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Marketing Plan The Home Depot Essay

1973 words - 8 pages

Marketing Plan: Phase IIntroductionThe Home Depot is a well respected company leading the do-it-yourself home repair market. In the demand for better service, Team A has identified a potential project to augment the services provided to customers. This paper will identify the Home Depot Company and its values; define the proposed project; examine SWOTT analysis for implementing the project, and develop a marketing plan.Organizational overviewBeginning in 1978, The Home Depot was founded by Bernie Marcus and Arthur Blank. , the founders' vision of one-stop shopping for the do-it-yourselfer came to fruition with the help of investment banker Ken Langone and merchandising guru Pat Farrah. The first two Home Depot stores opened on June 22, 1979, in Atlanta, Georgia. The first stores were vast warehouses that dwarfed the competition and stocked much more than the average hardware store at that time. The illusion of more products was created by piling empty boxes on the shelves. (The Home Depot, Inc., 2009)Mission Statement - organization's basic values and philosophyThe Home Depot, a leader in the home improvement business, is committed to providing the highest level of service and the widest selection of products at the best price. This commitment is driven by the following 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 (The Home Depot, Inc., 2009)These values will guide The Home Depot to meeting and exceeding the goals of the company. (The Home Depot, Inc., 2009)Geographic locationThe Home Depot is headquartered in Atlanta, Georgia where all operations, purchasing, and upper management maintain and oversee all areas of The Home Depot organization. (The Home Depot, Inc., 2009) The Home Depot stores can be found all over the United States, Canada, Mexico, and China. (The Home Depot, Inc., 2009)Product MixMany ways to satisfy the needs of target customers are possible. Additionally, many ways to help organize all these decisions and to simplify the selection of Products are possible. The product mix of a company consists of both product line and individual products. In a product line exist a group of products within the product mix that are closely related because of the function of the primary product, they are sold to the same customer group, are marketed through the same types of outlets, or fall within the given price ranges. An individual product is a distinct unit within the product line that is distinguished by size, price appearance or some other attribute. For example, all the products The Home Depot is a product mix, products in the lumber isle are the product line; and the type of lumber is the product item. At each of the three levels there are two types of decisions those that involve width (variety) and depth (assortment). Managing a product...

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