BB Compilation

BB Compilation - Company Definition Best Buy is a retailer...

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Company Definition Best Buy is a retailer for a wide range of technological goods. The company sells a variety of brands in consumer electronics, home appliances, and associated accessories such as: computers, software, hardware, video games, music, DVDs, Blu-ray discs, mobile phones, digital cameras, and car stereos. A large share of their product portfolio is centered on entertainment with products such as TVs, audio systems, games, and music. Entertainment- related product sales are greater than other product areas such as home-office products and appliances. Best Buy operates a growing number of Best Buy Mobile stores in the US, in which customers are offered a wide selection of cell phones, as well as a range of services comparable to phone carrier stores, “ including but not limited to a number transfer machine, warranty service on any phone, loaner phones, and the most popular carriers.” Best Buy also offers the services of the Geek Squad, a technical service crew found at each Best Buy location that offers computer-related support to customers; this has been a highly successful concept and has allowed Best Buy to rise above other tech stores in reputation by providing a richer, more fulfilling shopping experience. The two developed an interesting relationship where Best Buy started as a channel for the Geek Squad. With this partnership, Geek Squad was able publicize its name while simultaneously attracting customers to Best Buy for the new service This distribution strategy was so successful that Best Buy decided to acquire Geek Squad in 2002. Best Buy’s acclaimed services make the brand not just a reliable retailer but also one that has created a holistic shopping experience. In terms of the Porters Value Chain, Best Buy’s primary core competency is service whereas the competition (Wal-Mart) excels at inbound and outbound logistics and operations.
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Thus Best Buy should continue to focus on developing support activities like HR management and its infrastructure, which adds to its core culture that has differentiated the brand. The drivers of uniqueness for the company are the interrelationships it builds with customers and suppliers. Because of this companies trust Best Buy; for example, Best Buy was the first to distribute Apple products outside Apple stores. Category Definition and Analysis Best Buy falls in to the consumer electronics provider category. The consumer electronics industry is characterized by equipment that is used on a daily basis. Products that are considered consumer electronics include personal computers, MP3 players, televisions, calculators, digital cameras, GPS navigation systems, and video media. Currently, the industry is dominated by Japanese and South Korean companies such as Sony, Panasonic, and Samsung. The Consumer Electronics Association (CEA) reported an 8% revenue drop in 2009 from
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This note was uploaded on 02/27/2012 for the course BUSI 407 taught by Professor Bowen during the Spring '11 term at UNC.

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BB Compilation - Company Definition Best Buy is a retailer...

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