Preview

Home Depot's Marketing Strategy

Good Essays
Open Document
Open Document
386 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Home Depot's Marketing Strategy
Data is assuming an increasingly central role within organizations, as marketers aim to harness data to build and maintain customer relationships (Wedel, Kannan, 2016). Further, Home Depot marketing combination identifies the company’s strategies for accomplishing its market positioning goals while ensuring competitiveness against other home improvement retailers. Consequently, Home Depot has been successful through the integration of its marketing functional strategy. In order to maintain the largest market share, Home Depot’s marketing mix includes the four Ps: product, place, promotion, and prices (Rowland, 2017).
The product mix pertains to the organizational outputs offered to target consumers, Home Depot products are as follows:
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Home Depot - Executive Summary
    • 797 Words
    • 3 Pages

    Home Depot - Executive Summary

    The Home Depot (Ticker: HD) is the world’s largest home-improvement retailer along with being an American Fortune 50 company. The company operates 2,259 retail building supply/home improvement “warehouse” type stores all across the United States, Canada and Mexico. The Home Depot has over 340,000 team members and is based in Atlanta, Georgia. The average store size is just over 100,000 square feet along with an additional 24,000 square feet set aside for seasonal gardening.…

    • 797 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Compare And Contrast Home Depot Vs Lowes
    • 556 Words
    • 3 Pages

    Compare And Contrast Home Depot Vs Lowes

    An industry of competition, and tight margins The Home Depot and Lowes Company are still at the tip of their game. Both of these companies stand now as the industry standard for the home improvement sector. Both companies have extremely strong financial positions and a long future in the home improvement industry. Competition is good for the retailer, but even better for the customer. Each company has its strengths and limitations. The Home Leader –vs- Improving Home Improvements.…

    • 556 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    An Analysis of Home Depot and Lowes
    • 5515 Words
    • 23 Pages

    An Analysis of Home Depot and Lowes

    Companies’ Solvency, Liquidity, And Profitability Based On Current Ratio, Return On Sales, Earnings Per Share (EPS), Debt Ratio, And Price Earnings Ratio, Compared With Industry Standards…

    • 5515 Words
    • 23 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Home Depot V/S Lowe's Competitive Analysis
    • 2556 Words
    • 11 Pages

    Home Depot V/S Lowe's Competitive Analysis

    This paper gives the reader an insight into how a manager in a competitive industry in a two-firm constant sum game makes decisions. The writer will be playing the role of a Home Depot, Inc. manager, and the major competitor is Lowe’s, Inc. Home Depot is the largest United States (U.S.) home-improvement retailer while Lowe’s is the second-largest U.S. home-improvement retailer. This is significant because what one company does affects the other. To compare the two companies their company profiles were reviewed. The latest news headlines on both companies were also used in the formation of this paper. There is a reason that Home Depot is number one in this industry. Top managers, excellent products and a strong business plan to name a few, but Lowe’s is not that far behind them.…

    • 2556 Words
    • 11 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Home Depot Mission Statement
    • 4262 Words
    • 18 Pages

    Home Depot Mission Statement

    “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.” The above sentence is the mission statement of The Home Depot. The mission statement itself reveals what kind of standard The Home Depot is looking for. The Home Depot Incorporation was established on 22nd June, 1978 by Bernie Marcus and Arthur Blank. Home Depot is the world’s biggest home improvement retailer with 2242 retail stores in the United States and other countries across the globe. According to the article in Reuters, The Home Depot Inc. stands on the fourth largest retailer in the United States and fifth in the world. Since…

    • 4262 Words
    • 18 Pages
    Powerful Essays
    Read More
  • Good Essays

    Mkt/421 Marketing Mix
    • 1459 Words
    • 6 Pages

    Mkt/421 Marketing Mix

    Manktelow, J. and Carlson, A.; 2013; The Marketing Mix and 4 P’s; Retrieved June 4th, 2013…

    • 1459 Words
    • 6 Pages
    Good Essays
    Read More
  • Good Essays

    Proctor and Gamble
    • 831 Words
    • 4 Pages

    Proctor and Gamble

    This paper will describe the four elements of the marketing mix (product, place, price, promotion). In addition, it will describe how each element is implemented within a specific organization and how the four elements relate to that organizations marketing strategy. The company used in this example is both a product and service driven company and is in business for profit.…

    • 831 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    What Are Home Depot's Biggest Competitors
    • 151 Words
    • 1 Page

    What Are Home Depot's Biggest Competitors

    Home Depot is known by consumers as one of the world’s largest home improvement companies in the world. Home Depot specializes in what customers need for their homes. Lowes is one of Home Depot biggest competitors. Home Depot competes with companies such as Lowes in order to stay atop of the competitive home improvement competition. Companies such as Lowes try to stay competitive with Home Depot, in order to stay on top of the home improvement industry. Home Depot size creates a low-cost position that offers a controlling competitive position in the market. The company's scale generates significant bargaining power with vendors in terms of products, advertisement and rent, among other things. The company looks at ways to establish the customer…

    • 151 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Good Essays

    Btec Business Level 3 Unit 9 P3
    • 972 Words
    • 4 Pages

    Btec Business Level 3 Unit 9 P3

    • The Marketing Mix 7 Ps: Product – The Product should fit the task consumers want it for, it should work, and it should be what the consumers are expecting to get. Place – The product should…

    • 972 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Home Depot: Marketing Strategy
    • 5712 Words
    • 23 Pages

    Home Depot: Marketing Strategy

    The Home Depot store on 59th St in Manhattan uses its storefront to attract its customers. In his book Why We Buy, Paco Underhill points out “the front of a store has utmost importance in determining who enters.” When it comes to generating traffic, and attracting people to buy, the front of the store has the most pull. To attract people to its store, the Home Depot location took advantage of its bright orange colors against the surrounding bland cement buildings with bright orange balloons as flags. The bright color pop on the East side, drawing peoples eyes and attention towards their store.…

    • 5712 Words
    • 23 Pages
    Powerful Essays
    Read More
  • Best Essays

    Marketing Strategy of Best Buy
    • 1547 Words
    • 7 Pages

    Marketing Strategy of Best Buy

    Consumer behavior is defined in a variety of ways such as “the dynamic interaction of affect and cognition, behavior and environmental events by which human beings conduct the exchange aspects of their lives.” by the American Marketing Association. (2008). In a simpler form, consumer behavior can be explained as the actions of consumers and the different approaches a person may take to decide what to buy and the decision making process. The decision making process can be effected by many factors all related to a person or persons lifestyle. Determining that behavior can be confusing and marketers need to use research techniques to understand the consumer. Understanding the intent to buy, buying process and post purchase issues from a marketing perspective raises many questions and is an in-depth process. “The basic marketing concept hold’s that firms exist to satisfy consumers’ needs.” (2004, Solomon). Once that basic concept is understood, an organization can focus on key goals to achieve a competitive advantage. Marketing strategies are used to gain better understanding of the market, consumers, environment, supply and demand and competition. The behaviors of consumers such as personality, emotions, attitudes, learning style, and perception of the consumer helps companies design their marketing techniques. External influences are also need to be studied and factors such as culture and sub-culture, demographics, social status, and family structure helps understand the decision making process of the consumer’s behavior. For marketing strategy to succeed, the insight to the consumer’s decision-making process is a good starting point.…

    • 1547 Words
    • 7 Pages
    Best Essays
    Read More
  • Best Essays

    Home Depot's Marketing Strategy
    • 3900 Words
    • 16 Pages

    Home Depot's Marketing Strategy

    Fisher, M. (2012) Photos: IDEA customers in China make themselves feel very much at home. The Atlantic. Retrieved from: http://www.theatlantic.com/international/archive/2012/07/photos-ikeas-customers-in-china-make-themselves-very-much-at-home/260417/…

    • 3900 Words
    • 16 Pages
    Best Essays
    Read More
  • Good Essays

    Marketing and Home Depot
    • 376 Words
    • 2 Pages

    Marketing and Home Depot

    1. Acquiring the Chinese home-improvement retailer can help Home Depot spread its distribution and sell the products internationally…

    • 376 Words
    • 2 Pages
    Good Essays
    Read More
  • Better Essays

    Marketing Differences Between B2C and B2B Websites
    • 1510 Words
    • 7 Pages

    Marketing Differences Between B2C and B2B Websites

    Marketing in an electronic-business/commerce (e-business/e-commerce) arena today is truly no different than the ole ‘brick and mortar' business. Business-to-business (B2B) and business-to-consumer (B2C) sites need to have a crafty approach to implement marketing strategies and develop an effective marketing plan to reach the intended (targeted) market. Thus, the mixing or blending of the four Ps (product, place, price, and promotion) in such a way to attain both the business and target market's goals and objectives is the key to success. The correct marketing mix, or blend, will help both a B2B or B2C site develop a successful marketing strategy plus a highly effective marketing plan.…

    • 1510 Words
    • 7 Pages
    Better Essays
    Read More
  • Good Essays

    Marketing and Local Hardware Stores
    • 704 Words
    • 3 Pages

    Marketing and Local Hardware Stores

    Agro Limited was founded in 1998 by Kathy Lewis. Kathy appointed Jon Shantz as COO of Agro Limited. Kathy Lewis was a graduate student in organic chemistry in the well-known laboratory of Dr. Robert Krzyewski at a top research university in Illinois. She then obtained her Ph. D in bio-medical organic chemistry and joined prestigious university in South Texas. University funded her 50,000 for her research laboratory set up which were not very sufficient. So she tried external sources to fund. And finally a persuasion clicked in her mind to open her own company which will convert her patents to the compounds which can be mercantile and the profit can be again spend to research work. And finally she started working on it after getting approved from university administration. Jon Shantz has a business background and a friend of Kathy. He has been a business consultant. He had a good experience in managing start-up companies and developing their business plans. Agro limited deals with the special type of chemical compound named Borono-198 which is was a new fungicide in the market. Borono-198 was combination of boron and chloro group effective for biological activities.Borono-198 had tremendous results against harmful fungus in cash crops, oak trees and fluid tanks. It was available at low prices from all other fungicides from competing companies. 10,000 gallons of fluid requires only 1 gallon of Brono-198 and it will last its effect for 4 to 6 months where-as the nearest competing product Xanon-128 requires 4 gallons of it to clean the same amount of fluid. Also, Brono-198 is one fourth to the prise of Xanon-128.…

    • 704 Words
    • 3 Pages
    Good Essays
    Read More