best buy-a marketing excellence case study,concepts of managing retailing,wholesaling and logistics
TRANSCRIPT
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BEST BUY-A MARKETING EXCELLENCE
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DEEPAK MISHRA-(B.TECH)
NIT CALICUT
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COMPANIES DELIVER TOP-NOTCH CUSTOMER VALUE !!
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BUTHOW DO
RETAILERS AND
WHOLESALERS
DELIVERS
VALUE?
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ManufacturerAnd
RetailerAre
Collaborative and
Competitive!
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KEY CONCEPTS
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What is Retailing?
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SELLING GOODS!
MUMMY !TOFFEECHAHIYE!
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Store retailers
Non storeRetailers
RetailOrganisations
Types of Retailers
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Self -service
Self-selection
Limitedservice
Fullservice
STORE RETAILERS
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NON -STORE RETAILERS
Direct marketing
Buyingservice
Automatic vending
Direct selling
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FRANCHISEE
CORPORATE
CHAIN
STORE
VOLUNTARY
CHAIN
CONSUMER
COOPERATIVE
MERCHANDISING CONGLOMERATE
RETAILER
COOPERATIVE
Retail Organisations
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The modern Retailing changedDue to:
1.Competitive retail Market structure
2.Role of Technology
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Key areas to focus due to changes in Retail environment:
1.Target market
2.Channels
3.Product assortment
4.Prices
5.Services
6.Store activities and experiences.
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BEST BUY-A MARKETING EXCELLENCE
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CASE STUDY-POINTS TO REMEMBER!!
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CONSUMER ELECTRONICS RETAILER
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CUSTOMERFRIENDLY
CUSTOMERSERVICE
PERSONAL SERVICESANDWARRANTIES
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Tech Geeks
BUSY SUBURBAN
MOMS
YOUNG GADGETS ENTHUSIAST
PRICE CONSCIOUS DAD
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PERSONAL SHOPPING ASSISTANTSFOR SUBURBAN
MOMS
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Knowled-geable sales person for tech geeks
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Sales declined due to single channel strategy
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What were the keys to Best buy success? What are the challenges it faces in today’s retail environment?
ANALYSIS keys to success of best buy:- Good customer service through geek squads.- Creative target segmentation- Most of the revenue generated from lucrative
consumers and affluent tech geeks.- Merchandised more profitable products like smartphone
rather than declining categories like entertainment.- Integrated marketing communications through ads,
print media etc.- offered highly customized products and gained
premium price and customer loyalty.
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Focussed suburban
moms(time conscious)Highly customized products and services
Lucrative consumers Advertising and
print ads
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TO OVERCOME competition from
LOW PRICED STORES
LIKE WALMART, COSTCO etc.
To compete with
Online retailers
, Millennial’s prefer
online shopping
Narrow
selective
target
market
Core competence
With private labels
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How else can Best buy compete against retail competitors like Wal-Mart and Costco as well as online competitors like amazon.com?
- To gain competition from other retailer:- Best buy can promote itself in Buying service non-
stores type retailing.- By Direct marketing through direct mails, social
networks etc.- Expand it in other products retailing, electronic
consumer retailing in a long run may face severe competition in future due to young professionals, GENERATION Y and Lucrative consumers
- Best buy is a well established retailer so it can compete by using private labels in goods, which will impulse a high revenue.
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BUYING SERVICE –
Non store retailing
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DIRECT MARKETING
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PRACTISING SHOPPER
RETAILING! …AT STORES
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New Retail Forms
New markets
Retailing Other products
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Online order and –FASTER delivery!
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GLOBAL EXPANSION!
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1.Global expansion
3.Franchising
4.Online Retailing And direct marketing
2.Practicing shopper Retailing
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REFERENCES1.presentrationpro.com
2.https://www.google.co.in/search?q=best+buy+images+hd&oq=best+buy+images+hd&aqs=chrome..69i57.51398j0j7&sourceid=chrome&ie=UTF-83.youtube.com
4.google,com
5. https://www.facebook.com/Best-Buy- Memes-304903929566311/
6. https://www.facebook.com/bestbuy/
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