best buy a marketing excellence,concepts of managing retailing,wholesaling and logistics

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/