Introduction to Marketing
October 18, 2011
HOME DEPOT V. 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.
The Home Depot
The company was founded in 1978 in Atlanta Georgia and has since become the world’s largest home improvement retailer, operating more than 1,500 stores across North America. Home Depot caters to both do-it-yourself and professional customers who serve the home improvement construction and building maintenance market segments. The Home Depot currently operates in sixty U.S. States and in the District of Columbia. Home Depot’s key success factors are excellent management, competitive prices, superior customer service, full range of product and expansive distribution channels. It has also invested and committed to build its web presence and e-commerce strategy to counter the new entries of many home improvement retailers.
Lowes has been helping customers improve the places they call home for more than sixty years. Founded in 1946, Lowes has grown from a small hardware store to the second largest home improvement retailer worldwide. Lowes is a $26 billion dollar retailer with a complete line of home improvement products and equipment. The company serves more than $7 million do-it-yourself products and equipment, operating more than 870 stores in 45 states. Lowes is the world’s second largest home improvement retailer and the 14th largest retailer in the United States. Industry
Due to economic expansion over the 1990’s, the home improvement industry has...