Study of Best Buy, its marketing strategy, competitors, recommendations.

2. AMERICAN MULTINATIONAL CONSUMER
ELECTRONICS CORPORATION.

3. THE COMPANY WAS FOUNDED BY
RICHARD M. SCHULZE &
GARY SMOLIAK on 22 AUG 1966
AS AN AUDIO SPECIALITY STORE.

4. TO GIVE OUR CUSTOMERS GREAT EXPERIENCES WHETHER THEY
ARE SHOPPING FOR CONSUMER ELECTRONICS, HOME OR OFFICE PRODUCTS,
ENTERTAINMENT SOFTWARE AND APPLIANCES, OR USING THOSE PRODUCTS
AND RELATED SERVICES IN THEIR HOMES AND OFFICE.

7. RICHARD SCHULZE NAMED RETAILER OF THE YEAR FOR 3 CONSECUTIVE YEARS BY
CONSUMER ELECTRONICS AND AUDIO VIDEO INTERNATIONAL MAGAZINES.
MEMBER OF TOP 100 STORE RETAILERS ONCE.
MEMBER OF TOP-50 LIST OF LARGEST GREEN-POWER PURCHASER
AT U.S ENVIRONMENTAL PROTECTION AGENCY.
MILESTONES….

8. GREEN TOGETHER
•RECYCLABLE PACKAGING.
•PROPER DISPOSAL OF ELECTRONICS COMPONENTS.

9. STRENGTH
•Sales.
•Niche Marketing.
•Strong Returns.
WEAKNESS
•Reliance on domestic sales.
• Website isn’t as
user friendly as it could be.
OPPORTUNITY
•Globalization.
•Expansion of PC market.
•Craze for gadgets
THREATS
•Intense Competition.
•Rental Retailers.
•Lack of long-term contracts.
SWOT ANALYSIS:

10. MARKETING DECISIONS TO BE TAKEN….

13. SERVICES PROVIDED TO CUSTOMER.

17. HOW ELSE CAN BEST BUY COMPETE AGAINST RETAIL COMPETITORS LIKE WALMART AND
COSTCO AS WELL AS ONLINE COMPETITORS LIKE AMAZON.COM?
•BETTER IN-STORE AND
AFTER PURCHASE SERVICE TO CUSTOMERS.
•EFFICIENT USER-FRIENDLY WEBSITE.
•SOLVING CUSTOMER COMPLAINTS AND QUERIES.
•EFFICIENT PROMOTION OF BRAND BY ADS OR
SOCIAL MEDIA.

18. WHAT WERE THE KEYS TO BEST BUY’S SUCCESS? WHAT ARE THE CHALLENGES IT FACES
IN TODAY’SRETAIL ENVIRONMENT?
•BETTER SERVICES TO SATISFY CUSTOMERS.
•STORE DESIGN AS PER CUSTOMER CONVINIENCE.
•SERVICES.
•COMPARISON IN PRICES.
•PROMOTION STRATEGY.

19. RECOMMENDATIONS:
•MORE USER-FRIENDLY SITES.
•PROPER TRAINING FOR NEW EMPLOYEES.
•PROPER SERVICES TO CUSTOMERS.
•INSTATNT REPLY OF QUERIES AND COMPLAINTS.
•EFFICIENT ADVERTISEMENTS.

20. SUMMARY:
ABOUT BEST BUY.
SWOT ANALYSIS.
MARKETING DECISIONS.
MARKETING STRATEGY TO INFLUENCE TARGET CUSTOMERS.
COMPETITORS.
RECOMMENDATIONS.

21. CREATED BY MAMTA SAROJ, NIT SURAT, DURING A MARKETING INTERNSHIP UNDER
PROF. SAMEER MATHUR, IIM LUCKNOW.