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beat buy company is the largest retail company that comes from the USA. It was founded in 1966 named "Sound of Music" and for some natural disasters was renamed in 1983 in "Best Buy Company".
"The company opened his first store in 1966 and called it" Sound of Music ". After a Tornado had hit one of his shops in Roseville, Mn, it held a" tornado sale "and recovered later in 1983 under a new one Corporate name, best buy. "(Matthew Kemp)
The company is electronic objects, d. H. Entertainment Software, Office Products and other electronic products. It is a big market share in the financial world. From 1983, the company works in both the United States and Canada. In recent years, they expanded their business and made it globalizing it by starting it on the market in China. Over time, as the market grew, the profits of the company were also accelerated.
"Best Buy has seen large sales increases in recent years due to the demand for flat-screen TV. Sales increased in a total of 12.45% in the 2006 financial year and 16.49% in the 2007 financial year totaled 12.49%. It is unlikely that these margins are continued due to slow demand and reduce the prices for the TVs. "(Matthew Kemp)
Research shows that the company has more potential to increase its sales in the future, and it will also retain the largest market share.
There are a few factors that can cause the company, economic forces, social forces, cultural and environmental forces, political, legal and state forces, technological forces and competitive workers. These forces are important to rate the company.
There was always up and down in the economy. Either there is inflation or deflation. If the BSP is higher in the economy, the income also increases and people can spend their income on different objects. From recent years we enjoy a healthy economy. This factor also helps retail. In the future purchase of the best buy company, the profit can increase with the trend.
"The increasing GDP would be good for companies like Best Buy; However, the smaller GDP increase in GDP can have a negative impact on the best buy purchase sales, but the Best Buy share price, if investors predict that GDP falling in the future. "(Matthew Kemp).
Best Buy-Company is also socially committed and believes in literature by people about technology. They are socially responsible. The company has spent $ 13 million in Teach Awards for the school to know it from the new technologies about the classrooms. They also gave the students throughout the world scholarships.
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"Best buy shops have awarded $ 13 million in scholarships at almost 11,000 students nationwide".
In this modern world, where daily new technologies rise and often they are outdated. Under this scenario, the best buy company has to keep up to date and must be up to date on the new technologies. In this way, the company can survive under intense competition.
Wisconsin State Attorney The Attorney Official office took a serious civil action against the best buy company in 2005. They stated that the company violates the consumer protection law by misleading the people who mislead people about service plans, additional magazine subscriptions, etc.
If the company enjoys healthy profits, the company is also addressed with an intensive competition. The biggest competitor of the Best Buy Company are Dell, Wal-Mart, Circuit City and all the retailers that provide these products at reasonable prices. The company should also bring some changes in your business to stay in the top line. You should also offer your products online as other companies do.
"To overcome the online competitors, the Best Buy allows consumers to acquire their articles online. Consumers then have a way to look at the product in their home or pick up in a local Best Buy-Shop."(Matthew Kemp)
The internal forces include marketing and management of the company.
The company distributes a larger amount to the company's marketing positions. They spend millions of dollars on their website to provide people all information about their business and description over each individual product with which they deal with. Mostly they do business-to-business marketing for their business. You also have sent thousands of copies to your destination market, with the catalog being connected. With the changing trend, the company plans to open in-depth and outgoing call centers.
"In October, the company is planning to email a second catalog for larger companies. The catalog sells computers, cables and accessories as well as a smattering of the consumer electronics. To help with the efforts in large enterprises, is the best Buy a call center for incoming and outgoing calls. "
SWOT analysis will help to check the state of the company of internal and externally.
The best purchase is the specialized retailer in the US and Canada, who deals with electronic objects. The company enjoys the lead on the market due to its highest share. It is one of the leading companies in states with a total market share of 18%. Due to its large surgery, the company can capture the market and deliver the products to the spirited prices.
"Best Buy leads the retail electronics market in the US and Canada, taking over total sales in the 2006 financial year in the amount of USD 27,380 million. It has a market share of Consumer Electronics in the USA. The company with the big scope The operations used, the company was able to increase its negotiating performance with providers of consumer electronics and offer more competitive prices. "
The company can perform heavy operations in recent years. It increases by 15.2%. This number is much more than the average set in the same fiscal year. The company has shown that the company is efficient enough to capture the large market share.