Video case chapter 5
An understanding of consumer behavior helped Best Buy grow from a small specialty audio retailer to the world’s largest consumer electronics retailer by “trying to keep our ear to the railroad tracks” which means they listen to the customer to be able to change on a dime when a customer wants us to tailor that experience a certain way and provide certain shopping experiences and certain services. 2.
The advantages and disadvantages of using “customer centricity” to create five segments of Best buy customers helped best buy test product offerings, store designs, and service offerings which were then expanded to a larger number of pilot stores that would undergo changes but the cost of applying this was often as much as $600,000. 3.
Men and women are different in their consumer behavior when shopping in a Best Buy store because men typically love technology and like to play with it while women are looking for people who can answer their questions in a simple manner. 4.
Some objective evaluative criteria and subjective evaluative criteria females use with shopping for electronics at best buy are looking for a knowledgeable person who can answer their questions in a simple manner so it would be necessary for best buy to provide them with a shopping assistant that will walk then through the store and demonstrate how each product works. 5.
The only challenges that Best Buy faces in the future are the costly expenses associated with customer centricity.
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