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Market Segmenation

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Submitted By tgannon
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Best Buy has four methods they used to approach the market. They created a plan to gain profits and increase their customer base. By using the four strategic initiatives, they were positive they were going to win the customer over and a purchase would be made prior to leaving the store. The four strategic initiatives are customer centricity, efficient enterprise, win with service and win in entertainment to target customers. In using the customer centricity approach, all of the stores were transformed to be more customer friendly. That was geared by satisfying the needs of the customers. The signs outside of the stores were changed to bold and bright colors that stood out and could be seen for miles. Fixtures and lighting were also changed in the stores to be more energy efficient. Bright and bold colored shirts became a part of the employee’s uniforms and personal shoppers were added to some segments, In this case, the customer could call and make an appointment and a customer assistant would be available to meet their needs during their visit. Efficient enterprise was used by keeping up with the competitors and new technology. By opening additional stores, their customer sales would increase, it would gain the attention of new customers and better service would be offered to existing customers. In the win with service approach, the company offers specialty services to the customers. Say for instance, installation of home theater equipment and home computers service should increase profits and make the customers happy. Happy customers are loyal customers and happy customers are known to refer friends and family. By winning in entertainment, Best Buy will need to hire quality employees that are looking for a place to build a career. Best Buy should always strive to keep their employees as happy as their customers. When a company strives to

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