Business Model Of Best Buy Co. Inc.

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INTRODUCTION
This paper presents analysis of business models used by leading consumer electronics and appliance retailer, Best Buy Co. Inc.
Best Buy was facing a major issue of negative comps and declining margins, this analysis provide insights on how did company overcome these issues by following competitive strategies. It analyses the competitive forces and challenges faced in this industry segment and how IT plays an important role while planning competitive strategies to maintain leading market positions. Change is inevitable with dynamically advancing technologies and market trends. This paper proposes some evolutions for current business model of Best Buy Co. Inc.
BUSINESS MODEL
Best Buy Co. Inc. (NYSE:BBY) founded in 1966 by
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It has a 3rd most visited website in US. Best Buy is a global leader with stores across the globe. Mainly in Canada, Mexico, and China with around 15000 employees and 400 stores worldwide.
Awards and Recognitions: Best Buy Co. Inc. has ranks #72 in Fortune 500 companies
Listed o FTSC4Good global index
Energy star partner of the year
Ranks 2nd among Greenest retailers
Type of business:
Best Buy is a Hybrid business. It means it is both product bases and service based business. It is a product based as it sells physical tangible products from various brands to its consumer and it also offers services such as installation and maintenance. Service business reply on customer relations and quality of service is offered.

Offerings:
Best Buy comes under consumer electronics retailer industry segment and the Operations offered by Best Buy Co. Inc. includes Best Buy retail stores, Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific sales Kitchen and Home.
Market Position:
According to TWICE magazine top 100 consumer electronics retailers list, Best Buy is a leading specialty retailer in US consumer electronics retail industry. It is a Pure-Play retailer as oppose to its competitors like Walmart and Target which sells other products like apparel, grocery, toys in addition to the consumer electronics.
Value Propositions:
Almost regardless of what you do, you have bigger competitors. When certain company is successful and rising
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