Positioning, Repositioning, Reverse Positioning strategies Case Study

Best Buy's 'Customer Centricity' Model: The Segmented Stores

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Abstract:
Minneapolis-based Best Buy is a leading consumer electronics retailer in the US and Canada. Since its inception in 1966, Best Buy has grown through customer orientation by developing many concept stores. However, due to competition from specialty retailers and discount retailers in the US, Best Buy's market share started eroding. To fend off competition, in 2004, Best Buy developed a new customer centric segmented stores model in selected markets, which were designed to target specific consumer segments like women and urban youth.

Pedagogical Objectives:

• To highlight the growth strategies of Best Buy
• To discuss the 'customer centricity' model of Best Buy as a tool to sustain its future growth.

Keywords : Best Buy; Customer centricity model; Growth strategies; The segmented stores; Customer focus; Concept stores; Super store format; Speciality retailers; Corporate Strategies Case Study; Discount retailers; Competition; Acquisitions; Competitive advantage; Customer orientation; Brad Anderson; Service innovation

Contents:

• Best Buy: Inception and Growth through Customer Orientation
• The Latest Rollout: The Segmented Stores