BEST BUY- success strategy

SUCCESS STRATEGY

DOMINATOR THE RETAIL WORLD

• Best Buy- Consumer electronic retailer

• Global expansion

• Employees with fixed salary

WHAT IS RETAILING?STORE RETAILSELF SERVICESELF SELECTIONLIMITED SERVICEFULL SERVICE

NON-STORE RETAILDIRECT SELLINGDIRECT MARKETINGAUTOMATIC VENDINGBUYING SERVICE

Chain store

Retailer co-

operative

Consumer Co-

operative

Franchise

Merchandising

COPORATE RETAILING

RECENT RETAIL DEVELOPMENTS

Improved Consumer services

What is Market Logistics?

Corporate strategy

BEST

BUY

TECH GEEKS

PRICE CONSCI

OUS DAD

YOUNG GADGET ENTHUSI

AST

BUSY SUBURB

AN MOM

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

RISKS INVOLVED IN GOING FORWARD:• Core competence with private labels• To overcome low priced stores• Narrow selective target market• Compete with online retailers

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

BEST BUY

SummaryRetail marketing

Corporate RetailingRecent Retail Developments

Strategy implemented in Best BuyAnalysis of Case Study

REFERENCES

• https://en.wikipedia.org/wiki/Best_Buy

• www.bestbuy.com/

• Presentationpro.com

DISCLAIMER

Slides were created bySowmiyasree.D (PSG TECH)as a part of an internship under the guidance of Prof. Sameer Mathur (IIM LUCKNOW)