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"百思买"的市场分析报告

2015-07-18 来源: 51due教员组 类别: Report范文

本文是一篇百思买商家的市场分析报告:百思买是一个最大的跨国消费电子企业。以广义的视角来看,保留行业原本是一个综合性的领域,涉及多个渠道。随着技术交流和网络技术的发展,零售业必然进入网络世界。互联网服务与新世纪的融合将是一个新的新世纪。


A summary report of Bestbuy
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Industry analysis
BestBuy is one of largest multinational consumer electronics corporations locating in Internet service and retaining industry. Take a broad perspective, retaining industry originally is a comprehensive territory that involves multiple channels of distributions to sell products directly to consumers for profit. With the development of evolution of technological communication and Internet skills, retailing industry inevitably entered into Internet world. The combination between Internet service and retaining is a new arena in the new century. 

As Porter defined (2008), industry value chain is one of most valuable tool or approach to disaggregate an industry into several discrete activities. Basically, retailing industry consists of inbound logistics, operation, outbound logistics, marketing and sales and service (ibid). And they have interactive and interdependent relations. One improvement program in supplier stage will affect final sales or one improvement of service will maintain sustainable buyer behavior, which link to final revenue. Such linkages may contribute a healthy competitive advantage, and difficult for its competitors to imitate. 

Further, a strategic framework can shape a perfect value chain, such as five forces. The most critical and competitive threats in retailing industry could be suppliers’ power and buyers’ power. Power of suppliers is relevant with higher cost or low quality that will directly affect final profit (Porter, 2008). Retailers need initially take a deep consideration of cooperating with its suppliers, in order to obtain a proactive opportunity in pricing war. Indeed, pricing is one of most important thing that buyers will concern with. Power of buyer is relevant with the demand of lower price and high quality or greater service (ibid). However, current situation seems to add one more condition, which is convenience.

Competitor analysis
The primary competitors for BestBuy can be Wal-Mart and Target. Both of them stand in the leading place. Wal-Mart’s high volume products with low cost operating strategy are its initial advantage (Wal-Mart, 2013). They allow customers bringing competitor’s ad to the register for receiving a markdown. They spent less cost on advertising. It says that firm with cost advantage will easily absorb suppliers’ cost increasing demand and usually win price wars. However, low cost company will results a lower margin than competitors, and also exposes cost advantages to competitors. It is easy to be imitated. No differentiation is a limitation, and cheap product always emerge quality problems. 

Target has nearly 1800 stores and attractive shopping environment, better quality products and different types of stores (Target, 2010). The advantage of differentiation in Target could successfully differentiate products with others and decrease buyer power, and it creates own specials that company with unique products can ignore price competition (Porter, 2008). For instance, target provides a line called special designer collections. Indeed, it cooperated with top designers in the scope of cloths and furniture, and invites them to design special products series for Target (Target corporation, 2001). However, Target today still has not moved out from US. It is difficult to gain market share. The truth is that high quality will spend company’s cost more than others, therefore, price will be more expensive, and period of purchasing behaviors will be longer.   

Client Analysis
We involve 1347 stores in US and stores mainly located in suburban metropolitan and micro-urban communities (Plastow, 2012). These positions can assist decreasing cost and further decreasing price. Coverage of stores can be our traditional advantage to attract a wide range of consumers. In addition, price and service can be our second advantage. Compare with other electronic retailers, we offer the cheapest price of products and high quality service. In previous year, we created a clear purchasing instruction channel for consumers. We offered service of installation, advice, and Geek Squad also came into play. However, scale and locality can be our weak, our online store face many threats, as the development of online retailers such as Amazon is incredibly fast.
 
Strategic Recommendation
Combination of online and offline platforms is first strategic recommendation in following half year. Firstly, reducing of 2% stores’ footprints in order to decrease cost. Secondly, to promote online store’s sales and small mobile phone stores and ensure online coverage expand double times. Currently, some mature online retailers such as Amazon occupy large number of customers. When people buy small electrical equipment such as CD players and cameras, online sellers will be first choice. However, online sellers have no thorough guarantee and the variety of units is few. Therefore, thirdly, we must ensure sufficient storage of products online. Fourthly, in order to link with online research result, training knowledgeable salespeople once a week and offer “showrooming” everyday is important. People prefer purchasing large equipment on offline stores. Nevertheless, reducing branch stores will lose a large number of loyalties whose house originally locates near the store.

As the US third retail industry, international development is an inevitable trend. The second strategic recommendation is opening foreign market in following one year. It states that any sustainable competitive advantage need consider capability and resources. At this time, we must take PESTAL analysis first to obtain external environmental situation. In 2006, BestBuy entered Chinese market and purchased five stars company, but many obstacles hindered its development. The main problems come from external. Then, using marketing mix to match local consumers’ needs such as product position, pricing and promotion. In other word, an effective analysis can be a competitive method to beat competitors. Additionally, we must cooperate with local institutions. Joint venture is a good attempt. Further, opening local stores, international city will be a good position. Here, we must take localization as first place such as allow joining to decision-making. The cooperation with local company and agency, the utilization of local resource can assist opening foreign market as soon as possible, and previously capture market opportunity, such as Wal-Mart and Ikea. Opening online platform and cooperate with local logistics and bank. However, this could be a long-term plan, therefore we need input much resources. In addition, we will represent as new entrant for existing retailers. They may conduct self-protection actions such as pricing war or sales promotion to attack us. We may survive a high cost and a low profit period. 




Reference:
BestBuy. (2015). BestBuy. Retrieved May 29, 2015, from http://www.bestbuy.com/?intl=nosplash

Plastow, J. (2012) Best Buy Competitive Advantage. Retrieved May 28, 2015, from https://storify.com/jasonplastow/best-buy-competitive-advantage

Target. (2010). Annual Report. Retrieved May 29, 2015, from http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-051711

Target Corporation. (2001). Press Release. Retrieved May 29, 2015, from http://news.target.com/phoenix.zhtml?c=196187&p=irol-newsArticle&ID=805139&highlight=

Target Corporation. (2010). Target Mobile Technology. Retrieved May 29, 2015, from http://pressroom.target.com/pr/news/target-s-mobile-

Porter, M.E. (2008). Competitive advantage: Creating and sustaining superior performance. Simon and Schuster.

MBA Tutorials. (2009). Target Corporation SWOT Analysis. Retrieved May 28, 2015, from: http://www.mba-tutorials.com/marketing/swot-analysis-marketing/280-target-corporation-swot-analysis.html

Walmart. (2013). Walmart Corporate. Retrieved May 28, 2015, from http://corporate.walmart.com/?povid=P1171-C1093.2766-L4




Appendix 1:
Marketing Mix:
 
Adapted from: Duermyer, R. (2015). Marketing Mix. Retrieved May 29, 2015, from http://homebusiness.about.com/od/homebusinessglossar1/g/marketing-mix.htm 


Appendix 2:
Timeline
Strategy 1 2015.6.1-7.1
Close 30 stores and arrange staffs’ works to join in the training 7.2-8.1
Monitor other online retailers and modify company online store, improve small phone cell market 8.2-9.1
Open “Showrooming” everyday and contribute detail instructions 9.2-10.1
Collect feedback from online purchasing and customer service and improve plan 10.2-12.1
Monitor sales situation and online store’s reviews
Strategy 2 2015.6.1-8.1
Prepare market information and PESTAL analysis and Marketing mix analysis 8.2-9.1
Arrange interviews with locals and begin business negotiation 9.2-12.1
Open local stores and employ staffs, invite local manager join to decision-making 12.2-3.1
Online stores creation and optimize company website 3.2-6.1
Monitor and modify 



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