STRATEGIC RECOMMENDATION Essay Example | Topics and Well Written Essays - 1250 words

STRATEGIC RECOMMENDATION - Essay showcaseThe corporation was initially facing stiff competition with Circuit metropolis however, the failure of Circuit City (a former electronics dealer) in 2009 after deep stinting recession and subsequent decrease in twain domestic and inter subject field demand of electronic equipments, accessories and machinery has enabled the corporation to freely play in the market and take a leak additional market share. Its operational stores are more than 1,000 in USA and Canada besides online presence, whereas sales in 2010 remained over $40 billions. This is an evidence of Best Buys financial strength, resources and abilities. In addition, the company has secure brand recognition, consumer acceptance, an established supply chain and chain network followed by a large kitten of loyal (plus satisfied) consumers who have an inclination to purchase Best Buy products. Also, the consumers are inclined towards electronics and gadgets perhaps because of their warm life and heavy exposure to media that portray innovations. It must be highlighted that Best Buys has already introduced and has adopted miscellaneous customer and partner relationships improvement strategies such as focusing on after-sales services, product installation (home theatres, figurer configuration etc.), product warranties, and others etc. These were not adopted in past, but have now been a major part of firms strategy to entice customers, improve their perceived loyalty and value, and to invite a competitive edge over its rivals something it has done better in the past than any national electronics retailer. It is also expected that it would increase the sales of company in both short and long run.However, the economic recession, reduction in households real incomes and purchasing because of poor employment prospects is a threat that could hinder the festering of this industry in the short run, but the recovery of economy from recession, improvement in business ou tlook, proof and security in job market will improve the