Mpotter_Analyzing Best Buy_042511

Mpotter_Analyzing Best Buy_042511 - customer base This...

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Analyzing Best Buy Page 1 Analyzing Best Buy Melissa Potter Rasmussen College B460/Strategic Management April 25, 2011
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Analyzing Best Buy Page 2 Matthew Schigur One of the fastest growing markets and the most changing market is in electronics. By entering this market, Best Buy is sure to have to continually reassess their products, their customer base, and the market. Best Buy has already implemented providing something that their contenders do not, servicing the equipment that they sell. The company does have an opportunity to globalize their business. There are many countries that are just entering the global market and many countries that are new customers in electronics. I think that Best Buy should consider expanding into the global market more than they currently have. I also think that by reducing the size of their stores, they would be better able to expand into new areas and making their products more available to a broader
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Unformatted text preview: customer base. This would put them into the running closer with Wal-Mart by adding locations, even if they are smaller. One of the biggest threats to Best Buy is the ability to move their electronics quickly since technology changes every day. Keeping current technological inventories while still having the product available on their shelves is a challenge. Another threat to Best Buy is the ability to offer lower prices than their competitors. They need to continue to analyze external factors to anticipate changing trends (Coulter, 2008, pg. 94). Analyzing Best Buy Page 3 References Coulter, M. (2008). The context of managing strategically. In Strategic management in action (F4th ed., pp. 35-62). Upper Saddle, NJ: Prentice Hall. (Original work published 1998)...
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Mpotter_Analyzing Best Buy_042511 - customer base This...

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