Best Buy Notes 2.25

Best Buy Notes 2.25 - WALMART After circuit city crashed...

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WALMART After circuit city crashed Wider aisles, More displays, More interactive, Hot to get items Uses dominance in global market place – huge consumer base (but electronics for under 50,000) Highly efficient, can bargain down prices – offer floor space as bargaining tool Stigma with some stuff? Walmart gaining electronics buyers – mom heavy clientele Best Buy: discounted refurbished stuff Riskier purchases Online movie music UPSCALE? Warranty system – peace of mind that quality. Psychological quality. AMAZON Tech sales = 60 percent of total profit Growing, expanding into touch screen technology Shift in product mix: profit margins expected to narrow, leaning towards more tech stuff Future of industry: Industry neutral, electronics driven by hot products; predicts .6 percent raise in electronics sales Increased adoption of digital products will boost market: buying music online, ebooks, Netflix Increase in convergence in industry – protable devices that make it easy to access entertainment Seasonal Fluctuations: Black Friday, Cyber Monday, After Christmas, Labor Day Trends: Micromarket and customer centricity Ppl shopping for price and style versus functionality SWOT Best Buy Strengths
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Tech savvy, customer service, professional, customer centricity, individual brands, wider selection, brand association, warranty, quality, week squad, wide selection, stronger brands, good rep with vendors Weaknesses Higher prices, wait time in store (vs. online), narrow products as a whole (vs. walmart), lack of legal intervention, and protection of intellectual property, exclusion of important segments by micro marketing, losses suffered in returns, weak online presence, Opportunity International expansion in tech., evolving consumer tastes, tech advances, expansion of website
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