MKT2316 Section 311
Lowes Case Study
Group Members:
Victoria Bourne
Lori Anne Page
Wayne Chan
Rebecca Cuff
Richard Hillier
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Table of Contents
Executive Summary .Page 3
Situation Analysis ..Page 3-5
Assumptions ..Page 5-6
Central Problem ..Page 6
Evaluative Criteria ..Page 6-7
Alternatives .Page 7-11
Analysis of AlternativesPage 11-12
Decision and Justification ..Page 12-13
Implementation Page 13-14
Bibliography .Page 15
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Executive Summary
Lowes is a leading home improvement box store, offering a wide variety of home renovation and
building products at reasonable prices. While their products and services may be comparable to
other box home-renovations store, Lowes offers product and brand differentiation from its
competitors. Serving an estimated 14 million customers on a weekly basis ensure Lowes
remains a strong contender in the industry, however, since the early eighties Lowes was
surpassed by competitor Home Depot in revenues. Looking to increase its presence, Lowes
began an aggressive expansion initiative into Canada opening a total of 3 stores in 2007. At the
time of this summary, 31 stores have been opened across Canada with plans to continue
growing.
Lowes Canada is looking to further increase its presence and profit margins to position itself as
a more formidable rival to the better known Home Depot. It is of our opinion that this can be
achieved by concentrating its business-to-business operations to focus on small contractors.
While the economy is still somewhat uncertain, the home improvement sector is thriving in the
Ottawa-Gatineau area. Many contractors are being hired to complete bathroom and kitchen
remodels, the most common renovations seen today. The products required to complete such
undertakings has a high potential mark-up for Lowes, making it an attractive option.
This is not a decision without significant risk; while Canadas economy is momentarily stable,
the world economy is under heavy stress which has a trickle-down effect. Should the Eurozone
collapse, Canada would not remain untouched and our economy would suffer greatly. For the
moment, Canada remains a society based on consumption. It is this economic mindset that
drives our society to want the best that the market has to offer, leading many home owners to
undertake a major remodeling every couple of years; it is this market we hope to tap.
Shifting their business-to-business division to focus on contractors would take minimum effort to
implement. By offering sales discounts on a volume scale would help to attract local contractors
to choose Lowes over its closest competitors. Additionally, it is highly recommended that Lowes
Canada improve its website to cater to these same contractors. Currently, the website is set up
to businesses in general, but a specific tab geared towards contractors would improve visibility
to this group and can help them manage any outstanding accounts and pre-order products
online.
Another key element to increase market share is Lowes must continue its expansion in the
Ottawa-Gatineau area. Currently, Lowes is not as visible, nor as accessible to a large portion of
the population, -contractors included. By increasing its presence to rival that of Home Depot
would help to solidify its hold on the market. Many contractors will make purchases based on
convenience rather than corporate loyalty. In short, these contractors will seek out to purchase
a product at the closest location, if there are similar stores that sell the product. In the city of
Ottawa-Gatineau, Home Depot has a total of seven locations whereas Lowes only has two
servicing opposite ends of the city. A store to service Gatineau would be advised as many
contractors working in Ontario are Quebec residents.
Situation Analysis
Strengths
Second largest home improvement retail store in the world
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Low Prices
Strong community support
o Community Engagement company participates is charitable acts, and has
partnerships with Habitat for Humanity and other charities
o Rebuilding Together- help depressed communities and impoverished families
improve their homes
Excellent customer service
Wide and differing variety of products
Various installation services
Using emerging technologies
Clear mission statement:
o Our Mission: Providing customer-valued solutions with the best products at the
best price
o Big Box shouldnt mean little service
Rapid growth:
o In 2007, there were 3 stores, all in Toronto. Come 2011, there 24 stores across
Canada. As of July 2012, there were 31 stores in the country
Large profit margin:
o $48.8 billion in sales in 2010 (35.14% gross margin)
Willingness to listen to potential new vendors whose products and/or services may be
beneficial to the company- section on website inviting vendors to submit their information
and ideas
Focus on Employee Engagement
o Company culture that promotes employee retention- striving to ensure that
people want to work there and stay there long-term
o Encouragement and support of employees
Thorough screening process of contractors (Lowes website)
Willingness to be flexible and reconsider store sizes and locations in order to increase
growth (from Financial Post article)
Won a Customer Satisfaction Award from J.D. Power and Associates Reports for
Customer Satisfaction with Major Appliance Retailers
Lowes received good reviews from Canadians about their satisfaction guarantee
Lowes works with customers whenever, wherever and however they would like to be
engaged in
Accepts customer sales and service inquiries by fax, phone or email and located clearly
on their website
Weaknesses
Remains a small presence in Canada- only 31 stores to date compared to Home Depots
180- more must be done to promote the Lowes brand in Canada and increase market
share. The company is still not as recognizable as its chief competitor is in Canada
Majority of stores are in Ontario- greater expansion into other regions is needed if
company wants to gain a stronger foothold
The focus on kitchen and bath renovation segments could be depriving the company of
profits from other areas of the home improvement market
Low prices means less profit per item
Using emerging technologies means a higher cost
It cost significantly more to carry so many brands
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Opportunities
Expanding Internationally
Growing market for online shopping
Booming housing market- frenzy for condos
Huge home renovation market
Forming relationships and building alliances with Developers, Contractors, Interior
Designers and Decorators- these clients must get their materials from somewhere-
convincing these potential clients to do business could lead to a huge increase in profits
Potential to obtain ownership of RONA, another competitor in Canada- current proposal
refused, but potential there (from Natl Post article)
Unseasonably warm winter weather will increase sales
Expand to more areas of installation services
Threats
Weak economy means less people are spending on big purchases such as appliances
Weak economy means more people are doing DIY projects, limiting the need for
installation services
Fluctuations in the housing market- the number of new housing starts in some areas is
down (stats Canada printout)
Some people may patronize the competition because that is the only place in their area
o Orleans example; while the Lowes location was still under construction and the
opening was imminent, the local Home Depot held a staff meeting to address the
threat posed by this new and formidable competition. Up until Lowes opened,
Home Depot was the only major hardware store in the area
Hard economic times leading to huge layoffs by major employers- this will discourage
people from buying new homes and renovation existing ones, which will have a negative
effect on the profits of developers and contractors
The dominance of competitors in the Canadian marketplace
o Home Depot, but also IKEA, and others who are also making inroads in the
lucrative Kitchen and Bath segment
o Retailers who sell major household appliances (washer/dryer, fridge, dishwasher,
stove)
Regulatory process- zoning by-laws and other construction related legislation could slow
expansion plans
New mortgage regulations will slow housing development, including the potential for new
builds
Local contractors may offer cheaper installations than Lowes
Assumptions
1. The market for home improvement/renovations and new home construction will continue
to grow.
This represents an enhancement.
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2. Lowes will continue to face a difficult battle to gain a foothold in the Canadian market.
This represents a constraint.
3. For the duration of our study period, Home Depot will remain the dominant home
improvement retailer.
This represents a constraint.
4. The Canadian dollar will remain strong.
This represents an enhancement.
5. The housing bubble will not collapse.
This represents an enhancement
Central Problem
How can Lowes Home Improvement Warehouse gain a stronger foothold in Canada and
increase its sales to capture a larger share of the Business-to-Business market in a difficult and
competitive economy?
Evaluative Criteria
CRITERION CRITERION QUANTIFIED
Customer Service 0.30
Geographic Growth 0.25
Level of Risk 0.20
Employee Growth & Satisfaction 0.15
Corporate Social Responsibility 0.10
TOTAL 1.00
1. Customer Service: This is an extremely important component to how Lowes does business.
They are a customer-centric company whose focus is on providing the quality products and
services that customers want and need for their home improvement and building projects. As
they are a retail business, customer service is of particular importance. Terrible customer
service will not attract new customers or encourage repeat business. The business customers
that Lowes hopes to attract expect excellent service and Lowes must continue to maintain its
customer focus in order to succeed in its efforts to grow in Canada.
2. Geographic Growth: In order for the Canadian branch of Lowes to prosper in a highly
competitive marketplace, the company must continue with its expansion efforts and extend its
geographic reach in this country.
3. Level of Risk: There is a certain level of risk when expanding a business into a new and fiercely
competitive market. It is high risk/high reward situation. Since the goal of Lowes is to increase
its profits and market share, the company must not be reluctant to take risks when making
important business decisions.
4. Employee Growth & Satisfaction: One of Lowes main strengths must continue to be its people.
Employees are the companys ambassadors to the buying public and if when the company
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makes it a priority to ensure that its employees are well-trained and looked after, it encourages
employees enthusiasm for work and leads to a higher level of service provided to customers.
5. Corporate Social Responsibility: In todays marketplace, a companys commitment to the
communities it operates in is vital to its image in the eyes of customers. A socially responsible
business is one that other businesses who share similar values will want to work with.
Alternatives
List of alternatives as applied to Lowes:
1. Status Quo leaving the things as they are.
2. Position Lowes as the contractors supplier of choice.
3. Create an ongoing business relationship/strategic alliance with major housing
developers.
4. Positions Lowes as an exclusive supplier to trade schools.
5. Work in collaboration with interior designers for installation services.
1. Status Quo: leaving things as they are
Primary Target Market
o The consumer market
Positioning Statement
o Lowes is a home improvement store that offers numerous products and
installation services for the consumer who seeks quality installation services and
products at reasonable price. Unlike Canadian Tire, our prices are at the low end
of the competitive market.
Marketing Mix
o Product
Low cost installation services and home renovation products.
o Promotion
Weekly flyers delivered to homes in surrounding areas.
Providing posters, coupons, and word-of-mouth promotions in-store.
Online advertising on the company web site as well as banner
advertisements others.
o Distribution
Customer cash and carry method available.
Purchase delivery available upon request.
o Price
Both the installation services and products are offered at competitive
prices.
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2. Position Lowes as the contractors supplier of choice
Primary Target Market
o Home building and renovation contractors
Positioning Statement
o Lowes is a home improvement store that offers a vast selection of products and
supplies for contractors who seek reasonable prices for home renovation
products and supplies. Unlike Home Hardware, our prices are lower, our
selection is superior, and we offer numerous benefits to contractors loyal to
Lowes.
Marketing Mix
o Product
Various low cost home renovation products such as power tools, drywall,
lumber, paint and tiles. In addition to kitchen and bath fixtures such as
lights, sinks, toilets, faucets, counter tops, mirrors and drawer handles.
o Promotion
Exclusive limited-time discounts to contractors.
Have a Contractor Open-House in areas where Lowes stores are
located to introduce contractors to Lowes and show/demonstrate/explain
why doing business with Lowes is the best choice.
Newsletters and flyers designed specifically for contractors.
Create a specialized link on the Lowes website for contractors use only
enabling them to view products, sales, and exclusive offers.
Set up a company booth at trade shows.
o Distribution
Delivery service to job sites upon request; delivery charges at an
exclusive contractor rate
Contractor cash and carry method available.
o Price
Continue with special contractor pricing that will encompass the existing
Volume Pricing system. (the more you buy, the more you save)
Enact a loyalty program similar to the Home Depot Contractor Plus
program which allows contractors to collect and redeem points for store
gift cards. This program should reward contractors for their business by
allowing them to collect points at a faster rate than Home Depot. At
present, there does not appear to be any such program at Lowes.
Financial Elements
o $22.8B in renovation costs in 2010 (Canada Mortgage and Housing Corporation.
Renovation and Home Purchase Report- 2010)
o 41% of households that did renovations in 2010 hired contractor to do the work
(CMHC)
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3. Create an ongoing business relationship/strategic alliance with major housing
developers
Primary Target Market
o Home developers such as Minto Group, Claridge Homes, Richcraft, and others
Positioning Statement
o Lowes is a major home improvement retailer that sells all materials, supplies,
appliances, and fixtures required by developers for new home construction who
expect these products to be reasonably priced and of the highest quality. Unlike
Home Hardware, our prices are lower, our selection is superior, and we offer
numerous benefits to developers who partner with Lowes.
Marketing Mix
o Product
Building materials required in home construction such as lumber, drywall,
insulation, fixtures and appliances, as well as personalized service
through our Sales Specialists who will act as Account Managers.
o Promotion
Marketing directly to developers by:
Preparing and sending out preliminary promotional packages.
Invite company representatives to an Open House to see the
range of products, and meet the Sales Specialists.
Arrange appointments with potential clients to make detailed
presentations regarding business plans, representation, ordering
and delivery of materials, and pricing.
Reach out to organizations such as the Canadian Home Builders
Association
o Distribution
Delivery service to job sites upon request at an exclusively discounted
rate.
Cash and carry method available for workers who need smaller amounts
of materials and supplies
o Price
Volume Pricing (the more you buy, the more you save).
Financial Elements
o Flatbed Delivery Trucks: 10 would be required to deliver certain materials for the
job site. The expected cost would be at least $250,000 for these flatbed trucks.
o The cost of the sales team would be around $20,000/month
o Insurance and maintenance would cost $10,000/month
o 193,950 new housing starts in Canada in 2011
o 163,312 of these houses were in Canadas four most populous provinces
(Ontario, Quebec, Alberta, and British Columbia)
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4. Position Lowes as an exclusive supplier to trade schools
Primary Target Market
o Building and construction trade schools
Positioning Statement
o Lowes is a major home improvement retailer that sells all materials required in
construction for trade schools that need reasonably priced, quality products.
Unlike Home Hardware, our prices are lower, our selection is superior, and we
offer discounts to our loyal customers.
Marketing Mix
o Product
Building materials required for students to learn and practice their chosen
trades, including wood, nails, power tools, lumber, and fixtures.
o Promotion
Go directly to the schools and negotiate deals with the purchasing
department and other stakeholders.
o Distribution
Offering delivery service.
o Price
Volume Pricing (the more you buy, the more you save).
Donating materials will also have to be considered.
5. Work in collaboration with interior designers for installation services
Primary Target Market
o Interior designers
Positioning Statement
o Lowes is a home improvement store that offers numerous installation services at
competitive prices with a wide variety of products available for designers who
seek quality installation services at affordable prices with a large selection of
products. Unlike Home Depot, our contractors retain ongoing collaboration with
interior designers providing superior security.
Marketing Mix
o Product
Low cost installation services and home renovation products.
o Promotion
Online advertising on home improvement websites.
Clear and easy-to-use applications on the Lowes website.
o Distribution
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Lowes will provide cost-competitive home improvement installations and
products in collaboration with interior designers to consumers.
o Price
Cost will vary given the type of installation, but through collaborative
efforts the final costs will be significantly lower than competitors.
Analysis of Alternatives
Evaluative Criteria
Weighted
Value
Valued Amount
Status
Quo
Contractors
Housing
Developers
Trade
Schools
Interior
Designers
Customer Service 0.30
(0.30*7)
2.1
(0.30*9)
2.7
(0.30*9)
2.7
(0.30*5)
1.5
(0.30*6)
1.8
Geographic Growth 0.25
(0.25*8)
2.0
(0.25*8)
2.0
(0.25*8)
2.0
(0.25*5)
1.25
(0.25*4)
1.0
Level of Risk 0.20
(0.20*3)
0.65
(0.20*7)
1.4
(0.20*8)
1.6
(0.20*6)
1.2
(0.20*5)
1.0
Employee
Growth/Satisfaction
0.15
(0.15*4)
0.6
(0.15*7)
1.05
(0.15*4)
0.6
(0.15*5)
0.75
(0.15*5)
0.75
Corporate/Social
Responsibility
0.10
(0.1*5)
0.5
(0.1*7)
0.7
(0.1*8)
0.8
(0.1*8)
0.8
(0.1*6)
0.6
Total 1.00 5.85 7.85 7.70 5.50 5.15
Evaluative Criteria were applied to each Alternative based on the potential for reward or benefit
on a scale of 1 to 10. Lowest potential for reward or benefit was 1 and highest was 10.
Alternative #1: Status Quo
Advantages
o Continuing to serve the consumer market will continue to bring in profits
o No changes will be required
o No costs incurred or money spent
o No risks are involved
Disadvantages
o Not enough Lowes locations in Canada for consumers to shop at
Alternative #2: Contractors
Advantages
o Contractors perform the majority of home renovation/improvement work in
Canada, and there remains a strong market for this work in Canada; most home
renovation contractors are independent business owners who need the
assistance of a reseller such as Lowes to purchase materials
Disadvantages
o Independent contractors as Lowes business customers might be considered to
be too small; many contractors already have relationships with competitors such
as Home Depot and would not consider any other options for their materials and
supply needs
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Alternative #3: Developers
Advantages
o The potential profit margin is huge. Developers build new homes by the dozen,
often by the hundreds. Relationships with developers could be very lucrative for
Lowes and help to bring the company more credibility in the marketplace.
Disadvantages
o Developers may not order materials and supplies from a reseller like Lowes,
they may choose to buy wholesale directly from manufacturers; they might not
necessarily consider who offers the best quality products and service, but rather
who offers the best quote or price.
Alternative #4: Trade Schools
Advantages
o Dealing with schools will introduce students to Lowes before they begin working
in their chosen fields, leading to an established relationship; working with and
helping schools could enhance Lowes corporate image
o Make Lowes Canada more well known in the community
Disadvantages
o Schools may prefer an arrangement that specifies donated as opposed to
purchased materials; given their educational status, schools may seek a deeply
discounted rate
Alternative #5: Interior Designers
Advantages
o Redesigning and redecorating often goes hand-in-hand with renovation;
designers must source supplies such as paint, wallpaper, lighting, cabinets, and
other materials
Disadvantages
o The market is not as big as some others; some designers prefer more exclusivity
than a major name like Lowes can offer
Decision and Justification
True North Consulting has decided that Lowes best choice would be to target building
contractors. Targeting a contractors market will provide a consistent source of short and long-
term profits. Contractor companies all across Canada will need basic building supplies such as
cabinets, drywall, and fixtures. One of Lowes opportunities is expanding internationally. Having
Lowes expand its company makes it easier for contractors to make their purchases.
Another opportunity that Lowes has is a growing market for online shopping. Lowes would be
able to gain more contractors through online expansion and it would make it easier to purchase
supplies.
Lowes provides a wide and differing variety of products. Since they have such a vast selection,
contractors will be enticed to purchase from them. By expanding online, there is potential to
offer even more items that the stores are not able to hold.
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Contractors offer dependable business. They provide a constant demand for supplies and have
different types of jobs throughout the year, given the season, providing Lowes with constant
business.
If Lowes does target business contractors, they will need more stores so contractors can
purchase their supplies and materials, thus making it more convenient for the contractors to do
business with them.
Lowes had $1 billion in sales in 1982 and $48.8 billion in sales in 2010, giving them a 35.14%
gross margin. This proves that they are a solid investment for any contractor to do business
with. They are increasing their sales exponentially. There is a large volume of potential small
business contractors that could work with Lowes in Canada, giving them a large amount of
capital. Once the contractors experience the effort that Lowes puts into their customers
satisfaction, they will want to continue to do business with them.
Implementation
As explained in the decision and justification, Lowes marketing strategy is to position
themselves as the contractors supplier of choice. The following plans explain the steps to
effectively implement this strategy. This will help convert Lowes Canada to a business-to-
business market.
Marketing Research: Both primary and secondary research must be conducted in order
to ascertain the volume of contractors in a given area, properly identify all potential
customers, identify the products most commonly purchased by contractors, as well as to
find the most successful and efficient way to serve said contractors.
Product/Service Changes: Lowes will be expanding its contractor service area in order
to make the purchasing experience as quick and successful as possible. This will include
hiring more, knowledgeable employees that will be able to provide personalized
purchasing assistance. Also, as contractors purchase in bulk, Lowes delivery services
will need to be expanded as well.
Price Strategy: Lowes will implement a value-based pricing strategy in order to
persuade contractors to choose them over the competition. They will accomplish this by
adjusting the Volume Pricing system already in place in order to appeal to contractors,
providing special prices to patrons of the store, and creating a delivery program that
offers delivery service at a discounted price for contractors.
Communications Plan: Lowes will create an easy-to-use link on the Lowes website
specifically catered to the needs of the contractor. They will also step up a contractor
open-house, offering promotional sales, in order to introduce contractors to their
business methods.
Distribution Plan: Lowes will improve the functionality of their current website by
offering online purchasing with discounted delivery for contractors, as well as creating an
efficient in-store contractor service area.
Appendix B The following is a timeline for the previous implementations to be carried
out.
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First Quarter Implementation Plan
Steps Tactic to Implement Who When Why Where
1
Begin research on
contractors in the given
area, products to focus
on, and service needs.
Director of
Marketing
Research
Week 1
Sept. 2012
To identify
customer volume
and needs.
Lowes
Canada
head office
in Toronto
2
Hire and train personnel
for the improved
contractor service area
and the delivery
department.
Human
Resources
Manager
Month 1
Sept. 1/12
Sept.30/12
To improve
contractor
service both in
store and on site.
At all 32
Canadian
Lowes
locations
3
Implement contractor
service changes.
All Store
Managers and
the Lowes.ca
design team
Month 2
Oct. 1/12
Oct. 31/12
To establish
strong contractor
service
At all 32
Canadian
Lowes
locations
4
Increase contractor
customer base.
Sales
Representatives
Month 3
Nov. 1/12
Nov. 30/12
To generate a
customer base
and provide
information on
product s and
services needed.
At all 32
Canadian
Lowes
locations
5
Obtain feedback from
contractors.
Director of
Marketing
Research and
Sales
Representatives
Month 4
Dec. 1/12
Dec. 31/12
To ensure high
quality service
and customer
satisfaction.
At all 32
Canadian
Lowes
locations
with focus
at the
Toronto
head office.
Second Quarter Implementation Plan
Steps Tactic to Implement Who When Why Where
1
Increase contractor
customer base.
Sales
Representatives
Months 4-6
Dec. 1/12
Feb. 28/13
To generate a
customer base
and provide
information on
product s and
services needed.
At all 32
Canadian
Lowes
locations
2
Obtain feedback from
contractors.
Sales
Representatives
Months 4-6
Dec. 1/12
Feb. 28/13
To ensure high
quality service
and customer
satisfaction.
At all 32
Canadian
Lowes
locations.
Implementation Plan for the Remainder of the Year
Steps Tactic to Implement Who When Why Where
1
Increase contractor
customer base.
Sales
Representatives
Months 7-12
Mar. 1/13
Aug. 31/13
To generate a
customer base
and provide
information on
product s and
services needed.
At all 32
Canadian
Lowes
locations
2
Obtain feedback from
contractors.
Sales
Representatives
Months 7-12
Mar. 1/13
Aug. 31/13
To ensure high
quality service
and customer
satisfaction.
At all 32
Canadian
Lowes
locations.
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