Best Buy Case Analysis

Essay by bucbucCollege, UndergraduateA+, November 2009

download word file, 17 pages 5.0

I. MissionBest Buy has been changing their mission statement through the years which can be looked at as their weakness not being able to provide a stable one.

"Our formula is simple: we're a growth company focused on better solving the unmet needs of our customers-and we rely on our employees to solve those puzzles. Thanks for stopping. "Company's mission in 2005: "Best Buy mission is to bring technology and consumers together in a retail environment that focuses on educating consumers on the features and benefits of technology and entertainment products".

Revised Mission statement: Best Buy's mission is to bring technology and consumers together in a retail environment. We strive to meet and exceed our customers' expectations and preserve our public image as the leading low-cost specialty retailer. We are dedicated to providing the best quality electronics and home office equipment in the North American retail industry. As a leading technology provider we strive to incorporate the best, most reliable technology into our everyday operation to ensure efficiency and maximize revenues.

Best Buy as a whole feels that success is not only dependent on our growth and profitability, but also the well being of our employees and the satisfaction of our customers.

The latest motto however is "Buyer be happy."II. SWOT Analysis (minimum 3 each)A. Strengths1.Largest electronic specialty retailer in the USBest Buy's strength is that they are a very large, well known company. They have always been on the forefront of carrying the newest and most technologically advanced products. They operate two main business segments: domestic and international.

2. Offers variety of products at lower prices compared to smaller retailersBest Buy provides good quality products at a great price. They also understand that customers want hassle free shopping, which draws consumers into their store to window shop. For...