About Lowers Company
Lowe’s is an American company that transformed from a regional hardware to offer home improvement services. The company operates in other countries like Canada and Mexico. As in 2017, the company had employed around 290000 workers selling different types of products like home improvement, plumbing power equipment, fashion and furniture among the wide range of home appliances.
We cannot peg pen to a paper on the one product that Lowes sales the most. There are the different array of products and the highest product sale hardly exceeds 15%. The company has excellently diversified the sale of its products with retail outlets, vendors and selected distribution centres located all over in the United States
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Lowe’s Companies, Inc. – Fortune 500 Writing Assignment Lowe’s Companies, Inc., is a vendor that offers environmentally responsible home development merchandise, packaging, and do-it yourself informational services at everyday low prices. Lowe’s was founded in 1946 and the first store, now the corporate office, was based in Mooresville, N.C. Currently this company attends to above 17 million patrons a week in Canada, Mexico and the United States. Today Lowe’s is one of the top U.S. operating companies and is ranked number 40 on this year’s Fortune 500 list.
When I wish to do home improvement or purchase home materials, I think of Lowes or Home Depot. I also think about Sherwin Williams, Builder’s Supply, and Ace Hardware. While I was looking for further information on Lowes, I discovered that Lowes has done a great job and is number two in the home improvement industry. To be truthful, my class project for my Financial Statement Analysis was on Home Depot and Lowes. I got a good idea about where Lowes was financially, but I thought I’d like to know more about their business side as well.
and went public. Lowe’s was one of the world’s first retailers who used computers for inventory management since that time. By the end of 1960s Lowe’s Companies Inc. had expanded to approximately 50 stores and dealing almost exclusively with contractors and construction companies with sales around $100 million. During the 1970’s the market started to change, the cost of buying a home went up and a rise in the do-it-yourself market came about. Despite the change in the market Lowe’s Companies Inc. continued to expand their current business plan with the opening of 200th Lowe’s store in Indiana, in 1979.
As a purpose-driven company, Lowe’s is committed to helping people love where they live. Their commitment to helping people goes beyond community projects. It extends to safety and sustainability as well. They listen to ensure to meet customer’s needs. They work to serve the best possible products, so they work with suppliers to remove ortho-phthalate plasticizers from all residential vinyl flooring product and committed to phase out the sale of products that contains neonic pesticides.
Lowes vs. Home Depot Home Depot and Lowes compete in the same home improvement industry strategic group. The Home Depot is implementing a low-cost provider strategy but focuses on serving the do-it yourself consumer buyer. Home Depot is also developing more in the international markets. Lowe’s customer focus is on the professional, the do-it-yourself consumer, and the do-it-for-me consumer. In some cases, Lowe’s is on the cutting edge of market trends with Home Depot employing a follower strategy also implementing a low-cost provider strategy.
Document A Businesses went from low income friendly to high-income friendly. Low-income housing decreased in Woodward from 1995-2012 -Social housing increased from 1995 to 2012 It would have been better to live in Woodward in 1995 because the properties are low income friendly and more people have the opportunity to live there. Many people in Woodward in 1995 would be put in the stereotype that low-income people are committing crimes Gentrification is not okay because many people in the world have issues with finances.
Another approach was direct-to-customer channels include online sales through website in North America and other countries and has recently begun selling directly in certain international markets including
Lowe 's. is an American company that operates a chain of retail home improvement and appliance stores in the North America (United States, Canada), and Mexico. Lowe’s is known for helping their customers improve their homes since it was founded in 1946. They evolved from a small hardware store to a titanic home improvement company responsible for providing customers encouragement and support regardless it be in the store, online, by phone, or at their home or their business. Lowe’s offers more than 50 interior and exterior installation services that constitute of appliances, flooring and blinds; and extended protection plans, repair services, as well as credit financing. In the year 2015, they served approximately 16 million retail/professional customers on a weekly basis, and recorded revenues of $56,223 (millions).
An overview of Lowe’s market is that it is a Fortune 500 company. That is has a chain of big-box retail home improvement stores. Lowe’s is the second largest home improvement stores, behind Home depot and with Menards right behind it. Lowe’s was founded 72 years ago in North Carolina, geographic boundaries are Mexico, Canada and USA. They sell lumber, home improvement materials and appliances, through internet sales and in store sales.
owns about half of the market share in the industry. They are “the world's largest home improvement company and the fifth-largest retailer in the United States, according to the National Retail Federation and are headquartered in Marietta, GA and founded in 1978 (2015).” These store carry a vast range of products in the tens of thousands. The bulk of the sales done by the massive company are in the US with it being 90%. Lowes Inc. is the next massive company in this industry with market share of 35.3%.
They champion at making sure the customers are their top priority and they strive to make sure they are served the highest level of service and the broadest selection of products at competitive prices. The mission statement asserts that its customers are all people in need of tis products and services and that the company ensures that it serves its customers by providing them with the highest level of service, broad selection of service and most of all, competitive prices. Home Depot’s mission statement is relevant in the current market environment since the eight core values paint an image that the company is social conscious, customer oriented and cares about the environment and the welfare of the community. The mission statement of Home Depot is based on the core competencies of the company which shapes its initiatives for
Introduction to Home Depot Home Depot stands out as the market leader in the home improvement industry. With the concept envisioned by two coworkers, Bernie Marcus and Arthur Blank, involving creating a chain of home-improvement warehouses selling a variety of products with a customer-oriented expert staff under one roof, Home Depot opened its first stores in 1978 in Atlanta. It concentrated heavily on offering a huge selection of home improvement merchandise at the lowest price, with customer service associates dedicated to providing expert guidance to consumers (primarily home owners and contractors). The stores were an instant success following which Marcus and Blank initiated an aggressive well-planned expansion program. (Bailey, 2014)
The company segments its market on base of demographics, geographic and behavioral. • Exclusive high quality and green products sold by the company • Exceptional customer service offered by the employees at all the
Their unique shopping experience stems from their smaller store locations with the chevron pattern. They don’t have a large array of products, but they provide high quality goods under their brand name that continues to attract customers.