Best Buy: Customer Centricity Strategy

Introduction

Best Buy is leading consumer electronics retailer in the USA. Its new program, Customer Centricity, is aimed to sustain its brand image and increase customer satisfaction and loyalty. The uniqueness of this approach is that it combines such important elements as culture, segmentation and effective marketing. For Best Buy organization structure to the point is focused on customer satisfaction. For best Buy, to remain competitive, this is not enough. Customer centricity strategy becomes customer-driven and commitment-based. The intended strategy must further evolve to optimize customer loyalty and value. Where the new strategy is focused on customer needs, customer-driven, commitment-based structures concentrate on exceeding and anticipating them.

Customer Centricity Strategy

The main idea of customer-centricity strategy is to put customers at the center of business. All strategies and goals of the company are aimed to meet customers’ needs and demands. These structures have goals of customer satisfaction, connecting personal performance objectives, and group assessment to this objective; the goal of customer-driven arrangement is customer retention. The strategy aims to improve loyalty and create a new culture at Best Buy. Performance, evaluation, recognition, and reward are now related to creating value and to retention goals. Best Buy customers have a definite partnership role on corporate goals. At Best Buy a cross-functional approach to a customer included customers helps the company significantly reduce an industry headache–transaction time involved in the sales itself. At best Buy, sales managers become “advisors” for existing customers, filling their non-selling time (almost 80% of their working day) with contact and other post-sale promotion activity. Changes in employees-centric culture led to new vision of the company and its mission statement (Doyle and Stern 32, see appendix 1,2,3).

Rationale for this Shift

The rationale for this shift was caused by market demands and increased competition, geographical expansion and acquisition strategy. As a commitment-based company, Best Buy is more actively involved in service delivery. Customer service operates as a profit center. There are more cross-functional strategies, more cross-training, more cross-boundary education on behalf of the customers. Business expansion and growth demanded new methods of doing business and new tools in customer communication. Best Buy staff can provide sales follow-ups, enhancements, and add-ons. Best Buy employees can reclaim lost customers. They can survey current or lost customers and generate unexpressed claims. Best Buy conducts outbound communication and promotional programs. In addition, Best Buy employees support customers in such areas as finance and delivery.

The Key Areas of Success

The key areas of success are new culture and responsiveness to change. Best Buy operates synergistically and proactively, generating value and affiliation for the customer. Systems allow Best Buy to learn about the needs, problems, expectations, and complaints of its internal and external consumers. They guide the design and modification of products and services. They deliver these products and services to the end customer. Best Buy management provides for information gathering, storage and retrieval, and interchange inside and outside the organization. The customer-centricity helps Best Buy learn about best practices, industry, and the world beyond. Customer Centricity is a disciplined approach to learning from others, and applying that knowledge and insight for development. Customer Centricity supports performance target goal-setting, maintenance or improvement of competitive stance, and a focus of Best Buy resources on proactive, meaningful change (Ingram, et al 31). Best Buy talks about internal communication and listening. Closely related to employee communication are skills enhancement and internal and external staff empowerment. As with interaction, these are areas of challenge for best Buy.

Evaluation of the Strategy

Controls and statistical measures can be used by Best Buy to evaluate effectiveness and efficiency of the new strategy. These measures can involve historical sales comparison, financial analysis and evaluation of customer’s personal surveys and responses. The proposed approach generates calendars and recommended customer contact updates, enabling front-line sales staff to be more proactive and creative. A satisfaction focus equates to innovations, systems, style, staff, strategy, skills, and shared values. Focusing on customer attitudes at Best Buy is reactive, frequently correlating well with potential or actual defection levels. Focusing on customer behavior, or intended behavior, is proactive and necessitates transformations (Fill 41). Similarly, new model is responsible for acquiring new customers. Sales managers, in fact, are often compensated on the size or the number of new customers generated during a given period. Customer service, the group having heavy customer communication, also has a largely reactive relationship with buyers.

Conclusion

The case of best Buy vividly portrays that customer-centricity strategy allows companies to concentrate on a potential buyer and meet his needs and demands. Becoming committed to improving customer loyalty and value, while oriented to positive bottom-line results, leads to innovations and serves to include and involve staff in the company’s objectives. Customer orientation tends to be more gradual, interactive, and lasting. Above all, priorities for improvement at Best Buy are driven by customers. Best Buy seeking to focus on customers can afford traditional hierarchies and bureaucracies. Fiefdoms and decision-making control or information hoarding inhibit communication and cross-functionalism and create barriers to listening and cooperating, improves attention to customers. Customer centricity strategy was a real success to best Buy as it creates a new effective culture and attracts more buyers. The responsibility of staff is to help sales attract new customers and to help other stakeholders, particularly customer service, satisfy current customers.

Works Cited

Best Buy Co. Inc. Case Study. Darden Business Publishing.

Doyle, P., Stern, Ph. Marketing Management and Strategy. Financial Times/Prentice Hall; 4 edition, 2006.

Fill, C. Marketing Communication: Contexts, Contents, and Strategies 2 edn. Upper Saddle River, NJ: Prentice Hall, 2003.

Ingram, et al. Marketing: Principles and Perspectives/ McGraw-Hill/Irwin; 4 Edition, 2003.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Managerial Accounting & Legal Aspects of Business ACC/543
excellent work
Customer 452773, February 7th, 2024
Leadership Studies
excellent job
Customer 452773, July 28th, 2023
Nursing
Impressive writing
Customer 452547, February 6th, 2021
FIN571
excellent work
Customer 452773, March 1st, 2024
Business and administrative studies
looks good thank you
Customer 452773, March 3rd, 2023
Business and administrative studies
great job as always
Customer 452773, February 26th, 2023
Social Work and Human Services
Great work I would love to continue working with this writer thought out the 11 week course.
Customer 452667, May 30th, 2021
Psychology
Thank you!
Customer 452545, February 6th, 2021
Sociology
THANK YOUUUUU
Customer 452591, March 18th, 2021
Nursing
thank you so much
Customer 452749, June 10th, 2021
business
Great job
Customer 452773, February 13th, 2023
Business and administrative studies
excellent work
Customer 452773, March 12th, 2023
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp