Best Buy SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Best Buy, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
Best Buy is one of the leading brands in the lifestyle and retail sector. The article below lists the Best Buy SWOT and includes its target market, segmentation, positioning & USP.
In this article:
For Best Buy, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Best Buy looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value.
A list of strengths is mostly the starting point in starting SWOT analysis. Below are the Strengths in the SWOT Analysis of Best Buy :
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
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Best Buy SWOT Analysis:
1. Brand recall is limited outside USA
2. High competition in consumer durable category
Read more about Best Buy
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Best Buy SWOT Analysis:
1. Expanding into lifestyle segment
2. Attracting more customers by leveraging through online media
3. Penetration into the emerging economies to increase global visibility
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Best Buy are as mentioned:
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
Hence this concludes the Best Buy SWOT analysis.
Continue reading more about the brand/company.
|Best Buy Overview|
Customer centric style
|Best Buy STP|
Style and image conscious people
Young population and corporate level people
Customer centric store
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
Browse marketing analysis of more brands and companies similar to Best Buy. This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.
The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. The companies are not associated with MBA Skool in any way.
Edit the brand or add a new one to SWOT Analysis section : Contribute
What is MBA Skool?About Us
MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals.
Quizzes & Skills
Quizzes test your expertise in business and Skill tests evaluate your management traits
All Business Sections
Write for Us