Best Buy Co., Inc. Lynae Rambousek Shu Fang (Jenny) Abdullahi Ainab Gunbilegt Byambadorj.
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Transcript of Best Buy Co., Inc. Lynae Rambousek Shu Fang (Jenny) Abdullahi Ainab Gunbilegt Byambadorj.
![Page 1: Best Buy Co., Inc. Lynae Rambousek Shu Fang (Jenny) Abdullahi Ainab Gunbilegt Byambadorj.](https://reader034.fdocuments.net/reader034/viewer/2022051401/56649e105503460f94afbfb9/html5/thumbnails/1.jpg)
Best Buy Co., Inc
.
Lynae RambousekShu Fang (Jenny) Abdullahi AinabGunbilegt Byambadorj
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History
1966 – First established as Sound of Music.
1984-1987 – Grew rapidly
2000 – Entered into Ecommerce market.
2002 – Bought Geek Squad which gave Best
Buy advantage in customer support.
2004 – announced as company of the year.
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Current And Future Profile
Leader in innovation and quality
Europe, Canada, China, USA, and Mexico
earning $45 billion annually
Going to benefit from rapidly increasing E-
commerce.
Opening many more stores
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SWOT
Strength
Brand Awareness
Strong market Presence
Strong Customer Service
Weakness
Few Suppliers
Opportunity
Growth in E-tailing
Threat
Economic Crisis
Low Quality
Products
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Unique Sales Strategy
Attract Customers
Maintain and Acquire Customers
Build Relationships
Stand Out
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Unique Sales Strategy
No Commission
Channel Conflict
Physical vs. Online Stores
Minimize Channel Conflict
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Unique Sales Strategy
Geek Squad
Builds relationship with customer
Customer support, intelligent agent
Installations, repairs, services, and set ups
Reassurance and confidence for customer
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Unique Sales Strategy
User Friendly Website
Locate stores
View weekly sales and ads
Outlet Center
Hot deals
Access Savings
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Unique Sales Strategy
Small Business Center
Offers specific business products
Technology solutions
Advise on best suited products
Specific small business software
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Unique Sales Strategy
Reward Zone & Credit Card
Earn points for every dollar spent
Special offers and promotions
Redeem points for cash
Use cash back to purchase more products
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Unique Sales Strategy
Maintain Connection with Customer
Forums
IdeaX
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Market Value
The compound
annual growth
rate of the
sector in the
period 2004-
2008 was
6.3%.
Computer & Electronics Retail Industry
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Computer & Electronics Retail Industry
Market Segmentation
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Market Share
Computer & Electronics Retail Industry
3
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Competitors
Wal-Mart Stores, Inc.
American public corporation
Wal-Mart Stores U.S., Sam's Club &
Wal-Mart International
By 2010, 8,416 subsidiaries, in 15 countries
Withdrawals from Germany & South Korea
Loss in China’s market
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Compete with
The lowest prices on electronics this holiday season?
The best selection of electronics this holiday season?
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Competitors
Sears, Roebuck and Co.
American chain of Department stores
The largest retailer in the U. S. by the mid-
20th century
Sears Holdings Corporation in 2005
>860 mall-based stores in America,
>1200 other sites worldwide.
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Store Dec. 2008
Dec. 2009 +/-
Best Buy 29.8% 33.1% 3.3
Sears 1.6% 2.0% 0.4
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Competitors
J &R Electronics Inc.
Vast selection of top electronic goods
Catalogues and JR.com (launched in 1998)
"Retailer-of-the-Year" awards.
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Competition Advantages
Low, Low Prices
Online Rebate Coupons and Offers
Customer Service
Geared for Individual
&Corporate Requirements
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Recommendation
Short-term
Increase manufacture Warranties and
Protection Plans
Create local Geek Squads Blog
Invite Customers to the Blog
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Long-term
Expand their Market
Reduce Hierarchy
Price Reduction
Recommendation
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Thank you
Any Questions??