Improvement in Home Improvement Stores

Purpose of the Study

The purpose of the study is to find out if the home improvement stores have made any improvements and how?

Problem Statement

How the improvements have been made so far and what lessons can be learnt from the research.

Overview of the Study

The Home Improvement Stores came into being in the 1970's. They began with a warehouse store with a wide variety of products at the lowest prices. These companies gradually started expanding and there were more and more market and customers that went for it as if it were one of the gaps which was filled in by these stores. Today there are several world's home improvement chain and the others are Wal Mart etc.

Research Question

What are the various ways and means that were adopted by the industry?

Significance of the Study

Home Improvement Store's mission is to form mutually beneficial partnerships with diverse businesses in order to deliver superior products and services and better customer service, which would ultimately increase shareholders value. That's the reason why the company actively seeks diverse businesses and provides the opportunity to partner with them to provide competitively priced, high quality goods and services to customers.

Literature Review

The Home Improvement Stores Company competes in the retail industry, selling directly to customer's products manufactured by other firms. The Home Improvement Stores is the second largest retailer of the country after Wal Mart. Its business is dedicated to (Alreck, 11-18):

Home improvement and hardware retail (primarily)

Building materials retail and distribution.

Consumer electronics and appliances retail.

The Home Improvement Stores faces monopolistic competition. In a monopolistic competition business may be large or small, but it's still easy to enter or leave the market. That's why sellers try to make their products appear to be different from those of competitors. Differentiating strategies vary from business to business. In Home Improvement Stores , for instance, the company stresses its environmental responsibility offering green products which are resource efficient or even made of recycles, as a way to attract people, specially those who are concerned with environment matters and though differentiate from its competitors (Dow Theory Forecasts, 21-24). The company also offers guaranteed low prices and great deal of services to customers as a way to attract people and provide, as one of their most important values, the best home improvement shopping experience. According to this, its services range from installation and design services to tool rentals, in addition to expertise personal assistance when shopping in the store. The Home Improvement Stores is now seeking to open a huge store in Manhattan. The grandiose dimension that the superstore is expected to have, is clearly another way to differentiate from its competitors making from a simple hammer purchase an imposing experience. Advertising plays another mayor role in differentiating strategies, this is clearly seen in the new partnership the company has established with Discovery Networks, through which will be sponsoring two of the mayor shows on cable television Colander, 11-15).

Home Improvement Stores Builds Upon Exclusivity at Discovery

Home Improvement Stores has recently made ...