Preview

Lowes Companies Inc

Powerful Essays
Open Document
Open Document
10105 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Lowes Companies Inc
KEL563

MOHANBIR SAWHNEY

Lowe’s Companies, Inc.:
Optimizing the Marketing Communications Mix
In early 2009 Lowe’s Companies, Inc., a leading home products retailer, launched an ambitious new project to gain customer mind share in the kitchen remodeling arena. The project, called the next-generation installed sales (NGIS) initiative, was a concerted effort by Lowe’s to expand its service offerings to become an end-to-end solution provider for customers’ kitchen remodeling projects.
Brad Simpson, a marketing manager at Lowe’s, explained that the NGIS would be a very different approach from Lowe’s traditional marketing and sales initiatives:
Through this new approach, we will deliver more than just supplies to the customer. We will deliver kitchen remodeling solutions. Lowe’s will provide free in-home consultations and will work with customers throughout the design, purchase, and installation processes. This is a big shift from our current product-driven approach in the kitchen space. While kitchen remodeling solutions was a promising opportunity for Lowe’s, it also posed difficult marketing challenges for Simpson and his new business development team. In the past,
Lowe’s had mostly relied upon traditional marketing media, such as television ads, flyers, and point-of-sale displays, to promote its offerings. With the move toward an end-to-end servicecentric offering, however, Simpson believed that digital media should play an important role in educating customers about the Lowe’s solution and convincing them of its value. He also believed that digital media and traditional media worked in complementary ways, and that
Lowe’s needed to create an integrated marketing communications plan that would combine traditional as well as emerging marketing communications channels.
Lowe’s needed to determine how to stay top-of-mind for prospective customers during the long incubation period that typically preceded a kitchen remodeling project. Simpson knew that
Lowe’s would have

You May Also Find These Documents Helpful

  • Better Essays

    Lowe’s was originally started in 1921 by Lucius S. Lowe in the town of North Wilkesboro, North Carolina and was called Lowe’s North Wilkesboro Hardware Store. The first version of Lowe’s had a different product mix that also included notions, dry goods, horse tack, snuff, produce, and groceries. This was when it was run by Lucius S. Lowe. The business was inherited by his daughter, Ruth, when Lucius died in 1940. She in turn sold the company to her brother James Lowe. In that same year that Jim bought the store him and Ruth’s husband Carl Buchan served in World War II, during the war Ruth and her mother ran the store. After Carl was injured and honorably discharged in 1943 Jim took him on as a partner.…

    • 925 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    | The Purpose of this project is to increase overall sales by developing new products, increasing productivity and national presence and reducing dependence on equipment suppliers.…

    • 1358 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Kudler Fine Foods

    • 1782 Words
    • 8 Pages

    In any business project there must be a return of investment in regard to the resources committed to its success. One method of measuring the success of this project is the expected increase in revenues. This increase will be measured by the amount of additional customer traffic into each location. In addition, because of the new incentive program there should be an increase in demand for specialty products as well as in home cooking parties. This method of customer interaction will provide crucial information in regard to how the new program is perceived by our customers.…

    • 1782 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Lowes Case Study

    • 2871 Words
    • 12 Pages

    Lowe’s, and other home improvement businesses, serve three types of customers; the Do-It-Yourself customer that is the individual who completes their own projects and installations. The Do-It-For-Me customer, who purchase supplies then hire third parties to complete the installation or project. Finally, there are the professional customers who are the remodeler, general contractor, repairman, small business owner and tradesmen. The slowdown of the market has affected all types if customers in the home improvement markets.…

    • 2871 Words
    • 12 Pages
    Good Essays
  • Satisfactory Essays

    If Lowe’s wishes to stay competitive with Ace’s international market they would have no choice but to enter the Australian market and move forward with the new 150 stores. Ace is known for having a market based on the consumers understanding and approval of their products and services. If Lowes wants to compete they will need to persuade the consumers they care about their understanding and use of the products as well. Having the new stores will spread consumer awareness and offer a better chance at expanding the customer base.…

    • 840 Words
    • 7 Pages
    Satisfactory Essays
  • Best Essays

    The growing trend of home improvement has perpetuated a larger demand for box store home improvement shops such as Home Depot and Lowe’s. There are several types of companies that contribute to the booming renovation industry. Home Depot and Lowe’s provide all the materials and tools necessary to facilitate home renovations.…

    • 4325 Words
    • 18 Pages
    Best Essays
  • Better Essays

    Home Depot progressed into a globally known hardware retailer that has an inventory consisting of up to 40,000 various types of constructing and home improvement materials, supplies, outdoor, lawn and garden equipment, appliances, and more than 250,000 other items that can be acquired through special order online or in store (The Home Depot, 2013). Home Depot offers extensive dedication to developing every source in the creating an operational competitive advantage in addition to managing logistics surrounded by the supply chain. An impenetrable basis surrounded by the symbol of home improvement creates the opportunities impact and generates properties on obtaining policies, strategies and measures, which are recognized in Home Depot’s procurement technique.…

    • 2107 Words
    • 7 Pages
    Better Essays
  • Best Essays

    Lowes in the Marketplace

    • 2539 Words
    • 11 Pages

    Oligopoly is similar to Monopoly however; there are several specific differences. A small number of firms in a marketplace that become mutually independent of each other are an oligopoly. Again, like…

    • 2539 Words
    • 11 Pages
    Best Essays
  • Satisfactory Essays

    Loblaws Companies Ltd.

    • 19032 Words
    • 77 Pages

    have its first store go live in late 2012, with the rollout completed by 2014.…

    • 19032 Words
    • 77 Pages
    Satisfactory Essays
  • Powerful Essays

    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
  • Better Essays

    Having the right man for the right job is imperative for corporate success. The person that installs the cabinetry for ABC Inc. is probably not the same person you want managing the financial responsibilities and obligations. Employees of ABC Complete Kitchens Inc. encompass a similar work ethic, professionalism and accountability however; their skills vary and need to be accommodated suitably within the company. Maintaining this level of expectation is imperative to achieve organizational success. Maturity, health, financial stability and the ability to compensate accordingly to current and long term fiscal challenges is the responsibility of the financial manager and within this organization or for ABC Inc. the Chief Financial Officer (CFO).…

    • 2181 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    Reviewing how the company would approach 2009 Lowe’s analyzed the internal factors that impacted the success of the company (Lowe’s, Inc, 2008.) Lowe’s had to develop a profitable project (Keown, et al.), to create new business and attract sales and new business. The company reviewed the financial statements and inventory. After a review of the product demand for certain merchandise by Lowe’s customers, management developed a method of disposing of the merchandise that was not selling as well as others. The aggressive merchandise markdowns pressured gross margin in the fourth quarter of 2008 (Lowe’s Inc., 2008), but improved the company’s inventory position heading into 2009 (Lowe’s Inc.). The “results were positive and the first quarter 2009 gross margin” indicated a slight recovery (Lowe’s, Inc.)…

    • 1120 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    Deere and Co

    • 1359 Words
    • 6 Pages

    Deere and Company is an American manufacturing company based in Moline, Illinois that was founded by John Deere in 1837. Deere and Company is the world’s leading manufacturer in agricultural machinery and technologies. Deere and Co is one of the United States oldest companies since its birth in 1837. Deere and Co follows a set of core values since their creation. These values include: Integrity, Quality, Commitment, and Innovation. Deere and Co consists of three highly organized business segments. These three segments include: Agriculture and Turf, Construction and Forestry, and Credit. Deere and Co is currently the world leader in agricultural machinery and equipment fabrication. Along with their agricultural related products they also make lawn care machinery. Deere and Co is also the world’s leading manufacturer of forestry equipment. It is also a manufacturer of construction equipment that is distributed in North America. John Deere Credit Company is a leading agricultural finance company in the United States with more than 2.4 million accounts and a twenty three billion dollar portfolio. The current CEO of Deere and Co is Samuel R. Allen who was appointed to that position in 2009.…

    • 1359 Words
    • 6 Pages
    Powerful Essays
  • Best Essays

    Times have changed and needs have changed. Our customers needs have changed. As the economy grows our customers have more options of who to buy from. Our employees have more options as to which companies to work for. We want to be the company consumers want to buy from and the company that people want to work…

    • 2930 Words
    • 12 Pages
    Best Essays
  • Powerful Essays

    National Bank of Canada ("NBC" or "the Bank") is tasked with the decision to review Dawson Lumber Company Limited 's ("Dawson") request for an increase in its line of credit up to the amount of $10.8mm. Dawson intends to finance inventory and receivables with the line of credit. NBC must remain cognizant of the competitive landscape of the lumber industry and assess whether a focus on the retail segment is beneficial to Dawson 's strategic plan. Given that Dawson is one of the region 's largest borrowers, NBC must be careful in how it manages this relationship. The Bank cannot afford to turn away NBC 's business. However, extending Dawson additional credit may increase Dawson 's default risk and jeopardize the potential for NBC to retrieve the $4.2mm term loan it is already owed.…

    • 1560 Words
    • 7 Pages
    Powerful Essays