Best Buy Marketing Plan
Best Buy Marketing Plan
Best Buy Marketing Plan
Marketing 600: Marketing Management
TABLE OF CONTENTS
Executive Summary X
Introduction X
Situation Analysis X Industry Analysis X SWOT Analysis X
Marketing Strategy X Objectives X
Financial Projections X
Implementation Controls X
References X Introduction Since its start in 1966 Best Buy Co., Inc. has become a leading multi-channel global retailer and developer of technology services and products. The company is headquartered in Richfield, MN and currently has 180,000 employees. Best Buy operates in the U.S., Canada, Mexico, Europe, as well as China. Their product offerings include mobile products, televisions, e-readers, digital cameras, computers, appliances and many others. Best Buy attributes their steady growth over the years to their deep commitment to innovation and their customers. They continually adapt their product offerings to meet and exceed the ever changing technology needs of their customers. Best Buy recognizes that in the world of retail company’s need to constantly be finding new ways to attract, and retain customers. This has led the company to transform their operating models, as well as their stores to have a more customer-centric focus instead of the product-centric focus they once had (BBY, 2012). Recently Best Buy has been forced to make some difficult decisions regarding their company in an effort to stay competitive. With the departure of Best Buy’s CEO, Brian Dunn the company had to deal with some negative press regarding his inappropriate behavior with a company employee. In addition the company’s founder and chairman of the board of directors, Richard Schulze, was also caught up in this negative press and also resigned from the company. Recently Best Buy announced the closure of 50 of their big box stores, and lay
Best Buy Marketing Plan
Marketing 600: Marketing Management
TABLE OF CONTENTS
Executive Summary X
Introduction X
Situation Analysis X Industry Analysis X SWOT Analysis X
Marketing Strategy X Objectives X
Financial Projections X
Implementation Controls X
References X Introduction Since its start in 1966 Best Buy Co., Inc. has become a leading multi-channel global retailer and developer of technology services and products. The company is headquartered in Richfield, MN and currently has 180,000 employees. Best Buy operates in the U.S., Canada, Mexico, Europe, as well as China. Their product offerings include mobile products, televisions, e-readers, digital cameras, computers, appliances and many others. Best Buy attributes their steady growth over the years to their deep commitment to innovation and their customers. They continually adapt their product offerings to meet and exceed the ever changing technology needs of their customers. Best Buy recognizes that in the world of retail company’s need to constantly be finding new ways to attract, and retain customers. This has led the company to transform their operating models, as well as their stores to have a more customer-centric focus instead of the product-centric focus they once had (BBY, 2012). Recently Best Buy has been forced to make some difficult decisions regarding their company in an effort to stay competitive. With the departure of Best Buy’s CEO, Brian Dunn the company had to deal with some negative press regarding his inappropriate behavior with a company employee. In addition the company’s founder and chairman of the board of directors, Richard Schulze, was also caught up in this negative press and also resigned from the company. Recently Best Buy announced the closure of 50 of their big box stores, and lay
References: AT BEST BUY, NO FIREWORKS; Shareholders heard few specifics from interim CEO Mike Mikan. Later, directors changed the bylaws to make a takeover tougher. (2012, June 22). Star Tribune [Minneapolis, MN], p. 1D. Retrieved from http://go.galegroup.com.ezproxy.metrostate.edu/ps/i.do?id=GALE%7CA294082586&v=2.1&u=mnamsu&it=r&p=GPS&sw=w BBY. (2012). About Best Buy. Retrieved from http://pr.bby.com/phoenix.zhtml?c=244152&p=irol-factSheet Company 's strength anchored by Geek Squad, mobile stores, cash flow BEHIND THE TURMOIL, BEST BUY SHOWS UPSIDE BEST BUY SHOWS AN UPSIDE. (2012, May 20). Star Tribune [Minneapolis, MN], p. 1D. Retrieved from http://go.galegroup.com.ezproxy.metrostate.edu/ps/i.do?id=GALE%7CA290305011&v=2.1&u=mnamsu&it=r&p=GPS&sw=w KATSENELSON, V. (2012). THINKING OUTSIDE THE BEST BUY BOX. Institutional Investor-International Edition, 37(5), 31. Retrieved from http://ezproxy.metrostate.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=77279924&site=ehost-live Opportunity amid turmoil at Best Buy; Exit of Schulze and Dunn should accelerate retailer 's evolution. (2012, May 16). Star Tribune [Minneapolis, MN]. Retrieved from http://go.galegroup.com.ezproxy.metrostate.edu/ps/i.do?id=GALE%7CA289841735&v=2.1&u=mnamsu&it=r&p=GPS&sw=w