Best Buy Essay

702 Words3 Pages
Bekenov Kuandyk Assignment 1 Exploring business models and competitive strategies of the company «Best buy» As an example, I would try to analyze the strategies and business models of the company «Best buy», which is one of the largest participants in today's US market of consumer electronics. Best Buy Co., Inc. (NASDAQ: BBY), together with its auxiliaries, is one of the main organizations on the planet that acts as a dealer of purchaser gadgets, home-office items, stimulation programming, apparatuses and related administrations in European Union, Canada, Mexico, China and the United States. It controls retail locations and sites 11 years old brands: Best Buy, Five Star Equipment, Future Shop, Geek Squad, Magnolia Audio Video, Carphone Warehouse,…show more content…
Best buy’s shares market with other players such as: Wal-Mart Inc., Target, Ebay, Amazon Inc., Apple and others. Best buy defenses with changing business models, marketing and etc. The Threat of New Entrants. Best Buy is protected from new competitors by exclusive patents from mentioned brands. The Threat of Substitutes. Despite the exclusive rights Best buy for selling mentioned brands, the market offers their analogues - substitute products. In this case, as a consequence of competition, Best buy has to constantly ensure quality product at an attractive price. The Bargaining Power of Buyers. Best buy has huge amount of buyers all over the country and the world. As above said, in case of existing substitutes, buyers would affect the company. Best buy has to increase quality of customer services, retail stores and decrease prices. The Bargaining Power of Suppliers. Best buy would be affected by suppliers. If they have unique product or
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