Research Paper on:
SWOT ANALYSIS - BEST BUY

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many electronics markets (such as computers, DVDs, televisions and other markets), Best Buy is trying to refine other approaches to attract customers into its stores. One of these approaches, as  well see, is "niching," in other words, developing specific retail outlets to cater to specific retail groups. Best Buy, with strong concentrations  in Texas, Florida and Illionis, has more than 780 stores throughout the U.S. and Canada (Anderson, 2004). The company operates under retail names Best Buy, Future Shop (in Canada) and  Magnolia Audio Video (along the U.S. west) (Anderson, 2004). Also under Best Buys umbrella is Geek Squad, a service operation that offers  computer support services to business and residential customers (Anderson, 2004). Geek Squad operates in seven U.S. markets, and provides in-store technicians at about 20 Best Buy stores (Anderson, 2004). More  than a third of the companys sales, in the U.S., is a result of consumer electronics, followed by office products (Anderson, 2004).  With competition being huge and profit margins in electronics increasingly becoming slimmer (as the technology becomes more prevalent and less expensive to produce), lets examine Best Buys SWOT.  Strengths. One huge strength that Best Buy should be applauded for is its Customer Centricity, which was developed to help jump start more  growth out of its mature company image (Heller, 2005). The operation behind Customer Centricity involves realigning and refashioning stores to serve specific demographics (Heller, 2005).  The test of the concept is already yielding results - following the third quarter of 2003, the segmented stores out-performed other U.S. Best Buy stores (Heller, 2005).