Response to “Best Buy, One Bold Move”

After reading Vanessa Lau’s blog, I was immediately intrigued with her article about Best buy, “Best Buy’s One Bold Move”. Earlier in the year, I blogged about Best Buys struggles in the electronic retail industry and their declining market share.  Online retailers such as Amazon.com started to have more appeal to consumers and companies such as Walmart were able to sell products for cheaper. One of the key points I noted in my blog was that it was essential for Best Buy to come up with a points of difference to distinguish themselves from their competition. At the time, there main strategy to counteract their competition was to price match. I was not too sure whether getting into price wars with companies such as Walmart was a smart idea. However, after reading Vanessa’s blog, I see that Best Buy has taken a different approach. They are now focusing on selling relatively unknown brands to consumers who cannot afford to buy the reputable brand products. If Best Buy can market these new brands as a product that is just as capable as the powerhouses in the electronic retail industry, they may be able to distinguish themselves apart from the competition and delve into a separate segment in the market. 

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