Target Audience: Home Depot’s target audience is found through two avenues, demographical identifiers and psychographic identifiers. The company has several demographic target audiences but there is only one who shops there the most. The most financially beneficial of these demographics is the millennial generation or also known as generation Y. This could come as a surprise because the second largest demographic for the company is the baby boomer generation. “40% of the nation's homeowners are boomers, and they own about half of the total home value in the country.” (Bowman, 2016) Now millennials are taking over the majority of the home improvement market segment. This target audience’s demographical makeup can be characterized as being those …show more content…
The Millennial group demonstrates unique personalities that the Baby Boomer may not display. The main groups The Home Depot is targeting are the do-it-yourselfers, do-it-for-me, and the professional customers. (Bowman, 2016) The millennial audience, which makes up the majority of the first 2 groups, is looking for products and services to help them renovate, help with maintenance, or decorate their home. They need assistance with this because they are first time home owners and have little to no knowledge of these products or services. They are also picky and specific, they know their needs, and know they can shop around at different locations; therefore pricing and promotions are important factors to this audience. “Although millennials have taken longer to establish themselves as homeowners and heads of households, a study done by The Home Depot indicates that home ownership is, in fact, a more important goal for this age group than it is for baby boomers.” (Weinswig, 2015) When it comes to the group labeled professionals, they will continue to shop at Home Depot due to its diverse inventory such as lumber and electrical wire and plumbing products. The do-it-yourselfer’s and do-it-for-me’s are the main focus for The Home Depot because they believe those groups are the most profitable for the …show more content…
They are both from is from Omaha, Nebraska. Betty Gardner is 28 with a Master’s degree in education at the University of Bellevue. Adam Asher is 30 years old with has an Associate’s degree in Liberal Arts at Metropolitan Community College. Betty works as a 2nd-grade teacher at Ben Franklin Elementary school. Adam works as an Administrative assistant at Radcliff Technologies. The two meet through a dating website and they've been dating for 4 years. The couple just moved in together in a suburban neighborhood with a demographic of middle-class families. The couple regularly uses social media to update themselves with news, friends, and online shopping. Betty loves her Instagram and Facebook accounts while Adam uses Facebook and YouTube. The couple rarely watches television and if they do it would be prerecorded shows. They are avid Netflix users and use their on Demand services through their cable provider. Betty and Adam enjoy the ease of online shopping and use it more than a visit to actual stores. The couple enjoys going to local Thai and Mexican restaurants. They enjoy Grocery stores like Whole Foods or
Established as the older company of the two, Lowe’s ranks forty-second as a Fortune 500 company. Established in 1946 as a small hardware business, Lowe’s has grown into a 40,000 product, global market enterprise that consist of 1,710 stores nationwide expanding into the countries of Canada, Mexico and Australia (Lowe's Internal, 2010) Home Depot, founded in 1978, is the fastest growing retailer in the United States. Ranked twenty-ninth as a Fortune 500 company, Home Depot continues to remain the number one do-it-yourself retail store in America. These two companies may sell products of the same nature, but comparing their Code of Ethics is their way of setting themselves apart. (Home Depot Internal, 2009)
Home Depot’s slogan, “More saving. More Doing.”, promotes Home Depot’s marketing strategy with more appeal for customers with less money to spend. Home Depot carries major brands but also carries Home Depot exclusives and proprietary brands which save customers money. Home Depot carries major brands like Dewalt, Hampton Bay, Homelite, and Martha Stewart Living. They also carry proprietary brands such as Ryobi, Rigid, Behr, LG and Toro.
Consumers become more interested in what brand they buy, and that what they want does not reflect their needs. While there are different products having the same features, people are still giving attention to the brands’ name. When people go shopping at the mall, they do care how the stores present their commodities, which brands use to target their consumers, especially women, and teenagers because they spend more time at the mall, so they are more likely to spend money on useless features’ commodities. Shopping at home, the salesperson explains the features of the product so that another will offer to buy it. Also, at home is the easiest way to buy useless
In relation to this case, Target Corporation depicts a brand personality among its target audience. Target Corp. is considered as the retail store that caters to the younger and more educated and well-off clientele as to compare with its rival. In a survey conducted, Target Corp. shoppers fall on a 46 years old age median, mostly female, have children at home, and attended or completed college (Target Corporate Facts, 2006). Thus, the target market is perceived to be sophisticated. However, with the corporate values the corporation applies, the brand personality serves as one of its distinguishing pro.
Opening its doors for the first time in 1946, Lowe’s is now the second largest home improvement chain in the world, operating over 1,800 stores in the United States, generating $56.2 billion in sales and $2.6 billion in net income for 2014 (Lowes Newsroom, 2015). Employing around 265,000 personal making them one of the top employers in the nation, there is no question that Lowe’s must be doing something right. According to Lowes Newsroom, “Lowe’s professional customers represent approximately 30 percent of total sales, approximately 16 million retail and professional customers are served each week. (2015, para 3) “Never Stop Improving”, is Lowe’s slogan; encouraging employees and customers to work together to maximize their in store
In this audience analysis, I have addressed a situation in which I am called on to present quarterly sales information at an in-person meeting to a group of stakeholders, including managers, salespeople, and customers. I will explain how I will address the communication to this audience by answering the following questions: (1) What characteristics of the audience must I consider?, (2) What communication channels are appropriate? (3) What are some considerations to keep in mind given the diversity of the audience?, and (4) How would I ensure that my message is effective?
On June 22, 2003, Adam married with his actual wife, the actress Jacqueline Samantha. The couple has two daughters, Sadie Madison, born in 2006, and Sunny Madeline, born in 2008.
First and foremost, it’s essential that the appliances are addressed. Appliances are the “age spots” of a house. As a result of planned obsolescence, products such as refrigerators and dishwashers are meant to be replaced every ten to fifteen years. This leads to the innovation of new ideas during product manufacturing. For example, when manufacturers released stainless steel refrigerators, the once-popular white models with the convenient ice distributer quickly became outdated. This illustrates a simple rule: investing in new appliances is one of the quickest ways to make a home feel as though the builders recently made the finishing touches and packed up their tools. They instantly modernize the house. This is the reason new appliances weigh so heavily in a buyer’s decision ...
Part of the demographic of shoppers in Home Depot retail outlets need an item or product immediately, and that brand recognition and in stock purchase option is vital to maintaining the competitive advantage of the organization.
In examination of Dell’ and Home Depot’ marketing strategy, I’ve determined they both use a market multi-segmenting approach with two totally separate target markets. A company’ target market is defined by Ferrel, Ferrel & Hirt (2016) as “a more specific group of consumers on whose needs and wants a company focuses its marketing efforts” (p.338). With this definition in mind, Dell appears to target consumers in need of personal desktop and laptop computers for home, work and educational endeavors. Based on the website, student and IT professionals between the age of 18 and 49 appear to be the main marketing focus, where as, Home Depot’ appeal is clearly directed to the do it yourself crowd, made of a diverse group of home owners and professionals
Introduction This report provides a market target analysis of Hanndia Pest Control Services Pty Ltd. Hanndia Pest Control Services, specialise in working with real estate agencies to manage white ant infestation of rental properties, by applying an environmentally friendly fumigation barrier. The main office is located in the Brisbane City council suburb of Calamvale, South Eastern Queensland, with a total of 20 employees. This includes the manager, field officers, and administrative support. The purpose of this report is to identify the market target for Hanndia Pest Control Services.
A target market for a company consist of demographics, Psychographics, and geodemographics. Walmart's strongest of the three segmentations would be demographic. Walmart’s target markets across the usa consist of the three demographic’s for walmart’s target market would be age, gender, and income. These three demographic segmentations are walmarts strongest customer according to Haley Peterson, on her article “ The average wal-mart shopper” on businessinsider.com where she explains the three demographics for walmarts success on being the worlds largest retailer.
He was neat in appearance and was dressed in business casual attire. Adam is a medium build White man of average height and was also neat in appearance and dressed in hospitable scrubs. During the session, the couple had limited eye contact with each other and spoke with little inflection in their voices. Steve demonstrated excitement in his voice when he spoke of his biological family. Adam would role his eyes when Steve spoke about his family. Throughout the session, the couple made no physical contact with each other, Adam sat angled away from Steve, and avoided eye contact with counselor. The couple expressed frustration when talking to about each other with short sentences and audible sighs. When asked about his family, Steve did not mention Adam as a part of his family. Adam’s voice cracked with emotion after counselor noted Steve’s omission. When asked how they met Adam’s face expressed joy and Steve expressed embarrassment by saying “Adam was very forward…and made him feel uncomfortable” Both individuals answered questions openly and laughed with counselors at appropriate times during the session. Both individuals expressed an interest in working together as a couple in
Home Depot, well-known by its big, bright orange box logo, is a retailor of numerous popular brands of construction and home improvement products. Reach the Top® manufactures a popular brand of ladders and scaffolding already sold by Home Depot, and...
As Generation Y, we are 63 million members strong and spend more than a billion dollars annually (Marketsource). With such spending power it is easy to see why companies choose us as their target market. We have grown up in a "'consumption culture" are "taught that (we) will be satisfied if we purchase products to fill our wants and desires" (Youth in the Third Millennium). Perhaps this need to buy things is only a progression ...