1 / 16

History

History. 1966 - Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota. 1983 – New Name : Best Buy Co., Inc. (Appliances and VCRs) 1986 – CDs and Expanded Line of Photo- Equip. 1988 – Begin Selling PCs 1989 – New Logo, “Yellow Tag”

bernad
Download Presentation

History

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. History • 1966 - Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota. • 1983 – New Name: Best Buy Co., Inc. (Appliances and VCRs) • 1986 – CDs and Expanded Line of Photo- Equip. • 1988 – Begin Selling PCs • 1989 – New Logo, “Yellow Tag” • 1990 - Richard Schulze is named Retailer of the Year for the third consecutive year by Consumer Electronics and Audio-Video International magazines.

  2. 1994 - The Best Buy Children’s Foundation • 1997 - Best Buy becomes the first national retailer to sell DVD hardware and software. • 1998 – Sells its 1-millionth DVD and Offer HDTV • 2000 - Best Buy acquires Magnolia Hi-Fi (renamed Magnolia Audio Video in 2003), a retailer of high-end consumer electronics • 2001 - The acquisition of Canada-based Future Shop Ltd. marks Best Buy’s entrance to the international marketplace. • 2002 -- Best Buy opens first Canadian Best Buy store in Toronto, Canada.

  3. An Innovative and Growing Company • Named a Fortune Blue Ribbon Company • Fortune 500 • Global 500 • Most Admired • Global Most Admired • Forbes Most Charitable • No. 1 in StoresTop 100 Specialty Retailers • Best Buy stores reach an estimated 300 million consumers per year in 48 states and online

  4. Mission Statement To give our customers great experiences – whether they are shopping for consumer electronics, home office products, entertainment software and appliances, or using those products and related services in their homes and offices.

  5. Target Market • Small business owners • Customers seeking top-of-line products and reliable service • Customers with demanding schedules

  6. Locations • 733 US Stores • In Oregon, 6 Stores • The Closest: Springfield, Salem and Beaverton. • 3 Separate Specialty Stores • Future Shop – Canada (119) • Magnolia – Video and Audio (20) • Geek Squad – Stand Alone (13)US (4) Canada

  7. # of Stores

  8. Competitors • Intratype: • Circuit City, Fry’s Electronic, Radio Shack, CompUSA, Video Only (Beaverton) • Intertype: • Wal-Mart, Fred Meyer, Sears, Target and Big K

  9. Layout/Atmosphere • Warehouse Atmosphere • Loop Layout • As you walk in, you are guided to the right. • Cell Phones, Mp3 Players, Computers, Computer accessories, Laptops, Printers, Software, Video Games, Plasma TVs, DVD Players and TIVO. • Left side of Store • DVDs, CDs, Home and appliances • Refrigerators, Washer and Dryer, Microwaves.

  10. Merchandise Mix

  11. Helping out the Community • Scholarships – To Graduating H.S. Seniors. • Te@ch – Awards schools with products and services. • Red Cross Donations – Provide Support in times of disaster. • United Way Donations • Non-Profit Donations • Recycling • Each year, Best Buy donates 1.5 percent of pretax earnings to its giving programs. • In fiscal 2005, Best Buy and the Best Buy Children’s Foundation donated $19 million.

  12. What’s the Next Step • New Expansion • 8 US Stores opened Feb. 24, 2006 • East Coast • Eliminate Mail-in Rebates • In January, Best Buy kicked off a Two-Year Plan, Allowing Customers to receive Instant Saving. • Online Rebates • Improves Overall Shopping Experience.

  13. Services • The “Geek Squad” • Technicians that are experienced with every electronic product. • Service Plans • 2 year Product Replacement Plan • Business Solution Center • Business Division • Rebates and Warranties • Mail-in, New Online Rebates and Instant rebates.

  14. Store Experience • My Best Buy Experience • Always Great • What’s New • New Electronic Toy or Stuff on sale. • Others Best Buy Experience • Returns and Service Plans • www.bestbuysux.org • Rebates and Repairs

  15. Sources • www.Bestbuy.com

More Related