SWOT Best Buy
Strengths
Best Buy has been the leader in the American Market for consumer electronics. There strength lies in several sales methods, one being that they allow customers to browse their selection with little intrusion. Their target customer base is young adults that are tech savvy, and the store environment allows for general perusal with sales representative available for general inquiries. The company has sufficiently identified their targeted demographic and have positioned their marketing in order to appeal to their sensibilities. They also have a service center, affectionately called the "Geek Squad" that are within each store to assist with technical issues and repairs, so customers do not have to use outside vendors when in need of product maintenance. This company is also successful in training and investing resources into internal "personal assistants". These employees were trained to steer a certain customer base in order to generate profits. In addition to their internal culture, Best Buy has also been successful in taking over the Future Shop retail stores in Canada. They have a dual-market strategy that is growing the Best Buy Brand in Canada, while simultaneously not impeding on the profitability of the now acquired Future Shop stores.
Weaknesses
Best Buy is positioning themselves to either fail or moderately survive in the Chinese market by branching their company and techniques into a new and foreign demographic. The company also has separate management teams, marketing and sales structures and cultures that exist between the Best Buy branches and the Future Shop stores in Canada. This could create some internal dissension in relation to leadership decisions and employee satisfaction.
Opportunities
Opportunities exist in the building of the Best Buy brand in China's retail market. The company has acquired Five Star, which was a major competitor in the Chinese market, and intend on using the dual market strategy that has been so
Best Buy has been the leader in the American Market for consumer electronics. There strength lies in several sales methods, one being that they allow customers to browse their selection with little intrusion. Their target customer base is young adults that are tech savvy, and the store environment allows for general perusal with sales representative available for general inquiries. The company has sufficiently identified their targeted demographic and have positioned their marketing in order to appeal to their sensibilities. They also have a service center, affectionately called the "Geek Squad" that are within each store to assist with technical issues and repairs, so customers do not have to use outside vendors when in need of product maintenance. This company is also successful in training and investing resources into internal "personal assistants". These employees were trained to steer a certain customer base in order to generate profits. In addition to their internal culture, Best Buy has also been successful in taking over the Future Shop retail stores in Canada. They have a dual-market strategy that is growing the Best Buy Brand in Canada, while simultaneously not impeding on the profitability of the now acquired Future Shop stores.
Weaknesses
Best Buy is positioning themselves to either fail or moderately survive in the Chinese market by branching their company and techniques into a new and foreign demographic. The company also has separate management teams, marketing and sales structures and cultures that exist between the Best Buy branches and the Future Shop stores in Canada. This could create some internal dissension in relation to leadership decisions and employee satisfaction.
Opportunities
Opportunities exist in the building of the Best Buy brand in China's retail market. The company has acquired Five Star, which was a major competitor in the Chinese market, and intend on using the dual market strategy that has been so