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Business Strategy Paper Best Buy

In: Business and Management

Submitted By johannesburger
Words 3877
Pages 16
Key Issues 1. Distribution
When best buy enters the Australian Market, the location and size of their stores will be critical to their success. This is how they will access their target market. It is also critical that Best Buy implements a strong supply chain and inventory control system. The Distribution is just as important from the manufacturer to the retail location, as is the retail location to the consumer distribution channel. 2. Implementing an online store as a substitute to their retail locations 3. Store Design
The design and layout of the store will be a description of the Best Buy Brand. As this brand is new to the Australian market, the design of the store will be the most effective marketing tool that Best Buy has at their disposal. 4. Creating strategic alliances
As it is a new business to Australia, the choice of whom, the business aligns themselves with, will determine how the Australian consumer perceives them.
Target Market
The target market strategy that is being recommended for Best Buy to use when entering the Australian market place is a broad-spectrum target market. The target market can be described as singles and families aged between 20 and 55 years old. They are the middle-class, living primarily in urban areas. This group is moderately technologically savvy and they want specialized electrical product knowledge and service at a competitive price. They also want a wide range of products all in one location.

This group’s path to purchase is primarily affected by convenience, service and price. They want an enjoyable shopping experience. Due to their savvy nature, they will find a perceived better deal if there is one available.

This group has been selected as the target market for Best Buy Australia as it is believed that their size and spending power will position the company well to grow into the future. This...

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