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Unformatted text preview: Linda Zhang, Tammy Shi, Allen Liu, Brian Chu and Nikita Avdiushko Busi406.005 Principles of Marketing February 17, 2010 Industry and Competitor Analysis Best Buy Industry description 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. The industry is dominated by Japanese and South Korean companies such as Sony, Toshiba, Panasonic, Samsung, and LG. The Consumer Electronics Association (CEA) reported an 8% revenue drop in 2009 from $178.6 to $164.9 billion. Highlighting the extent to which consumers cut spending was a rise in unit shipments, which were up 10% on 2008. For 2010, the CEA expects the industry will see slight sales grow (a projected rise of 0.2%), as consumers are expected to continue to be conscious of their spending. Falling prices and a preference for lower-cost products will hit the conscious of their spending....
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