Home Depot's Marketing Strategy

The marketing strategy has typically been based on the four dimensions: price, promotion, product, and place. The marketing strategy price involves more than just lower prices than the competition. However, businesses that combine their focus strategy with differentiation or low-cost differentiation generic strategy, have a tendency to emphasize other aspects of their marketing strategy. An organization that emphasizes low-cost may find it difficult to raise their prices when necessary (Parnell, 2017). Home Depot offers a low price guarantee for both online and in-store purchases. For online purchases, Home Depot will match the item plus shipping costs. However, the item must be available from the competitor to ship to the customers location. Home Depot’s in-store purchases, the product must be in-stock, Home Depot will match the price and give a ten percent discount. The customer can bring the advertisement to the store (The Home Depot, 2018). The organization’s position is to be a low-price place where customers do not have to wait for gimmicks or sales (Birkner, 2017). Another part of the marketing strategy is promotion which raises awareness about the organization's product offering in an effort to

Branding is a key part of the product strategy as well as product design. Customer service is another key role in the support of the product and service. Developing and maintaining quality customer service can be more challenging than the product offering (Parnell, 2017). The Home Depot focuses heavily on customer service by training their employees on the massive amounts of questions that are asked by customers. The organization also believes it is important to build relationships with their customers. The Home Depot philosophy is that service is what will bring the customer back while convenience, selection, and value will bring the customer to the door (Birkner,