Best Buy Essay

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u [pic] Brittney Jones Fernisha McMillan Courtney Middlebrooks Leondra Nash 5-5-2010 BSA 201 - International Business Dr. Okoroafor Nzeh End of Term Project Best Buy Company, Inc. is a Fortune 500 company and the largest specialty retailer of consumer electronics in the United States accounting for 21% of the market. The company's corporate headquarters are located in Richfield, Minnesota, USA. Best Buy sells consumer electronics as well as a wide variety of related merchandise such as computers, computer software, video games, music, DVDs, Blu-ray discs, mobile phones, digital camera, car stereos and video cameras, as well as home appliances, in a non-commissioned sales environment. Each store also includes a department for audio/visual equipment for automobiles, offering on-site installation services, as well as a Geek Squad "precinct" for computer repair and warranty service and accidental service plans. Best Buy prides itself on the fact that their sales people are not on commission. Best Buy building exteriors are usually light brown in color with the entrance in an area designed to look like a blue box emerging from the rest of the structure. In 1966, Richard M. Schulze opened Sound of Music, an audio specialty store, in St. Paul, Minnesota. The company grew over the years, expanding to nine locations by 1980. In 1981, Schulze's most successful store was destroyed by a tornado. This event resulted in a highly successful sale that combined a large selection with low prices and heavy advertising. Similar "Tornado Sales" became an annual Sound of Music event. This was the predecessor to today's typical Best Buy store, lots of product, recognizable staff in polo shirts, and lots of marketing. In 1983, the company's name was changed to Best Buy Co., and the store shifted its focus to consumer electronics. Over the following

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