Question
Retailing has changed dramatically in the last 15 years. What was once seen as a niche business to buy books online (Amazon) has emerged as
Retailing has changed dramatically in the last 15 years. What was once seen as a niche business to buy books online (Amazon) has emerged as one of the world's largest businesses that provides products across to consumers across most industries. Delivery and ordering has advanced to embrace 'voice' ordering (Alexa), automatic ordering from sensor chips, and drone delivery to one's home. Your assignment this week is to investigate Best Buy. This assignment is limited to three pages without cites.
Best Buy has long complained that consumers will come to their physical locations and "shop" and then order the desired product online. This may be from Best Buy or another alternative retailer. Best Buy's challenge is to draw business into the local stores and then provide a holistic experience that encourages consumers to form relationships with trained technicians and salespeople, enables the sampling of products in the consideration set, and the trial of additional add-ons such as sound systems, home security, and long-term Geek Squad technical support. The physical retail establishment will become a 'customer showroom' to spotlight products, demonstrate a commitment to service, and immerse the consumer in the product and service benefits.
Your assignment is to develop a three-stage plan to:
- Develop a new brand positioning strategy for Best Buy. What is the new enhanced brand and brick-and-mortar location providing consumers? What is the retail store experience going to resemble?
- Identify tangible features to add and promote that will assist in differentiating Best Buy from online and physical retail competitors and, more importantly, aid in drawing consumers into the established physical retail establishments for an immersive experience.
- Identify HR objectives and strategies to select, hire, and retain personnel that can assist in building this vision at the local and corporate levels. What skills, education, and personality traits will Best Buy be seeking? How will this approach enhance brand development?
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