It has established an efficient distribution network across the United States and Canada resulting in quick service delivery. The company has positioned itself quite effectively in the hearts of its target audience by introducing do-it-yourself (DIY) products. The target audience of Lowe’s are between the ages of 24-36, usually, people with higher income as they can afford to avail of Lowe’s house consulting and installation services. In addition to this, the company has introduced bathroom ware, garden supplies, plants, and housewares. It has also started offering custom-made products to suit the specific needs of its customers. The company supplies wide-ranging products like Home appliances, tools, hardware, builders’ hardware, lumber, building materials, paint, plumbing, and flooring. Marketing Strategy of Lowe’s Segmentation, Targeting and Positioning Providing customer-valued solutions by offering the right product and services at affordable prices. Lowe’s also has a branch in Bengaluru, India. Lowe’s is the second-largest hardware chain in the United States. Lowe’s and its associated organisations service nearly 2200 home improvement and employed over 30000 associates. In the fiscal year 2021, the company had sales of over 96 billion USD and serves about 19 million customers per week in the United States and Canada. Lowe’s began trading on the New York Stock Exchange in 1979. By 1962, Lowe’s managed over 21 stores and reported yearly revenues of 32 million USD. Carl predicted the increasing demand for construction after World War II and expanded the store. James took his own brother-in-law Carl Buchan as a partner in business. The first-ever store of Lowe’s was named ‘North Wilkesboro hardware’ which was later passed on to James Lowe’s. Lucius Smith Lowe, the founder of Lowe’s initially opened a hardware store in the town of North Wilkesboro, North Carolina in 1921. Let us first appreciate the company’s story, its target market, and virtual existence.Ĭonclusion: What makes Lowe’s marketing so special? About Lowe’s – Company Overview We will now give you facts and figures about the marketing strategy of Lowe’s.
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If finance is the heart of a company then marking is the mind. The goal of this article is to give you a judgement about Lowe’s incredible transition from a small town hardware shop to being the most recognizable brand in the hardware industry. In the following article, we will learn and dive into an in-depth analysis of the marketing strategy of Lowe’s: The world’s second-largest hardware chain company. Previously on IIDE, we had examined the marketing strategy of the world’s top sports brand, Nike.
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