Footprin Best Buy's Dual-Brand Strategy

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Many times organizations can visualize the strength of their business, but they do not have the foundation to take their brand to the next level. There are also situations where highly structured organizations are looking to expand their business in a market to increase market share and market presence. Companies will use a concept called dual-brand strategy to increase their competitive advantage. A dual-brand strategy is the combination of two different brands by the same firm with each contributing its own specific meaning to the brand architecture, saturating the market by filling all price and quality gaps (Kumar, 2012). If done correctly a dual-brand strategy can create a strong partnership for companies, allowing them to increase their…show more content…
Using this concept would allow them to move into those markets, working with businesses that had already established their own customer relations. This process would keep Best Buy from having to develop relationships and gain trust in areas where they were not established. Essentially they were using their strength they had already built in the US and teaming up with a company that was already established in that region. This strategy was very successful when Best Buy teamed up with a Canadian business called Future Shop in 2003. After the acquisition of the business, Best Buy reported second-quarter sales of $480 million from its international segment, which includes the Future Shop and Best Buy stores in Canada -- a 44 percent gain compared with the same period a year ago before that acquisition (Ridder, 2003). Using Canada as their template for moving into International markets allowed them to gather momentum to begin looking further into those markets, increasing their competitive

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