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Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
Rm project  best buy v2
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Rm project best buy v2

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  • 1. Retailer View:
    Best Buy
    Date: 18-Jun-2010
    Instructor: Prof. Rajesh Srivastava
    Presented as part of EPGP 2009-10 Retail Management Course
    Presented by Group I
    Mandeepak Singh Tarandeep Singh Rajendra Inani Saravanan Logu & Vivek Edlebadkar
  • 2. Discussion Areas
  • 3. Retailer Profile
    Retailer Type: Specialty retailer (Electronics Retailer)
    Target Market: TBD
    Products
    Sells consumer electronics
    Home appliances (washing machines, dryers, and refrigerators)
    A/V for Automobiles Department
    Services
    Computer repair and warranty service and accidental service plans (Geek Squad )
    Onsite installation of auto A/V parts
    Highlights
    Sales people are not on commission.
    Policy of Results Only Work Environment
    Policy of No expensive gifts from vendors / customers to employees
  • 4. Corporate Profile
  • 5. History & Background
  • 6. Subsidiaries & Brands
  • 7. Location & Site
    Best Buy building exteriors
    Usually light brown in color
    The entrance look like a blue box emerging from the rest of the structure
    Older stores have a more utilitarian brick building without the blue structure.
    Best Buy is sometimes called the "big blue box" because of the prominent design on Best Buy stores. This store is located in East Palo Alto, California.
  • 8. Future Shop store in Halifax, Nova Scotia
  • 9. Best Buy Store located in Shanghai, China
  • 10. Best Buy in Durham, North Carolina
  • 11. Best Buy Store in Edmonton, Alberta
  • 12.
    • Geek Squad® Agents and Installers are ready to take the hassle out of your technology woes. They have the know-how and skill to set up, install or repair your computer, network, home theater solution and car audio, video and navigation systems, no matter where you bought your gear.
  • Best Buy: The Every-Day-Is-Saturday Model
    Philosophy: We’re all adults here. Work is not a place you go, it’s something you do, so there’s no reason for the company to dictate when and where employees work. Managers look solely at results produced, not hours spent at a desk or in meetings.
    Org Hierarchy: Traditional. Some things don’t need to change.
  • 13. Store Design
    House Colors:
    Blue, Yellow
    Logo:
    Yellow Tag
    Signature Façade
    Ample parking
    Easy access from Highways
    Convenient Store Hours (Extended store hours on Weekends and Holiday period)
  • 14. Store Layout
    Store Layout:
    Mix and Match of Loop, Free Form and Grid
    No Clutter
    Wide aisles
    Danglers
    End Caps
    Proper Lighting
    Experience Zones (HD TV, High-end speakers & Games)
  • 15. Store Layout for Geek Squad
    Use of brand specific colors
  • 16. Vending Machines & In-store Kiosks
    Best Buy Express:
  • 17. Merchandising Management
    Best Buy's switch to vendor-managed inventory is not moving as quickly or aggressively as planned
    It aimed to close its warehouse and have shelf-ready product shipped directly to stores, with vendors assisting in inventory management
    Independent labels are still not able to provide that though big brands are ready for it
  • 18. Merchandising Management
    Best Buy International Deploys Predictix Merchandise Financial Planning and Item Planning software
    Key benefits of the Predictix planning applications include:
    Merchandise Financial Planning:
    Item Planning: Complete visibility to top-down plans allows a more precise Open to Buy;
    It also provides the ability to plan purchase order quantity and auto-execute to Best Buy’s SAP enterprise application with no re-keying.
    Consistent Planning Processes: Predictix is a disciplined, end-to-end planning process.
  • 19. Pricing Strategy
    Pricing for Purpose
    Every product on shelf in Best Buy falls under certain segment for pricing.
    Each segment is priced for a purpose.
    For example core category such as flat-screen televisions is priced to maximize total revenue;
    Where as items that are designed to drive traffic into the store, such as DVD players, are priced more aggressively in order to drive unit sales
  • 20. Pricing Strategy
    Match the Price
    This is to drive out competition in times of online purchase where consumer forums and sites gives a user instant lowest prices for a product
    Best Buy tries to match the lowest price offered by any retailer on an exactly same product
    The online price of Best Buy.com at times is lower than store prices. On store they would match the price provided the item is in stock at that particular store.
  • 21. Pricing Strategy
    Fees on return goods
    Best Buy has began enforcing a restocking fee of 15% of the purchase price on returned merchandise.
    And to discourage customers who return items with the intention of repurchasing them at an "open-box" discount, it is experimenting with reselling returned items online.
  • 22. Communication Mix
    Best Buy ensures that all of the components of its communication mix are aligned and conveying the same message in the same way to its customers and target audience.
    Best Buy Express a new way to communicate
  • 23. Talent Management
    • Notable Perks: Trust. No one judges where you are or how you’re getting your work done.
    • 24. Evaluations: Customer driven. Along with your manager, the customer is in the best position to know how well you’re delivering results.
    • 25. Career Development: Merit-based promotions. In a results-only environment, schmoozing the boss won’t get you anywhere.
    • 26. Work-Life Balance: Unlimited paid vacation. If you get your work done, what you do with the rest of your time is up to you.Where It Works: Best for offices rather than retail or manufacturing floors.
  • Reward Program
    • Receive the same perks as the Reward Zone program membership, plus...
    • 27. Earn 2 points per $1 spent on qualifying purchases at all U.S. Best Buy stores and at BestBuy.com.
    • 28. Earn 1 point per $2 spent on purchases outside of Best Buy, plus bonus category purchases in dining and groceries at 1 point per $1 spent*.
    • 29. No fees
    • 30. Earn 1 point for nearly every $1 spent and redeem reward certificates at all U.S. Best Buy® stores and at BestBuy.com®.
    • 31. Take advantage of member-only promotions and offers, including a special reward during your birthday month.
  • How the Reward Zone® Program Works
  • 32. Earn More Points
  • 33. Earn More Points
  • 34. Competitors
  • 35. Positioning Map – Feedback V/S Customer Service
  • 36. Positioning Map – Store Customization V/S Product Feedback
  • 37. Green Readiness
  • 38. Choose …
  • 39. Use …
  • 40. Reuse …
  • 41. Web 2.0 - Wiki
    Employees use wiki to share ,edit information and search for knowledge
  • 42. Best Buy – User Community
  • 43. Watercooler Discussion
    Employees can discuss work related topics, create subgroups and subscribe to discussions
  • 44. Tag Trade
    Group Participation can help to get the decisions better
  • 45. BSN mx
    Used for Information Sharing
  • 46. Financial Ratios
  • 47. Supply Chain
    Audit & Rating of factories and 3rd party manufacturers
    Electronics Industry Citizenship Coalition (EICC)
    Global social compliance program (GSCP)
    Supplier diversity (Women & Minority supplier)
    Goods Not For Resale program
    Ethisphere names Best Buy to 2010 list of “World’s Most Ethical Companies”
  • 48. Multi-Channel Retailing
    E-Tailing
    Bestbuy.com,Magnoliaav.com,GeekSquad.com etc,
    Mobile
    View Promotion, Play Games & Purchase
    International expansion
    Europe, China, Japan, Mexico & UK (recently)
    Outlet cenetr
    Other brand stores (Magnolia, AudioVision,…)
    Special B2B sites
    Best buy for business
    Best buy for education &
    Best buy for business
  • 49. Other areas
    Best Buy Remix
    Forum that provides tools and interfaces for developers who use the products that are sold at BBY
    Co-creation
    IDEAX-a forum, where customers can share their ideas for Best Buy
    Facebook
    Twelpforce
    Strategic partnership with leading manufacturers
    Panasonic (exclusive launch of 3D HD TV in BBY’s New York Store)
    Sony
    Canon
  • 50. THANKS

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