Best Buy SWOT Analysis, Competitors & USP

Posted in Lifestyle and Retail, Total Reads: 12318

SWOT analysis of Best Buy analyses the brand/company with its strengths, weaknesses, opportunities & threats. In Best Buy SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Best Buy to benchmark its business & performance as compared to the competitors and industry. Best Buy is one of the leading brands in the lifestyle and retail sector. The table below also lists the top Best Buy competitors and elaborates Best Buy market segmentation, target group, positioning & Unique Selling Proposition (USP).

Best Buy SWOT, Competitors, Marketing STP & Brand analysis Table
Best Buy Brand Analysis
Parent Company

Best Buy

Category

Consumer electronics

Sector

Lifestyle and Retail

Tagline/ Slogan

Best Buy

USP

Customer centric style

Best Buy STP
Segment

Style and image conscious people

Target Group

Young population and corporate level people

Positioning

Customer centric store

Best Buy SWOT Analysis
Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Best Buy. Strengths are:

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

Here are the weaknesses in the Best Buy SWOT Analysis:

1. Brand recall is limited outside USA

2. High competition in consumer durable category

Opportunities

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

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

Best Buy Competition
Competitors

Below are the top 3 Best Buy competitors:

1.Circuit City

2.Fry’s Electronics

3.HHGregg

The brandguide table above concludes the Best Buy SWOT analysis along with its marketing and brand parameters.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Best Buy. The BrandGuide section covers SWOT Analysis, USP, STP & Competition of more than 6000 brands from over 20 categories.

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