Case Study: Best Buy

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Best Buy Fights for Survival Best Buy is one of the leading providers of consumer electronics. It was founded by Richard Schulze and the CEO until 2012 was Brian Dunn. During this period, Best Buy had seen many highs and some uncomfortable lows. It was a $50 billion Fortune 100 company and was the place for anyone to visit for electronics. Best Buy provided many job opportunities in the U.S. There were 125,000 employees in the America and 170,000 worldwide. The company reached a total of 1,055 stores by 2013. Despite being a big-box electronics store it faced the challenge that most stores faced which was bankruptcy and struggling to pay its obligations when they are due. The company was no longer appeasing to their customers and losing …show more content…
Hubert Joly became president and CEO of the company and seized the opportunity to discuss with administration plans to turn Best Buy around. So, November 1, 2012 the company held an Analyst and Investor Day to discuss leadership and look at estimated third quarter earnings. Joly stated that the goal was to get more connected to the customers, put its employees at the front line, and accelerate a …show more content…
They knew they’re public and the situation they may have gone through and was able to use that to the best of their abilities. Best Buy made great decisions on how they responded to the analyst feedback of needing to improve sales and customer presence. They were prompt after the resigning of President and CEO in 2012 and responded to the public immediately. They released multiple news releases that allowed more people to keep track of what was going on within the company. I think the commercial was a great way to show a customer and employee relationship that all customers could experience when entering a store. They also told the results honestly and upfront and told the strategy they plan to fix things, which was really good. I would recommend to Best Buy to continue the offering of matching prices and offering incentives for customer loyalty. They should also open a line of 2 way communication. Have some way maybe social media driven to allow customers to give feedback. Overall this case was full of good PR strategies and

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