Best Buy Strategic Analysis Essays
Sorry, but copying text is forbidden on this website! Was founded in 1966 by Richard Schulz under the name Sound of Music. The company headquarters are located in Minnesota, and the company is the largest retailer of consumer electrical appliances in the US with more than 1200 stores (Wikinvest, 2012).
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Intuitive Thinking
In FY2008, the company had net revenue of $40 billion. Financial crisis that proceeded in 2008 had a significant impact on the consumer behavior and consequently affected electronics market. The electronics market is subject to discretionary purchases and therefore prone to downturns. Some of the competitors of the company such as Circuit have filed for bankruptcy in the recent past while Best Buy has been prospering. Best Buy also benefits from Repair services and Installations. These services cushion the company against recessions since the company is viewed by many people as a necessity rather than commodity.
Strategic Analysis Example
Brands of the company include Best Buy Mobile, Best Buy, Pacific Sales, Geek Squad, and Magnolia Audio Video (Bensen, Haddi, Fitzsimmons & Marotske, 2012). In 2001, the company became an international company after it acquired Future Shop that was the market leader at the time. The company entered into china, one of the largest consumer markets in the world, in 2006 after it acquired Five Star Appliances.
