The firm is committed to customer service the most

  • Liberty University
  • BUSI 690
  • Homework Help
  • SoCalBS
  • 38
  • 97% (116) 112 out of 116 people found this document helpful

This preview shows page 7 - 9 out of 38 pages.

extra miles for its customers like Best Buy. The firm is committed to customer service, the most important thing for the organization is to keep customer happy and loyal. Public Image: Best Buy has been analyzed by some analysts that have warned investor that the firm does not have clear direction or branding. According to Downes (2012), the firm is losing market share because the company has attempted quick trends but missed longer-term trends that are more productive over time. The analyst also suggests that the firm is going out of business gradually, although the last two years of financial data contradict this assessmemt. The new mission statement will include Best Buy’s commitment to steady growth with the new product that is introduced in their mission statement. The firm will standardize its products, packaging, and communication to achieve a positioning that would be effective over time. Concern for Employees: In the past, Best Buy has been one of the worst retailers for employee satisfaction; this is partly because of the long hours and little pay (Glass door reviews). However, when Circuit City laid off all of their experienced sales and support people; Best Buy hired the laid off workers and gained a service advantage. The company will continue to have an advantage over their competition by having a culture that allows employee freedom and responsibly to increase talent density, which will come with a pay increase. The firm believes that flexibility of employee creative ideas is more important than efficiency. Consolidated Mission Statement : In a fast paced world where time is at a premium, Best Buy provides people with the tools and solutions they need to get back to school/work/fun! Our employees are the most approachable, most knowledgeable, and
Best Buy Business Case 8 most effective sales tool the company has. Whether it is solving a software problem, repairing a hardware issue, or recommending a new tool, Best Buy has the solutions customers need at a price they can afford. 4 Existing Business Model Analysis Best Buy has found a niche in the technology and consumer electronics industry by virtue of its dedicated physical presence; this niche is focused on customer service and the ability to provide a qualifies technician to address technical issues on a level not available through low-cost retailers (Wal-Mart) and that that isn’t possible for an online service (Amazon). This model is exemplified by its “Geek Squad” offering; a set of . This unique stream of revenues offers service plans when consumers purchase televisions, computers or game stations. Many companies such as Target and Walmart have jumped on the band wagon to attempt similar offerings but have fallen short. By differentiating itself from the competition, Best Buy has created value for their organization. “Geek Squad”, is a huge strength at Best Buy. From the beginning of 2002, Best Buy has become a valuable asset to consumers and a well-known brand with instant recognizable logos. Best Buy’s strategy to sell cell phones and iPads was a good idea. This allowed

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture