Lowe's Target Market Analysis

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1 – Summary Lowe’s Companies is an American based company whose major area of operation is the retail home development market. In addition, the company also deals with home appliances. It areas of operation include the United States, Mexico, and Canada. The company was founded back in 1946 in North Carolina, North Wilkesboro. It has a chain of 1840 stores which are located in the United States, North Carolina, and Canada. Notably, the company expanded to the Canadian market in 2007 by opening stores in Ontario. 2 – The Target Market A target market refers to a group of consumers that a company has decided to focus on in their marketing plans. Notably, a well-defined target market must have a marketing strategy element. There are various…show more content…
In addition, the demographic segmentation is based on level of income and level of education. The Lowe’s Companies Inc. targets professionals that may include home builders, contractors, interior designing professionals, renovators, traders, and so forth. The company also targets high income earning people who have the ability to hire house-consulting as well as installation services. 4 – Geographic Segmentation Geographical segmentation is based on the location of the targeted consumers. The Lowe’s Companies Inc. targets both the domestic markets and the international markets. The company started with the local markets with its initial operations in the United States, North Carolina. The company later opened branches in Canada in the year 2007. In the year 2010, the company also expanded operations to Mexico and later ventured to Australian market in the year 2011. The company is known for being the second largest hardware chain in the United States. 5…show more content…
The graph ranges from the most desirable to the least desirable in the minds of the consumers. Perceptual mapping in the airline industry considers factors such as price, the service level, the availability, the catering services offered, and the comfort level. For the case of the Lowe’s Companies, the variables under consideration are availability or timings, the price or the affordability, customer service. Slide 9 – Map Placement Analysis Home depot is the leading home market development market in the united states in terms of customer service and market share. Lowe’s Companies Inc. come second followed by Mernads. Despite the similarity of the products offered by the three companies, Home Depot lacks a significant competitor and substitutes that can be said to closely compete. This is based on the fact that it offers low prices in addition to the wide variety of products and services the company has at its
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