SWOT Analysis for Best Buy - Jordan McCormick's E

SWOT Analysis
Best Buy
Arsen Drljo, Jordan McCormick, Jason Ramirez
 They have large name brand recognition.
 They have employees specifically trained for certain
products to inform the customers. For example, they
have Microsoft specialists and Geek Squad.
 Easily accessible location, and it can be seen from the
 They are open pretty much all day, especially during
the holidays which gives them an advantage.
 They are in a growing market so there is constant
product flowing and money to be made.
 Best Buy does not always have their products in-store,
because they warehouse most of their products, so
customers sometimes have to wait for their items.
 Because they sell expensive electronics it makes the
return policies very strict and makes customers
 Best Buy has to constantly have the most updated
products, even if it means discounting old product just
to get it out of the store. New trends and changing
technology makes inventory a little tricky.
 Best Buy does not always have people out on their
sales floor which may cause unhappy customers and
loss of a sale.
 There are no best buy stores in southern half of Utah,
so they have no presence down there.
 There is always new upcoming technology to offer
 They could expand their locations to more parts of
Utah. They could possibly even go international,
because they only have stores in the states and
 Get involved with the community to promote their name
in a good sense. Can even set up sponsorship with the
Utah Jazz, or REAL soccer team.
 They can offer programs for tuition reimbursement for
college students working at Best Buy, which would
attract young, smart, hip kids that understand what’s
popular and that have positive attitudes to come work
 Now that other electronic based companies like Circuit
City and Radio Shack have if not died out, have
become a lot less popular, that being said, Best Buy
can act and make themselves the number one
electronic store.
 The upcoming of new technology such as buying movies
and video games online gets rid of the chance of people
coming down to Best Buy to purchase what they are in
search for.
 They have very large competitors that sell what they sell, but
also have a wider range of products that makes it a one stop
shop, rather than just electronics.
 They rely so much on selling brand name products that if
one of those large companies were to screw up, it can make
an impact on their products, and Best Buy could potentially
lose money.
 The possibility of losing customer loyalty due to the
internet and competitors promotions and their capability
of allowing customers to find lower prices than Best
Buy can afford to offer.
 They offer a lot of products for leisure activity so if the
economy is not doing well, then people aren’t going to
be shopping for TVs and DVD players.
 They can try to open up more stores. Not only in
southern Utah, but other states as well and can even
try to make their company go international eventually.
 They can become involved with a sports team
organization such as The Jazz basketball team or the
REAL soccer team to further promotion and publicity.