Filed under: Competitive strategy, Best Buy (BBY)

Best Buy, Inc. (NYSE: BBY) has become the largest consumer electronics chain in the U.S. be using a combination of discount pricing across the board and a store count presence that has whipped much of the competition. As always, growth by store opening can only last so long. But Best Buy has a trick up its sleeve for even more growth. Mostly, its plans lay in urban growth instead of suburban growth.

To accomplish this, the retailer is partnering with legendary professional basketball player Magic Earvin Johnson. Although part of its urban growth strategy will continue to involve specialty product retailing, the addition of a legend to its marketing arsenal is nothing short of a great idea. Just recently, Best Buy brought Johnson to Bloomington, Minnesota to talk at a sponsored kids’ basketball tournament. Johnson’s business involvement with many large national franchises like Starbucks and Burger King makes it easier for the retailer to center in on some of those locations Johnson’s company owns as well.

Continue reading Best Buy and Magic Johnson: a recipe for urban, retail, big-box success?

Best Buy and Magic Johnson: a recipe for urban, retail, big-box success? originally appeared on BloggingStocks on Thu, 16 Jul 2009 15:00:00 EST. Please see our terms for use of feeds.

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