A- Past Performance:
Best Buy Co. Inc., is a company that was found in 1966 and has been since a provider of electronics/technology products as well as offers repair and installation services to its customers. The company has international stores in countries like China, Mexico, and Canada, but its domestic segment is the largest and strongest and its stores are spread all over the United States (approximately a store that is 15 minutes away from where every individual lives). Best Buy 's holdings include Geek Squad, Magnolia Audio Video, and Pacific Sales. The company generates around $50 billion annually. Some of the company 's competition are Walmart, Amazon, Target, and online retailers.
In 2006, Best Buy was considered …show more content…
If the salesman is informative, humble, and cooperative, their customer will be happy and most likely will buy the product. BB 's mission Statement for 2013 says "Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers and we rely on our employees to solve those puzzles. Thanks for stopping."
• Increase …show more content…
Some of the changes that Best Buy had to do was to lay off some of its employees.
Best Buy has lots of strong competitors out there like Walmart, Target, Staples, Amazon, but online retailers might be a bigger competition than the formers because people and especially young generations are switching to online shopping more and more everyday which makes it a sociocultural problem. However, one of the new goals/strategies that Best Buy is trying to fulfill is to grow its online sales. It has created BestBuy.com and the Best Buy app to make it easier for people to browse website and see their products and order them online without having to visit the store. Thus, Best Buy not only increased its online sales and also beat a sociocultural threat. This also leads me to one of the technological advantages of online shopping which is the fact that the consumer can use technology (a computer or a smartphone) to browse the websites of Amazon, Staples, Walmart, as well as Best Buy and compare their prices and quality while using the