Preview

Best Buy Case Study Write Up

Good Essays
Open Document
Open Document
679 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Best Buy Case Study Write Up
Kellen Duggan
Shuping Gao
Best Buy Case 7/17/12 Marketing 561 Professor Moon

1. How does Best Buy define customer centricity?
The idea behind customer centricity was to be the customer’s smart friend and give a full solution. The sales people stand by the customers and try to find what they really need and what they want. The opposite of this would be product centricity. At this time the electronics were getting easier to use, their interaction required specific knowledge that only a fraction of the client base possessed. In this situation, the used to be advantage of best buy disappeared, and the company tested the first version of customer-centricity by setting up 12 laboratory stores and then rolling out tested concepts in 32 pilot stores. The test were successful very successful. Best buy changed its segments from products such as MP3, TV, or PC to customers like Barry. All these make customers more convenient to shop in the store. Compared to the other stores, Best Buy did not focus on brands but usage. The sales person never asked what do you want to buy, but rather ask what you want to do. In launching customer centricity, Anderson used an autocratic set of power tools and expected swift support from his top team to execute his vision.

2. Is Customer-Centricity the same as customer services?
No, the customer-Centricity is not the same as customer service. The difference is that they can contour their sales and service pitch to each individual after they know which category that they fall into. They know from past company stastistics and knowledge about the different types and what their shopping style is like. Customer service is about trying to sell your existing products. The case states also that customer service may be in response to its competitors, and not its customers. Customer centricity mainly focuses on research of customers buying power, purchase preference and customer behavior. It is based on the research that Best Buy has

You May Also Find These Documents Helpful

  • Satisfactory Essays

    This case study about J. C. Penney Co. is about how a company is endeavoring to increment profitability by attracting the best assets in business and customers. Lowering prices, marking down prices, and offering standardized products rather than unique and “designer” (Case Study, pg. 2) product are what this company's strategy is all about.…

    • 54 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Case Study: Jcpenney

    • 385 Words
    • 2 Pages

    Ron Johnson made some bad decisions that caused him to only last as the CEO of JCPenney for seventeen months (Kinicki & Williams, 2013). His bad decisions consisted of misreading what the shoppers wanted, no testing of ideas prior to execution, distancing himself from the essential consumers, misread the JCPenney brand (Tuttle, 2013).…

    • 385 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Best Buy Company is one of the leading companies in US and Canada dealing with the retailer of the consumer electronics. The company has over 400 stores worldwide offering a wide variety of products worldwide , among the company’s major products include the following ; mobile phones, gaming systems appliances, computers , televisions among other components and accessories. However, the company has adopted a variety of strategies that sees it enter successfully into the competitive markets; for instance, it has developed a culture that promotes excellence customer services, minimized or no commission on some products, employing highly experienced and skilled staffs . These have seen the Best Buy company expand to many successful branches and increased production over some a good period of time.…

    • 2103 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Case Study: Nordstrom

    • 612 Words
    • 3 Pages

    Due to global competition, there is a variety of products that are competing in different markets ranging from apparel to computers. Despite the many benefits that these products might provide to customers, this phenomenon is making it more difficult for retailers and manufacturers to predict which of their goods will sell effectively.…

    • 612 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Best Buy Co., Inc. is an American public company that is a specialty retailer of consumer electronics in the United States, accounting for 19 percent of the market (1). Over the last fifteen years, Best Buy, like many retailers, is “competing with a perfect storm of disruptive technologies (2)”. It is hard to compete with those companies embraced with innovations, such as Apple and Amazon. Best Buy has lost $1.23 billion and 2.4% decreasing of revenue last year. In order to create a delighting customer atmosphere, Best Buy should focus on: engaging in innovations of e-commerce, training employees, and focusing on the target market.…

    • 606 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Nordstrom Essay

    • 1313 Words
    • 6 Pages

    Advantages- By using customer centricity it can allow Nordstrom to recognize and take advantage of opportunities for growth, such as unfulfilled customer needs. Another potential benefit of a customer-centric business strategy for Nordstrom is that it can increase customer satisfaction. The purpose of customer-centricity is to find out what customers like and don't like, and to tailor products and services to better fulfill those needs and eliminate sources of problems. An example of Nordstrom using customer centricity is with a new service called Textstyle. The service allows Nordstrom customers to directly reach sales associates via text message if that is how they prefer to communicate. A customer using TextStyle, would be contacting his/her own personal Nordstrom salesperson by a private text message with a description or photo of a product. If the customer decides to purchase the product, the customer can make the purchase by replying “buy” and entering a unique code. The consumer will then be able to is complete the transaction using a shopper’s account at nordstrom.com (Wahba 1). This is an idea that using a service that is based around the customer and their own time frame along with the consumers prefer method of communication via text. This new idea could bring along growing profits if the idea takes off, however there is also…

    • 1313 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    References: hanahan J. 2006, Consumer-centricity: An idea whose Time Has Come, Australian Marketing Institute, viewed on 5 December 2006, Optus, viewed 24 January 2007 Hutchison 3, viewed 24 January 2007, Telstra, viewed 24 January 2007 Vodafone, viewed 24 January 2007 < http://www.vodafone.com.au/>…

    • 2033 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    The (RCC) / VC model is used to determine how Best Buy bundled its resources to create capabilities and how these capabilities become the company’s core competencies which will be their source of competitive advantage.…

    • 5772 Words
    • 24 Pages
    Powerful Essays
  • Satisfactory Essays

    Over the years online shopping has increase astonishingly among the consumers due to convenience and variety of products to choose. To compete Best Buy needs to sell shopping experience that cannot be match with online shopping. First they need to eliminate the warehouse format and transforms into a showroom format which helps customer interact with. The next is to add refreshment areas such as coffee shops, music rooms and game rooms which help to increase duration of stay in the store and chances of selling more products and last with improve shopping experience customer satisfaction can be gain and face to face employees consulting about the product details which no internet retailing can match…

    • 115 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Best Buy Executive Summary

    • 1877 Words
    • 8 Pages

    Corporations that have the privilege to earn a position on the Fortune 500 means that you are one of the most powerful companies in America. If a company has the ability to hang around for over 40 years that means they have withstood the changes most industries will endure. Since the popularity of electronics began in the late 20th century, many corporations like Sony and Apple has tried to fill consumers wants and needs. Trying to meet these goals has created opportunities for many big box retailers to leverage their ability to reach a national audience. This type of power has given retailers such as Apple, Sony, Target, Walmart, Radio Shack and Best Buy tremendous revenues that will influence potential shareholders.…

    • 1877 Words
    • 8 Pages
    Better Essays
  • Powerful Essays

    Best Buy Project Analysis

    • 9909 Words
    • 40 Pages

    Bibliography: c) DATAMONITOR: Best Buy Co, Inc. Best Buy Co, Inc. SWOT Analysis [serial online]. June 2010; 1-12. Available from: Business Source Complete, Ipswich, MA. Accessed November 5, 2011.…

    • 9909 Words
    • 40 Pages
    Powerful Essays
  • Satisfactory Essays

    Values

    • 360 Words
    • 2 Pages

    * Customer focus: We go above and beyond to give our customers the best possible retail experience.…

    • 360 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Best Buy Marketing Plan

    • 11156 Words
    • 45 Pages

    Best Buy’s mission statement is “Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers—and we rely on our employees to solve those puzzles. Thanks for stopping.” Their company perspective is the following “Our vision is to make life fun and easy. Our business strategy is to bring technology and consumers together in a retail environment that focuses on educating consumers on the features and benefits of technology and entertainment products, while maximizing overall profitability. We believe our stores offer consumers meaningful advantages in store environment, product value, selection and service, all of which advance our objectives of enhancing our business model, gaining market share and improving profitability.” Best Buy strives to continue its growth and innovation in order to come up with new ideas and new ways to intrigue their customers and also new ways for their employees to work as a team and work together. One of their goals is to offer solutions for entertainment and technology that will meet their customers’ needs, “end-to-end.”…

    • 11156 Words
    • 45 Pages
    Good Essays
  • Good Essays

    Case Study: Gamestop

    • 1119 Words
    • 5 Pages

    GameStop stores have faced many competitors through the years, such as Best Buy, Target, Walmart, etc. While these stores offer mulitple departmets, GameStop’s main focus has alwas been gaming. It is no wonder when the onling gaming industry was introduced, the threat to GameStop was grave. “With more than 6,600 stores throughtout the United States, Austrailia, Canada, and Europe, GameStop’s management team wants to be the premier destination for gamers” (p. 58). However many obsticles GameStop has been faced with, it has been able to capitalize stragtigically. The question remains, can GameStop survive with its brick-and mortar stores?…

    • 1119 Words
    • 5 Pages
    Good Essays
  • Good Essays

    The store that I want to dive deeper into and throughly discuss is Best Buy. They are the world’s largest electronics chain, and a leader in music sales. Marketing management is at the second tier of its organizational structure, meaning it is at a very high importance level for the corporation (Kelley). They have over 800 retail outlets and an extensive online site that offers even more products than what is stocked on the shelves. All of this translates to great promotional and marketing opportunities for a new release. Both the tried-and-true physical stores and the technically backed and maintained website allow an artist’s new material to stand out and get noticed over other retail markets.…

    • 919 Words
    • 4 Pages
    Good Essays