To understand more on how Best Buy conducts its business I visited the website and selected Apple Airpods white in color and compared it with the same product in Walmart website. I found the following
Best Buy
Walmart
Cost Co
Reviews - 21,421
Reviews- 187
Reviews - 1,579
$159.99
$144.98
Need to sign in to find price. There are a lot of members only item.
Option of price match guarantee- If others selling for lower price, they will match the price aside from schemes.
No such deal
No such deal
Free shipping - get it within 5 days
2 day free shipping - reach in 3 days
$4.99 for shipping, 3-5 days delivery
Card members get 5% off
No such deal
No such deal
Customer questions 256, 1254 answers - Knowledgeable, Informative, and genuine answers about the product. Sharing personal experience while answering questions. This helps others to also understand about the product.
No customer questions or answers found.
No customer questions or answers found.
I personally reviewing the three websites for the same product found different things. I saw that Best Buy was open about its product and also clearly stated that they would match the price of competitors if found to be lower than theirs aside from special offers and schemes. They have over twenty one thousand reviews as compared to 187 and 1579 in Walmart and Cost co. This may not be sufficient to decide on the favorability but still this is substantial visits and review and has to be considered even though it is only for a product.
Next I checked Samsung note 9. Cost Co does not have it while Best Buy is selling it for $799.99 and Walmart for $ 999.99. Similarly Cost Co did not have Sony 55” Oled TV. Best Buy had it price under $2499.99 while Walmart had it for $ 2,498. Again there were 276 review on Best Buy while Walmart did not have any customer reviews. This for me showed not only more visitation but more interaction and preference with Best Buy over others. There were also 43 questions and 93 answers found in Best Buy information general confusions and queries that customers may have on the product.
In addition Best Buy has stores have function appliance and machineries where customers can come and observe and even analyze the products. Many companies such as Apple, Sony etc. have set up these hub inside Best Buy so customers can come and review their appliances. Another even more interesting thing about Best Buy is their Geek Squad who are a team of experts that go from home to home to help understand the problem of not working camera, TV, washing machine and solve it right at the home. (KELLEHER, 2016)
Another strategy used by Best Buy is the matching the price. This new innovative strategy eliminates and counters low price strategy by competitors which is pretty ingenious. Outlets all over the US are used to deliver good within hours and not days which is another differential strategy.
These are all differential strategy. They are not selling products for cheap but rather competitively but are using various strategies to improve customer experience, compete with competitors, reduce delivery time and even provide home maintenance services. Differential strategies create and offer value to customers that others are not and these usually address problems of customers providing value proposition (Gamble, Peteraf, & Thompson Jr, 2015). Best Buy has set itself apart with their differential strategy providing value to customers by choosing them over others. Cost Co with their membership I think is limiting themselves and Walmart does not have value proposition in terms of differentiating themselves from other similar companies.
References
Gamble, J. E., Peteraf, M. A., & Thompson Jr, A. A. (2015). Essentials of Strategic Management The quest for competitive management. NewYork: McGraw-Hill Education.
KELLEHER, K. (2016, July 19). How the Geek Squad Could Be Best Buy’s Secret Weapon. TIME .
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To understand more on how Best Buy conducts its business I visited the website and selected Apple Airpods white in color and compared it with the same product in Walmart website. I found the following
I personally reviewing the three websites for the same product found different things. I saw that Best Buy was open about its product and also clearly stated that they would match the price of competitors if found to be lower than theirs aside from special offers and schemes. They have over twenty one thousand reviews as compared to 187 and 1579 in Walmart and Cost co. This may not be sufficient to decide on the favorability but still this is substantial visits and review and has to be considered even though it is only for a product.
Next I checked Samsung note 9. Cost Co does not have it while Best Buy is selling it for $799.99 and Walmart for $ 999.99. Similarly Cost Co did not have Sony 55” Oled TV. Best Buy had it price under $2499.99 while Walmart had it for $ 2,498. Again there were 276 review on Best Buy while Walmart did not have any customer reviews. This for me showed not only more visitation but more interaction and preference with Best Buy over others. There were also 43 questions and 93 answers found in Best Buy information general confusions and queries that customers may have on the product.
In addition Best Buy has stores have function appliance and machineries where customers can come and observe and even analyze the products. Many companies such as Apple, Sony etc. have set up these hub inside Best Buy so customers can come and review their appliances. Another even more interesting thing about Best Buy is their Geek Squad who are a team of experts that go from home to home to help understand the problem of not working camera, TV, washing machine and solve it right at the home. (KELLEHER, 2016)
Another strategy used by Best Buy is the matching the price. This new innovative strategy eliminates and counters low price strategy by competitors which is pretty ingenious. Outlets all over the US are used to deliver good within hours and not days which is another differential strategy.
These are all differential strategy. They are not selling products for cheap but rather competitively but are using various strategies to improve customer experience, compete with competitors, reduce delivery time and even provide home maintenance services. Differential strategies create and offer value to customers that others are not and these usually address problems of customers providing value proposition (Gamble, Peteraf, & Thompson Jr, 2015). Best Buy has set itself apart with their differential strategy providing value to customers by choosing them over others. Cost Co with their membership I think is limiting themselves and Walmart does not have value proposition in terms of differentiating themselves from other similar companies.
References
Gamble, J. E., Peteraf, M. A., & Thompson Jr, A. A. (2015). Essentials of Strategic Management The quest for competitive management. NewYork: McGraw-Hill Education.
KELLEHER, K. (2016, July 19). How the Geek Squad Could Be Best Buy’s Secret Weapon. TIME .