The current distribution strategy of Best Buy was developed in 2012 after the appointment of the new C.E.O, Hubert Joly. The brand, “Renew Blue,” came about after the new C.E.O gave out a five-point manifesto. The firm adopted the “Omni channel” retailing distribution strategy so that it could fully penetrate into the market. The new strategy focuses on the way products and services of the firm will reach the consumers. The “Omni channel” strategy ensures the products find the consumer wherever they are. It ensures that the consumers are in a position to access the products offered through online services, in retail stores or via phones. The firm ensures that the distribution strategy applies advanced technologies that will create a competitive edge over rival companies and transform the physical stores. The problem with “Omni channel” is that consumers only wanted to transact the item online but preferred to pick it from the retail stores. The firm was then forced to introduce a “Store Pickup” button to all its online shop to satisfy the demands and needs of the customer.
In my opinion, I think that Best Buy should strengthen the “Omni channel” strategy because of the potential that it has portrayed. The firm needs to adopt a friendlier website to transact the business online to attract a larger customer base. There is also need to ensure that the retail stores contain the same products delivered online to avoid losing clients to the competitors. The company must trim the supply chain operations to reduce redundancy and duplication of efforts when distributing products in the retail stores. The company can also decide to transform the retail stores to distribution centers due to the demand of customers to pick the products by themselves.
As a staff member of the Best Buy Company, I will focus on online marketing, advertising and sales promotion as marketing strategies. In my view, I think that the strategies will be effective to create awareness on the products offered to the target market. Online marketing will be the most powerful marketing tool since most of the younger generation are aware of online services and have computer gadgets that enable them to check on the products offered.
Best Buy uses the internet as its current advertising strategy and stresses on the importance of online marketing. The internet and web services continue to evolve and advance creating an avenue for successful online advertisement. The Best Buy Company has ensured that it is in the frontline to evolve with the technological advancements by placing its brand online and even adding a pick button in online shopping. Online marketing will supports the implementation of the “Omni channel” strategy. I will ensure that online marketing is also enabled in social networking sites including of Facebook and twitter.
Since the media is using the internet media, I will propose that it also implement advertisement through sports and events. Best Buy can sponsor the Super Bowl event since it has many viewers. The advertisements that are brought by during the game should include creative ads that will grab the attention of viewers. The company must ensure it creates emotional ads that will make the viewer’s feel be part of the process and this will create an attachment to the products offered by the company. I will encourage the execution of testimonials that will persuade the public to purchase the products of Best Buy.
Good Example Of Marketing Plan Essay
Type of paper: Essay
Topic: Business, Internet, Marketing, Company, Strategy, Shopping, Products, Best Buy
Pages: 2
Words: 600
Published: 2020/03/01
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