Evaluate Best Buy and determine why they charge different price points for the s

Question

Evaluate Best Buy and determine why they charge different price points for the same product. You can approach this from the position as the product manager, evaluate how well they represent the product within their retail strategy. The product is duracell batteries.

Research of the retailer-

Heading (About the retailer)

SubHistory, Sub current situation

Heading (retail strategy )- sub overview of strategy Sub SWAT analysis of retailer sub competitive analysis

Heading (target market of the retailer?)

Heading (pricing)

Sub Pricing Strategies, Sub pricing tactics, Sub store set up

Heading (trade-area)

Sub Location of store, Sub Specifics of trade-area

Heading (store visit)

SubSecret shop the staff (how you did it) Sub atmospherics, Sub service, Sub situational factors

Sub Note product location and presentation

Heading Interview

SubSpeak with salesperson

Sub Interview a manager

These are general questions to evaluate for the retailer "Best Buy" as an organization.

**There is no case attached**

Explanation / Answer

About the retailer:

The retailer deals with the best quality Duracell batteries and sells the batteries to the customers and also supply to the shops across the city. It has a wide range of services across the network and it maintains a good quality of products for effective business.

     History: It is operating from long years ago with a high-quality supply of batteries and with a high value of customer demand. It has long range different qualities of batteries supplied all over the parts of the country.   

   Current situation: The current situation is very strong with a good profit in the organization with high values of customer response.

Retail strategy: It follows a proven marketing strategy which influences the customers effectively.

   Overview of strategy: To sell the products on time and to earn benefits for the company the managers are giving their best effort to make effective strategies for the growth of the company.

   SWOT analysis: These are absolutely focused to deal with the threats and opportunities.

    Competitive analysis: With a keen focus the analysis of the competitiveness can be done to make the business strong and keep the customers on your side.

The target market of the retailer: It is the art which a businessman achieved with the years of experiences so that the actual potential target is to keep the focus on making the business and dealings effective.

Pricing: The price is the major factor which a customer focuses at the first time before buying any product.

    Pricing Strategies: The pricing processes are required to be determined very accurately keeping in mind about the market price so that the customers choose your product only.

    Pricing tactics: It can be done using the market research process and then a perfect price is required to be decided which can be easily targeted by the customer for selling the batteries.

   Store set up: It is also an art when a customer visits your store the first impression the customer found is stock and clean. To grab the customers a good decorum has to be maintained in the store.  

Trade-area: It is the targeted or specific area which determines the opportunity cost, it also implies to choose the absolute alternatives so that the profit surely comes into that sector.

Location of store: It has to be considered based on the research done for demographics and Geographic’s so that the targeted zone for business can be identified for making the business stronger.

Specifics of trade-area: It is the art of choosing the best alternative in the business so that the profit comes surely and no loss of the cash flow may occur.

Store visit

Secret shop the staff: Visiting store as a senior manager in form of customers is to keep the focus on the staffs about their behavior with the customers and it will help them to remove the staffs who misbehave with customers.

Atmospherics: The environment and work process can also be identified in the organization if secretly store visit is done.

Service: Sometimes the staffs in the store may neglect to give services to the organization to catch them and to make services extraordinary it is necessary.

Situational factors: Some factors are happen based on the situation in the store it may be bad customer relation, taking a bribe or not taking high price of the product, all sort of activity is captured by a store visit.

Product location and presentation: It is as per the area where the population is more or less. To target the customers it is required to have product location and to present the product in such a way that the customers love to buy it.

Interview:

Speak with salesperson: The salesperson is required to take the interview and data must be collected for many customers experience about any change of the product or price. It will help the organization to boost the production process.

Interview a manager: A manager is required to have an interaction with the entire process of the store, new implementations, and customer experiences. It will help the company to focus more on the company benefit process and changes that are required can be done effectively.

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