There is much competition between Lowe’s and Home Depot because primarily they are both in the same business of décor and furnishing including furniture and accessories of home and office décor. The increasingly easy access to technology, changing dynamics of society and…
That is one of reasons that statistics show more sale revenue for Home Depot which is more accessible due to more branches!
Lowe’s and Home Depot, being in the same business, have distinctly differentiated market strategy. Lowe’s is more focused to the needs and requirements of women and housewives who are more incline to buy décor accessories and unique products that can make a fashion statement for them. Home Depot, on the other hand, caters to the bulk buyers like contractors and retail customers, men especially, who are seriously into DIY (do it yourself) products.
Home Depot has a better competitive image because they not only have more stores but they have also realized the need to improve on their quality and customer service. They are also thinking of expanding their product line to cater to wider customer base. Lowe’s, on the other hand, is just intending to improve on its customer service which is inadequate in the current scenario of recessive trend and highly competitive business ...
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(Lowe's Vs. Home Depot Essay Example | Topics and Well Written Essays - 250 Words)
“Lowe's Vs. Home Depot Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.net/miscellaneous/407563-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.
Thus, the demands for new and innovative home care products and accessories have become symbols of status and fashion statements. Shultz say that it is the end-users who now control the markets rather than the marketers (Shultz, 2001). It
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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