China may be the world’s biggest- and fastest-growing consumer market, but a handful of overseas retailers have continued to struggle in the market. However , February 22nd 2011 , U.S. electronics firm Best Buy shuttered all nine of its branded stores in China after five years in the market .
What makes Best buy failed in China ?
After reading the Class 5 prep. I found that the Fishbone Diagram can finely analyzes the cause and effects for Best Buy’s failure. So I made the following Fishbone Diagram myself to give everyone a clear view.
After analyzed all these information, I feel that before each company enters a new country or new business area, the company has to concern a lot especially the local customer’s taste and preference. A good business pattern can work very well in for example US but not in asian countries.
Resources:
Sharma, Rakesh. “Why Best Buy Failed in China (BBY,AAPL,HD).” Investopedia. N.p., 23 July 2015. Web. 26 Sept. 2015.
