as become easy for the customers to become aware of the product details including its availability at competitive prices which has precipitated the need to develop a whole new perspective for a new marketing technique.
Lowe and Home Depot, both deal into the various aspect of home décor and accessories meeting all their customers’ home improvement requirements. But the major factor that impacts their sales is the subtle differentiation in the segmented market. While Lowe is more focused towards the needs of its women clients with its accessories for finishing touches on the decorating projects, Home Depot, with its wide varieties of ‘do it yourself’ products caters more to men, contractors and serious DIY customers.
Home Depot has a better competitive image primarily because it has wider customer base and more branches spread across region than Lowe. In the current environment of recessive trends and highly competitive business compulsions, it has also realized the need to expand its product line to target extended market segmentation. Indeed, today the markets have been designed to cater to the system as a whole rather than exclusively to the customer. The need has risen so as to accommodate the growing demand from the new market segment that has come up with the advent of new technologies. The inter-dependence of the various elements within the system with its inherent capacity to complement each other has helped establish a market that is sustainable as well as mutually satisfying.
While the segmentation helps to create a niche in the market. The mixed segmentation is hugely popular in the contemporary times and gives a big leverage to the companies to plan its market strategy in a more flexible manner and successfully introduce their products in a new market. Customer satisfaction through creative inputs and introduction of people-centric policies and plans that would meet the challenges of the changing social patterns and its changing demands, have ...
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(Lowe's Vs. Home Depot Essay Example | Topics and Well Written Essays - 500 Words)
“Lowe's Vs. Home Depot Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/miscellaneous/407130-lowes-vs-home-depot.
Both the stores play a very vital role of providing service to their customers, in the home improvement market. Since the recession has hindered their plans to expand the current existing stores, they feel that the best way to increase the sales is by the improvement of customer loyalty, which currently does not exist for both the stores.
4 3. Discuss whether Lowe's should have distinct merchandising strategies for men and women shoppers. 5 4. Explain the criteria that Lowe's should use in selecting new suppliers. 5 References 7 1. Discuss the preferences of both men and women regarding shopping at Lowe's as compared to Home Depot Preferences of male and female customers have always been different regarding shopping.
One of the major barriers in the home furnishing and decorating industry is the high capital requirement. The initial cost required to start a business is too high for the new entrants to afford (Harrison and John). Therefore, it is essential for the company in the industry to operate with contracts to establish credit with a financial institution in the long run.
Lowe's was not only customer friendly but also appealed to women as well as men. It was easy to find what one was looking for and the customer service was quite good. This paper will discuss how Home Depot approached the inevitable culture change that had to occur to compete.
In a survey performed to US shoppers revealed that 53% of the corresponded preferred Lowe’s compared to 47% of the correspondents liked Home Depot better. The people that preferred Lowe’s claimed the store has better product
There is evidence that customers may prefer one or the other, but they do use both stores, and so their loyalty is not fixed either way. This proves that there is overlap in the appeal of the two stores, and makes them obvious competitors to
ome improvement and appliance stores Lowe’s have also come under such economic conditions, which discouraged consumers from maintaining and improving their homes and thus negatively influence the activities of both companies. It has been determined that about twenty- five
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