Best Buy Strategy
Best Buy Current Strategy
Best Buy Co. Inc. is a global retailer that produces technology and entertainment products and services across the globe. The company incorporated in 1966 in the state of Minnesota and today it is operating in U.S., Europe, Canada, China and Mexico. Best Buy controls a collection of retail stores and websites under eleven brand names.
Target Market
Best Buy mostly targets the individual consumers, which Best Buy divides in to three main areas; rich suburban families, trend setting urban individuals and closely linked families of Middle America. Majority of the Best Buy's consumers are Americans; however, the international customers also made a good contribution to the revenue few years back.
Best Buy currently operating in four continents provides following range of products and services:
Consumer electronics: It is the largest product category providing audio equipments, television sets, audio players, DVD players etc.
Entertainment software: CDs, DVD movies, video game hardware etc.
3. Home office products: Computers, calculators, cellular phones etc.
4. Appliances: Air conditioners, washing machines, refrigerators etc.
5. Installing and repairing computers and related services
Competitors
Since last several years, Circuit City is the direct competitor of Best Buy and is the second largest electronics retailer after Best Buy. However, Circuit City also suffered from huge financial losses due to which they were force to do liquidation in 2009. Best Buy was able to take around 40% of Circuit City's market share after this incident.
The indirect competitors of Best Buy are more in number; these include:
Wal-Mart and Target which are discount retailers but not specialized in electronics
Dell, Amazon.com and other online retailers
Office supply stores; OfficeMax, Office Depot, Staples etc.
Retailers that provide home improvement such as Home Depot
Software stores
Retail...
BEST BUY CO. INC. STRATEGIC ANALYSIS Strategic Analysis of Best Buy Current situation A- Current performance B- Strategic posture Corporate Governance A- Board of directors B- Top management External Environment: Opportunities and threats A- Natural physical environment B- Societal Environment C- Task Environment D- Summary of external environment Internal Environment: Strengths and Weakness A- Corporate Structure B- Corporate Culture C- Corporate resources D- Summary of internal environment Analysis of Strategic Factors (SWOT) A- Situational Analysis Strategic Alternatives and Recommended Strategy A- Strategic Alternatives Recommended Strategy Implementation Evaluations and control Part II Functional and Business strategies of
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There is little reason to believe that the upside is going to be sufficiently high to place a "buy" rating on the stock. Returns are likely to be either in line or below what the beta implies unless Best Buy is able to find new ways to grow. More likely, it will be subject to increased competition from its major competitors and will be forced to cut margins further in
"Bricks-and-mortar" vs. "clicks-and-mortar": An equilibrium analysis. " European Journal of Operational Research 187.3 (2008): 671. Bala Chakravarthy, Peter Lorange. "Continuous renewal, and how Best Buy did it. " Strategy & Leadership 35.6 (2007): 4-11. Elizabeth Gibson, Andy Billings. "Best practices at Best Buy: a turnaround strategy " The Journal of Business Strategy 24.6 (2003): 10-16. Erik Gruenwedel. "Best Buy Q4 Sales Grow, Profit Dips. " Home Media Magazine 30 Mar. 2009: 3. James
Best Buy Inc. Stock Evaluation Analysis Best Buy is the largest specialty retailer of consumer electronics in the U.S., selling a variety of brands of electronic devices such as TVs, home theater systems, cameras, appliances, computers, mobile phones, video games, software, and repair & installation services to consumers across the country under different store brands (Trefis, 2014). The company has over eleven hundred brick and mortar stores in the U.S. And also
The orchestration of all aspects of B2B marketing is significantly more complex and challenging as well, a point shown in the discussions. The researchers did find enough causality to create a model of value-driven marketing, and it does show that only through a continual focus and auditing of customer needs will B2B marketing reach the levels of performance in B2C markets (Leek, Christodoulides, 2012). There are also many limitations
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