Phase iv agency final report

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Phase iv agency final report

  1. 1. Perfect 10 AgencyPromotional Campaign Project Phase IVMDSE 3850.001November 18, 2012 1. Overview 1.1 Executive Overview Best Buy is an electronics retailer that is being slowly overcome by online retailers. BestBuy‟s annual revenues in 2011 were fifty billion dollars and are projected for 2013 to be fortynine billion dollars. This decrease in sales has been linked to the availability of new technologieson-line. Best Buy will need to increase their sales with a new promotional strategy or will findthemselves at the fate of bankruptcy. 1.2 Overview This promotional strategy will be put in place to help save Best Buy from bankruptcy. With anew promotional and marketing strategy Best Buy will try to promote themselves to an olderdemographic like Baby Boomers and the „first timers‟ of large purchases like Generation Y.Through the use of different promotional avenues such as a refreshed magazine articles anddifferent special events, Best Buy will bring in new clientele and save their declining business. 2. Situational Analysis 2.1 Cultural Context The cultural characteristic of Best Buy that would pertain to the market is its focus oncustomer centricity. Best Buy caters to specific customers in the market and target favoredshoppers to come back more often. This characteristic helps Best Buy align stores andresearchers comb through reams of sales and demographic data to determine whether a particularlocation should be tailored to” (Boyle, 2006). This aspect sells solutions to the market rather thanjust products. 2.2 Historical Context Best Buy started in the 1960‟s but was originally named “Sound of Music.” The companyfounded by Richard M. Schulze in St. Paul, MN, started out having a primary focus on home andcar stereos. As demand for inventory grew, first year sales totaled up to $173,000. (Pederson,2004) The electronic retail powerhouse expanded their inventory to more appliances whichgained 9.3 million in revenue by 1982. By 1983, Sound of Music was given the official name,“Best Buy.” This was just the beginning, throughout the 1980‟s Best Buy soared in sales and by1993 sales reached another whopping 1.6 billion. (Pederson, 2004) The company then expandedin size and introduced larger concept stores across the nation. Much of the 90‟s consisted of thestore expanding and eventually buying out Musicland Stores Corporation by 2001. This buy outgained Best Buy over 1,300 music stores and further expansion continued. (Pederson, 2004)Theinnovative hands-on electronic aspect made consumers flock in thousands and after reaching 10billion in sales, Best Buy re-launched their official website. Even with competition such asCircuit City, Best Buy certainly had the edge over the competition. After Circuit City had toclose down due to bankruptcy, Best Buy continued to flourish. The company didn‟t really gainmuch out of the bankruptcy as expected, but remained constant in sales. Today the companyoperates over 1,100 stores worldwide and employs around 180,000 associates. (Pederson, 2004)Though Best Buy has a copious amount of success stories, as time went on, the companyencountered some setbacks. As technology grew, sales started to slip and continue to not do so
  2. 2. well today. The increase in online purchasing and other mass market merchants have contributedto Best Buy‟s significant loss. Recently, Best Buy has had to get rid of CEO Brian Dunn andwith new chief; sales continue to decline. Today the company offers various home/office electronics, software, appliances andother services. These are the main categories that bring in the company‟s revenue. The “bigbox” retailer has multiple superstores ranging from 20,000 to 45,000 square feet (BestBuy.com,n.d.). The products vary from laptops, cameras, phones, DVDs, CDs, washer/dryers, TVs andmany other electronics. They also have the store within a store addition named Geek Squad thatattracts many consumers. Best Buy takes pride in price matching and offering affordableelectronics for consumers. The placement involves narrow isles with shelves or hooks of itemsstacked upon each other. The placement also entails a showroom style display of merchandise oncertain items such as laptops, notebooks, cellphones and cameras. As far as pricing goes, it is notvery competitive. The retailer engages in price matching but pricing is just about the same as itscompetition. There are many promotion and deals that the company offers. These include, “dealof the day” and no interest financing for 18 months when applying for a Best Buy card. There arediscounts for students in school, discounts on certain cameras, HD TV‟s and free shipping whenordering online. They have “weekly offers”, where there are more deals on movies, computers,phones, cameras etc. These offers include different sale pricing ($50 off all Samsung phones)and promotes things such as a” free 8x8 photo book with purchase of digital camera orcamcorder” (BestBuy.com, n.d.). Best buy also has the order online, pick up in store option thatmay be easier for certain consumers who don‟t want to wait on delivery. Best Buy strengths include its “big box” store environment leaving the consumer withendless choices. The Geek Squad center located in most Best Buy stores is where customers canget their electronics fixed. The in-store environment of Best Buy has some hands-on electronicsthat continue to lure in the consumer to actually experience the merchandise. The company alsohas a genuine trust in consumers to accommodate price matching and offers an 18 monthfinancial payment plan on certain merchandise. There is a relevant uniformity in that all itemsare either electronic, electronic related, or appliances. The fact that the company is a specialtyretailer lures in the customers who have a demand for this exact merchandise, rather than havingto search for it at a mass merchant. Though Best Buy has great promotions and deals, there arestill a few weaknesses. One weakness would be the fact that they do not engage very much intocompetitive pricing. This is a major problem with huge mass merchants and online retailersoffering lower prices. Thus, leading to the next weakness, online retailing is taking a largeportion of their consumers. Sites like Amazon and EBay are big online merchants that offerdiscount pricing on new and used electronics. Some consumers will even go to Best Buy just toget the hands-on feel of the item but end up purchasing it for cheaper online. The company alsodoes not have the best customer service. A reason for this could be because the employees arenot offered commission whatsoever. This could be the reason employees are not as motivated tosell and or even offer top customer service. Though Best Buy has plummeted, it has not fullysunken yet. The opportunities for this retailer are endless and can still be implemented. They canincrease the in-store experience by redesigning the store front and interior. The fact that theyhave barely changed over the years is not working with the ever-changing world of technologytoday. A new, chic innovative remodel will attract customers as Apple has done in the past.Adding different, unique features to the merchandise set up and store can help lure in differenttypes of consumers of this generation. More interactive rooms will be added to create a more Perfect 10 Agency: 2
  3. 3. comfortable feel for consumers and so consumer can experience various products. Anothermarketing opportunity could be better employee training and uniforms. People want to knowthey are being helped by professionals and looking like one would not hurt the company. Thecustomer service should be a high quality and employees need to be more than informative. Thiscould be completed by offering the employees commission and rewards for bringing in thecompany sales. These employees will help give tutorials on how certain items are used in thenew innovative interactive rooms that will be implemented. Besides testing out new items, therewill also be days where customers get to watch a movie in 3D to experience Best Buy‟s productselection. These special promotions will lure customers to learn more about products they aren‟tsure about. As far as further promotion, interactive media could be used to implement a wish listevent during special occasions like graduation or certain holidays. To receive discounts all thecustomer would have to do is take a picture with an item they desire. Since social sites areextremely popular, the consumer would upload their picture to BBY‟s Twitter, Facebook orInstagram. This way, the customer is receiving benefits and so is Best Buy by that interactionand increased awareness. This will certainly increase consumer spending and that positivereinforcement will keep the customer coming back. The online site also could use moreimprovement since online retail has increased tremendously over the years. This site needs to beredesigned, have unique features and more easily navigable. To gain even more brand awarenessthe company could also engage in radio advertisement and magazine advertisements. This is tomarket to a specific age group such as Baby Boomers and Gen Y. This will also be a greatopportunity for the retailer to make consumers aware of the new deals and changes Best Buy willbe implementing. The magazine advertisements will display everything from new items in store,promote sales and show customers engaged in the new interactive rooms in the store. The threatsto BBY obviously are the mass merchants such as Wal-Mart, Target, innovative Apple stores andvarious online stores. These merchants are indeed a big part of why Best Buy has seen betterdays. Another threat is their competitions pricing. It is hard to price match every single itemwithout losing too much revenue and online retailers are surpassing BBY when it comes topricing. If consumers believe they are paying for an item of better quality, they will sacrifice theextra dollar(s). 2.3 Industry Analysis Best Buy has to implement a strategy to make all consumers feel welcome regardless of theirknowledge of technology, build that connection/trust with consumers and haveenergetic/informative staff. The consumer characteristics and demands for the product categoryvary. The consumer wants a more personalized service and a unique deliverance to ordinaryproducts. When there is too much of one product, it becomes clutter and consumers are lookingfor something that stands out. The demand for more hands-on and testing interactive productswill never cease and the in-store experience can never be replaced. The consumers of today areseeking customized and technologically advanced items. 2.4 Market Analysis The companies target market regarding the marketing plan would be tech savvy individualsand suburban families. Stores like Apple and Wal-Mart do so well because one caters to the techsavvy, new generation and the other caters to families in the area. The individual customer wouldbe a major target to create specialized service for specialized products. Best Buy also has storesoutside of the US contributing to an international consumer base. The main marketing strategy is Perfect 10 Agency: 3
  4. 4. expanding the brand even more store wise and truly being more customer centric. This means“Its about understanding what problems customers face in their lives and then providingmutually advantageous solutions” (HBS Review, 2010). BBY wants the consumer to receive toptier service and understand that they are actually trying to also view the enterprise from theconsumers view. Building that personalized connection is vital to the Best Buy marketing plan. Due to the constant decline in sales at BBY, it is clear that the company needs to take adifferent route. The demand for electronics is still there but there is reason consumers arechoosing other retailers rather than Best Buy. The competitive situation that is driving thepromotional strategy is the companies pricing, store look, service and online site. These are alllagging behind compared to the competition. The major competitors consist of Wal-Mart, Apple,Target, Amazon, EBay and other various retailers. Amazon and EBay are doing well due to thestrong power of ecommerce in today‟s world. Amazon is actually the number one e-tailer in theworld. “It has web sales 5 times more than Wal-Mart, Target and Buy.com web sales combined”(Poeter, 2011). EBay, another big ecommerce retailer implements unique features like biddingon an item as if in an auction and there is also the “buy it now” option. Wal-Mart‟s everyday lowprices and catering to families across the nation have made the company extremely prosperous.The huge supercenter has merchandise varying from groceries to even hardware. The key to theirsuccess is their competitive pricing and the easy access to items of many different genres. “In2010, American consumers bought almost as much merchandise at low-priced Wal-Mart ($307.7billion in U.S. retail sales) as they purchased from the next five largest U.S. retailers combined($324.5 billion): Kroger ($78.3 billion), Target ($65.8 billion), Walgreen ($61.2 billion), HomeDepot ($60.1 billion) and Costco ($58.9 billion)” (Perry, 2011). The progression of Wal-Marthas caused it to be one of the most successful retailers in history. Target also carries out a similarfloor set to Wal-Mart. The stores success comes from its varying merchandise and trendyclothing sections. Target can be considered a step up from Wal-Mart depending on the consumer.Lastly, Apple also has gained the respect of consumers worldwide and is also another successfulretailer. Apple has developed a very strong and loyal customer base. Apple users are very hard toswitch and the chic, hip marketing campaign is to be accredited for that. “By creating anemotional connection with its customers, Apple has done the near impossible – it has acquired aloyal following” (Goodson, 2011). The new, sleek and cutting edge technological advancesleave consumers anticipating new features of different Apple products. Today Wal-Mart, Target,Apple, Amazon and EBay continue to be leading retailers in many individuals of Americahouseholds. 2.5 Competitor Analysis The market is extremely competitive because the items Best Buy sells are now everywhereand readily available. This means the items are also not hard to access at brick & mortar storesand purchasing is now only a click away. It is very hard to break though such a competitivemarket without offering something new and unique to consumers. A new marketing strategywould indeed help with what has been hindering the company recently and ensure constantrevenue. The opportunities at hand need to be taken advantage of and BBY will be the samepowerhouse it was years ago. In this generation, not all stores can depend on their name to carrythem through, a company in today‟s world has to be steps ahead its competitors and innovativeenough to keep that same consumer coming back. Perfect 10 Agency: 4
  5. 5. 3. Objectives Best Buy‟s new promotional strategy‟ quantitative benchmark will be to increase the sales byspecific demographics. “Best Buys market share of the US consumer electronics market is” at41%. (2012 Factbrowser.com) With this promotional plan Best Buy plans on increasing that to45% by the end of next year. Best Buy plans to continue that increase by 2-5% yearly to steadilyclimb back to number one. In order for Best Buy to measure this expected increase the advertising and statisticsdepartments will work closely together. By measuring one month, three months, six months andtwelve months from the time the first promotional tactic is used Best Buy will be able to set thebar for how much sales increase by each category. Another measuring tool that will be used willbe Best Buys own employees. By polling them before these new tactics are in place andconsistinly speaking with them as the efforts play out, Best Buy will be able to measure theeffectiveness of these tactics from the people that interact with our target markets on a dailybasis, in store. The time frame for these promotional tactics will be quite different. After Best Buy‟s specialevents they will be able to know if sales increase on the items shown by a simple end of day printout. Managers can then send these results to corporate for further analyzing. As far as the otherpromotional tactics, time can only tell. With the month schedule that has been laid out, Best Buywill be able to monitor sales increases quad-yearly. 4. Strategy 4.1 Market Segmentation The target consumer of our new promotional campaign will be college students and recentcollege graduates. Enrollment in degree-granting institutions increased by 11 percent between1990 and 2000. “The percentage of American college students who are Hispanic, Asian/PacificIslander, and Black has been increasing. From 1976 to 2010, the percentage of Hispanic studentsrose from 3 percent to 13 percent, the percentage of Asian/Pacific Islander students rose from 2percent to 6 percent, and the percentage of Black students rose from 9 percent to 14 percent.During the same period, the percentage of White students fell from 83 percent to 61 percent.Race/ethnicity is not reported for nonresident aliens, who made up 2 percent and 3 percent oftotal enrollment in 1976 and 2010, respectively” (IES, 2012). Best Buy‟s other target consumerwill be Baby Boomers. Baby Boomers are a growing market that advertisers should not beignoring. According to Patricia Lipp Davis, the vice president of AARP‟s Media Sales Group,“In the last 12 months, 47 percent of consumer goods and services were purchased by people 50and older, to the tune of $2.7 trillion.” (Yip, 2012) Within the target market we decided to emphasize Best Buy‟s original target market more oncollege students, post graduates and Baby Boomers .It is the main purpose to analyze theinterests of the target markets, as indicated by their selection of courses, their job selection andtheir retirement plans. Determining the psychographics is also indicative of what involvementthey have within their universities and communities. The importance of psychographics includesthe emphasis of setting and community, extracurricular activity involvement provides a setting tobecome involved and to interact with other students or their communities , by identifying with a Perfect 10 Agency: 5
  6. 6. peer group, that group may influence their social circle affective and cognitive development aswell as their behavior so this can include their purchasing behavior. The typical age for college students used to be eighteen to twenty-one. Today more studentsare in their mid-twenties and work part time jobs. This creates a larger amount of disposableincome for college students and the stereotypical, starving student, doesn‟t apply like it did a fewyears ago. Although ramen noodles isn‟t the staple of a college students diet, college studentsspending habits still focus on food. Over 11 billion dollars was spent on snacks and beverageslast year alone. Even though most college students are on meal plans, but a great portion of theirspending habits go toward eating out. Students today spend over one hundred dollars a month oncoffee alone (Caron, 2011). Next to food, college students spend a great deal of money on hightech gadgets and devices. Over 90 percent of college students have a desktop or a laptopcomputer. Of this 90 percent, 65 percent have broadband internet connections (Caron, 2011).This, along with television, cable, cellular phones and their plans, iPods, and other gadgetsabsorb a significant amount of a college student‟s disposable income. But spending money onadditional upgrades and additional music or apps can put further demands on a college student‟salready limited budget (Caron, 2011). According to Burst Media, 69.1% of male collegestudents spend $250 or more in a typical month on personal items, compared with 50.2% offemale college students who do so. 46.7% will purchase casual clothing for school, with femalessomewhat more likely than males saying they will do so: 50.2% vs. 43.8% (Marketing ChartsStaff, 2007). But laptops and cell phones are the tech products that college students will purchasemost before school. Baby Boomers have this in common with these students and post graduatesin the way that they too have disposable income and are looking for an avenue to spend it. “Theirbrand loyalty is almost non-existent, older adults like to try new things. In fact, that‟s one of thethings that boomers pride themselves on is trying new things.” (Yip, 2012) With this openmarket Best Buy has the opportunity to swoop in and start a new trend of building brand loyaltywith Baby Boomers. College students spend more time with the internet than other media, 33.0% spend more than10 hours per week online, and 19.6% spend more than 20 hours per week online. However, just16.6% watch more than 10 hours per week of television (Marketing Charts Staff, 2007). Andonly 5.5% listen to terrestrial/satellite radio more than 10 hours per week. Students are onlineeven when watching television or listening to the radio, 50.6% surf the web while watching TV.43.5% are online while listening to terrestrial/satellite radio (Marketing Charts Staff, 2007).Students use the internet to keep in touch and be entertained, instant messaging is the mostpopular online activity with both male (62.3%) and female (57.2%) college students (MarketingCharts Staff, 2007). Next are downloading music/MP3 files (53.3%), and pursuing school/workactivities (51.7%). Those are followed by playing online games (47.7%), reading entertainmentnews/gossip (46.2%), listening to internet radio (44.5%), reading local/national/internationalnews (44.2%), viewing, streaming video content (42.6%). Males are more like than females toview streaming video (49.3% vs. 34.3%). Females are more likely than males to research healthinfo (32.8% vs. 21.7%) (Marketing Charts Staff, 2007). Another part of our target consumer‟smedia habits is social media; the highest percentage of what social media college students use isFacebook at 96 percent. YouTube comes in second with 84 percent. Other media such as, Blogs(20%), Twitter (14%), MySpace (12%), and LinkedIn (10%) are the last in what social mediacollege students tend to use (Deris and Desjardins, n.d.). By using this target market we will giveBest Buy a deeper access into what Generation Y and Baby Boomers purchases and how much Perfect 10 Agency: 6
  7. 7. they do use technology and how Baby Boomers are starting to use more technologies than thosethat usually shop with Best Buy. 4.2 Positioning Strategy Generation Y and Baby Boomers: Positioning Map Amazon Best Buy Apple Inc. Wal-Mart  Target (other)  Radio Shack (other) 4.3 Brand Communication The message that will be communicated to the target consumer is that our brand is for theeveryday consumer. Not just a Generation Y consumer or a Baby Boomer can get technologythat “fits” their needs. The characteristics of Best Buy as mentioned in section 2.1, Best Buycater to specific customers in the market and target shoppers to come back more often. Thisaspect sells solutions to the market rather than just products. (Boyle, 2006) With the array ofproducts that Best Buy has to offer, Best Buy takes pride in price matching and offeringaffordable electronics for consumers. Even though this particular factor may not concern theBaby Boomer generation it is very much a weighing factor for Generation Y consumers. BestBuy is a retailer with a “big box” store environment which leaves the consumer with endlesschoices along with helpful and knowledgeable employees. Best Buy gives the consumer handson experiences, technology support, and technological expertise. Perfect 10 Agency: 7
  8. 8. 5. Execution Promotional Tactic: Radio Advertisement The radio advertisement will be geared toward Baby Boomers and generation „Y‟. Thisadvertisement will emphasize Best Buy‟s commitment to their customer, highlighting theirstudent discounts and their upcoming special promotions. This advertisement will be broadcaston radio stations that are specific to the target market Best Buy will be trying to reach. Forexample the Generation „Y‟ market will be advertised on stations like Kiss FM and The Edgewhich has a younger listening audience. For the Baby Boomers, more talk radio shows willbroadcast this advertisement like NPR and the Ticket. These affiliate stations will be able tospecifically target the ideal market for Best Buy. It will showcase Best Buy‟s ability to connectwith and answer any questions the consumer may have. By pulling people into thisadvertisement it will draw more consumers into Best Buy to make a purchase, rather than simplyusing Best Buy as a stop before the purchase is made at an online retailer. Using radioadvertising is key to Best Buy because Best Buy wants to target specific groups of people.Continuous scheduling will be utilized for this advertisement. Best Buy will then put thisadvertisement on a flighting schedule during the holiday season. Resulting in a pulsingadvertising schedule will be most beneficial to reach the target markets. By using this form ofadvertising Best Buy can segment their markets more accurately and can advertise to a particularconsumer base. Promotional Tactic: Magazine Advertisement The magazine advertisement will be utilized in many different types of magazines toattain Best Buy‟s new target market. This advertisement will appeal to Baby Boomers and theGeneration Y age groups. Magazines that will be utilized for appealing to the Baby Boomers willinclude AARP, Better Homes and Gardens and Ladies Home Journal. By reaching these BabyBoomers through this advertisement Best Buy will acquire this group of society that has moneysaved and ready to spend. Magazines that will be utilized to attract the Generation Y age groupwill include Fitness, Glamour and Men‟s Health. The article for the Baby Boomers willemphasize an older couple enjoying life. It will highlight that the time for work is done andretirement is fun and has its perks. One perk being that money can be spent on more things likethe items offered at Best Buy. The magazine article for generation Y will emphasize the best newtechnologies and the deals that one can receive by shopping at Best Buy. This article willhighlight Best Buy‟s student discounts which will highly appeal to this generation. Generation Yare in college or have recently graduated, by highlighting the deals a college student can receiveand emphasizing the newest technologies for the best prices for the graduates, this article willappeal to both. With the diverse spectrum that these magazines are able to reach Best Buy will beable to generalize their markets to promote to these individual groups. Promotional Tactic: Special/Promotional Event While Best Buy is looking to move away from their large super stores in the near future, theyare still their central location of sales. People go in and out of the brick and mortar stores,playing with the cameras, checking out the 3D TVs and getting a closer look at the new iPads,but have a tendency to go home and buy the products online for a lesser price then Best Buy canoffer. To keep people coming into the store, and actually buying the products, Best Buy should Perfect 10 Agency: 8
  9. 9. host special events that involve and teach their customers about their products in a way that justlooking at them can‟t. The first group of special events Best Buy should hold is tutorials on how to use the veryinvolved products that they sell, such as cameras, and the photo editing software, as well as themany digital photo viewing options to get people involved with the whole photography package.They could have their teams of highly trained staff hold workshops to explain how to use notonly cameras, but cell phones, tablets and their many gaming systems that they sell. A portion ofthe store could be set aside for such events, in order to give people a focused environment tolearn everything there is to know about a product and the many additional products that can bepaired with it in order to enhance not only their buying experience, but also their ownershipexperience. These zones in each store will have tables with stools, much like the Genius Bar ofthe apple store, so that people can sit comfortably while the staff engages them in learning howto use the products they are considering buying. These events will be held on weekends,promoted through direct emails to their customers enrolled in their rewards programs as well assignage placed at the front of the store informing customers of the upcoming events. With BestBuy‟s employees already so informed on all of these products the timing for this event would beshort. Best Buy would just need the signage and e-mails sent and these special events couldbegin almost immediately. Promotional Tactic: Special/Promotional Event Best Buy could have movie nights, letting people see what watching a movie in 3D athome would really be like. A 3D television is a big-ticket item, which is still very new to theconsumer, and might not be perceived as a good long-term purchase. Coinciding with holidaysor big movie releases, Best Buy could hold an afterhour‟s movie viewing event, showcasing theirnewest 3D, or even just HD, TVs. People will get an opportunity to experience the TVs as wellas build a positive relationship with Best Buy. This special event will require more time tocreate. Best Buy needs to build rooms with oversized chairs and sofas that this event can be heldin. This event will take time and preparation, an average of 12-14 months is a reasonableestimate on when this could be accomplished. Although this will be pricey and time ridden itwould be worth it overall by building a relationship with their consumers. Promotional Tactic: Interactive Advertisement Best Buy would promote an interactive media “Wish list” event coinciding with popularshopping times such as Christmas and graduation. During this event customers would beencouraged to go into the store and take a picture of or with a product they would like to haveand describe why they want this item. It would then be uploaded to the Bestbuy‟s Facebookpage, Twitter, or Instagram. After doing this the customer will be rewarded with an entirepurchase discount of $10, $30, or $50 dollars off their next purchase within a certain time frame.This will attract more attention to the products available and alert people to what items andbrands are popular buys. Implementing this interactive media event will also help retain moreconsumers because they will be more likely to buy when they are going to save money throughdiscounts. As a result more customers will buy directly from Best Buy instead of competitorslike Amazon which has become a major threat due to show rooming. Perfect 10 Agency: 9
  10. 10. 6. Evaluation The results of the new changes implemented at Best But retailers will be evaluated usingsurveys, direct manger feedback, and by analyzing the impacts of the promotions on sales. Thesurveys will be made available to consumers through the company‟s facebook page, and willalso be printed on every receipt. This will help Best Buy to better understand what the customerslike about the new promotions, and make them more aware of how each promotion can befurther improved. Feedback directly from every Best Buy manager will also be a vital tool usedto evaluate how successful the new promotions have been. This will be done through conferencecalls and live chats. Lastly, every month Best Buy will analyze the sales of each store to examinehow the promotions have affected sales by reviewing in store and online purchases andpromotional discount usage. Perfect 10 Agency: 10
  11. 11. 7. Reference ListBest Buy Inc (n.d.) http://www.BestBuy.comGoodson, M. (2011) Is Brand Loyalty the Core to Apple‟s Success? Forbes Retrievedfrom: 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 StrategyBloomBergBusinessWeek Retrieved from:http://www.businessweek.com/managing/content/apr2010/ca20100413_286655.htmBoyle, M. (2006) Best Buy‟s giant Gamble CNNMoney Retrived from:www.money.cnn.com/magazines/fortune/fortune_archive/2006/04/03/8373034/index.htmPederson, J. (2004) International Directory of Company Histories: Best BuyPerry, 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.aspCoran, Terry. (2011). Common Spending Habits of College Students. Retrieved fromhttp://www.brighthub.com/education/college/articles/80305.aspxDesjardins, Eric and Deris, Johanna. (n.d). SOCIAL NETWORKING USAGE ANDGRADES AMONG COLLEGE STUDENTS. Retrieved fromhttp://www.unh.edu/news/docs/UNHsocialmedia.pdfMarketing Charts Staff. (2007). Survey: To Reach College Students, Brands Need to UseInternet. 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 ofExtracurricular Activities. Retrieved fromhttp://education.stateuniversity.com/pages/1855/College-Extracurricular-Activities.htmlU.S. Department of Education, National Center for Education Statistics. (2012). Digest ofEducation Statistics, 2011 (NCES 2012-001), Chapter 3 . Retrieved fromhttp://nces.ed.gov/fastfacts/display.asp?id=98Wilson, M.O. (1927). The American Journal of Psychology. Vol. 38, No. 3, pp. 409-417Published 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.comYip, P. (2012, August 10). Baby Boomers make a plum marketing target. Retrieved fromwww.dallasnews.com Perfect 10 Agency: 11
  12. 12. Perfect 10 Agency: 12

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