Best Buy SWOT Analysis

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.

SWOT Analysis of Best Buy

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.

Best Buy Strengths

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

Best Buy Weaknesses

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

Best Buy Opportunities

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

Best Buy Threats

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.

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About Best Buy

Best Buy Overview
Parent Company	Best Buy
Category	Consumer electronics
Sector	Lifestyle and Retail
Tagline/ Slogan	Best Buy
USP	Customer centric style
Best Buy STP
Segmentation	Style and image conscious people
Target Market	Young population and corporate level people
Positioning	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.

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