BEST BUY-A MARKETING EXCELLENCE
DEEPAK MISHRA-(B.TECH)
NIT CALICUT
COMPANIES DELIVER TOP-NOTCH CUSTOMER VALUE !!
BUTHOW DO
RETAILERS AND
WHOLESALERS
DELIVERS
VALUE?
ManufacturerAnd
RetailerAre
Collaborative and
Competitive!
KEY CONCEPTS
What is Retailing?
SELLING GOODS!
MUMMY !TOFFEECHAHIYE!
Store retailers
Non storeRetailers
RetailOrganisations
Types of Retailers
Self -service
Self-selection
Limitedservice
Fullservice
STORE RETAILERS
NON -STORE RETAILERS
Direct marketing
Buyingservice
Automatic vending
Direct selling
FRANCHISEE
CORPORATE
CHAIN
STORE
VOLUNTARY
CHAIN
CONSUMER
COOPERATIVE
MERCHANDISING CONGLOMERATE
RETAILER
COOPERATIVE
Retail Organisations
The modern Retailing changedDue to:
1.Competitive retail Market structure
2.Role of Technology
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.
BEST BUY-A MARKETING EXCELLENCE
CASE STUDY-POINTS TO REMEMBER!!
CONSUMER ELECTRONICS RETAILER
CUSTOMERFRIENDLY
CUSTOMERSERVICE
PERSONAL SERVICESANDWARRANTIES
SELLING SERVICES
Tech Geeks
BUSY SUBURBAN
MOMS
YOUNG GADGETS ENTHUSIAST
PRICE CONSCIOUS DAD
Personal shopping Assistants for Suburban moms
KnowledgeableSales person forTech geeks!
Sales declined due to single channel strategy
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.
Focussed suburban
moms(time conscious)Highly customized products and services
Lucrative consumers Advertising and
print ads
Geek squads!-post sales service
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
Limited DeliveryOptions!
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.
BUYING SERVICE –
Non store retailing
DIRECT MARKETING
PRACTISING SHOPPER
RETAILING! …AT STORES
Tami Chatfield Do not order from Best Buy!! My Christmas will be sad because
I believed them about their delivery and service!! Crushing blow to the
family at Christmas time!!
AVOID! SUCH
EXPERIENCES
New Retail Forms
New markets
Retailing Other products
Online order and –FASTER delivery!
GLOBAL EXPANSION!
SPONSORSHIPS!
1.Global expansion
3.Franchising
4.Online Retailing And direct marketing
2.Practicing shopper Retailing
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/