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Essay / Research Paper Abstract
A 10 page paper comparing home improvement retailers Lowe’s and Home Depot. Lowe’s is a much older company, but Home Depot overtook it in 1989 to lead the industry. Home Depot currently is grappling with lower sales, however, and at a time that Lowe’s has been working diligently on its image and its reputation, particularly with women. The paper discusses the history of each company and its current position to analyze which is positioned better for future growth. Bibliography lists 13 sources.
Page Count:
10 pages (~225 words per page)
File: CC6_KSmgmtLowHmDepot2.rtf
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Unformatted sample text from the term paper:
Home Depot appear to have traded spaces during the decade of the 1990s. The growth of Home Depot that was nearly exponential during the 1990s now has flattened and
even shrunk in some stores, and Home Depot has lost more than half of its market capitalization as it watched Lowes essentially reinvent itself and pull ahead in terms of
nearly everything but size and financial resources. Lowes One author quite aptly summarizes the changes that have occurred at Lowes over the past
decade: "Lowes, a retailer once destined for oblivion, is conquering the nation and outrunning rivals with a crafty mix of hardware and estrogen" (Upbin, 2003; p. 52).
When Chief Executive Robert Tillman took on Lowes leading position, the company was known for its preference for contractors; lack of customer service; and high
prices. Tillman had been in retail all his adult life, and all of his experience had been with Lowes. More than 35 years ago, at the age of
24, Tillman became the youngest person ever promoted to Lowes store manager. When taking on the position of CEO, it was natural for Tillman to turn to customers to
learn their perspectives and opinions about Lowes. After conducting 20-minute exit interviews with 8,000 customers, Lowes compiled the data it collected and implemented customer-driven changes at all of its
stores. It was that same research effort that revealed to Lowes management that 80 percent of home improvement projects are originated by women. Husbands and contractors may do
the actual work, but it is women who provide the impetus for that work. For the past several years, Lowes has been targeting women in its marketing (Upbin, 2003).
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