Home Depot, brand champ
By Clint Engel -- Furniture Today, February 17, 2002
GREENSBORO, N.C. — The Home Depot's Bill Lennie calls a brand a promise and a product that is conveyed to consumers by everything they observe.
And Lennie, vice president for kitchen, bath and appliance departments for the Atlanta-based home improvement giant, said that means everything — from the logo, to advertising, to the way customers are treated when they come in contact with the brand name, and to storefronts, displays, catalogs, news articles and the Internet.
"We recognize that our brand name is the most important thing we manage. It's our most valuable asset," he told an AFMA audience.
He said that in just 23 years, the $53 billion company has built brand awareness among 98% of the U.S. population — the same kind enjoyed by the likes of Coca-Cola and McDonald's.
Lennie said branding "encompasses all the thoughts and feelings and expectations a persons experiences when they are exposed to the brand. Consequently, every brand it either strengthened or weakened by every point of contact. That's why consistency is so critical."
Product price, selection, service and safety — along with a healthy, continuous dose of promotion — play key roles in Home Depot's brand building.
In the service area, it has built a reputation as a company that cares, giving back to the community with its charity work. Home Dept also pursues branding through sports links, including a NASCAR sponsorship and support of the Olympics.
In product, Home Depot has established itself as the retailer of national brands such as Kohler, Delta, DeWalt and Maytag at the best prices. In categories where a national brand doesn't exist or where there is a void, the retailer has created its own proprietary brands with equal success. Its Hampton Bay brand, for example, is the top-selling ceiling fan in North America.
On a limited basis, the company has developed licensed brands, including Thomasville kitchen cabinets. And in a first, Home Depot is "licensing out" its name for a line of Home Depot toy tools for sale at Toys R Us.
"Clear, concise consistent communication is critical to the success of a brand, and confusion will lead to the brand's failure," Lennie said.
| Bill Lennie, left, of Home Depot and industry analyst Jerry Epperson share the stage. |
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