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You even can be provided with some case study examples to ensure the high quality of our papers. Our writers can handle any type of writing as they have knowledge and skills in all areas of writing on the market. That's why we are proud of having such a team of professional and skillful writers. Be sure that you will get only 100% original text according to the deadline you've set. Best buy company, incorporated henceforth: best buy is a publicly traded retailer that operates electronics and entertainment stores primarily within north america, though it does operate some stores within china. Though most of the company’s operations are maintained under the best buy brand, the company also operates a variety of niche brands, some of which are integrated into best buy’s retail stores, others of which are freestanding retail storefronts best buy co. These brands all focus on appliance, home information technology, or entertainment technology sales and services.

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This case study, written by one of our best writers, dissects the corporation and its recent growth and achievements. If you are interested in buying research papers or essays from our awesome company, give us a call today! our writers work around the clock to ensure our clients’ academic success and our services are rated as the best on the internet. When it was founded in 1966, the best buy company’s original focus was sales of home and car stereo systems at retail stores called sound of music , which expanded from a single store operation located in st. By 1982, the company had expanded its range of product offerings to include home appliances and vcrs, and in the following three years, would change its name to best buy co. The company’s new name stemmed from a promotion where a massively promoted annual sale – the tornado sale named after a tornado hit one of the company’s stores – was billed as a best buy for consumers eventually, the popular sale’s name was adopted as the company’s new brand image.

This change in the company’s brand name marked a large shift in strategy for the company. For the preceding two years, the company’s founder and chairman, richard schulze, had been attempting to steer the company’s direction away from catering to buyers of audio equipment, largely thanks to inspiration he credits to a management seminar he attended in 1981. Schulze had realized that the buyers of such equipment tended to be young, and that the audio equipment market was increasingly saturated with other brands. Hence, he decided to re orient the company’s strategy towards catering to the needs of a broader, older, and generally more affluent customer base. This strategy was extremely successful – after 1984, the company experienced explosive growth in the midwest region, while simultaneously using expanded warehouse size and a low cost ‘superstore’ operations strategy to reduce operations costs and thus product markup.

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Through the early 1990s, the company’s aggressive retail tactics – such as converting retail operations into hybrid warehouse superstores which cut overhead by reducing employee costs , and focusing on offering a diverse array of products, such that best buy stores became one stop shopping destinations for consumer electronics, appliances, and associated accessories. These strategic shifts allowed the company to survive vicious price wars in the consumer electronics market in the late 1980s, and later allowed it to emerge as the consumer electronics hegemon in the 1990s, though many factors contributed to several years of mediocre earnings throughout that decade funding universe. More recently, in the wake of the collapse of best buy’s primary retail competitor – circuit city – the company’s continued efforts to diversify its offerings and target specific segments of the consumer electronics market has been credited as a key reason in why the company avoided the demise that other electronics retailers circuit city, compusa, and others have faced since the beginning of the 20th century serres. In addition to continuing to adapt its offerings within north american markets, the company is continuing to pursue market development efforts within international markets, mostly in asia, europe, and latin america. However, the company has been facing declining revenue in consumer electronics market segments such as gaming, digital imaging, televisions, and notebook computers, which contributed to a staggering drop in profits during the company’s second fiscal quarter of 2012. The company saw a 91% drop in profits, and the value of the company’s stock dropped to a 9 year low blackden, profits plunge at troubled best buy, 2012.