A Report On Bust Buys

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EXECUTIVE SUMMARY This report focus on Bust Buys. This is a public Company that is considered to be the largest electronic retailer in the United States. This may be attributed to the fact that it commands a market share if 19%. This means that out of all the estimated electronic sales in the United States, 19% OF THEM ARE SOLD BY Bust Buys Inc, alone. This company is so large that it has about 2,800 stores in other countries outside the Unite States. These countries include: Canada, Mexico, China and Turkey. To add on to this, it has a number of subsidiaries namely the Geek Squad, Pacific Sales, Future Shop and Magnolia Audio Videos. Best But is very unique if one keenly analyses its price strategy. This is because it utilizes the…show more content…
It also aims attaining sustainable growth and earnings through constantly changing its business model to suit the needs of the customers (Lal, 2006). It also strives to sell quality products and maintain a high level of employee training. It was originally known as Sound of Music. It was incorporated in 1966. During that time, the company was mo0stly involved in the retail of audio component. However this did no go on for long as the company expanded to dealing in video products later in the same year. In the 1980’s it introduced the video cassette recorder into its product line. In 1983 it change its name to Best Buys Company Inc. and later during the same year it started operating as a super store. This involved the idea of expanding the product lines and employing the use of mass marketing techniques to promote the products. In 1989, the Company changed the role of its sale staff. This was in line with the new strategy that had been adopted by the business. It involved the movement from being a discount retailer that mainly used the low-price pricing strategy to attract customers to being a firm the embraced the idea of a differentiated pricing strategy. For this reason it changed the role of its sale associates and gave them a more active role. This new role involved acting as educators to the different customers and giving them the information they required in order to makes educated

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