Elements of a marketing plan

Elements of a marketing plan - Running head ELEMENTS OF A...

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Running head: ELEMENTS OF A MARKETING PLAN 1 Elements of a Marketing Plan Gustavo Pérez MKT/421 Marketing January 28, 2016 Luis Rios Silva
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ELEMENTS OF A MARKETING PLAN 2 Elements of a Marketing Plan On June 16 1994, with just $200, Robert Stephens founded what we know today as the Geek Squad. Stephens saw this demand for electronics help, and quickly realized that people will pay a lot of money for the convenience of not having to read lengthy owner’s manuals. In 2002, Best Buy purchased Geek Squad. They saw an opportunity for major company growth, as people were returning electronics simply because they were unfamiliar with the technology. Today, every Best Buy store has a Geek Squad inside, available for 24 hour help. Geek Squad became part of the electronics purchase. Customers could now buy electronics, give them to Geek Squad to set them up to the customers’ liking, and take them home hassle-free. Having Geek Squad as part of the purchase eliminates the need for customers to hire a third party to help with installing software, removing viruses, and the like. Social trends, cultural changes, and electronic social communities all contributed to the need for advanced technology, which in turn created the need for Geek Squad. Social media is a huge part of society today, especially within Generations X and Y, making the latest technology an asset. Smartphones play a significant role in social media, as social platforms such as Twitter, Facebook, and LinkedIn are becoming increasingly important means of communication, as well as social activism. New technology, while marketed as user-friendly, is sometimes hard to understand. Services such as Geek Squad assist users and make the transition into new electronics a smooth one. The baby boomers are also a target market for Geek Squad because they did not grow up with new technology like younger generations, making technology even more difficult to understand. Geek Squad explains technology and its uses in an easy to follow manner. Geek
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