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Best Buy Website: An Overview - Research Paper Example

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Best Buy Website: An Overview

They also believe in being the best while at the same time enjoying their work, and ingraining a customer centric approach as a routine part of the workplace. (Buy) Placement is in stores and selling through its website as well. Best Buy is a customer oriented business so products are those that customers actually need. The placement is for the customer who earns an income of about 75,000 dollars and possibly has kids, and has has an averga eage of 38 years. (Buy) And even though Walmart and Costco are its competitiors, Best Buy allows customers to shop online. And their recent strategy is to follow Walmart’s mantra of low prices everyday in order to be more competitive and cost effective. (Heller, 2011) Best Buy also offers other oppurtunities than just products and services such as the option of assissting business people in making their own websites, having an additional website called Best Buy On which helps further in making purchase decisions and has videos that help in making decisions. (Buy) However, there are certain disadvantages as well. Best Buy has a low customer service satisfaction rate. A survey showed that their customer service and satisfaction rate was lower than that of Amazons. (Mui, 2012) Also, their price sturcture has always been high, and is sometimes even higher on the website and therefore they either need to make their product more competitive or lower down their prices. (Mui, 2012) Part 3. Consumer Characteristics Consumers are divided into Angels and Devils. Angels are the core market of Best Buy. Devils are those who browse through the website, gather information and spend time on the website, but do not make any purchases. Best Buy wants to develop relationships with Angels, and that too a one-on-one relationship. The Angels ar divided into: Jill, which is a mother who is busy and suburban, Barry, who is a tech savy individual with some amount of influence, Ray, a family guy who needs to look out for prices, Mr. Storefront, who owns his own business and Buzz who is young and is obssessed with gadgets. The marketing strategy to each of these and the assisstance given to them vary as well. Online the formats cannot be changed and all types of products are offered however there are assocuates to help them get what they want. However, geographically, they follow a format, since Best Buy keeps a database and will analyze if a particualr segement lives in a particualrly locality and build their store’s format according to the segment i.e. Buzz store etc. (Buy) Part 4. Branding Strategy Best Buy follows a strategy of innovation which is found in its brand as well. They also have a large number of their own exclusive brands. (Buy) Best Buy has also set an example for brand consistency across online and offline media. Their branding on their website and in the stores is the same, except some prodicts online are more expensive. A marketing team is what brings about brand integrity and consistency across channels of communication. Over the years, in order to endure the test of longevity, brands went through a smash test: this meant that a brand was broken down to see that if such a scenario was to occur in practical life, the broken pieces of the brand could still be recognizable as part of the ...Show more

Summary

Best Buy website Best Buy website: An Overview Part 1. Overview: Website Characteristics & Marketing Implications Best Buy Company is a US based consumer electronics retailer that and operates in America, Mexico, Canada and Puerto Rico. Their business involves not only electronics but also other merchandise for example software, computers, music, DVDs, mobiles phones, digital cameras, video cameras, home appliances, musical equipment, health and fitness related equipment etc…
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