Marketing Essays Starbucks Coffee

Marketing Essays Starbucks Coffee Starbucks Coffee Starbucks Coffee company is headquartered in Seattle, Washington. It began in 1971 with just one retail store at Seattles historic Pike Place Market. Now it has become the leading brand and retailer in the world. Starbucks went public on June 26, 1992. The main aim of Starbucks is to become the leading brand and retailer of finest coffee in each of its target markets nationally and internationally by selling the best quality coffee and related products, and by providing high class customer service. Starbucks purchases and roasts a high quality whole bean coffees to sell them with fresh, rich-brewed espresso beverages, different varieties of pastries and coffee related accessories and equipments (www.starbucks.com). Moreover Starbucks also sells coffee and tea products strategically through other channels such as supermarkets and non traditional retail channels such as United Airlines, Marriott International, Barnes Noble bookstores and Department stores. More than quality coffee, Starbucks features a variety of hand-crafted beverages, pastries and in some markets, a selection of sandwiches and salads. Starbucks merchandise includes exclusive espresso machines and coffee brewers, unique confections and other items related to coffee and tea. Some of the Starbucks products are as follows; Beverages: Brewed coffees, Italian-style espresso, cold blended beverages, roasted whole bean coffees, tea products, fruit juice, sodas, and coffee liqueur. Food: Sandwich, Salads, pastries and ice creams Non food items: Mugs, Travel tumblers, coffeemakers, coffee grinders, storage containers, compact discs, games, seasonal novelty items, Starbucks card, media bar. Starbuckss main mission is to be a global company. In order to achieve this it needs, the development strategy that Starbucks implemented to adapt with variety market and local need are: joint ventures, licenses and company owned operation. The total number of Starbucks stores are 15,011 which are operated and 3,891 are licensed operation in US which are spread out in 50 states. For the international location, Starbucks’ store can be found in 44 countries outside of the United States and 1,049 stores are company owned operated in Australia, Canada, China, Germany, Singapore, Thailand and the U.K. and 6,506 are joint ventures and licensed operation. Internationally Starbucks opened their stores in the following countries; Starbucks open in Tokyo, Japan. Nowadays, there are more than 700 retails shops in Japan. Furthermore, Starbucks also open in Hawaii and Singapore. Starbucks open in Philippines Starbucks open in U.K., Taiwan, Thailand, New Zealand and Malaysia. Starbucks open in Beijing, Kuwait, South Korea and Lebanon. Starbucks open in United Arab Emirates, Shanghai, Australia, Qatar, Saudi Arabia and Bahrain. Starbucks open in Switzerland and Austria. Starbucks open in Oman, Germany, Spain, Mexico, Puerto Rico, Southern China, Macao and Shenzhen, Greece and Indonesia. Starbucks open in Turkey, Peru, Chile and Cyprus. Expansion to France The latest expansion in Jordan 5 Ps for Starbucks Coffee Company Starbucks is not just a good cup of fresh coffee, but a better quality product, excellent customer service and better understanding of coffee culture. Starbucks has so far achieved unpredictable achievements in coffee chain industry. Now we will go through the strategies of 5 Ps, price, product, place, promotion and people. Price: The Starbucks prices continuously matches with its competitors competitively represents Starbucks an attractive combination of features, high quality, excellent service and other attractive attributes. Product: Starbucks is known very well in the market due to its high quality coffee, care in selection and expertise in roast. It purchases coffees that have been grown and processed which meets strict environmental, economical, social and quality standards, which is suitable appropriate for the market and the customers. Starbucks establishes its longer lasting and more profitable competitive advantages by broadly differentiating its coffee and coffee related products depending upon its competence and innovation. Place: The decisions of Starbucks about where to site its stores depends on reaching its potential customers and providing better service to its existing customers. Its stores are typically clustered in high-traffic, high visibility locations. When it opens a new store near an established Starbucks, it is generally intended to relieve long customer lines and improve service. It takes more than just location to be successful. Attracting customers to Starbucks happens by providing high-quality coffee as well as creating inviting, comfortable places located in convenient location. The store expansion strategy for Starbucks is by entering new markets wherever the opportunity exists to become the leading specialty coffee retailer. Its current location totals 8,505 worldwide by the year 2007. Promotion: There is not much conventional advertising because Starbucks found that there is too much competition for consumers attention in TV, radio and print media. Starbucks usually picks one or two charities or events that reach the community it serves. This will inspire people inside and outside the company and reinforce the companys value and image. For instance, after September 11, stores in New York, Washington D.C and Pennsylvania brewed coffee free of cost for relief workers. People: One of the strategy of Starbucks is to believe that the Company is in the people development business as well as in the coffee business. As stated in its mission Provide a great work environment and treat each other with respect and dignity, Starbucks realizes that one of the most important resources contributing to success is their employees or partners as referred by the Company. Starbucks is attempting to imbed its values in the Company culture. They use these values to give employees a sense of meaning to their work even if it is just pouring a cup of coffee. The coffee chain provides medical, dental and vision coverage to all employees, even including part-timers. The part- time partners are also eligible for the companys stock program. The purpose is to instill in its partners a sense of purpose, commitment, loyalty and enthusiasm. Expectedly, what Starbucks benefits are the reduced recruiting and training costs. Get help with your essay from our expert essay writers ‘PESTLE’ Analysis for Starbucks Coffee Company Political: High taxation imposed on farmers in those countries producing the coffee bean will usually mean Starbucks pay a higher price for the coffee they purchase. Any fluctuations in taxation levels in the industry are almost certainly ultimately passed on to the consumer. Trade issues will affect Starbucks predominantly when exporting and importing goods. When another country’s government imposes a tariff it not only results in an efficiency loss for Starbucks but large income transfers can become inconsistent with equity. This extra charge can turn a bargain into a rip-off. Also, since 9/11, trade relations have been adversely affected between the USA and some other countries. Starbucks should thoroughly investigate the political stability of any country they plan to expand to. Changes in government can lead to changes in taxation and legislation. The American elections may have an effect on Starbucks as new legislation or new or existing government may bring in taxes. Also, those countries in political turmoil or civil war (e.g. Zimbabwe at present) should be approached with great caution when considering new ventures. The international economy must be brought into consideration as it can affect Starbucks’ sales and markets. The aftermath of 9/11 was an example of an economic downturn that affected the world market. A reduction in licensing and permit costs in those countries producing the coffee bean for Starbucks would lower production costs for farmers. This saving would in turn be passed on to the purchaser. Economic: A rise in interest rates means investment and expansion plans are put off resulting in falling sales for Starbucks and their suppliers. Also mortgage repayments rise so consumers have less disposable income to spend on luxury products such as coffee. Low interest rates will have the opposite effect of it. If growth is low in the nation of location of Starbucks then sales may also fall. Consumer incomes tend to fall in periods of negative growth leaving less disposable income. Consumer confidence in products can also fall if the economic situation is bad. Competitive pricing from competitors can start a price war for Starbucks that can drive down profits and profit margins as they attempt to increase, or at least maintain, their share of the market. Globalisation of the coffee market has meant farmers of the bean now earn less money than they used to. This can result in a decrease of people willing to do it for a living, which will mean a decrease in coffee produced, resulting in a drop in Starbucks supply levels and probably profits. Starbucks are affected by exchange rates when dealing with international trade. If the value of the currency falls in the country of a coffee supplier this enables Starbucks to get more for their $ or  £ when importing the goods to their country. This saving can be passed along to the customer. Exchange rates are forever changing throughout the world in today’s market. Social: Where income is distributed is another factor that Starbucks should look at as this also demonstrates the ideal place to aim their marketing or to locate their stores. Coffee is more of a luxury product so it is those people/places with the most amount of disposable income to spend that should be targeted the most intensely. Starbucks would not want to locate to an area where the local population have a poor attitude to work. Recruitment would be difficult, training arduous, and staff turnover would be high. Attitudes to work are important in other ways. Transport needs to the premises must be considered for both staff and customers. Easy access is vital to ensure there is no excuse for staff to arrive late or for customers not to visit. Research shows the average age of the population is getting older and birth rates are stagnating. Starbucks is presently aiming it’s product at young people but maybe these views will change in the long-term as the market proportion for young people diminishes. The most profitable way forward may be to widen their target market despite the risk of alienating present customers. Technological: Developments in the technology of coffee making machines and the computers that Starbucks use to run their cash registers will enable their staff to work more quickly and efficiently. This will result in customers being served quicker and create the potential to serve more customers in a day. In the short-term, Starbucks must identify the most efficient software upgrades to use to keep up with the competition. This applies to the improving the accessibility of their website (www.starbucks.com) and also improving the speed and quality of the service provided on the shop floor. As a multi-national business empire, Starbucks has the budget and the resources to have a cutting-edge RD department. The website is very accessible, the facilities are state of the art but more importantly new ideas are consistently being tried in terms of a constantly updating menu. The rate of technological change in the current world market is high, much higher than, say, thirty years ago. Much of this is down to the Internet and the speed with which information can be communicated around the globe. Starbucks will need to invest heavily just to stand still in their ever expanding and developing market, and even more so to try to stay ahead of competitors. Legal: Starbucks need to be aware of the trade laws in the various countries they occupy and do business with. They need to ensure they are not in violation of e.g., religious laws. Also, certain countries impose a tariff that has to be paid when goods are imported/exported so this must be taken into account. Each country has varying employment laws. Some may have a Sabbath day, some may have a limit on the number of hours an employee may work per week, and all will have varying levels of minimum wage. Starbucks should consider these factors when deciding on relocation. Starbucks may have to abide by local planning regulations when building shops or altering purchased sites, as certain areas of land may be protected or unsuitable. All matters would be addressed by the local government. Environmental: Starbucks customers create a lot of waste as they often leave the shop with their cup of coffee and then dispose of it in the street. The packaging for this cup must be carefully considered to make it as biologically degradable as possible. Certain other materials can be very harmful to the natural environment. Planning permission may not be granted if Starbucks wish to build in an area that could be harmful to the environment. The land may be protected. Starbucks need to carefully consider the methods in which they dispose of their waste as there are strict laws in most countries to ensure a firm trading in their country disposes of the waste that is created in their business in a specific and efficient way. Starbucks should be aware of the physical and influential power of groups such as Greenpeace and Friends of the Earth. Find out how our expert essay writers can help you with your work ‘SWOT’ Analysis for Starbucks Coffee Company Strength: Strong brand name and image The reputation of brand name and image of Starbucks allow brand recognition and consumer retention. Therefore, the expanding of stores to other countries is more proficient and easier. Healthy financial performance The financial performance of company has positive aspects. The revenues of Starbucks in 2007 were $9.411 billion, growing at about 30 percent. The exponential growth in revenue and profit creates the strong financial statement and reliability to shareholders. High-skilled management team Starbucks has highly skilled and professional Chief executive officers (CEOs), for example, Howard Schultz, Orin Smith and Howard Behar. These lead to the rapid and stable growth of Starbucks. High technology Starbucks brings the technology to use in the stores in order to attract more customers. For instance, there are high-speed internet, website and prepaid Starbucks card. It might be increase traffic in the stores particularly in new generation group. High quality and innovation of products Starbucks uses high quality of coffee beans and dairy goods. Furthermore, new products are usually introduced by Starbucks including coffee and beverage line. Both of them enable Starbucks to be able to maintain level of sales and keep competitors out. Weakness: High price Starbucks has increased the price due to rising cost of production, including cost of dairy goods and cost of rent. The increase of price might have an effect on the falling of sales and customer retention directly Clusters of store Because Starbucks has a lot of stores and also these are located in closed areas, it leads to the scramble of customers in each store. Clusters of store might cause inefficient performance of the company. Opportunities: Large consumer group China has the biggest world’s population. Coffee drinking is more popular among young generation, especially those who have overseas education, which influences the coffee consumption. Many of these teenagers have lived in western countries for a long time and they have familiar with the coffee culture. When returning to China they have carried on living in this fashion. Chinese teenagers also like to choose western style coffee shops as their favorite place. Lifestyle Modern lifestyle of Chinese teenagers and adults supports the proliferation of western coffee shops. Meeting and discussing business in a warm and nicely designed coffee shop have become more popular in China. Consequently, the teahouse’s domination has been challenged by the foreign coffee house. Threats: Competitors The global coffee market is a very competitive sector. Starbucks is facing the increase of competitions from other foreign players. The latest Starbucks’ competitor is Canadian chain Blenz Coffee, which plans to open a string of cafà © in China where consumers can smoke, while Starbucks is non smoke stores. Intellectual-property violation Starbucks filed a lawsuit for trademark infringement against Shanghai Xingbake which signs, logos and names similar to Starbucks. It would seem that chances of consumer confusion are high. Porters Five Forces Analysis Porter’s five forces analysis is an important tool for analyzing an organizations industry structure in strategic processes. It helps the marketer to contrast a competitive environment. It tends to focus on the single, stand alone, business or SBU (Strategic Business Unit) rather than a single product or range of products. Porter has identified five competitive forces that shape every industry and every market. These are: The threat of entry, The power of buyers, The power of suppliers, The threat of substitutes and Competitive rivalry. The threat of entry: The threat of entry covers: Economies of scale, The high or low cost of entry, Ease of access to distribution channels, Cost advantages not related to the size of the company, Whether competitors will retaliate? Government action and How important differentiation is. There will always be a continuous pressure for Starbucks to react and adjust to these new entrants. The easier it is for new entrants to enter the market the more competition there is within the market. Although this really should not pose too much of a problem for Starbucks as they have a very large share of the market that will be relatively immune to the threat of new entrants. Starbucks is a company that have years of experience in roasting specialised coffee, if a company was to enter the coffee industry it would be extremely difficult for them to offer the same quality of coffee at a competitive price. As a company’s volume increases, so does its experience and knowledge which tends to decrease the cost of their products The power of buyers: Buyer power is likely to be high if a number of conditions are in place. There is a concentration of buyers, particularly if the volumes of purchases of the buyers are high, the supplying industry comprises a large number of small operators, there are alternative sources of supply, the component or material cost is a high percentage of total cost, the cost of switching a supplier is low or involves little risk, there is a threat of backward integration by the buyer. This is high where there a few, large players in a market If there are a large number of undifferentiated, small suppliers The cost of switching between suppliers is low for Starbucks. The power of suppliers: If the market is dominated by few large suppliers rather than numerous fragmented sources, a suppliers bargaining power is likely to be high. Although suppliers do have certain amounts of power, it is limited. With Starbucks being ‘the most famous specialty coffee shop chain in the world’ and still expanding they should still be requiring coffee beans for some time. It is safe to say that the Suppliers need Starbucks, just as much, if not more so than Starbucks need their supplies. Fortunately for Starbucks they buy their coffee beans directly from producing countries: Latin America (50%), Pacific Rim (35%) and East Africa (15%). The threat of substitutes: This occurs where there is product-for-product substitution, where there is a substitution of need e.g. a bald head reduces the need for hair gel, where there is generic substitution and finally the attitude ‘we could always do without. An example for Starbucks would be if an alternative to coffee was offered e.g. a customer switching from coffee to tea. Competitive rivalary: Numerous factors contribute to intense rivalry between existing competitors in an industry. This is most likely to be high where entry is likely; there is the threat of substitute products, and suppliers and buyers in the market attempt to control. This is why it is found in the centre of the diagram. The extent to which competitors are in balance, this is where competitors are of an equal size which creates intense competition as one of the competitors tries to gain dominance over the other, high fixed costs in an industry may result in price wars, differentiation is important as in a commodity market where products or services are undifferentiated there is little to stop customers switching between competitors. Starbucks do not really have any competitive rivals that are of similar size to them so there are not any rivals in the market that would be considered in balance with them. However, they must maintain their excellent standards and always be on the lookout for new innovation s in order to stay as the market leader. Competitor Analysis Competition is steadily growing against Starbucks each year as the industry grows. Competitors look to gain an advantage by price cuts, launching a rival product, aggressive expansion of production to increase market share or inclusion of significant modifications to a product that other competitors must also undertake to keep up. The following are the current figures showing the market share of companies in the coffee industry. 35% Starbucks 20% Local Coffee Outlets 14% Internet Cyber Cafes 13% Caffe Nero 10% Costa Coffee 8% Coffee Republic Culture Model The culture of an organisation is the set of values that helps its stakeholders understand what the organisation stands for, how it does things and what it considers important. Under culture model, we are going to explain the communication and decision making of Starbucks. The Organisation its environment (Source: Davidson, 2002 pg. 73 Figure 3.1 In the diagram (above), owner created the company objective for Starbucks and the boarder of directors is going to lead company to achieve that company objective. Therefore, the boarder of directors has to choose the suitable organisation culture environment for Starbucks in order to achieve the company objective. The Value System The value system is the inter-organisational links that are vital in the creation of the product or service of a company. It follows the production of the service/product from raw material stage right through to the customer purchase. Each instruction for the development of the product is detailed and explained at each stage of the value system. The ‘firm value chain’ is the most important to a manager because that is their company, however, a good manager will understand the whole process and how to manage each individual link and relationship to maximise customer value. Managers should also need to learn the whole value system because most of the cost and value creation occurs in the supply and distribution chains. For Starbucks, the ‘supplier value chain’ deals with where they get the coffee beans from that they use to create their end product – a cup of coffee. Starbucks buy all their beans direct from the farmers in the producing countries cutting out any middle-man therefore keeping prices to a minimum. The countries that supply them can be found in Latin America, East Africa and on the Pacific Rim. Starbucks fully appreciate the need to oversee all aspects of the value system and we can see an example of this in their determination to obtain the highly sought Narino Supremo crop in 1992. This acquisition ensured some of the highest quality coffee supplies in the world would be reaped by Starbucks. The company has close relationships with their coffee exporters. They maintain this by working directly with them and training them. A good relationship here is essential and needs to be maintained. The ‘firm’s value chain’ consists of: The Firm’s infrastructure; which is about the ways in which Starbucks want their organisation to run and how it is best to implement systems of planning, finance, quality control and information management, it is also where they have made the decision to make high quality coffee from the best coffee beans as this is involved with the quality control. Human Resource Management; It is concerned with the activities involved in recruiting, managing, training, developing and rewarding people within the organisation. For Starbucks this is where they have made decisions about the fact that all employees are equal, even those on the shop-floor that are working over 20 hours a week receive bonuses like free coffee and health care coverage, this was to make sure that the members of staff felt as if they were valued by the company and would continue to provide a good service. Another implemented scheme is for all Starbucks store staff to have a comprehensive 24 hour training scheme before they were allowed on to work directly with customers. Technology development; Starbucks has a large number of areas where it uses technology from regulating their stock levels to the cash registers. There is also technology to enable customers can to order their coffee over the internet and then pick it up from the store when they get there. Some stores now also contain computers where customers can access the internet. Procurement; this refers to the processes for acquiring the various resource inputs to the primary activities. For instance, the method of obtaining the grade A coffee beans from suppliers to use in the Starbucks coffee. Inbound logistics; For Starbucks this means receiving the coffee beans and other products that they need to make the products in their stores from their suppliers and storing these until they are used to make the product that they are going to sell. Operations; this is the stage where Starbucks make the coffee in the store and package the other subsidiary products. Outbound logistics; this is collection, storage and distribution of coffee. A customer actually purchasing a cup of Starbucks coffee from the store. Marketing and Sales; This is how consumers become aware of Starbucks coffee and purchase it. Starbucks is a worldwide company and their brand is recognised all over the world, which means that marketing is not as necessary as it once was. Most people now recognise the name and associate the brand-image with high quality products. Service; this includes all the activities that enhance or maintain the value of the product, e.g. installation, repair and training. This area is concerned with the members of staff that deal with the customers, it focuses on the need to ensure the ‘customer experience’ of visiting a Starbucks store is all the more enjoyable due to the friendliness and efficiency of staff and consistently high quality product on offer.

Best Buy Essay

Best Buy is one of the world’s largest multinational consumer electronics retailers with stores in Canada, China, United States and Mexico. Richard M. Schulze and Gary Smoliak founded Best Buy in 1966, but it was established as a company in 1983. The company’s stores offer video products, audio products, musical instruments, mobile electronics, home & office products, and networking equipment as well; it also provides service contracts, warranties and repair services; therefore, it operates as a retail store, online retail and call center. Best buy has been facing the increase in competition from online retailers and discount stores however the company has been reorganizing its e-commerce offerings and making other site upgrades. An effective communication is important for managers in the organization so that they can perform their jobs and responsibilities. A manager would need the basic functions of management that are planning, organizing, leading and controlling. Customers turn to Best Buy for purchases and answers to their technology questions; this company gives their clients the opportunity to communicate, learn with all different benefits that Best Buy has to offer. Today, we have become more dependent on technology. We live in a society that is called â€Å"technologically civilized†, meaning that every small work we do, is technology dependent. Every person is carrying a device or gadget that is technically advanced. Ultimately we can say that in this technical world of today, we are much dependent on technology. Gadgets make it easier for communication to take place when someone needs to reach out to other people in different countries. We also use technology to work, purchase things online and basically do almost everything. As a company, Best Buy strives to reach out to their local community to provide new and creative programs to serve the community. Best Buy will train their employees to educate shoppers on hand held devices and walk them through purchase and activation. In the customer support section, shoppers can ask Best Buy employees what they can do when something goes wrong with a hand held device, as when the screen breaks. Marketing strategic plans Best Buy is one of the largest specialty retailers in the United States. It is the 10th largest online retailer in the U.S and Canada and it is also number one in customer service. All employees are committed to helping deliver the technology solutions that provide knowledge, values, and ideas whether online, via mobile device or in stores. It also provides variety of services which makes them one of the leading retail and consumer merchandise companies. With each visit, Best Buy offers the customers an inviting and inspiring experience. Best Buy sets high-quality standards of communication and uses different marketing strategies to reach the public. It appeals to a diverse public and makes sure whoever enters their stores, feels comfortable enough to approach one of our employees when they need help. Best Buy’s communication aims to build a reputation with best quality brand and service. Best Buy sells a wide variety of products that appeal to all ages and gender types. They are an electronic store that sells DVDs, CDs, video games, iPod and mp3 music, phones and TVs. There is a music section that appeals to musicians, where you can get music albums and musical instruments. You can find phone sections for those who need or would like to have the latest phones. You can also pick up a computer or laptop for personal use or work. Television lovers have a big section as well. Best Buy has a lot more to offer for the younger audience, there are toys and video games. For the older audience there are appliances, suc h as TVs, home theater systems, car accessories, office supplies and more. Overall Best Buy target audience is not specific due to their variety of products. Best Buy’s  target market is the general consumer; the one that continuously visits their stores and that are satisfied with their product quality. In order to get a hold of their customers, Best Buy mostly advertises the latest phones, such as the Apple iPhone, and Samsung’s Galaxy. Phones are an everyday necessity and Best Buy has made it their main product to advertise. There are seasonal promotions where Best Buy has summer sales for back to school and Christmas sales for the winter. Best Buy takes a hold of their customers by doing this. Customer loyalty is not a problem due to their variety of product. Customer loyalty programs/Customer Service Best Buy has different strategies to keep customers coming back and buying their products. When school is back in session, usually around August 1st they commence their back to school deals on electronics such as laptops, tablets, cameras, phones, TVs and any other sort of devices students need or like to buy, which is their way of getting people’s attention by lowering the prices of their favorite electronics. Best Buy’s slogan on the back to school deal is â€Å"Deal today. Gone tomorrow. Limited quantities.† They have free in-store pick up, which will allow the customers to pick it up at the store, avoiding shipping and delivery charges. Aside from having back to school deals, Best Buy works on developing customer loyalty by having the lower price guarantee, which is finding a lower price and matching it. The way it works is if the customer finds an item at local competitor retail store or Mayor Company online with a lower price than Best Buy, they will do their best to match that price, both in stores and online. It is their way of keeping the customers committed to their stores and to keep them from buying an item at another store. â€Å"Deal of the day† is also a method used to keep customers engaged and to improve customer-driven service quality. Best Buy puts popular items up for sale. They have weekly offers, texts alerts and emails to alert you when there’s a sale going on and customers will have the chance to buy quality items at a more reasonable price. When you order online, they have free standard shipping on sale items and no minimum purchase required. These deals improve customer loyalty an d customer satisfaction. Product Quality and prices When you want to buy an electronic, the first place you think of is Best Buy. You look for Best Buy because is a familiar place and you trust that you can get a quality product along with great prices. They have owned up to their image by building up to customer loyalty along with customer satisfaction and customer engagement. With the merging of different operating systems all in one place, Best Buy promises the latest devices and services, knowledgeable employees, impartial advice, competitive prices, ability to shop online as well as in stores and support for the life of the products. In order to keep those promises, Best Buy offers a variety of exclusive services to make the most of the mobile technology. They have upgrade checker, where buyers are able to know whether or not they are eligible for a new phone. They also have a program called â€Å"trade-in† where customers trade in their mobile phone and in return they get a $200 Best Buy gift card. The â€Å"Geek Squad protection† is a service that Best Buy provides from within the store. They have a section with letters written on top spelling out â€Å"Geek Squad† in orange, black and white. Their slogan is, â€Å"Go ahead. Use us.† It covers accidental damage from handling battery replacement to repairing electronics. They also have an app that customers can access the Geek Squad and get protection benefits. Best Buy also offers phone activation and transfer all of your contacts to your new phone. They call it the â€Å"walk out working† program. They can set up your phone as soon as you buy it and will throw in a Bluetooth set up. And to ensure that you get the best service, they offer a Best Buy rewards card. You pay no interest and you are able to earn rewards as long as you use it. As for product prices, best buy has the most popular operating system, all in one store. They sell the Windows Phone, Blackberry products, iPhone products, Android products, Bose electronics, Beats products, and many more. Prices range from $49.00 to $ 399.99 for phones. And that’s including new phones. They put newer phones at a lower price when the customer signs a service contract. The lower prices help lure the customers in the store, resulting in greater revenue. SWOT Best Buy specializes in consumer electronics, home office products, entertainment software and household appliances, therefore is one of the largest specialty retailers, providing a diverse customer service. Best Buy gives a major importance to the Strength, Weaknesses, Opportunities and Threats (SWOT) that the company may face. Some of the strengths are that it operates more than 1,150 stores in the United States and abroad. Its revenues are $16.26 billion and profit of $651 million. It also leads U.S retailer offering a wide market mix of services in computers, televisions, tablets and cameras. The weaknesses of the company are primary reducing prices to match competitors, it established image as a lower quality retailer and some impacts from the past of class action lawsuit. The opportunities for Best Buy are primarily to grow in sales of mobile phones and tablets, extended store hours, hiring highly trained sales consultants so that they can assist with technical issues, improving inventory management through long term relation with supplier, as well as outsourcing items to China which will lower production costs. The threats that Best Buy encounter are the online and retail competitors. Its current competitors are Staples, Office Depot, Wal-Mart, Costco, Sam’s club and Amazon. Another threat would be the pressure to reduce prices because of the competitors and rising labor wages. Competitors around 5th Ave Store Its competitors around 5th Ave store (between 43rd St and 44th St) are H and B Digital (located on 46th St between 5th Ave and 6th Ave), RadioShack (located on 42nd St between Madison Ave and Park Ave), and Barnetts Computer Warehouse (located on 5th Ave between 38th St and 39th St). Other than these, there are many electronics retailers on 5th Ave within 10 blocks from 36th St to 46th St all of which have its own competitive advantages to survive in this area. For example, RadioShack retails a wide range of products, from cables to cameras. They offer technology products, accessories, mobile devices, and power supplies. Therefore, competition in this area is also intensive, as many competitors that have their own competitive advantages and strengths surround the store. Competitors in general Major competitors for Best Buy CO., Inc. are Wal-Mart Stores Inc., Dell Inc., RadioShack Corp., Target Corp., etc. The leader of this market is Wal-Mart Stores, which has 252.14 billion market capitalizations. Wal-Mart’s strengths are that large scale of operation and word-wide, which is 3,615 stores in all over the world, and low cost performance. RadioShack Corp. also has 4,453 stores in the United States and Puerto Rico, according to its official web site. Therefore, the electronic retailing market has very intensive competition. How Best Buy survives in this competition is that they have their original loyalty program, which is called â€Å"Reward Zone†. With this program, customers get 1 point for every $1 spending on purchase at Best Buy stores and 250 points is going to be $5 reward certificate. They also e-mail customers when the reward certificates are available. The customers print their reward certificates online or access it with Reward Zone mobile app. Overall Appearance Upon walking into a Best Buy, one can notice the effort they go into keeping their store looking presentable at all times. Not much seems out of place when considering the overall appearance and sanitation of the store, with the few exceptions of items out of place because of customers themselves placing merchandise on the wrong shelf when the item is not needed. This is definitely a place where one can feel comfortable shopping because of its clean and organized environment. When it comes to talking about controversies, Best Buy is no stranger to the issue. Connecticut State Attorney General Richard Blumenthal is investigating Best Buy after it was discovered that some locations throughout the country were using a secret website identical to the public website that everyone can access through www.bestbuy.com, to deny customers of the advertised prices when shopping at the locations. Essentially customers would search for deals on their website and decide what they wanted to buy howe ver; when they arrived at the store to buy the item they were denied the price when a store associate would show them a different price on their secret website. The website looked the same as the public one, but only store associates had access to it, with which they could manipulate customers into paying the higher price. It was also found that locations in New Jersey and Ohio were selling used merchandise as new when they would repackage it, as well as not fulfilling customer  rebates. Controversies such as this show an unprecedented market unfairness not often seen with a major U.S. retailer such as Best Buy. One would think a company as big and with so few competitors such as Best Buy would stray away from bad business practices, but the reality is different. Reflections It is interesting how much we, as a collective team, have learned about Best Buy over the course of our many visits, interviews and research. We have come to the conclusion that Best Buy truly is a force to be reckoned with when talking about electronics. From the customer service, their loyalty programs, variety of products, and down to their reasonable prices. As a group we understand the value of these great qualities, and despite the controversies, we stand as loyal customers to this great brand. Best Buy is a great place to shop for electronics. They have several quality brands customers can chose from. Their products are not an issue in this organization, something they should focus is on is their service. New customers walk in and do not immediately know where everything is. In order fix this issue Best Buy should have a staff member that greets the customers and ask if they need any assistance such as help with looking for a certain brand and product, information on current sales and who to speak with in case of any questions on a product. Cleanliness is not a major issue with the stores, but customers sometimes look through the store items and don’t replace them where they belong so staff should improve on their cleanliness and organization of the items. Recently one of our teammates bought a computer to Best Buy, and being an existing customer she expected to receive good service; however she notices that most of the employees did not help each other and there was a long line at the cashier. No one wanted to help until one employee came up to her and asked her if she needed help. He had confessed to her that no one wanted to do anything because the employees found out that they were not receiving commission anymore. There was a lack of communication with employees and with customers. There were a few employees giving the service, the rest were walking around watching the game. Overall, as far as we have come to know Best Buy, we learned that it is a store with a variety of high quality products. Of course it has its flaws, but which business doesn’t? Best Buy does its best to keep their  reputation as the number one retail store, and provides the consumers with their needs and wants. Best Buy is recognized as the number one store for electronics. When you think of buying an electronic, the first store you think of is Best Buy.

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What to Expect From Top Ten Essay Topics? The Birth of Top Ten Essay Topics Thus, for your coursework, you're want to have the very best ideas. It is often as large or as small as it is possible to think about! Students lead busy lives and frequently forget about an approaching deadline. A lot of students put on a uniform. If You Read Nothing Else Today, Read This Report on Top Ten Essay Topics You are going to be surrounded by writing professionals throughout the plan of order placement, and the moment you opt to purchase essay and pick an allocated writer, things will get even more exciting. The reader ought to be impressed by the manner in which you defend your ideas. When you're picking your topic, remember that it's much simpler to write about something which you currently have interest ineven in case you don't know a great deal about it. When choosing what to write about, make certain that it is something which you recognize about. Instead, start the moment the assignment is given so that you're able to have ample time to choose a topic, do your research and produce the last draft. Even if you're a specialist in a particular field, don't be afraid to use and cite external sources. Moreover, you wish to opt for an essay topic that's going to permit you to demonstrate your skills to the best of your ability. On the flip side, if you select a controversial topic you have very little interest in, you'll find it quite tricky to finish the assignment. How people will act if there will not be any rules in any respect. Contribute your thoughts and people are certain to read! Opt for a distinctive topic that others may not think of, and whatever you select, make certain you know a lot about it! In every nation, individuals obey legal laws. Argumentative essay topics are so important since they are debatableand it's important to at all times be critically considering the world around us. The essay is just one of the significant approaches you're able to distinguish yourself. Moral argumentative essay topics are a few of the simplest to get carried away with. Recent argumentative essay topics that are related to society is going to do. You must make certain your paper does not have any grammar issues when you submit it. When you are finished with your essay, you must not simply check it for spelling and grammatical errors, but nevertheless, it also has to be checked for logical fallacies. Be attentive to the size it must be and get started writing the narrative essay outline. Thus, it's important to read corresponding formatting guide. It's possible to opt for an intriguing topic from any area of science. When students are writing their argumentative essays which must find, read and analyze plenty of material to do good. You're able to create a creative essay if you'll focus more regarding the school and not for that institution. Social science essays offer you an opportunity to present your opinion and speak up. You may want to consider working on the how-to essay for a genre. Whether you need to make a paper of one-of-a-kind flawlessness, just purchase an essay here and our writers will provide help. You may be the ideal writer ever but it is dependent on your focus! Actually, a seasoned writer can get the job done much faster than any student as they've been writing academic assignments during their entire life. The purpose is to satisfy your intended audience, regardless of whether it's your teacher or classmates. All you need to do is select the category or kind of essay that you were assigned to write for school. You will be assigned a topic, or your professor will permit you to select your own. In the event you seek an internet service to give you the very best essay topics in English, we're here to be at your services.

I Am An Exciting Day - 1296 Words

Today is going to be an exciting day. I’m going out with my family and the trading group from our village for the first time ever. Our village is called â€Å"Esuabout fasemoswa †, located at the opposite side near the Tigris river beside Mesopotamia, five miles away. People often pass by our village and stay the night. We started out early before the golden sphere was awakened. Mother hurried me to eat faster. We had to get into our vessels and head out. We had split up into small groups, five people per canoe, heading onto the blue. The river was an amazing Tigris god with animals swimming in and out of the sapphire ripples. It sparkled as the golden sphere arose. We had cider, food, weapons, and shiny things to trade. Our trading Chief†¦show more content†¦{â€Å"Okay, Jade remember what mom said hold onto your stuff so it doesn t get stolen, watch where you go so you don t lose any products, respect the higher ranks, and made good trades. †}. I looked at the women, men, and some kids my age trading. Getting a good grasp on my trade items. I stepped into the group immediately bumping into someone. â€Å"Oh sorry, I wasn’t looking where I was going. Are you o- Kathryn?† I said as I looked up.â€Å"Jade?† I had noticed it was Kathryn from her clay drawing, her d escription was impeccable.{â€Å" Tall, hair like the fire gods, green eyes, and skin that hasn’t been kissed by the sun †} Yup it was her. â€Å"What are you doing here?† She asked. â€Å"It’s my first time trading!† â€Å"Mine too† she stated. â€Å"Cool, what are you trading?â€Å" â€Å"I’m trading some cloth and wood for fruits and meats† â€Å"....† â€Å"What?† she asked. Just then I felt a huge surge of laughter coming up my throat to my mouth. I burst out laughing. People started to shoot weird looks at me. Laughter has always been my weakness. Kathryn pulled me away from the group. â€Å"Are you ok? And why are you laughing?† She asked confused, concerned, and amused. â€Å"Y-yeah i’m fine it s just, i have food and i needed cloth and wood. Do you think we could trade?† I asked catching my breath.†Sure.† I gave her a quarter of my trade items which was about 10 pieces o f fruit, in return. She gave me a quarter of her cloths. â€Å"Didn’t that seem a little convenient.† â€Å"Yeah, theShow MoreRelatedGoals In Life969 Words   |  4 PagesMy life, dreams, and goals are exciting because I have no clue what my future holds. I love to be very organized, but sometimes my plans change very quickly. My Mom is always telling me to â€Å" trust God in everything because it is all in His control.† In my life I want to give it my all if it is something big or even if it is something small. 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