Both the home depot and Lowes carry merchandise for home, garden, lawn, landscaping, and many other merchandising projects detailed for remodeling and repair. In looking at the history of these two companies, I found they both started on similar visions and now are essentially dominating the home improvement industry. Whereas the Home Depot started very early to identity itself to the DIY consumer, market forces pushed Lowes to find new markets to survive. Both companies have similar strengths, but Lowes weaknesses and inability to outperform The Home Depot puts the latter farther ahead of
Your shoppers must always be able to find these necessity items in stock whenever they are needed. These much needed products include household cleaners, health and beauty items, paper products and food items. As the current market structure of the dollar general store is important we look at the effect of government regulations. As seen in the last couple of years, DG has started offering advanced in-store services to their employees which in turn is passed to the consumers. However, more services can be added to attract consumers the best thing any business person can do is to get familiar with the country that you’re targeting.
Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
Companies do this by gathering information about other similar companies, customers, and products. Competitive intelligence information is used in the decision making of managers and executives to support strategic decision making for the company. It is important for Kudler Fine Foods to know what their competitor is doing for several reasons. First, if their competitor is offering a promotion to the public that is attracting more business, then Kudler Fine Foods will want to offer something along the same lines so more business will sway in their direction. Second, although the company may feel that they offer the best product, if the public feels that the competitor is offering a better product, they may want to consider changing their supplier of certain food products.
For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling. Design of the marketing mix to satisfy the needs of the target market: The business will design their marketing mix around of the customers’ demands. This is important that the business design something that will meet the customers demand because they will have more sales and also more profits, if the business doesn’t do this they will lose sales and also a lots of profits, so this is very important that they do this if they don’t it will bring their businesses down. The business will make sure that they are investigation to find out what will be the best products
They have an interest in the business by prompting money and want the companies to make steady orders. They like to feel valued, by the company which they supply too. Owners have an interest in the business because they can either be sole traders or run the business in partnership. They are known for the most significant stakeholders which they are the ones who control the business. Their interest is to see the profit they make increasing and the value that the business has rising.
Increased Profit Opportunities Company S will also increase dealership motivation by providing additional profit opportunities. This includes providing the dealerships with marketing and advertising and sales promotions, as well as offering the dealerships credit terms on their product purchases. Through these opportunities, Company S will strengthen its relationship with the dealerships. Again, the disadvantage is through an increased cost to the company by means of advertising dollars and carrying credit terms. 3.
Each employee is trained in a particular department; this is advantageous because employees can offer customers expert advice. At the same time this can be a disadvantage; with employee turnover it can be costly to retrain employees. As I was checking out, I was able to witness Home Depot’s means of concurrent control. A new cashier was being shadowed by a more seasoned cashier and was receiving simultaneous performance information on what she was doing wrong and right. An example of feedback control used by Home Depot is the customer satisfaction survey printed on
Human Resources are a major aspect to every business. Management's presentation in human resources will say whether or not a business will be flourishing in the long run by recruiting with the right people for the right positions. A lot of businesses and their managers undergo the pressure to be completely staffed and take on people without actually evaluating their potential for quality effort as well as being a good fit for the atmosphere the managers desire the workplace to have. ACC has experienced employment issues in recent times since they are devoted to maintaining a definite standard of quality when offering a spot to a new member of staff and are reluctant to just settling for the regular. Managers at ACC have to cautiously examine their respective workers and decide if they require the need for extra people and if they do the managers have to estimate the different personalities they manage and what type of personality would fill the open spot effectively.
Mulcahy’s sales management experience developed her skills in buildings teams. “The key to managing a sales team is the ability to set goals and motivate your team,” she said. Harvard (2010) 1.2 Moving to Corporate As greater responsibilities came Mulcahy’s way, she was eventually promoted to vice president for human resources in 1992 during the 1990s restructuring. Mulcahy found she had a passion