Swot Analysis Of Best Buy Company

Strategic audit of Best Buy Company
Corporate structure
Best Buy Corporation, which has its headquarters at Richfield, deals with products varying from home appliances, to PCs and numerous personal electronics. Best Buy's mission is to make technology deliver on its promises to customers.
Best Buy's principal objectives, as a public company is to sustain growth and earnings. For this to continue to work, they have to be frequently review their business model to make sure that it is pleasing customer needs and desires as effectively and completely as possible. The company attempts to have not only wide-ranging product offerings but also exceedingly trained workers with broad product knowledge.
The corporation encourages its staff to go out of their way to help clients comprehend what these products can do and how clients can get most out of the products they buy.
Workers have to understand that each customer is unique and therefore they must decide what the best approach to help that customer would be to accomplish full satisfaction from the product(s) customers purchase.
Best Buy moved from being a discount retailer (a low-price strategy) to a service-oriented firm that relies on a differentiation strategy.
The decision making process in best buy corporation is decentralized. The decision-making authority is well distributed between employees. Employees, family members and other people are involved in important decisions that lead to the success of the company. The employees are well aware of people, of what happens in the organization, and are familiar with the geographical conditions of the company.
As improvements are made on the technology, the employees are prone to make mistakes with how to handle the products. Best Buy...

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...ere Wal-Mart is accused of selling products at very low prices, which affects the other retailers in the market. Online marketing is also possible in this corporation and thus products are easily accessible to many customers.
Marketing creates a healthy competition with other competitors which enables the company to remain in good relationship with the customers.
The marketing managers enhance good marketing segmentation, encourages sale of different products and good market research skills.
The company is managed such that it adjusts to the laws and regulations of different countries it operates thus making it successful.
The managers ensure environmental sustainability in the decision making process which should always be maintained.
Project managers have different roles in making the corporation successful where they portray their skills in the marketing field.