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Home Depot Retailing Strategy

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by

Catherine Brewer

on 29 November 2012

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Transcript of Home Depot Retailing Strategy

Retail Strategy Competitive Advantage Home Depot was founded in 1978
Its first 2 stores opened in June '79 in Atlanta
Fastest growing retailer in the US History Trading Area Target Market: Why This Location? Store Location By:
John LaFon
Geovonnie Louissaint
Catherine Brewer
Marco Restrepo
Charlie Murphy Retail Strategy Target Market
Merchandise Assortment
Human Resources
Store Location
Pricing
Communication Mix
Store Layout
Customer Service & Loyalty Merchandise Assortment: Human Resources: Pricing EDLP Policy
Price Matching + 10%
Rebates
Use of competitor coupons
Cost Oriented (consistency to EDLP's)
Localized Markdowns Communication Mix Store Layout: Customer Service and Loyalty Services: Credit, Installations,Truck and Tool Rental, Shipping and Workshops Customer Complaints: The Home Depot Customer Support Line 1-800-Home Depot
Email
Live Chat Mystery Shoppers Empowered & Knowledgeable Associates Customer Service and Loyalty: Relationships
Associates: The Expertise and Reputation What Home Depot Carries Large appliances( refrigerators, ovens, washer and dryers..) to simple and complex maintenance( wall socket mounts, paint, wiring) Exclusive Brands Private Brands BEHR Paint
Chem-Dry
G.E.,Homelike
Martha Stewart Living
Ryobi & RIDGID
Sur La Table
Thomasville
Hampton Bay
The Home Decorators Collection. HDX (A new Home Depot Brand)
Husky (tools)
Workforce
Glacier Bay(Kitchen sinks, faucets, etc.) You will find many Home Depots located near a pet sore, office store, and within a half a mile of a grocery store, or supermarket. A significant portion of Home Depot customers travel in large vehicles in order to carry purchases to their project sight
customers find it difficult to visit a retail location during certain times of the day. So Whats The Price? Our Store David N. Sharpton, Store Manager since '98
Store Opening: April 12, 2006 Mission Statement to provide the highest level of service, the broadest selection of products and the most competitive prices 8 Core Values:
Excellent customer service
Taking care of our people
Giving back
Doing the "right" thing
Creating shareholder value
Respect for all people
Entrepreneurial spirit
Building strong relationships Change? Technology has made business efficient. The Future Extension to the UK
Fuel Centers for loyal customers DIY-ers and Professionals Average Income: $80,000 Ethnicity:
80% Caucasian
15% African American
5% Hispanic/other 1.Primary: 3 miles from store / 114,306 population / $86,476 avg. h.h. income
2.Secondary: 5-miles from store / 282,459 population / $80,449 h.h. income
3.Tertiary: Remainder of northern portion of ITP. Paid:
Television commercials
radio advertisements
in store flyers
catalogs
mobile app
guides Unpaid:
viral videos,
blogs
social networking Cooperative Advertising:
Red Cross
Gift in Kind International
several professional and collegiate sport associations. Sales and Promotion:
Exclusive Brand Deals
Weekly Store Deals
Free Workshops Training:
The Home Depot offers a series of courses for New Employees
A. Home Depot Vision and Mission
B. Department Purpose Statements
C. Human Resource Policies
D. Employee Benefits
Current Employees are offered lead training courses throughout the life of their employment. Wages:
Store Associate--$10-11/hr based on experience (without strategic training class), $12-15 (with strategic training class)
Cashier--$9.50+/hr (1st 90 days,) $10+ (After 90 days)
Wages can be increased based on completed courses
Managment wages vary based on experience and education Outsourcing:
Home Depot outsources Human Resources and Customer Support . Cross Selling:
Home Depot uses Cross Selling to maximize profits and reach different target audiences Effective and Consistent Grid Layout Home Depot is the nation’s largest big box store and boasts warehouse-style buildings averaging 105,000 ft² Present idea-oriented presentation to customers that lack the creativity to envision a certain project idea. Display lawn and garden tools
at entrance Customer Service and Associates is focused aroud Home Depot's 8 core value.
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