Best Buy Case

2726 Words Mar 24th, 2011 11 Pages
Gloria B. Poblete
Marketing 503
Case Analysis
February 11, 2009

Best Buy Case Analysis

Executive Summary

Best Buy Co., Inc. has been in operations since 1966, they are based out of Minneapolis MN. They have continues to grow steadily over time through innovations. They have become customer-driven by enhancing customer enjoyment of technology. They operate over 940 retail stores across the United States and Canada. The first store in Mexico just opened up in 2009 and they are presently looking into Turkey in the near future.
Best Buys current marketing goals and objectives is to serve the needs of unique customers. Best Buys four strategic initiative are customer centricity, efficient enterprise, win with service, and win in
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Within their Global expansion they believe that by serving the needs of diverse and unique customers, is very important to have one common vision, which is to “improve the lives of their customers. By having more access to global ideas in new markets Best Buy is aware that each market requires a deep understanding of the customers’ needs.

Best Buys market share gains report as of January 9, 2009, that revenue for the fiscal month ended Jan. 3, 2009, rose 4 percent to $7.5 billion, which was in line with company expectations. The revenue for the five-week period compared with $7.3 billion in revenue for the five-week period ended Jan. 5, 2008. Gains from the inclusion of Best Buy Europe’s revenue and the net addition of 194 new stores in the past 12 months were largely offset by a 6.5-percent decline in comparable store sales and the unfavorable impact of fluctuations in foreign currency exchange rates. (BestBuy.com)

The Customer Environment

Best Buys strategy is to offer an old-fashioned corner store feel for their customers under a giant technical store. In order to accomplish this they needed to come up with a plan, which they had started in 1996. In order to achieve this type of environment they underwent a major research project. They gathered all the data that had been collected on all of their customers since 1996, and made plans to use the information to achieve their goals and objectives.

Best Buy conducted an internal

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