Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 9 pages
Data source: Published sources
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https://casecent.re/p/66304
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Abstract
Minneapolis based Best Buy is a leading consumer electronics retailer in the US and Canada. Since its inception in 1966, Best Buy has grown through customer orientation by developing many concept stores to attract customers. However, due to specialty retailers and discount retailers in the US, Best Buy''s market share started eroding. To fend off competition, in 2004, Best Buy developed a new customer centric segmented stores model in selected markets, which were designed to target specific consumer segments like women and urban youth. The case, while highlighting the growth strategies of Best Buy, offers scope to discuss its new ''customer centricity'' model as a tool to sustain its future growth.
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Abstract
Minneapolis based Best Buy is a leading consumer electronics retailer in the US and Canada. Since its inception in 1966, Best Buy has grown through customer orientation by developing many concept stores to attract customers. However, due to specialty retailers and discount retailers in the US, Best Buy''s market share started eroding. To fend off competition, in 2004, Best Buy developed a new customer centric segmented stores model in selected markets, which were designed to target specific consumer segments like women and urban youth. The case, while highlighting the growth strategies of Best Buy, offers scope to discuss its new ''customer centricity'' model as a tool to sustain its future growth.