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Best Buy Situation Analysis
Robert Ochs
MKTG 300
Duncan McCampbell
10/07/14
Company Overview
Best Buy Inc. is a United States based mul&na&onal organiza&on that operates as a consumer
electronics retail store. It was founded in Richfield Minnesota in 1966 originally under the name Sound
of Music Inc. The name was changed in 1986 in order to focus on consumer electronics. Best buy
conducts business ac&vi&es in retail stores, online, and call centers. It has 1,968 stores worldwide
located in the United States, Canada, China, Puerto Rico, and Mexico. In general, the company specializes
in selling electronics, home o3ce products, entertainment products and so4ware, business programs
and so4ware, home appliances, and much more technology related products.
Best Buy has earned the reputa&on as one of the top consumer electronics retailers and a leader
in the industry. Its total revenues are $42,410,000,000, it employs 140,000 workers, and has a market
capitaliza&on of 11.26 billion. The company is a publicly traded corpora&on on the New York stock
exchange under the signal- BBY. It has gained many product and service brands that are recognized
worldwide, such as Geek Squad, an in house repair service, which has been one of the company’s main
compe&&ve advantages throughout its existence. “The primary target market customer is in the 16-35
age range, with 18-24 being the primary target because on average 40% are in college. Primary targets
