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Best Buy Company Analysis and Recommendations

Explore the history, sales strategy, competitors, and company analysis of Best Buy Inc. with recommendations for both short-term and long-term growth opportunities.

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Best Buy Company Analysis and Recommendations

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  1. Best Buy by Blake HunterNarangooTsolmonbaatarEkaterina EfimovaZachery Hepperle Youtube.com

  2. Agenda • History • Sales Strategy • Competitors • Company Analysis • Recommendations • Conclusion

  3. History • Sound of Music was established in • 1966 by Richard M. Schulze • Named Best Buy Co., Inc in 1983 and • headquarters in Richfield, Minnesota

  4. History • Best Buy (BBY) debuted on 1985 • 1997 became the first national retailer • to sell DVD hardware and software • 2000 bestbuy.com has been launched • 2004 Virtucom Group of Syracuse, NY • is hired for Best Buy • 2008 - Best Buy opened 1,000th • physical store

  5. 2001 Best Buy acquired the Canada- based electronics-chain Future Shop Ltd History

  6. History • 2007 the first Best Buy opened in China • Largest Best Buy existence

  7. Sales Strategy • Target Consumers • Great Customer Service (Geek Squad) • Angil-Devil Strategy

  8. Sales Strategy • Global Expansion • Warranties and Rewards • Brand Recognition

  9. Competitors • Dell Inc • RadioShack Corp • Circuit City Stores, Inc

  10. Dell Inc • Dell, Inc. is a multinational technology • corporation and established in 1984 • Headquarters in Round Rock, TX, USA • In 2008, revenue was $61.133 Billion • Employees 80,800 by 2008 • Dell’s first store locates the new Gorbuskin • Dvor retail center in Moscow, Russia

  11. RadioShack Corp • RadioShack Corporation is a chain of • electronics retail stores and founded in1921 • Headquarters in Fort Worth, Texas, USA • In 2007, revenues was $4.821 billion • Employees over 37500 • 4,450 outlets in US, Puerto Rico, and the • Virgin Islands.

  12. Circuit City Stores Inc • Circuit City Stores, Inc. was an American • dealer and retailer in brand-name consumer • electronics. • Founded in 1949 and defunct in January, 2009 • Headquartered in Richmond, Virginia, USA • There were 567 Circuit City Stores nationwide

  13. Company Analysis

  14. Strengths • Customer Service • Availability to Purchase • (www.bestbuy.com)

  15. Weaknesses • Pricing • Product Selection

  16. Opportunities • RFID • Mobile Cell Phone Industry

  17. Threat Most Competitive Industry

  18. Threats • Best Buy CO Inc • After Hours: 38.100.03 (0.08%) 7:52PM ET • Economy http://finance.yahoo.com/

  19. Recommendations Short-Term • Be less dependant on U.S. sales • Follow customer-centric model • Get attention on TV market

  20. Recommendations Long-Term • Launch new digital products • Expand business internationally • Maintain image brand

  21. Conclusion • Use their strengths and opportunities • Open new market • Be sensitive to market changes

  22. Thank You! Any Questions?

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