Best Buy

Best Buy - Best Buy: Using Customer Centricity to Connect...

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Best Buy: Using Customer Centricity to Connect with Consumers Principles of Marketing MKTG 311-01 Tuesday/ Thursday, 11:10p.m.-12:30p.m. Dr. Ephraim Okoro Fall 2011 October 17, 2011 Howard University School of Business Washington, D.C. Best Buy Summary “Building a Brand”, This article is about how Best Buy has come to be the successful company it is today providing consumer satisfaction, consumer loyalty, and a great brand. The article begins with describing Best Buy as the company in itself. Best Buy has 1,172 stores, 140,000 employees, and $35.9 billion in revenue. How Best Buy operates is that it has superstores that are dividing their goods into categories. They provide goods such as; consumer electronics, home office products, appliances, entertainment software, and related services. Best Buy has stores in U.S, Canada, and China and will soon have stores in Puerto Rico, Mexico, and Turkey. Due to innovation
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Best Buy remains updated through online commerce. They have online products on their website www.bestbuy.com , in addition to their services Geek Squad and Magnolia Audio and Video. The birth of best buy came from Dick Schulze in 1966, when it was called “The Sound of Music” unfortunately a tornado hit an instead of closing Dick Schulze had a “tornado sale” where goods were brought in and prices were cut. It was so successful the Schulze continued this sale for the next two years and in doing so started to understand a consumer wants in technology. Finally “The Sound of Music “changed to “Best Buy” in 1983 and expansion begun. Through a fast paced moving economy Best Buy had to adapt to change. Best buy had to move rid of the traditional selling approach with commissioned sales representatives, again a consumer want. This change led to
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Best Buy - Best Buy: Using Customer Centricity to Connect...

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