Best Buy SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 7358
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SWOT Analysis of Best Buy with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Best Buy

Parent Company

Best Buy

Category

Consumer electronics

Sector

Lifestyle and retail

Tagline/ Slogan

Best Buy

USP

Customer centric style

STP

Segment

Style and image conscious people

Target Group

Young population and corporate level people

Positioning

Customer centric store

SWOT Analysis

Strengths

1. Global Presence in China, Mexico, Puerto Rico, Canada apart from being a leader in USA
2. Reach to high customers through online media
3. Wide range of products in consumer durable including own brand products

4. Skilled workforce and salesforce with approx 180,000 employees

5. One of the largest music instrument distributor in US and can leverage on that brand name

6. Strong performance service plan

Weaknesses

1. Brand recall is limited outside USA

2. High competition in consumer durable category

Opportunities

1. Expanding into lifestyle segment
2. Attracting more customers by leveraging through online media

3. Penetration into the emerging economies to increase global visibility

Threats

1.Presence only in consumer durables so can be easily substituted

2. Brand recall as different brand names present

3. Change in govt policies to affect operations

Competition

Competitors

1.Circuit City

2.Fry’s Electronics

3.HHGregg



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