Best Buy Is A Retail Company

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Best Buy is a retail company that was discovered by Richard M. Schulze in 1966 that specializes in all types of electronics. These electronics could be anything from cell- phones to laptops to speakers. When the company first opened in Minnesota, they went by the name of Sound of Music Inc. Back than the store only focused on stereos for the home and car. Around four years after that, Schulze bought out his partner and began to expand the company on his own. Things really started to boom around the 1980’s, and in 1983 the company renamed itself to Best Buy. They than started to focus on other type of equipment other than just audio devices, such as a device that was popular back than but seems primitive now, the VCR. The following year is…show more content…
Students will be able to lease either new or slightly used products (from previous leases) for the academic school year by signing a contract with their local Best Buy. The contract will include details such as when it starts and when it ends, how much is required a month, and if need be a down payment. I think that this will generate a positive response from the public seeing as now more students will be able to handle college with the necessary technology. This is a brand extension because Best Buy currently does not partake in leasing so it will be a new sector for the company to generate income from. The target market is college-students who need to purchase electronics for school. Seeing as how nowadays most students rely on their laptops for notes, important documents, and typing papers, the market is only going to grow in the future. Some professors even require students to take tests and submit homework online. Our whole lifestyle is moving toward to implementation of technology, so we believe everybody should have the opportunity to utilize it. While some kids’ may me more fortunate than others in terms of money, we offer the leasing solution as a way to even the playing field so that no students have an exponential advantage over others. Some college students pay for everything on their own and would not be able to afford a new laptop if they had to pay in full at the time of purchase. This is why
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