Best Buy & the Social Media World Essay

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BestBuy And the Social Media World By Shawn M. Hobbs August 12, 2012 Social Media Marketing- MKT 345 Instructor Michael Poliquin Introduction Best Buy Co., Inc. is the leading American based public company in the U.S. that specializes in the retailing of consumer electronics, which accounts for nineteen percent of the electronic market. The headquarters for Best Buy is in Richfield, Minnesota and also with operating within the United States; they also operate in Puerto Rico, Mexico, Canada and in china. Making this company one of the largest global companies that is based within America. Best Buy also operates under different subsidiary companies, to include CinemaNow, Geek Squad, Magnolia Audio Video, Pacific Sales, with in Canada they operate under both the Best Buy label and the label of Future Shops. Both internationally and nationally with all of these different subsidiaries included, they operate and own more than 1150 stores worldwide. Along with your regular based Best Buy stores they also operate over one hundred Best Buy Express Automated Retail stores that you would find in airports and in malls across the whole United States. Back in 2009, Best Buy became the largest electronics retail store, both online and mortar, in the United States. With the Best Buy brand they have multiple ways of product purchasing. You can purchase in store (mortar), which is the old fashion way; you can purchase via their website which has many offers of “in store” pick up and home delivery, they also have a mobile application and another way is by searching different social media networks. Within this paper, this student will discuss the shape of Best Buy’s business model; their pricing strategy, their distribution strategy (both mortar and web based), and this student will also discuss the market strategies of this business. We will also discuss their customer
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