Title Page Research Paper Market Report on Best Buy Company Your name Best buy TABLE OF CONTENTS Abstract 1 I. Introduction 4 1.1 Goals 4 1.2 products 4 1.3 Geographic location 4 1.4 Strategies 4 1.5 Market Share 5 1.6 External Driving Forces 6 II…
Market study helps the company understand business opportunities or failures. Best Buy is a multinational company that carries consumer electronic devices, appliances, mobile phones, and services. It has been successfully operating in all the states and territories of the United States since 1986 but has only started international operations in 2002. Today, it operates in Europe, Mexico, Canada and China under different brands. The company has achieved growth thru mergers and acquisitions, particularly in its international segments. Cost of goods sold is reportedly high in these areas since it entails a lot of maintenance costs. For the past 2 years sales and income have been declining in the international segments while US sales are flat. Business opportunities are seen in the global atmosphere, while opportunities for domestic remain in technology and services. Competitions are taking advantage of their presence in the internet and continue to earn higher income and profits. Amazon and eBay for instance re online retailers that earns high income from internet sales. The declining income of BBC is an eye opener to look if its present business strategies need to be reviewed and changed. Market Report on Best Buy Company I. ...
Particularly, its goal is emphasized in its strategies: to increase market share, to attain international growth, increase efficiency and to connect to the world. 1.2 Products Best Buy’s stores sell the following items: Consumer electronics, home office, entertainment software, appliances, and services. Consumer electronics consist of video and audio products, TVs, and MP3 players. Home office products include personal computers, cell phones, cable and internet service plan. Entertainment software includes products such as video games, CDS, video games, and computer software. Technology, service and repair. Other segments that offers food and beverages. Source: United States SEC Best Buy Form 10-K Annual Report 1.3 Geographic location Company operates locally in all the states and territories of the United States, while its international scope consists of China, all of European territories, Mexico, and Canada. 1.4 Strategies Strategies that helped company grow are by acquisitions and expansion. The company was incorporated in 1966 with the name Sound of Music Inc. but changed name to Best Buy in 1983. From this beginning it has grown and expanded thru mergers and acquisitions that made an impact of its presence in electronics, entertainment and technological services in the United States. Organic growth began in 2009 when it took advantage of the bankruptcy of Circuit City to serve the market share of the electronics consumers of the industry which was left open by the bankrupt company (University of Oregon Investment Group , Jan 8, 2011 pdf). The international segment started in 2002 through acquisition of established brands in Canada. Its presence in China ...
Cite this document
(“Best Buy Company Paper Research Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.net/marketing/95033-best-buy-company-paper
(Best Buy Company Paper Research Example | Topics and Well Written Essays - 1500 Words)
“Best Buy Company Paper Research Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/marketing/95033-best-buy-company-paper.
In response to this, many works have been created to emphasize the significance of operations that are strategically managed. Quality management has also been emphasized so as to achieve competitive lead. Dimensions like quality, flexibility to adapt to different demands, cost, innovation, delivery dependability, and speed determine a company’s competitiveness.
Based at Detroit, General Motors was founded in the year 1908, the same year when Ford Motor Company had launched the iconic Model T – the car that had revolutionized the automobile industry by introducing assembly line production (Harverd Business School, 2009).
Currently, the company boasts of exponential growth realized over the years, attracting millions of consumers in more 17000 locations in more than fifty countries across the globe. The company’s logo gets its inspiration from the sea. The logo features a twin-tailed siren from the mythology of the Greeks.
There are also services which allow for the installation of the service on the spot, as well as a warranty in case of repairs and accidents. (Stopper, 2006) Part 2. Benefit, Cost & Value Creation – The Marketing Mix Best Buy’s marketing value comes from the low cost and good quality of products that it sells.
Apparently, the previous CEO, Brian Dunn, 51 years of age and married, was reported to have been observed and found to have had several social meetings, calls, text messages and other innuendos with a 29-year old female employee. As disclosed, Schulze was “notified about the allegations of inappropriate behavior in December and confronted Dunn, who denied any inappropriate conduct or romantic relationship with the employee” (Dorfman and Geller par.
While strengths and weaknesses are internal, opportunities and threats are external factors (Internet Center for Management and Business Administration, Inc.).
What we consider as firm's strengths are "its resources and capabilities that can be used as a basis for developing a competitive advantage" (Internet Center for Management and Business Administration, Inc.).
This will therefore make use of cost benefit analysis by presenting the advantages and disadvantages for each option to buy or lease the building. Areas to be discussed include the source of financing, cost, and salvage
In the current years, most of the companies have shifted their focus significantly on the importance of human resource in the company. This is attributed by the direct impact of the human resource on the employee’s performance and the overall
In fact, the company needs to control their work in order to complete Six Sigma approach to structural design. Moreover, Best Buy revealed complications with omni-channel consistency, which destroys its ability to maintain competitive advantage in offering both online and in-store service.
9 Pages(2250 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Best Buy Company Paper for FREE!