Week 4 Case Study: Your Home Is a Good Place, Inc.
Course: MGMT 9160: Marketing Management
Due May 15, 2016
I. Background & Key Facts:
Bill Norwalk created Your Home Is a Good Place, Inc. (YHGP) in 2006. Realizing the many pain points homeowners face when looking to make home improvements, YHGP developed a way to make these improvements less agonizing for homeowners by providing services to handle all of the potentially time-consuming and frustrating details.
Homeowners can enjoy a one-stop shopping experience with YHGP. Norwalk understood that many individuals do not have the time nor the talents to visualize home improvements or additions, so he constructed sample showrooms for viewing so that his clients could envision their dream space. Whether the client was looking to re-do a bathroom or kitchen; or create a home theater, pool area, or putting green, they could come to YHGP. Providing clients with the vision was just the beginning; once committed, YHGP would handle the construction plans, deal with the financing aspects of the project, obtain the appropriate permits, and finalize required contracts.
II. Main Problem Statement:
YHGP is located in Indiana in the Michiana area. YHGP’s vision was to market to wealthier homeowners, serving customers whose household income was over $100,000. Census data from the seven counties in Michiana showed there were approximately 856,000 residents with a median household income ranging from $37,000 to $57,000 (Coulson & Swanson). According to the survey from 2000, only about 10% of individuals met Norwalk’s desired income levels of over $100,000.
This segment of the population becomes even smaller when one considers that simply having a certain income level does not result in a home improvement project. According to the census, approximately 30% of the Michiana population are renters. On top of this, many residents are living in relatively new...