Reference no: EM132187142
Determine the retail marketing strategy for Best Buy answering the following questions:
a. Who is the retailer’s target audience? (Describe the audience demographically and psychographically, if possible) How does this compare to the competition?
b. What image does the retailer want to convey? How does it compare to its current image in the industry and in the minds of consumers? How does it compater with competitiors’ images?
c. How has technology affected the way the retailer conducts business? How does it make use of the Wed, e-commerce, supply hain management, information systems, and so on?
d. What is the retailer’s global presence and strategy and why?
e. What is the retailers location strategy and why?
f. Describe their merchandising strategy: how they buy, what they buy, breadth vs. depth of merchandise, and so on. How is it reflected in their financial strategy?
g. What is the retailer’s pricing strategy, and how does this affect profitability
h. What is the retailer’s approach to advertising and sales promotions? Has it been effective?
i. What challenges does your retailer facie in terms of retail strategy variable just described? Do some appear to be working better than others?
Please provide sources for APA citations
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