Posted on by Judy

Case Study about Best Buy. Please Briefly decribe about 1)Analysis of Best Buy Industry in summary and conclusion.

BEST BUY : This company has started as audio component system retailer of both sound and music. It is the world’s largest retailer and it has $34.2 sales. This company has its retail stores in china, US, canada and mexico.
GOALS OF COMPANY
* to make best technology for its customers
* to sustained growth and earnings
* to become best leader in service
HERE I AM GOING TO ANALYSIS THE BEST BUY INDUSTRY IN TERMS OF ITS STRENGTH, WEAKNESS AND OPPORTUNITIES
STRENGTHS OF BEST BUY COMPANY
* they formulate differentiation strategy
* they have strong customer information database
* have extensive level of service
* they have large global presence across world
* increase in sales
WEAKNESS OF BEST BUY COMAPANY
* there are only few stores relative to competitors
* they have shorter product life cycles which increase training costs.
* decline in the operating margins over time.
OPPORTUNITIES
* they can provide more value added services in stores
* they can increase global presence as domestic market matures
* they can get best opportunity by moving digital space by expansions
* their products plays into competitive advantage.
CONCLUSION
After studing best buy company’s strength, weakness and opportunities, it is concluded that to get be successful in market they need to make strategies for customers satisfaction by way of providing best quality products. and to keep in track they need to take risk among existing competitors by substitute their products.
 
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