Best Buy found in
1966 in Richfield, Minnesota. They are multinational electronics retailers, who
provide products, services and solutions in the U.S, Canada, and Mexico. In
fiscal 2017, Best Buy expected more than $39 billion in revenues with
1,200 large-format and 400 small-format stores in
Domestic and International. A main element of Best Buy’s strategy is offering best
levels of customer service and a full range of service to complement the
products they offer. From there, they explore their strategy in different
actions included:

Ø   
Keep track and
manage their inventory levels to match quantities on hand with customers demand
as closely as possible. Best Buy continuous monitoring of historical and
projected consumers demand and adjustment of inventory receipt levels,
agreement with vendors relating to reimbursement for the cost of markdown or
sale incentives and agreements with vendors relating to return privileges for
certain products.

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Ø   
Expand their
stores to maximize the customers. They will continue to optimize their
stores space, renegotiate leases and selectively open or close location to
support operations. They opened vendor store-within-a-store concepts to allow
closer vendors and provide better quality customer experiences.

Ø   
Continuous
improvement to communitie responsibility corporation. Effectively managing
their environmental impacts, setting sustainability goals and advancing
engery-effcient consumer solutions create long-term value. They are
continuously looking for cost-effective solutions to minizine carbon emissions
in their operations.

Ø   
Offer high quality services and assistance to their customers. The turnover rate
in the retail industry is relative high, and there is a need to recruit, train,
and engage new employees.

Beside Best Buy,
there are many different competitors, who have more growth opportunities than
Best Buy such as internet-based businesses, technology service providers, and
mobile network carriers. However, Best Buy still is a winning competitive
advantage by respected their customers value and satisfaction. They could not
offer lowest prices to their customers because many competitors are
internet-based businesses operate with limit taxes and international retailers
with different currencies. Otherwise, Best Buy offers their customers quality
products and customer services. In recently, they corporate with different
mobile network carriers and companies. By this way, their customers have more
choices and less competitors. They put their customers value on top of the
line. Their stores represent an important competitive advantage. Their
customers don’t have to wait for a week or drive too far to get what they need.
Customers can pick up their orders online in any of Best Buy’s stores. They can
also come in to talk and ask about the products face-to-face. Returning and
buying products or services would be easily and fast for the customers.Best Buy found in
1966 in Richfield, Minnesota. They are multinational electronics retailers, who
provide products, services and solutions in the U.S, Canada, and Mexico. In
fiscal 2017, Best Buy expected more than $39 billion in revenues with
1,200 large-format and 400 small-format stores in
Domestic and International. A main element of Best Buy’s strategy is offering best
levels of customer service and a full range of service to complement the
products they offer. From there, they explore their strategy in different
actions included:

Ø   
Keep track and
manage their inventory levels to match quantities on hand with customers demand
as closely as possible. Best Buy continuous monitoring of historical and
projected consumers demand and adjustment of inventory receipt levels,
agreement with vendors relating to reimbursement for the cost of markdown or
sale incentives and agreements with vendors relating to return privileges for
certain products.

Ø   
Expand their
stores to maximize the customers. They will continue to optimize their
stores space, renegotiate leases and selectively open or close location to
support operations. They opened vendor store-within-a-store concepts to allow
closer vendors and provide better quality customer experiences.

Ø   
Continuous
improvement to communitie responsibility corporation. Effectively managing
their environmental impacts, setting sustainability goals and advancing
engery-effcient consumer solutions create long-term value. They are
continuously looking for cost-effective solutions to minizine carbon emissions
in their operations.

Ø   
Offer high quality services and assistance to their customers. The turnover rate
in the retail industry is relative high, and there is a need to recruit, train,
and engage new employees.

Beside Best Buy,
there are many different competitors, who have more growth opportunities than
Best Buy such as internet-based businesses, technology service providers, and
mobile network carriers. However, Best Buy still is a winning competitive
advantage by respected their customers value and satisfaction. They could not
offer lowest prices to their customers because many competitors are
internet-based businesses operate with limit taxes and international retailers
with different currencies. Otherwise, Best Buy offers their customers quality
products and customer services. In recently, they corporate with different
mobile network carriers and companies. By this way, their customers have more
choices and less competitors. They put their customers value on top of the
line. Their stores represent an important competitive advantage. Their
customers don’t have to wait for a week or drive too far to get what they need.
Customers can pick up their orders online in any of Best Buy’s stores. They can
also come in to talk and ask about the products face-to-face. Returning and
buying products or services would be easily and fast for the customers. Customers
focus is the smart way to winning a competitive advantage for a long-term goal. Customers
focus is the smart way to winning a competitive advantage for a long-term goal.