Insurers' journeys to build a mastery in the IoT usage
Power point presentation eng 3355
1. Prepared by:
Business Team 5
Lucy Snelson
Patricia Tellez
Kaitlyn Urenda
Pedro Vega
2. Founded in 1946.
North Wilkesboro, North
Carolina.
Second largest home
improvement retailer world
wide.
Serves more than 14 million
customers a week.
1,710 stores in the United States and 20 in Canada.
Lowe’s stores stock 40,000 products.
Hundreds of thousands more available by special
order.
3. Mission Statement
To provide home improvement products and
valuable solutions to the customers.
Values statement
We will provide customer-
valued Solutions with the
best prices, products and
services to make Lowe’s the
first choice for home
improvement.
4. Strengths
Established presence and efficient
merchandising:
Store segmentation efficiently caters
to the customers’ needs.
Dedicated service for commercial
business customers.
Commerce development initiatives:
Provides customers several shopping
options
Buying online, pick-up in-store, or direct
shipment to the customer home.
Programs promoting long-term business.
Roofing, siding , and fencing.
Strong distribution system:
Owns and operates 14 regional
distribution centers.
5. Weaknesses
Dependence on third party manufacturers
Difficult to ensure the quality of the goods they offer
in their stores.
Often leads to product recalls.
6. Opportunities
Private label brands drive growth
Increasing demand for private label brands.
Excellent reputation among consumers.
Well poised to reap the benefits of private label
brands.
Online and language investments
The company launched Lowe’s.com en Español.
Increase appeal to the Hispanic consumers.
Enhance their experience.
7. Threats
Difficult US economy
Affects sales for the company.
Competition
Large, small, direct and indirect competitors.
Financial performance could be severely affected if they are
unable to meet the competitive pressures.
Poor outlook of housing market
Decreasing demand for home improvement and building
materials.
The number of new houses being built, or not built, directly
impacts demand.
8. A frequent topic in the national news between
2005 and 2007 involved a language panic.
The display of signs in Spanish upsets many
customers.
English is pivotal to the preservation of a
strong national identity.
Quickly became an immigration related topic.
9. Lowes cannot be responsible for the entire well
being and ideals of the United States.
Common courtesy and understanding is a key
element.
Place of business needs to hold the needs of its
customers above prejudice or ignorance of the
general public.
10. Bilingual signs should
stay.
Special training for
employees.
Accommodate needs for
those with an English
language barrier
Advertising campaign
promoting tolerance
among different cultural
groups.
11. Dual language signs are a source of
convenience for the diverse nationalities in our
country.
Proper training of employees will boost
confidence and pride among customers.
Lowe’s will establish itself as a community
leader and mentor.
Increase in revenues by attracting new
customers.