Best Buy Business Analysis

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Best Buy is a Minnesota based electronic corporation. It is known for its “technology products, services and solutions” (Best Buy). It was founded by Richard Schulze in 1966, and it was called Sound of Music at the time, the company had a name changed to Best Buy in 1983 (Best Buy). The firm currently generates about $40 billion annually and it currently has more 1,500 stores in North America, and it operates in Canada and Mexico (Best Buy). Best Buy currently benefit from oligopoly power, Walmart and Target are the only other competitive electronic stores, while Amazon is a constant threat to almost every business. In addition to electronics, Best Buy also sell home appliances and offer services like warranty, accidental service, computer

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