Best Buy Case Review






Best Buy Case Review

MAN105_4_20150323M_OL_Marketing
April 11, 2015

Best Buy Case Review
Best Buy is currently the number one seller of consumer electronics in the United States and is quickly becoming a world leader in the industry. Products sold at the store range from home appliances to computers as well as a multitude of other personal electronics and media products. The company’s annual income exceeds 45 billion USD according to Yahoo finance (Yahoo finance, 2009). Currently Best Buy is one of the few remaining consumer electronics retailers. Having lost its major competitor Circuit City in 2009, Best Buys now considers its major competitors to be Wal-Mart and Target, both department stores which simply have an electronics section. Do you agree with the strategy Best Buy has adopted to respond to its competitors? Why or why not? Yes, I agree to the strategy that Best Buy has adopted to respond to its competitors. If I wanted to buy something as simple as an electronic coffee maker I would go to Wal-Mart, but when it comes to buying high technical multi-function printer, I would consider going to Best Buy. Even though they are planning on selling upscale and higher margin merchandise, they do have highly trained sales “consultants” to help with the complex expensive purchase. In order for Best Buy to stay on top of the market, they have to provide the extra service with the best quality merchandise. What are the components of Best Buy's retail mix - First component, they offer array of different products (it stores have nearly 25,000 separate items) at affordable prices. They also offer installation on some of the products you buy, plus maintenance service technical support, and subscription on cell phones and internet services. Second component is the proper location. Best Buy stores are usually located in a small to medium size outdoor shopping centers. The third component is their promotion strategy. Best Buy’s television commercials...