Best Buy Case

Best Buy Case - Best Buy Case Best Buy was previously...

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Best Buy Case Best Buy was previously called Sound of Music but when a tornado destroyed its flagship store and they were forced to hold a “best buy” sale to liquidate all of its products so that they could repair the store. The sale was so successful that the name Best Buy stuck and in 1984 they opened their first superstore. After 9 years they passed Circuit City as the number one retailer in their segment. They offer over 25,000 items for sale that include video games, stereos, movies, cd’s and more. They also have roughly 600 locations nationwide and intend to open 60 more locations a year every year in the near future. They possess 16 percent of the $130 billion dollar North American electronics market but have a rising competitor in Wal-Mart who is only 5% behind them. That along with the downward pressure of on prices in their particular market has led Best Buy to search for other ways of generating revenue including selling more upscale items, staying open later, and outsourcing lower end products to China. They have also started Bestbuy.com
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This note was uploaded on 04/17/2008 for the course MGT 400 taught by Professor Bruce during the Spring '08 term at Gettysburg.

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Best Buy Case - Best Buy Case Best Buy was previously...

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