Best Buy And Wal
Best Buy and Wal-Mart is no need to gain the life and death, as long as they follow their own specific strategies, focus on service and price, can also market a firm foothold, harmony.
With the electronic retailer “Circuit City” (CircuitCity) left the market,
Best Buy And Wal-Mart is working to compete for the consumer electronics market, new market share. As the nation’s largest specialty electronics retailer, Best Buy flagship high-quality
Service And marketing assistance for those who are often high-tech products hangs consumers to help. Best Buy to focus on high-end products and new types of interactive functions to distinguish them from Wal-Mart store’s style.
As the world’s largest retailer, Wal-Mart in all retail categories in the global market dominant; Therefore, Wal-Mart positions itself in the consumer electronics products, low-cost suppliers, and with chain mechanism to cover huge consumer groups. Each year more than 800 million people to patronize Wal-Mart, shopping content from groceries, sports trousers to gasoline, the aide said. Now, Wal-Mart stores began to electronic product sales as a key sales include the big screen
TV Machines and Apple iPod players, which is considered to Best Buy to declare war competition means.
But Wharton faculty and industry analysts believe that Best Buy and Wal-Mart is no need to gain the life and death, as long as they follow their clear strategy, focused on service and price, can also in the market stand stable footing, harmony. Wharton marketing professor Zhang (JohnZhang) said: “Consumer electronics market is huge, so businesses there is no enemy save my dead relations. They are fully available in the market to find a place to achieve common development.”
According to Professor Zhang Zhong and Wharton several other professors in the forecast, in March, “Circuit City” complete liquidation, Best Buy may be the most sales. “Circuit City” is based in Virginia state capital Richmond, opening reached 60 years. At its peak, had a record 700 outlets and about 10 billion U.S. dollars of sales records. However, facing a recession, the situation, as well as Best Buy, Wal-Mart and other competitors surrounded, the “Circuit City” final gloomy ending.
According to NPD market research reports, Best Buy in the U.S. has 900 shops, is the largest U.S. electronics seller. In March this year, Best Buy announced that its total sales to 45 billion U.S. dollars, so strong sales performance is really shocking. Wal-Mart’s sales total more than 400 billion U.S. dollars, but it did not announce the product category specific figures. According to NPD is expected in the consumer electronics area, Wal-Mart is second only to Best Buy’s second-largest seller, the third to five were Dell, Circuit City and Apple.
Wharton marketing professor David? Rubinstein (DavidReibstein) believe that Best Buy’s decisive key is to provide customers a knowledge-based services. Best Buy has a young, proficient in electronics sales team, wearing a bright blue shirt. We can imagine that, when the customer should buy
LCD TV Or Plasma TV The hesitant, we will certainly think so: “in the end is to Wal-Mart or Best Buy? Or go to Best Buy it, because the Best Buy clerk can give me some advice.”
Rubinstein professor pointed out that some customers may hold a certain amount of product knowledge, so they self-confidence can go to Wal-Mart to buy open shelf products. But there are also customers rarely buy electronics, they think to buy electrical appliances not only expensive but also risky. Rubinstein professor said: “For this population, the key is to choose the right products. Best Buy become their natural choice.” Best Buy strategy Another key element is responsible for customer installation of electronic systems. “Some customers of electronic products, the risk of lingering fear, they are valued Best Buy team of professionals and their extensive expertise.”
Wharton marketing professor gomo Chinese? Raju (JagmohanS.Raju) pointed out that Best Buy’s warranty also so many customers feel at ease. While with the product breakdown of actual risk than consumers pay warranty costs in fact high point. Customers usually buy electronics warranty, because they product failure was impressed, but not aware of products in most of the time able to operate normally. La Professor Zhu said, adding that e-tailers can from warranty sales were huge profits, so almost every clerk was asked to hard to sell warranty.
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