Lowe’s Strategies Week Four Lowe’s has different strategies that alter them from their competitors. Lowe’s focuses on how to advance in their customer service skills, however Lowe’s uses different tactics to choose who they want to go into business with, and how they can be successful, not just in the United States, but also internationally. Lowe’s uses other companies to help broaden their strengths in marketing, operations, technology, and with their customer service. Lowe’s focuses more on customer service, also what products they can sell, and be successful. They want to be the best home improvement store nationally and internationally. Lowe’s has paired up with different home improvement stores to help them learn new tactics to be successful.
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A business that wants to expand growth, sales, leverage, and strengths than related business is a diversification strategy option. Rona home improvement located in Canada and is selling products that Lowe’s offers. Both stores selling the same products will reap the benefits of revenue, profits, and customers. Rona and Lowe’s paired up to help each other. Rona is an international company and Lowe’s wanting to sell internationally, consequently helped them both to broaden their ideas of how to make it work. The Canadians know Rona by the store name, so for Rona to keep their customers there, they decided to not change the name, however Rona has decided to bring in Lowe’s products and their services to Canada. Lowe’s being on online retailer home improvement store has helped the division to grow and sale a large variety of products to anywhere at any time (M. …show more content…
They value their customers no matter if it is one that shops online or on-site. Lowe’s has leverage to compete internationally. They have rare products and they focus on what products are being successful. Lowe’s diversification strategy is related business. Lowe’s and Rona both have strengths that can benefit both companies. Selling products internationally gives both companies advantage to increase revenue and profits. Marketing, operations, technology, and customer service can help fit in with ATG stores, as well as with Lowe’s (Bethel University, 2017).
Reference
Armitage, J. (2015). Strategic Insights. Marketing Insights, 27(1), 22-23.
Bethel University. (2017). Essentials of strategic management: The quest for competitive advantage. (5th ed). Boston, MA: McGraw-Hill.
Investor Relations. (2017, April 03). Retrieved August 17, 2017, from http://phx.corporate-ir.net/phoenix.zhtml?c=95223&p=irol-reportsannual
M. (n.d.). Lowe's supplier diversity. Retrieved August 19, 2017, from https://www.lowes.com/l/supplier-diversity-program.html
Mason, T. (2011, December 29). Never stop improving. Retrieved August 20, 2017, from
A business that wants to expand growth, sales, leverage, and strengths than related business is a diversification strategy option. Rona home improvement located in Canada and is selling products that Lowe’s offers. Both stores selling the same products will reap the benefits of revenue, profits, and customers. Rona and Lowe’s paired up to help each other. Rona is an international company and Lowe’s wanting to sell internationally, consequently helped them both to broaden their ideas of how to make it work. The Canadians know Rona by the store name, so for Rona to keep their customers there, they decided to not change the name, however Rona has decided to bring in Lowe’s products and their services to Canada. Lowe’s being on online retailer home improvement store has helped the division to grow and sale a large variety of products to anywhere at any time (M. …show more content…
They value their customers no matter if it is one that shops online or on-site. Lowe’s has leverage to compete internationally. They have rare products and they focus on what products are being successful. Lowe’s diversification strategy is related business. Lowe’s and Rona both have strengths that can benefit both companies. Selling products internationally gives both companies advantage to increase revenue and profits. Marketing, operations, technology, and customer service can help fit in with ATG stores, as well as with Lowe’s (Bethel University, 2017).
Reference
Armitage, J. (2015). Strategic Insights. Marketing Insights, 27(1), 22-23.
Bethel University. (2017). Essentials of strategic management: The quest for competitive advantage. (5th ed). Boston, MA: McGraw-Hill.
Investor Relations. (2017, April 03). Retrieved August 17, 2017, from http://phx.corporate-ir.net/phoenix.zhtml?c=95223&p=irol-reportsannual
M. (n.d.). Lowe's supplier diversity. Retrieved August 19, 2017, from https://www.lowes.com/l/supplier-diversity-program.html
Mason, T. (2011, December 29). Never stop improving. Retrieved August 20, 2017, from