Menards E-Business Plan
Fundamentals of e-Business
Menards e-Business Plan
Company Description Menards is a chain of home improvement stores in the Midwestern United States. Menards sells building materials, hardware, electrical, wall coverings, plumbing, housewares, floor coverings, cabinets, appliances and much more. Menards is a privately held franchise headquartered in Eau Claire, Wisconsin; the company has 252 stores in 12 states: Ohio, Michigan, Indiana, Illinois, Wisconsin, Minnesota, Iowa, Missouri, Nebraska, South Dakota, North Dakota and Wyoming. While the company does not release sales figures, it is believed to be the third largest home center chain in the United States behind The Home Depot and Lowe's. The trade publication Home Channel News estimated 2007 sales at $8 billion. (www.wikipedia.org)
E-Business Models
Menards will use a e-business model as B2C and B2B e-tailer. Revenue will primarily be generated by using the sales revenue model by selling goods and services to our customers. We will also be adding the advertising model to our website charging fees to advertisers. We will also advertise on other sites such as Yahoo, HGTV and Facebook in order to bring more traffic to our site.
Marketing Plan
Target audience analysis Since the slogan “save big money at Menards” has not changed. The target audience has been lower to mid income home owners and contractors. People who like to do home improvement jobs themselves. Their ages ranges from about 35-50+ and are both men and women. (http://www.quantcast.com/menards.com/demographics) Menards targets both the business and consumer sectors. While many contractor businesses use us because of our low prices we still have local customers that have been loyal to us from the start. (Carlo,2005) Customers like our current brands and we should keep adding new brands as our customers ask for them. To attract customers to our products and services we will maintain a great customer relationship by being there for our
Menards e-Business Plan
Company Description Menards is a chain of home improvement stores in the Midwestern United States. Menards sells building materials, hardware, electrical, wall coverings, plumbing, housewares, floor coverings, cabinets, appliances and much more. Menards is a privately held franchise headquartered in Eau Claire, Wisconsin; the company has 252 stores in 12 states: Ohio, Michigan, Indiana, Illinois, Wisconsin, Minnesota, Iowa, Missouri, Nebraska, South Dakota, North Dakota and Wyoming. While the company does not release sales figures, it is believed to be the third largest home center chain in the United States behind The Home Depot and Lowe's. The trade publication Home Channel News estimated 2007 sales at $8 billion. (www.wikipedia.org)
E-Business Models
Menards will use a e-business model as B2C and B2B e-tailer. Revenue will primarily be generated by using the sales revenue model by selling goods and services to our customers. We will also be adding the advertising model to our website charging fees to advertisers. We will also advertise on other sites such as Yahoo, HGTV and Facebook in order to bring more traffic to our site.
Marketing Plan
Target audience analysis Since the slogan “save big money at Menards” has not changed. The target audience has been lower to mid income home owners and contractors. People who like to do home improvement jobs themselves. Their ages ranges from about 35-50+ and are both men and women. (http://www.quantcast.com/menards.com/demographics) Menards targets both the business and consumer sectors. While many contractor businesses use us because of our low prices we still have local customers that have been loyal to us from the start. (Carlo,2005) Customers like our current brands and we should keep adding new brands as our customers ask for them. To attract customers to our products and services we will maintain a great customer relationship by being there for our
References: Carlo, Andrew. (2005, May). Stepping up, Menards goes metro in a big way. DSN Retailing Today, 44(9), 12. Retrieved May 24, 2010, from ABI/INFORM Global. (Document ID: 845091711 N.A Ellis, Blake (2010, Feburary). Retail Sales Get a Boost OInline. CNN Mone. Retrieved May 24, 2010 from: http://money.cnn.com/2010/02/12/news/economy/retail_sales/ Howell, Debbie. (2004, February) "Menard, Inc." International Directory of Company Histories. 2000. Retrieved May 24, 2010 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-2843800075.html Menards Laudon, K. & Traver, C. (2010) Online content and media. E commerce. Busines. technology. society (p. 780) New Jersey: Prentice Hall Menards Digimind.(n.d.) Digimind Company markets competitive intelligence solutions to exploit the explosion of digital information. Retrieved June 6, 2010, from http://www.digimind.com/company/about-us Malone, Robert