Introduction to The Home Depot

I chose to do my final PowerPoint project on The Home Depot. I like so many things about The Home Depot, from their wide range of products, the ideas I get just walking around, and even the smell of the stores. The Home Depot sells just about everything one would need for home improvement and has employees who can provide assistance along the way.

According to The Home Depot corporate site, 2016, The Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. After having been fired from their previous jobs at a home improvement store, the two dreamt up a plan to open their own home repair and improvement superstore with a large variety of products and staff that could help customers through any project (Home Depot, 2016). Starting off with only 2 stores in Georgia, Home Depot is now the world’s largest home improvement retailer. Two important parts of Home Depot’s philosophy is their customers and giving back to the community. Their Team Depot volunteers and The Home Depot Foundation have transformed 34,500 veteran homes (Home Depot, 2016).

The Home Depot is a publicly traded on the New York Stock Exchange and is included in the Dow Jones Industrial Average and the Standard & Poor’s 500 Index (Home Depot, 2016). According to Home Depot (2017), The Home Depot’s sales for 2016 increased 6.9% from 2015 and totaled $94 billion. Home Depot has been seeing its highest sales in history thanks to factors such as “rising home values and people’s desire to invest in their houses (Wahba, 2017, para. 3).

Their mission statement follows: “The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products and the most competitive prices. We are a values-driven company and our eight core values include the following: 
- Excellent customer service - Taking care of our people - Giving back  - Doing the “right” thing        - Creating shareholder value - Respect for all people - Entrepreneurial spirit - Building strong relationships” (Home Depot, 2016).

I see Home Depot’s targeted audience as men 45-65 years old who have above average income. These men are homeowners who enjoy do-it-yourself projects, renovation, and fixing things themselves at home. Some of these men have professional experience in home-improvement and some learn as they go.  Bowman (2016), breaks down Home Depot’s customer base into three categories: those who buy products for “do-it-yourself” projects, those who seek Home Depot’s installation and consulting services, and professional customers such as builders, plumbers, painters, and other experts.

                                                                   References

Bowman, J. (2016 May 25). Who is Home Depot’s favorite customer? The Motley Fool. Retrieved from: https://www.fool.com/investing/2016/05/25/who-is-home-depots-favorite-customer.aspx

Home Depot. 2016. About. Retrieved from: https://corporate.homedepot.com/about

Home Depot. (2017 February 21). The Home Depot announces fourth quarter and fiscal 2016 results. News Release. Retrieved from: http://ir.homedepot.com/news-releases/2017/02-21-2017-110150581

Wahba, P. (2017 August 15). Home Depot reports highest sales in its history. Fortune. Retrieved from: http://fortune.com/2017/08/15/home-depot-results/