Anirudh Agarwal Business Strategy October 4‚ 2012 Marne Arthaud-Day Best Buy after Circuit City: What’s Next In this case we discuss the various reasons behind the success of the retail firm Best buy in comparison to a similar business Circuit city‚ which could not face the economic depression in and went bankrupt. Best Buy is operating in an open market. There are many more firms offering similar products; and‚ rivalry among the consumer electronics retail industry
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businesses use downsizing to cut costs hoping to profit‚ this isn’t always a viable solution. By getting rid of employees‚ you lose valuable talent and experience which can ultimately make your situation worse. Management plays a key role in downsizing effectively. In this report‚ we will be looking at downsizing in the electronic retail business scope; specifically‚ Best Buy and the once flourishing‚ Circuit City. Portions of this report will touch on the economical reasons that both had placed the
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Rubric Completed: _________________________ Abstract Circuit City officially closed its doors on March 31‚ 2009 and over 40‚000 employees lost their jobs. Through thorough research and having experience working at the organization for 5 years‚ it is in the opinion of this researcher that Circuit City went out of business because of poor management decisions made by the CEO (Phillip Schoonover). Schoonover in 2007 decided it was in the best interest of the organization to release 3‚400 higher paid
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Gloria B. Poblete Marketing 503 Case Analysis February 11‚ 2009 Best Buy Case Analysis Executive Summary Best Buy Co.‚ Inc. has been in operations since 1966‚ they are based out of Minneapolis MN. They have continues to grow steadily over time through innovations. They have become customer-driven by enhancing customer enjoyment of technology. They operate over 940 retail stores across the United States and Canada. The first store in Mexico just opened up in 2009 and they are presently looking
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DEVELOPMENT‚ AND GROWTH OF BEST BUY CO.‚ INC. First known by the world as Sound of Music in 1966‚ Best Buy Co.‚ Inc. began its journey in the world of finance and technology in Saint Paul‚ Minnesota. A year later after Sound of Music opened its doors to public‚ the company acquired Kencraft Hi-Fi Company and Bergo Company. The expansion of Sound of Music did not wait and in 1967 two new branches were opened in Minneapolis. Ending the year with superior revenue than what had been expected‚ Richard
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Circuit City Circuit City Stores‚ Inc. (former NYSE ticker symbol CC) was an American multinational consumer electronics corporation. It was founded in 1949 and pioneered the electronics superstore format in the 1970s. By 2000‚ many Circuit City stores were out of date and in bad locations‚ unable to compete with the competition from newer Best Buy stores. In 2000‚ Circuit City abandoned the large appliance business and introduced a more self-serve format called "Horizon". This was controversial
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1. What type of retailer is Best Buy? Best Buy Co.‚ Inc. is a multinational retailer of consumer electronics‚ home office products‚ entertainment software‚ appliances and related services. 2. Do you agree with the strategy Best Buy has adopted to respond to its competitors? Why or why not? Yes‚ I agree to the strategy that Best Buy has adopted to respond to its competitors. If I wanted to buy something as simple as a toaster I would go to Wal-Mart‚ but when it comes to buying high technical
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Best Buy Company Profile (A copy/paste from Hoovers. Add other relevant info preferably links we if there is something compelling) The biggest consumer electronics outlet in the US is also the best -- Best Buy‚ that is. The company operates more than 1‚400 stores throughout the US and Canada‚ and another 2‚600 stores in Europe and China‚ mostly under the Best Buy‚ Best Buy Mobile‚ and The Car Phone Warehouse banners. The stores sell a variety of electronic gadgets‚ movies‚ music‚ computers‚ and
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1. What can any retailer learn from this case? According to this case‚ and concerning about the strategy that Best Buy has created‚ retailers can similarly create a retailer-led product strategy to leverage their customer knowledge for product differentiation and to understand what the needs of the customers are; they must discover what satisfies the customer and what not. In addition‚ the retailer can seek for news partnerships‚ new stores‚ new countries and new categories and services in order
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recognition. In this case‚ after selling the goods and services Circuit city at that point of sale both revenue and earnings have been realized because goods have exchanged hands. At this point of time‚ even though the cost services haven’t been used‚ there is a clear agreement and assurance that the necessary services will be rendered during the period of the warranty Further in exhibit 2 it states four key components which justifies that the Full Revenue Approach is the best match of the sale of
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