An exploration of Best Buy's marketing strategies.
Written in 2009; 1,864 words; 1 sources; MLA; $ 59.95
Paper Summary:
The paper describes the marketing vision and tactics of Best Buy and looks at the market share of their consumer electronics and appliances, entertainment products and services and business electronics. The paper then looks at the company's strategy of competitive pricing and its system of product promotion and marketing promotions. Finally, the paper discusses Best Buy's expansion into the international sector and relates that the trust that it places within its national branches gives it a competitive and organizational advantage over other companies.
Outline:
Overview
Marketing Position
Products
Price
Promotion
Place
From the Paper:
"In the fiscal year 2004, Best Buy had an average of over 1.5 million customers visits their retail outlets per day. Their marketing policy is not to limit themselves to a specific customer group as other retailers such as Fry's and CompUSA have done but rather to keep a diverse outlook on customer base. Therefore they do not have a significant concentration of sales with any individual customer and the loss of any one customer will not have a material impact on their business. Best Buy's marketing vision is to create an atmosphere of fun and simplicity for customers when they think of the concept of Best Buy retailers. By bringing technology and consumers together in a retail environment that focuses on educating consumers on the features and benefits of technology and entertainment."
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