Best Buy SWOT Analysis
Best Buy is one of the leading brands in the lifestyle and retail sector. Best Buy SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Best Buy:
Quick Glance:
Best Buy Strengths
- Global Presence in China, Mexico, Puerto Rico, Canada apart from being a leader in USA
- Reach to high customers through online media
- Wide range of products in consumer durable including own brand products
- Skilled workforce and salesforce with approx 180,000 employees
- One of the largest music instrument distributor in US and can leverage on that brand name
- Strong performance service plan
Above are the strengths in the SWOT Analysis of Best Buy. The strengths of Best Buy looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Best Buy Weaknesses
- Brand recall is limited outside USA
- High competition in consumer durable category
These were the weaknesses in the Best Buy SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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Best Buy Opportunities
- Expanding into lifestyle segment
- Attracting more customers by leveraging through online media
- Penetration into the emerging economies to increase global visibility
Above we covered the opportunities in Best Buy SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Best Buy Threats
- Presence only in consumer durables so can be easily substituted
- Brand recall as different brand names present
- Change in govt policies to affect operations
The threats in the SWOT Analysis of Best Buy are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the Best Buy SWOT analysis.
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About Best Buy
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Best Buy Overview | |
|---|---|
| Parent Company |
Best Buy |
| Category |
Consumer electronics |
| Sector | |
| 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.
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