Home Depot was founded over 40 years ago with two stores, based in Atlanta and has become the U.S. market leader in home improvement supplies and equipment. So far it pulls in $75 billion annually through more than 2,260 North American stores and online sales. In the past, consumers used to shop at small hardware stores and be limited in what they could purchase or even have to wait long periods for out-of-stock or custom-order goods to arrive. Now with Home Depot and other big-competitors, the merchandise selection has expanded to thousands of products to choose from, especially targeting homeowners who like to install their repairs or improvements. Home Depot also targets professional contractors to provide them with the necessary supplies
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Home Depot’s customers consist of professional builders, home do-it-yourself customers, and home “do-it-for-me” customers (Rife). The target market is clearly seen as a wide variety, unlike that which is found in a undifferentiated strategy. But what further separates Home Depot from concentrated strategy is while they primarily advertise their products for local brick and mortar retail stores, Home Depot is branching out to utilizing their online services and smartphone apps as a different method of attracting time-conscious customers who like to order things …show more content…
The only issues that it faces are getting products delivered sooner on time and ensuring good-priced products are readily available. In today’s fast-paced world, there is less and less time for the average worker. With social media and online transactions becoming more commonplace, a customer would take advantage of the convenience to just simply browse and either place an order to have materials delivered or reserve the material in question at the store to pick it up themselves. Sometimes though if the material is not available and won’t be for sometime, the consumer in question will grow impatient and seek the material elsewhere that’s faster to acquire and possibly even be cheaper. The same applies for professional builders who do business with Home Depot; is there isn’t the necessary building supplies ready to pick up or are too expensive for a building contract, the builder him or herself may do business
Home Depot’s customers consist of professional builders, home do-it-yourself customers, and home “do-it-for-me” customers (Rife). The target market is clearly seen as a wide variety, unlike that which is found in a undifferentiated strategy. But what further separates Home Depot from concentrated strategy is while they primarily advertise their products for local brick and mortar retail stores, Home Depot is branching out to utilizing their online services and smartphone apps as a different method of attracting time-conscious customers who like to order things …show more content…
The only issues that it faces are getting products delivered sooner on time and ensuring good-priced products are readily available. In today’s fast-paced world, there is less and less time for the average worker. With social media and online transactions becoming more commonplace, a customer would take advantage of the convenience to just simply browse and either place an order to have materials delivered or reserve the material in question at the store to pick it up themselves. Sometimes though if the material is not available and won’t be for sometime, the consumer in question will grow impatient and seek the material elsewhere that’s faster to acquire and possibly even be cheaper. The same applies for professional builders who do business with Home Depot; is there isn’t the necessary building supplies ready to pick up or are too expensive for a building contract, the builder him or herself may do business