Best Buy Company

Best Buy Company

Best Buy is an electronic giant and a multinational retailer company that focuses on selling both products and services to more than 1230 stores all over United States, Mexico, and Canada. The company operates under the Best Buy, Best Buy Express, Best Buy Mobile Home Sales banners, Pacific Kitchen, and others. Best Buy Company sells electronic gadgets, movies, music, computers, mobile phones, and other products and services. The company has over 2.3 million staff members in its different branches (Cherney, 2020). Through the staff members, the company ensures that it provides all the customers’ support when it comes to dealing with the technology in the products.

Product

Best Buy Company-specific strategy or tactic that they commonly use when it comes to winning customers. Through the method of the Invisalign system, the company has been able to treat a malocclusion. The product uses its marketing plan strategy to ensure that it wins over all its competitors. Also, the company’s marketing plan has been effective because it helps capture some of the essential products offered in all the branches.

  • Performance: Best Buy ensures that they produce the best products and services for their customers, especially those in the current competitive market.
  • Consistency: The Company has proven to have the best electronic gadgets, and they ensure they serve the best products and deliver the most affordable services to all the customers.
  • Reliability: The Company guarantees all the customers the services that they need. They ensure that the customers can depend on the product and ensure that it is delivered any time required. The company’s products are useful to travelers and millennials.
  • Packaging: The Company ensures that it delivers all its products in the good quality desired by the customers. It ensures to meet the tastes and preferences of all customers in the specified market.

Services

Best Buy’s services are the best because the employees ensure that they attract all customers from any part of the world. The company offers the essential services because it has an inviting atmosphere, ensuring they provide exceptional products.

  • Initial training: these are some of the company’s services via a workshop format, and they are made possible and successful by the sales team.
  • Practical building assistance: This offers and ensures that the company maintains all its crucial information about the customers. Also, it ensures that the customers have access to the latest smart products from the company’s stores, and they can make all orders. The company ensures that all orders made are delivered on time to the customers.
  • Branding

Best Buy is known for having used one brand over the past 30 years. Recently, the company came up with a new brand log that is to attract the attention of many customers and hinder the competitors. The step of coming up with a new brand logo for the company is the best strategy or the best direction since it helps drive the business forward (Gobble, 2018). The company recently came up with a new slogan: Best Buy 2020: Building the New Blue. This slogan has come to ensure the growth of the company.

Price

Best Buy Company uses a different pricing strategy than that commonly used in other companies. The company offers all its products at a very affordable price, and it often looks at the customers’ target groups before determining the prices. The company’s price is said to be 10% to 15% less than the competitors. The company intermediaries are likely to receive a 20% online discount, and they are guaranteed free shipping. This is a way that helps the company to understand the needs of the customers and their opinions about the provided services.

 

References

Chernev, A. (2020). The marketing plan handbook. Cerebellum Press.

Gobble, M. M. (2018). Digital strategy and digital transformation. Research-Technology Management61(5), 66-71.

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