GROUP 7 HOMEDEPOT

  How Home Depot is using technology to help with changing consumer attitudes towards home renovation by Dean The majority of Home Depot’s target market is Do It Yourself (D.I.Y) customers. These are ordinary people who want to improve their home by themselves to save money and for the rewarding feeling of accomplishing a big project. To sustain their growth Home Depot needs to market the idea that renovating or buying stuff for your house is an easy task. We all know that renovating a house or buying pieces of furniture are high-effort decisions because it involves a lot of time and money.  Home Depot uses technology to influence their customers to let go of that idea.With the perception that it’s “hard to do a renovation because you don’t know where to start.” Home Depot uses AI technology with its mobile application to help customers with their projects.  In the palms of their hands, they can easily access information about a project and the materials they’ll need, complete with

  How Homedepot placed their brand on top of the consumer's taxonomic category By Dean This section is about impression and being “the brand” on top of people's minds when they’re thinking of something to satisfy their needs. When something gets broken in the house or apartment people think of going to Home Depot to buy parts. That’s when you know a brand is at the superordinate level, It’s the level in the taxonomic category where consumer classifies it as the pioneer in that sector. Home Depot was able to position itself in the knowledge structure of their target consumers by being consistent with their marketing communications and by defining key schemas . One of the most identifiable schema that Home Home Depot has is its brand image ; it's favorable, unique, and easy to remember. Since designing a brand image is not an easy task The company has gone through ample time of research and iterations.  SOURCE :https://corporate.homedepot.com/newsroom/orange-sign-building

  Topics under Chapter 3: From Exposure to Comprehension PERCEPTION AND CONSUMER BEHAVIORS  By Dean How Home Depot Positions Itself In this chapter we learned about how important it is for brands to learn how consumers perceive them but to be specific we’ll go over why Home Depot utilizes the things we learned in class such as perceive through vision and hearing to appeal to their target demographic. Home depot is one of the most valuable brands in the United States and the reason behind that is they're very consistent with their branding and marketing communication and as you can see they spent at least $1.06 million dollars in advertising back in 2018 and the company continues to increase their ad spending year after year.  Source:https://howmuch.net/articles/top-100-most-valuable-brands-2020 Home Depot's advertising spending in the United States from 2012 to 2018 (in million U.S. dollars) Source: https://www.statista.com/statistics/298763/home-depot-ad-spending-usa/ PERCE

Topics under chapter 1: Understanding why Consumers shop in the first place by Marycruz      Businesses look at understanding consumer behavior and trends so they can create goods and services that consumers will want. Home Depot is a great example of why consumers continuously buy home goods and why they visit the store. Home Depot offers products such as home appliances, hardware, and offer installation services. Mainly everything a consumer who owns a home or lives in an apartment might need.      Once they are there they go through the process of making decisions on whether to buy the product or not. Let’s visualize a consumer going in to shop and how they process making decisions. The first reason a consumer might want to visit Home Depot is that they need something for home improvement. They recognize their problem which could be that they need a new refrigerator because they know that the one they currently have is not keeping their food cold and fresh as before. Next, t