Best Buy Marketing Case Study Robert Paul
Author : jane-oiler | Published Date : 2025-05-16
Description: Best Buy Marketing Case Study Robert Paul Ellentuck EMBA 2011 Marketing Management Professor Hassan 16 October 2009 COPYRIGHT 2009 ROBERT PAUL ELLENTUCK Industry Overview Industry Big box concept Specialty Store in Consumer Electronics
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Transcript:Best Buy Marketing Case Study Robert Paul:
Best Buy Marketing Case Study Robert Paul Ellentuck EMBA 2011 Marketing Management Professor Hassan 16 October 2009 COPYRIGHT © 2009 ROBERT PAUL ELLENTUCK Industry Overview Industry Big box concept Specialty Store in Consumer Electronics Segment Major Players for Consumer Electronics Top 5 2002: Best Buy, Wal-Mart, Circuit City, Dell, Amazon.com Top 5 2008: Dell, Best Buy, Wal-Mart, Circuit City, CDW Market Development Emerging “discount” retailers emerging -consumer choosing price over service/support Competition online “etailers” growing - free delivery on large purchases Consumer base evolving from technological novices to technologically competent Sources: Lal, R., Knoop, CC-I., and Tarsis, I. (October 2006;, Spinali, L. and O’Hier, J. (2009); Pressler, M.W. (2004) Industry Overview – cont’ “Big Box” push to increase sales of high margin products Emphasis evolved to offering service and support to customers Consumers now focusing more on price over service and support Popularity of online purchasing increased; free shipping and delivery “Big box” concept declining; scaled-down version of stores emerging Top 5 Consumer Electronics Merchandiser Comparisons 2003 Source: United States Securities and Exchange Commission via their web (2009) and Lal, R. , Knopp, CC-I., and Tarsis, I, (October 2006) Top 5 Consumer Electronics Merchandiser Comparisons 2008 Source: United States Securities and Exchange Commission via their web (2009) and Spinali, L. and O’Hier, J. (2009) Company Overview Sound of Music 1967- St. Paul, MN “Best Buy” Sale @ SOM tornado hit 9 Stores -1981 Public Offering - $33.6M 12 Stores - 1986 Best Buy Becomes company name - 1983 “Grab and Go”– New Logo- 1989 2nd Largest Consumer Electronics Retailer - 1993 Customer Centricity Implemented - 2003 Fortune names Best Buy Top 10 performing stock, 2000 Best Buy Mobile stores & Geek Squad to Europe 2003 Global Expansion - Asia, Europe, Mexico, Turkey 2003-present Fortune 500 Top Co #56 - $45 Billion 2009 CEO Dunn replaces retiring Anderson 2009 Source: Bestbuy.com, Fortune (5/4/09) Company Overview (Consumer Driven) “We believe that focusing on customers' needs generates growth opportunities” “At Best Buy, we aspire to be a responsible, values-driven global corporation – we believe that's what you expect” “And we believe in customer centricity - the idea is that a customer isn't just looking for a product, but a solution or experience that improves her life” Ranked highest in customer satisfaction among national and multi-regional from 2009 report by J.D. Power and Associates Sources: Bestbuy.com, Wolfe (2009) Company Overview (Evolving Customer Centricity) Customer-centricity
