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Essay On Best Buy

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Essay On Best Buy
Best Buy: Case Study Analysis

Company site: www.bestbuy.com Stats:
Approximately 180,000 employees, 1,172 stores, $35.9 billion revenue

Industry:
Electronics/Appliances

About Best Buy:
“Best Buy began as a small specialty audio retailer in 1966. Today the company is the world's largest consumer electronics dealer. While many factors contributed to Best Buy's success, one of the most important is its focus on understanding consumer behavior. Best Buy has used consumer research to better understand customer needs and wants and to guide its decisions about the operation of its stores. Some changes that were driven by Best Buy's understanding of consumers included its shift to discounted prices, the creation of superstores, …show more content…
(http://www.bby.com/2010/04/30/best-buy-opens-its-doors-to-the-uk/)

• Best Buy Americas President Shari Ballard named to 2010 FORTUNE Magazine 50 Most Powerful Women in Business List (http://money.cnn.com/magazines/fortune/mostpowerfulwomen/2010/index.html) • Best Buy appoints Bill Hoffman as Senior Vice President, Consumer Insights. “In this role, Hoffman is driving key decision making and high level strategy for Best Buy’s customer insights unit, which is responsible for analyzing consumer data and trends to generate actionable consumer insight.” (http://www.bby.com/2010/04/28/best-buy-names-hoffman-svp-of-consumer-insights/)

Ethisphere names Best Buy to 2010 list of “World’s Most Ethical Companies” (http://www.bby.com/2010/03/24/ethisphere-names-best-buy-to-2010-list-of-worlds-most-ethical-companies/)

Because of Best Buy’s success with completion of business goals Best Buy has achieved such a favorable status with top brands that they are now able to offer exclusivity with top brands such as “Panasonic”
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