BEST BUY- success strategy
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Transcript of BEST BUY- success strategy
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SUCCESS STRATEGY
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DOMINATOR THE RETAIL WORLD
• Best Buy- Consumer electronic retailer
• Global expansion
• Employees with fixed salary
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WHAT IS RETAILING?STORE RETAILSELF SERVICESELF SELECTIONLIMITED SERVICEFULL SERVICE
NON-STORE RETAILDIRECT SELLINGDIRECT MARKETINGAUTOMATIC VENDINGBUYING SERVICE
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Chain store
Retailer co-
operative
Consumer Co-
operative
Franchise
Merchandising
COPORATE RETAILING
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RECENT RETAIL DEVELOPMENTS
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Improved Consumer services
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What is Market Logistics?
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Corporate strategy
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BEST
BUY
TECH GEEKS
PRICE CONSCI
OUS DAD
YOUNG GADGET ENTHUSI
AST
BUSY SUBURB
AN MOM
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WHAT ARE THE KEYS TO BEST BUY’S SWHAT ARE THE KEYS TO BEST BUY’S SUCCESS? WHAT ARE THE RISKS GOING FORWARD?UCCESS? WHAT ARE THE RISKS GOING FORWARD?
• MULTI-CHANNEL STRATEGY• GEEK SQUADS• TARGET SEGMENTATION• MARKETING COMMUNICATIONS• TRUSTED CONSUMER BRAND
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RISKS INVOLVED IN GOING FORWARD:• Core competence with private labels• To overcome low priced stores• Narrow selective target market• Compete with online retailers
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How else can best buy compete new competitors like Walmart and online companies?
• By Direct Marketing• Can promote itself in buying service-
Non Store retail• New products to attract new
customers• Well-established retailer
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BEST BUY
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SummaryRetail marketing
Corporate RetailingRecent Retail Developments
Strategy implemented in Best BuyAnalysis of Case Study
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REFERENCES
• https://en.wikipedia.org/wiki/Best_Buy
• www.bestbuy.com/
• Presentationpro.com
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DISCLAIMER
Slides were created bySowmiyasree.D (PSG TECH)as a part of an internship under the guidance of Prof. Sameer Mathur (IIM LUCKNOW)
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