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External Analysis
Macroenviorment Analysis:
· Economic- The home improvement industry is below their normal state with the present economic status. Consumers are putting their wants such as adding new appliances or redoing their bathroom on hold. Construction companies are also in a slump; with the building of new homes on a downward slope the large orders of construction companies are not being made
· Technological- Technological advances have played a huge role in the home improvement industry with advancements in appliances and power tools. These advancements help with everyone from people at home doing their daily chores to large construction companies finishing their jobs quicker.
· Social/Culture- The social and cultural aspects in the home improvement industry are being looked upon now more than ever with natural disasters becoming more consistent.
· Demographics- An advantage of the home improvement industry is that you have a wide range of consumers. The main consumers of the home improvement industry are males from the age range 25-40.
Industry Analysis:
Suppliers-Distributors, Lumber Factories, Nurseries (Plants/Flowers), Labor
Customers- Mass Consumers
Substitutes- Lumber Yards, Hardware Stores, Nurseries
Rivalries of Existing Companies- Customer Service, Price, Quantity, Selection, Convenience, Location
Major Competitors: Home Depot, Do It Best, Ace Hardware, Menard, Sears
Conclusion: Given the current economic status the home improvement industry is in a low spot with sales. With the decrease in building new homes we have to focus mainly on home improvement ...