media marketing toward the target consumer. We will utilize Pinterest, Facebook, Youtube and Twitter to build strong consumer-brand relationships. Improve our social media efforts with more interactivity through responses to consumers, contests, and fun activities.
• Outsource a marketing company to develop surveys on each receipt to measure customer satisfaction. Customers who fill out the surveys will receive cash, gift cards or in store incentives.
• Utilize direct marketing of how-to-clinic events to drive weekend in-store
Strengths
• Home Depot is the world’s largest home retailer. The fourth largest retailer in the U.S. and the fifth largest retailer in the world.
• Home Depot ranks #37 on Forbe’s “ World’s Most Valuable Brands” list.
• Offering the largest selection of home products, Home Depot can cater to three distinct target audiences, do-it-yourselfers, do-it-for-me consumers and professional customers.
• The company has alliances with many exclusive brands giving them a competitive advantage.
• Home Depot is ahead of its competitors such as Lowe’s, True Value Hardware, and Menards inc. financially.
Weaknesses
• Home Depot is a large big box retailer, which makes it hard to give each customer the personalized attention; they would receive at a …show more content…
• Improve the Home Depot brand image among target consumers by 25% over the next 12 months.
Strategies
• Target paid media advertising towards women ages 30-40 with traditional media such as, broadcast and print, and align our message with home improvement related programming. The campaign will help build awareness of how-to-clinics for working mothers and their children.
• Enhance the Home Depot online shopping experience with a cleaner interface and easier in-app purchases. Create specific online discounts and incentives, such as free shipping, to increase online sales traffic.
• Aim social media marketing toward the target consumer. We will utilize Pinterest, Facebook, Youtube and Twitter to build strong consumer-brand relationships. Improve our social media efforts with more interactivity through responses to consumers, contests, and fun activities.
• Outsource a marketing company to develop surveys on each receipt to measure customer satisfaction. Customers who fill out the surveys will receive cash, gift cards or in store incentives.
• Utilize direct marketing of how-to-clinic events to drive weekend in-store