case.docx - Joanna Pauline C Intalan 4-BS Entrep The home depot Introduction Home Depot is the world’s largest home improvement retailer the

case.docx - Joanna Pauline C Intalan 4-BS Entrep The home...

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Joanna Pauline C. Intalan 4-BS Entrep The home depot Introduction Home Depot is the world’s largest home improvement retailer, the fourth-largest retailer in the United States, and the fifth-largest retailer in the world, with stores in every state in the United States, as well as in the District of Columbia, the U.S. Virgin Islands, ten provinces of Canada, Mexico, and China. With a strong emphasis on customer service and well-trained, helpful employees to deliver on that promise, the retail giant has built one of the most-valued and desirable brand names in retail. According to surveys by Interbrand, a global brand consultancy, Home Depot has consistently scored among the top ten most- valued retail brands, hitting the number three spot for 2010, with an estimated brand value of over $23 billion. It is little wonder that Home Depot entered the world of social media marketing with a great deal of anxiety about potential damage to its sterling reputation. However, the company quickly discovered a huge fan base awaiting them. The retailer soon found new ways to satisfy its customers using social media, such as how-to videos published on YouTube and other video sharing sites. Unlike viral videos, it took time for Home Depot to attract a sizable viewership for its how-to videos, but eventually the retailer discovered that “[I]f you build it, they will come.” History Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. To change the way people thought about home care and improvement, the company created “the ‘do-it-yourself’ concept, spawning an entire industry that now spans the globe.”50 The first store was opened on June 22, 1979 in Atlanta, Georgia. Although Home Depot’s corporate headquarters remains in Atlanta, it has become the fastest-growing retailer in history, with more than 2,200 retail stores around the world and with revenues exceeding $16 billion in the first quarter of 2011, as well being listed on the Dow Jones Industrial Average and Standard & Poor’s 500 index. A typical Home Depot warehouse stocks an enormous variety of building materials, wall and floor coverings, paint, plumbing supplies, hardware, tools, electrical supplies, and items for landscaping and gardening. The initial concept for Home Depot was to be a discounter, marking down merchandise to increase sales while lowering overhead. However, the founders recognized that the major problem plaguing most cut-rate retailers was poor service, because they hired low-paid employees with few skills and no training in order to minimize costs.
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  • Summer '18
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