Market segmentation and home depot

To complement the expertise of our associates, The Home Depot stores offer "how-to" clinics taught by associates and merchandise vendors.

Presenting this ad to Floridians, for instance, would be irrelevant, unnecessary, and could even desensitize the audience to future advertisements. Your segmentation will be determined by a match between the benefits offered by your offering and the need of the prospect. The fact that the members of this demographic are childless is significant.

Accessibility To minimize promotion and sales expense you may want to target urban rather than rural or local rather than national prospects.

The brand recognition of these stores may help attract this demographic, but even successful chain retailers such as Best Buy and Home Depot need to develop marketing strategies that speak to the specific needs, interests, and experiences of this consumer group.

Consumer Demographics : Marketing Case Study of Home Depot and Best Buy

View all posts by Tim Friesner Posted on. The garden center area was revised with New table fixture design with larger and brighter wayfinding signage. Need for customization Offerings such as police cars, busses for municipalities and specialized computer systems fall into this category.

Home Depot’s Target Market and Customer Base

For example, the company recently hired a designer to create a new kind of bucket exclusively for the Home Depot. For example, an individual prospect may immediately think of Wal-Mart or Home Depot when considering an offering like yours.

Home Depot’s Marketing Mix (4Ps) Analysis

It is merely intended to be used for educational purposes only. This demographic is accustomed to aggressive and nearly constant marketing Draut,but if their attention is Market segmentation and home depot be captured, it must be appealed to regularly with new marketing and advertising techniques Jaffe, Though it is only their shadows that are visible, the suggestion is that the products of Best Buy are geared to a younger demographic.

Consumers can visit the local store for weekly lessons and demonstrations showing everything from how to install closet organizers to how to tile bathroom floors.

Reach even more specific niche markets by combining different segmentation styles. Some customers like the ability to buy online and pick up their purchases at the nearest Home Depot store, avoiding any shipping delays. To improve merchandising of its chemical products area, Home Depot has employed new wayfinding signage program to brighten aisle and make easier to navigate between product categories.

Additionally, by reaching niche groups of people, marketers can craft messages specifically for them. Very negative to technically complex offerings or offerings requiring extensive user education.

Businesses use large amounts of electricity at predictable times. This is estimated to mean 4, extra hours of customer-service activities for Home Depot.

Access or lack of access to competitive offerings Due to high investment capital requirements or timing of market entry you may be able to capture a significant market share in a specific geographical area.

Product The company sells a wide assortment of building materials, home improvement, lawn and garden products such as patio sets, kitchen, doors, windows, grills, bath, lighting, fans and appliances. The company opened its first super-sized store in Once established as a customer they are seldom inclined to review alternatives.

The better its contractor customers do, the more they can buy from Home Depot. Bridge ran an email marketing campaign where we targeted local geographic females demographic: Looking ahead, Home Depot will continue to use marketing research, segmentation, and targeting to increase its customer base, keep customers loyal, and build sales year after year.

Some of these are: Tim Crow was hired as Executive Vice President of Human Resources and assigned to oversee all aspects of human resource management as well as address customer service issues. This type of customer segmentation is significantly more difficult to implement than geographic or demographic segmentation.

For and somethings who have not yet had children or who do not have plans to have children right away, discretionary income may be spent primarily on themselves, fulfilling immediate needs as well as an ever-increasing list of wants, particularly with respect to electronic goods.

The reason for studying this particular age cohort, then, is to understand how marketers customize messages for this all-important consumer demographic and, by extension, how information about this demographic that is accumulated by marketing specialists helps to shape and customize the consumer experience so that it fits the particular needs of this age group.

Status in the industry You might want to target businesses that are the technology leader or revenue leader or employee satisfaction leader, etc. Today, however, consumers and contractors all around the country have convenient access to hundreds of thousands of everyday and hard-to-find products stacked on floor-to-ceiling shelves under one giant, warehouse-sized roof.

Market Segmentation

Accessibility Because the individual is more difficult to reach you may want to segment by urban versus rural, train commuters, people who read Wall Street Journal, etc.

Not especially inclined toward technically complex offerings, would rather have user friendly, but thought provoking, offerings. There are some products that are on the boundary between this category and the Functional category such as a Rolex watch a Timex would satisfy the functional requirement and probably keep time just as well.

Home Depot Marketing Mix

With speed in mind, retailers like Walmart and Amazon are experimenting with same-day delivery of online purchases. Climate Examples of offerings might be dehumidifiers in areas near the ocean or snow plows in northern areas. With respect to those services, Best Buy seems to convey the message that whether one is either too busy living life or lacking in the technical skills to do his or her own installations or repairs, the retailers has a convenient—if not entirely affordable solution—and this appeal responds to the immediate gratification needs of this demographic.

One key target market has always been do-it-yourselfers who tackle home projects on their own.Market Segmentation And Home Depot. negative notes of how much money one lost in the stock market, how homes no longer have the equity it once had, and how some lost a home because of having the current status of consulting and being in between jobs.

Because Home Depot is the leading supplier of home improvement building materials. Home Depot Marketing Mix Introduction. Home Depot originated in Atlanta Georgia in when Bernie Marcus and Arthur Blank formed MB Associates.

The company went public in The Home Depot stock moved from NASDAQ to the New York Stock Exchange three years later in The company then acquired Bowater’s Home.

Mar 25,  · Home Depot invests considerable sums in providing a superior customer experience.

Home Depot Marketing Mix

Its co-founders say “the customer has a bill of rights at The Home Depot.” Home Depot’s Target Market and. Home Depot Inc's Business Segments Description service-oriented personnel and strong marketing and credit promotions.

We believe that our associates' knowledge of products and home improvement techniques and applications is very important to our marketing approach and our ability to maintain and enhance customer satisfaction. Home Depot Builds on Research, Segmentation, and Targeting. Nearly 40 years after Home Depot opened its first two stores, the Atlanta-based company is the U.S.

market leader in one stop shopping for home-improvement tools and materials. The brand recognition of these stores may help attract this demographic, but even successful chain retailers such as Best Buy and Home Depot need to develop marketing strategies that speak to the specific needs, interests, and experiences of this consumer group.

Market segmentation and home depot
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