2. History
Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota.
1983 – New Name: Best Buy Co., Inc. (Appliances and VCRs)
1986 – CDs and Expanded Line of Photo- Equip.
1988 – Begin Selling PCs
1989 – New Logo, “Yellow Tag”
Richard Schulze is named Retailer of the Year for the third consecutive year by Consumer Electronics and Audio-Video International magazines.

3. 1994 - The Best Buy Children’s Foundation
Best Buy becomes the first national retailer to sell DVD hardware and software.
1998 – Sells its 1-millionth DVD and Offer HDTV
Best Buy acquires Magnolia Hi-Fi (renamed Magnolia Audio Video in 2003), a retailer of high-end consumer electronics
The acquisition of Canada-based Future Shop Ltd. marks Best Buy’s entrance to the international marketplace.
Best Buy opens first Canadian Best Buy store in Toronto, Canada.

4. An Innovative and Growing Company
Named a Fortune Blue Ribbon Company
Fortune 500
Global 500
Most Admired
Global Most Admired
Forbes Most Charitable
No. 1 in Stores Top 100 Specialty Retailers
Best Buy stores reach an estimated 300 million consumers per year in 48 states and online

5. Mission Statement
To give our customers great experiences – whether they are shopping for consumer electronics, home office products, entertainment software and appliances, or using those products and related services in their homes and offices.

6. Target Market Small business owners
Customers seeking top-of-line products and reliable service
Customers with demanding schedules

7. Locations 733 US Stores 3 Separate Specialty Stores
In Oregon, 6 Stores
The Closest: Springfield, Salem and Beaverton.
3 Separate Specialty Stores
Future Shop – Canada (119)
Magnolia – Video and Audio (20)
Geek Squad – Stand Alone (13)US (4) Canada

8. # of Stores

9. Competitors Intratype:
Circuit City, Fry’s Electronic, Radio Shack, CompUSA, Video Only (Beaverton)
Intertype:
Wal-Mart, Fred Meyer, Sears, Target and Big K

10. Layout/Atmosphere Warehouse Atmosphere Loop Layout
As you walk in, you are guided to the right.
Cell Phones, Mp3 Players, Computers, Computer accessories, Laptops, Printers, Software, Video Games, Plasma TVs, DVD Players and TIVO.
Left side of Store
DVDs, CDs, Home and appliances
Refrigerators, Washer and Dryer, Microwaves.

11. Merchandise Mix

12. Helping out the Community
Scholarships – To Graduating H.S. Seniors.
– Awards schools with products and services.
Red Cross Donations – Provide Support in times of disaster.
United Way Donations
Non-Profit Donations
Recycling
Each year, Best Buy donates 1.5 percent of pretax earnings to its giving programs.
In fiscal 2005, Best Buy and the Best Buy Children’s Foundation donated $19 million.

13. What’s the Next Step New Expansion Eliminate Mail-in Rebates
8 US Stores opened Feb. 24, 2006
East Coast
Eliminate Mail-in Rebates
In January, Best Buy kicked off a Two-Year Plan, Allowing Customers to receive Instant Saving.
Online Rebates
Improves Overall Shopping Experience.

14. Services The “Geek Squad” Business Solution Center
Technicians that are experienced with every electronic product.
Service Plans
2 year Product Replacement Plan
Business Solution Center
Business Division
Rebates and Warranties
Mail-in, New Online Rebates and Instant rebates.

15. Store Experience My Best Buy Experience Others Best Buy Experience
Always Great
What’s New
New Electronic Toy or Stuff on sale.
Others Best Buy Experience
Returns and Service Plans
Rebates and Repairs

16. Sources