MRKT 5000 Week 3 Case Assignment Analysis

MRKT 5000 Week 3 Case Assignment Analysis - BEST BUY...

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BEST BUY UNCOVERS ANGELS IN THE MARKET Lakisah Mikell Week 3 Case Analysis Assignment MRKT 5000
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Case Summary Best Buy is a retailer of consumer electronics, home office products, entertainment software, appliances, and other related services. They operate in a very highly competitive consumer electronics retail industry and they compete against other electronic retailers and consumer alternatives. Because of such a competitive industry, Best Buy has fine tuned its research methods by employing a database system that collects information from customers through transactions and other various methods. Through this system, Best Buy was able to develop five key market segments through their newly developed “customer centric” model. This model gives Best Buy the ability to further develop their customer relationship management techniques by focusing on their market segments needs and catering to them. Also, this newly developed model will give Best Buy the opportunity to expand its stores in other locations where they can target new markets. Key Marketing Terms Database – A collection of information arranged for easy access and retrieval. Marketing Research – The systematic design, collection, interpretation, and reporting of information to help marketers solve specific problems or take advantage of marketing opportunities. Market
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MRKT 5000 Week 3 Case Assignment Analysis - BEST BUY...

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