Best Buy The Effects of Macro and Micro-Environments - 2200 Words

Best Buy: The Effects of Macro and Micro-Environments (Essay Sample) Content: Best BuyName of Student:Name of Institution: Best Buy Executive SummaryBest Buy is among the largest consumer electronics retailers in the United States, covering up to 19% of its market. The company has 4,000 stores worldwide, including such countries as the USA, Canada, Mexico, Turkey, and China. It deals with the production of cellular phones, TV sets, computers, home appliances, cameras, office machines, and audio gadgets. Best Buy won the Company of the Year Award in 2004 for its major operations both internally and externally. The company remained successful and was able to excel its competitors by formulating effective strategies. For instances, Best Buy neglected the low price policy and chose to use differentiation instead. It expanded the assortment of products and started providing services for the same range of goods. The strategy was implemented by terminating the compensation schemes for sales associates and introducing a model that focused on customer-c entric operating in order to provide...