Need to read this case and answer the questions provided in the word document

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Need to read this case and answer the questions provided in the word document


MGMT 5335 INTERNATIONAL STRATEGIC MANAGEMENT CASE ANALYSIS Team Member Names (Participants Only): Questions: 1. Competitor analysis a. Describe Best Buy’s competitive position relative to its main competitors. (200 words) b. Which competitor poses the biggest threat to Best Buy? (150 words) 2. Business-level strategy a. What is Best Buy’s business-level strategy? (150 words) b. What are the key value drivers and cost drivers of Best Buy? (200 words) 3. Strategy renewal a. Consumer electronics is a mature industry. Where can future growth come from? (150 words) b. How should Best Buy adjust its strategy to strengthen its competitive advantage? 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Pantoja, 2023. This document is authorized for use only by David Pantoja in MGMT 5335 - International Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from Apr 2023 to May 2023. 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Pantoja, 2023. This document is authorized for use only by David Pantoja in MGMT 5335 - International Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from Apr 2023 to May 2023. 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Pantoja, 2023. This document is authorized for use only by David Pantoja in MGMT 5335 - International Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from Apr 2023 to May 2023. 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Pantoja, 2023. This document is authorized for use only by David Pantoja in MGMT 5335 - International Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from Apr 2023 to May 2023. 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Pantoja, 2023. This document is authorized for use only by David Pantoja in MGMT 5335 - International Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from Apr 2023 to May 2023. 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Answered 2 days AfterApr 14, 2023

Answer To: Need to read this case and answer the questions provided in the word document

Ayan answered on Apr 16 2023
38 Votes
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Title: Case Study Analysis
Contents
Competitor analysis    3
Best Buy's competitive position relative to its main competitors    3
Which competitor poses the biggest threat to Best Buy?    3
Business-level strategy    4
What is Best Buy's business-level strategy?    4
What are
the key value drivers and cost drivers of Best Buy?    5
Strategy renewal    6
Consumer electronics is a mature industry. Where can future growth come from?    6
How should Best Buy adjust its strategy to strengthen its competitive advantage?    6
References    8
Competitor Analysis
Best Buy's Competitive Position Relative to Its Main Competitors
    Best Buy is a leading store of consumer electronics, office supplies, entertainment software, and appliances in the US. Its distribution network consists of about 1,000 physical stores, mobile freestanding stores, and online outlets. Among the severe competition that Best Buy faces are Amazon, Walmart, and Apple. Amazon, Walmart, and Apple are Best Buy's main rivals in terms of revenue. Best Buy's market share is being threatened by Amazon's aggressive price, wide range of products, and quick shipping options. However, Best Buy stands apart from rivals because to its solid brand recognition, devoted clientele, and extensive product selection, which includes special goods and services. The primary competitive advantages of Best Buy are its client-centric strategy and focus on offering a differentiating customer experience through unique items, professional guidance, and top-notch customer service. Additionally, Best Buy provides services like Geek Squad, which offers installation and technical assistance, and has made investments in its online presence, including providing free shipping and in-store pickup choices. However, in order to maintain its consumers in the face of fierce competition from Amazon and other online retailers, Best Buy must adjust to the change to online shopping and provide competitive prices.
Which Competitor Poses the Biggest Threat ToBest Buy?
    Amazon poses the largest danger to Best Buy in the highly competitive consumer electronics market (Darmawan, Didit& Elodie). Traditional retail, particularly Best Buy, has been impacted by Amazon's dominance in e-commerce. In order for Best Buy to compete, it is imperative that it responds to Amazon's substantial advantages, which include its affordable prices, wide range of products, and quick delivery times. Customers from Best Buy have joined Amazon's Prime membership program, which provides free delivery and access to streaming services. In order to keep its consumers in the face of fierce competition from Amazon and other online shops, Best Buy must have a strong online presence. In order to keep its consumers, Best Buy may use its physical shops to provide in-store pickup choices and competitive price. Further boosting its threat to Best Buy, Amazon has been building its own line of consumer electronics goods, including the tablets Echo, Kindle, and Fire that are offered directly to consumers. Best Buy must thus modify its approach to strengthen its competitive edge and fend off the danger presented by...
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