Promotional campaign project extra credit
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Transcript of Promotional campaign project extra credit
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Perfect 10 AgencyMargaret LawsonHannah HickmanJasmine Milligan
Jennifer HamiltonDavondra Jones
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Where do you prefer to shop for electronics?
– Amazon: Text 14935– Best Buy: Text 14936– Apple: Text 14961– Other: Text 9957
• Text to 22333• http://www.polleverywhere.com/multiple_choice_polls/MTk
5NDY4NzY0NQ
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Why do you prefer this retailer?– Customer Service: Text 16146– Product Assortment: Text 16183– Price: Text 16199– Other: Text 16230
• Text to 22333• http://
www.polleverywhere.com/multiple_choice_polls/LTE4MzA1MzAyMjM
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Brief Overview of the Company
• The company founded by Richard M. Schulze in St. Paul, MN in the 1960’s
• Originally named “Sound of Music”, and started out selling car/home stereos.
• In 1983, “Sound of Music”, was coined the name “Best Buy” and further product/store expansion ensued.
• The company gains it main revenue from home/office electronics, software, appliances and other services (Geek Squad).
• Today the company operates over 1,100 stores worldwide and employs around 180,000 associates
• The company relies on customer centricity to keep business.
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• “Big Box” store environment• Geek Squad (store-within-
store)• Price Matching• Uniformity (electronics)• 18 month financial plan
Strengths Weaknesses
• Competitive Pricing• Online Retailers• Customer Service• Non-commissioned based
pay for employees
SWOT Analysis• Redesign store exterior/interior
• Better employee training/ uniforms• Commission based pay• More interactive media• Online site redesign • Radio/Magazine ads
• Mass merchants• Online Retailers• Competitions Pricing
Opportunities Threats
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Competitors
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Positioning MapHigh Quality
Low Quality
Low Quality
High Quality
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Target Market
• Generation Y – 1980-2000
• Baby Boomers– 1946-1964
- Specifically: • tech savvy
individuals• Small business
owners• Surrounding families
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Message Strategy• Customer Centricity:• How the customer is treated before,
during and after the sale.
“Make all consumers feel welcome regardless of their knowledge of technology, while building that connection/trust with consumers and having an energetic/informative staff.”
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Best Buy’s Current Promotional Strategy
Best Buy’s Social Technology Strategy• http://
www.youtube.com/watch?v=whzN-7uCiZw• “Buy back program”• Price matching in store• Buy online-pick up in store• Best Buy card– No interest for 18 months
• “Weekly offers”/ “Deals of the day” online
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New Promotional Strategy
• Promote through different media channels including radio and magazine advertisements.
• Give coupons and discounts for students and to Baby Boomers– 10% off entire purchase with student ID or AARP card.
• Limited time promotions for back to school and major holidays– Back to School, Black Friday, Christmas
• Focus will be placed on different cities with the population of our target markets– Major college towns– Major retirement communities
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Media Strategy
Create brand recognition and broaden the consumer knowledge that our brand is for the
everyday consumer. • Magazine Advertisement• Interactive Advertisement• 2 Special Events• Radio Advertisement
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Magazine Advertisement
• Generation Y– Highlight the newest technologies and student
discounts• Fitness • Glamour • Men’s Health
• Baby Boomer– Highlight the fun and ease of retirement
• AARP• Better Homes and Garden• Ladies Home Journal
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Interactive Advertisement
• “The Wish List”– Show us what you want!– Christmas/ Graduation– Take a pic
• Instagram• Facebook• Twitter
– Reward $$$
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Special Event
Movie Night• Promote through:– Flyers– E-mails to Best Buy card members
• Showcase new products– Movies– 3D Televisions– Etc.
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Special Event
Tutorial Class• Educate the consumer about the newest products• Offer discounts to participants• Similar to:– Home Depot
• Weekly Workshops
– Apple Genius Bar• http://www.youtube.com/watch?v=xqQaQ98eRAo
• Connect to the consumer
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Which special event would you be more likely to attend?
– Tutorial Event: Text 20621– Movie Night: Text 21182– I would not be interested in either: Text 21381
• Text to 22333• http://
www.polleverywhere.com/multiple_choice_polls/MjkzMDQ0NDE0
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Radio Advertisement
• Radio advertisements will be on a pulsing schedule. Continuous scheduling and a flighting schedule during the holiday season.
• Generation Y– Highlight student discounts and special events
• Kiss FM• The Edge
• Baby Boomer– Highlight special events and customer service
• NPR• The Ticket
• http://www.youtube.com/watch?v=AvC6pZ12TO4
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Evaluation
• Analytics– surveys
• In house Feedback– Manager conference calls– Live chats– E-mails
• Observations– Overall performance• regional and individually
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Questions?
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References• Best Buy Inc (n.d.) http://www.BestBuy.com• Goodson, M. (2011) Is Brand Loyalty the Core to Apple’s Success? Forbes Retrieved from:
www.forbes.com/sites/marketshare/2011/11/27/is-brand-loyalty-the-core-to-apples-success-2/HBS Review (2010) Inside Best Buy’s Customer Centric Strategy BloomBergBusinessWeek
• Retrieved from: http://www.businessweek.com/managing/content/apr2010/ca20100413_286655.htm• Boyle, M. (2006) Best Buy’s giant Gamble CNNMoney Retrived from:
www.money.cnn.com/magazines/fortune/fortune_archive/2006/04/03/8373034/index.htm• Pederson, J. (2004) International Directory of Company Histories: Best Buy• Perry, M. (2011) Walmart: The Most Successful Retailer in History Retrieved from:
http://www.dailymarkets.com/economy/2011/07/18/walmart-the-most-successful-retailer-in-history/• Poeter, D. (2011) Infographic: The Secret to Amazon’s Success Retrieved from: http://www.pcmag.com/article2/0,2817,2396634,00.asp• Coran, Terry. (2011). Common Spending Habits of College Students. Retrieved from
http://www.brighthub.com/education/college/articles/80305.aspx• Desjardins, Eric and Deris, Johanna. (n.d). SOCIAL NETWORKING USAGE AND GRADES AMONG COLLEGE STUDENTS. Retrieved from
http://www.unh.edu/news/docs/UNHsocialmedia.pdf• Marketing Charts Staff. (2007). Survey: To Reach College Students, Brands Need to Use Internet. Retrieved from
http://www.marketingcharts.com/wp/television/survey-to-reach-college-students-brands-need-to-use-internet-1389/• State University. (n.d.) College Extracurricular Activities - Impact on Students, Types of Extracurricular Activities. Retrieved from
http://education.stateuniversity.com/pages/1855/College-Extracurricular-Activities.html• U.S. Department of Education, National Center for Education Statistics. (2012). Digest of Education Statistics, 2011 (NCES 2012-001),
Chapter 3 . Retrieved from http://nces.ed.gov/fastfacts/display.asp?id=98• Wilson, M.O. (1927). The American Journal of Psychology. Vol. 38, No. 3, pp. 409-417 Published by: University of Illinois Press Article
Stable URL: http://www.jstor.org/stable/1415009• (n.d.). Retrieved November 14, 2012, from 2012 Factbrowser.com: www.factbrowser.com• Yip, P. (2012, August 10). Baby Boomers make a plum marketing target. Retrieved from www.dallasnews.com