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Busi 400 - Alternative Strategies

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Alternative Strategies
Digitial Servicing
An alternative strategy that can be utilized is a digital servicing component. Best Buy has built a reputable presence as leaders in computer repair and servicing. With that presence a digital servicing option should be implemented where customers can connect with servicing professionals through mobile applications or video correspondence.
Pros: Digital servicing will strengthen the relationship with consumers and build a loyal customer base. Digital servicing would open up the opportunity to service consumers who may not conveniently reside near a retail location; therefore the customer base would increase which enables growth in servicing revenue.
Cons: Digital servicing would create a need to increase staffing and technical professionals; which would increase operating expenses.
Product Leasing
An additional alternative strategy would be offering products through a leasing program. This leasing program would enable Best Buy to offer products for customers to pay monthly leasing fees instead of purchasing outright. This program opens the door to a customer base who may not be able to purchase products outright or may not have access to credit purchasing.
Pros: Ability to increase revenue and maintain ownership of the products. Ability to earn ancillary income through the sale of protection plans to cover any damages to products. Ability to sell used products at discounted prices and maximize overall revenue per product.
Cons: Increased risks of damages to the products prohibiting continued leasing. Increased risks of customers who skip with product without making payments.
Product Training Classes
Best Buy has become a trusted resource when it comes to being knowledgeable about products. An additional strategy would be to host classes in retail locations that is open to the community and provides training and

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