BEST BUY is the Worlds largest consumer-electronic retailer and the Worlds leading technology store. It operates in 13 countries like Mexico, Canada, China, Turkey and the United Kingdom. The number of employees are 180,000. Total revenue is US$ 49.694 billion. The company's corporate headquarters are located in Richfield, Minnesota,US. INTRODUCTION
BEST BUY sells consumer electronics as well as a wide variety of related merchandise such as; Computers Computer Softwares Video games Music CDs and DVDs Blu-ray discs Mobile phones Digital cameras Car Stereos Video Cameras and Home Appliances
It operates its retail stores under the brand names Best Buy, Future Shop, Magnolia Audio Video and Geek Squad and an outlet store on eBay. The group has over 4000 stores domestically and internationally. CHAIN RETAILERS
Best Buy Zoomshops offers popular electronic items, such as digital cameras, portable music players, computer accessories and cell phones. NONTRADITIONAL RETAILING In addition, the company has rolled out over 100 Best Buy Express Automated Retail stores or "ZoomShops", operated by Zoom Systems, in airports and malls around the U.S.
Since its inception in 1966, Best Buy has grown steadily and enhanced its business through inspired innovations. They are continually transforming into a dynamic, customer-driven, talent-powered company that focuses on enhancing their customers' enjoyment of technology. Like many companies, they come from humble beginnings. They have been challenged signicantly from time to time and they have learned, changed and grown from each of these challenges. HIS HHIISSTORYTORYHHIISSTORYTORY
Today, Best Buy operates a global portfolio of brands with a commitment to growth and innovation. Their employees strive to provide customers around the world with superior experiences by responding to their unique needs and aspirations. This commitment to growth and customers has driven strong, consistent earnings growth. Retail is a business that requires constant innovation, new ideas, new ways to delight their customers and new ways to work together. To meet the unique product and service needs of their customers, their stores and operating models are being transformed to shift their focus from product-centric to customer-centric a move that poises Best Buy to truly offer the entertainment and technology solutions that meet their customers' needs.
SlingBox Solo is the technical product which allows watch television with network connection in everywhere. Alienware is the exclusive computer brand.It has high performance,high screen card and developed multimedia specialty. These two brands are sold only Best Buy in Turkey.
Best Buy's concept of customer centricity was configuring its stores to serve the needs of the particular customer segments that predominated in the area of each store. Some of the ways that the Best Buy company transformed its stores for a customer segmentation were using different types of store signage, fixtures, lighting and even uniforms. One of the things the company did for some segments was to create a personal shopping assistant, so that a customer could call and make an appointment for their shopping trip. DEMOGRAPHICS
Stores are opened 10.00 a.m. and closed 10.00 p.m. Best Buy stores have free opened and covered carparks. Design of stores help people to reach products easily. People can buy product with cash or credit card. Also, have an installment purchase possible. Up to 12 Months Interest Free Payments or Buy Now and Dont Pay for 12 Months are Best Buys special campaigns. CUSTOMER SERVICE
Their technology support services cover a range of technology including, mobile phones, laptops, TVs, MP3/4 players, printers, digital cameras and many more devices, so whatever their customers have bought they can help them set it up, get the most from it once they've started using it or get they up and running again if it has broken down. 24/7 telephone technology support 24/7 remote assistance In store At home
Magnolia system provide to try home theater system with isolated place in Best Buy like at your home. This system is only used from Best Buy.
Best Buy only have their own salespeople who are called Blue Shirts. Best Buy train their salespeople to concentrate on customers who have different demands and wants. Also, they take technical courses to inform customers efficiently about products and their features.
Best Buy generally use wide areas because they provide people high width and high depth of assortment. The store offers 1,500 products from more than 300 brands. Best Buy building exteriors are usually light brown in color with the entrance in an area designed to look like a blue-box emerging from the rest of the structure. They have a group to analyze the competitiors sales prices and discounts frequently.This group regulate Best Buys prices because Best Buy s aim that their product prices will not exceed those in the rest of the market. The store not only seeks to sell consumer goods but also hopes to meet their needs and demands. For this reason, Best Buy provide customer-oriented service.They give technical support,delivery and installation service, and after sales support. STRATEGY MIX
Products categorized with other related products such as computers and computer equipments. They developed the Guaranteed Package concept, according to which they accept the returns of all products sold for under TL 200 and offered under this concept within three years if they break down. Also, they offer the Extra Guaranteed Package option to provide their customers the option of extending the regular warranty period by another three, four or five years. Best Buy uses weeks sales flyer and are shown to customers with some kind of advertisements.
Best Buy was named "Company of the Year" by Forbes magazine in 2004. "Specialty Retailer of the Decade" by Discount Store News in 2001. Ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine in 2005. And,made Fortune magazine's List of Most Admired Companies in 2006. Best buy also took Store Fixtures 2010 thanks to Best Buys Izmir store.