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In this Best Buy case study answer, we’ll explore the company’s positioning relative to competitors, as well as its competitive advantage and business-level strategy. The best buy case study answer discusses the reasons for Best Buy’s success and makes recommendations for future growth. The company is very large, compared to its competitors, so analyzing the company’s business strategy is extremely important. But how do you make that happen? You best buy case study answer from UK Essays London.
First, consider that Pearson best buy case study had a lot of similar products to its competitors. This means that consumers believe that the competition is a more convenient option. Secondly, it lacked an online presence as strong as Amazon. And, finally, its brand image had been tarnished by Amazon’s price-check app, which eroded its image. Given these factors, Best Buy needed to change its business strategy and focus on customer satisfaction.
In this Best buy case study assignment, you will learn about the company’s various stakeholders, including its employees, shareholders, and vendors. Best Buy depends heavily on its vendors to fulfill orders, ensure the quality of supplied products, and replenish items at a regular rate. If orders go unfilled, it disrupts its schedule and causes dissatisfaction among consumers.
During the course of research, you will learn about Best Buy’s strengths and weaknesses. Its strengths include its large market share in North America, a loyal customer base, and a loyalty program. While the company relies on its physical stores to generate revenue, it faces many competitors, including Amazon. Best Buy must make the necessary changes to stay competitive. The firm must also develop a profitable online sales model and improve its product mix.
The company has many challenges, including high fixed costs and a large break-even point. The company is unable to develop local insights to determine customer preferences, and its international division has failed to deliver desired results. It lacks centralized management and has no established integration of systems. It also has poor customer relations and may end up going out of business. However, the company’s high overheads may help it grow and thrive in the future.
In this Harvard case study, the authors of the book examine the transformation of Best Buy, a retailer that was losing money, had disengaged employees and a deteriorating brand. Joy Joly’s efforts helped the company turn things around, and she ultimately drove sales growth of 263 percent and a 263% increase in shareholder return. While the financial results were outsized, the company’s transformation was based on a purpose bigger than money.
As a consumer-oriented company, Best Buy has adapted to the changes in its industry and has been successful in Canada and Europe. However, Best Buy has had less success in China, which presents challenges to the company’s international expansion plans. It must consider the effects of these changes and determine how to capitalize on new opportunities to create a competitive advantage. For instance, a case study of Best Buy’s international expansion will show how the retailer can use new technology to increase sales and customer satisfaction. The company can also focus on developing a more innovative strategy, such as expanding its mobile services and international expansion.
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HBS case studies are also available in print. A subscription to the Harvard Business Review will provide you with access to nearly every case they have published over the years. The only drawback is that students can’t access all of them. However, you can use the Harvard Business Review digital articles database to limit your search to case studies. Another great resource for Harvard case studies is the Questrom School of Business. Some instructors also choose to create course packs from HBR.
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