Essays on Non-price Competitive Strategy, Best Buy Stage in Life Cycle Case Study

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The paper 'Non-price Competitive Strategy, Best Buy Stage in Life Cycle" is a good example of a management case study. Non-price competitive strategy is a mechanism in which a company puts marketing measures aimed at distinguishing its products from those of the competitors. Many strategies form the basis of a non-pricing competitive strategy (Clay et al, 2002). The non-pricing competitive strategy is based on the idea of persuading the customer to buy a product, not because of the cheaper selling price but because they are better than the competitor's products bases on different attributes.

An example of the non -pricing strategy entails changes in design. Common non-pricing competitive strategies include branding, advertising, packaging, service and information. Other strategies employed by the company’ s extensive distribution networks focus on customer needs and other measures that do not rely on price (Clay et al, 2002). Best Buy Best Buy sells different electronic gadgets, music, computers, mobile phones and other household appliances. To sell products to ultimate customers, Best Buy's main segmentation has been geographical segmentation in which it has put branded retail stores in different countries and the use online selling Consumers differ in preferences and purchasing abilities.

Through market segmentation, a business is in a position to define its target market and identify the needs of the customers (Ghodeswar, 2008). Through the understanding of the customers, a company is in a position to devise a strategy that is supposed to deliver the product or service to the customer. To overcome competition Best Buy's main competitive advantage has mainly been on the service provision (Cruz, 2002). The use of retail stores is a strategy that helps n taking services nearer to the customers and thus offers after-sale services to its customers. To gain a competitive edge, Best Buy prides itself on the provision of after-sale services to customers.

On purchase of a product from the company, Best Buy offers technical support, extends maintenance and installation. In addition to the technical support, it also offers services in mobile phone subscriptions and internet services.  

References

Bivainiene, L. (2010). Brand life cycle: Theoretical discourses. Economics and Management 15(1), pp. 408-415.

Clay, K., Krishnan, R., Wolff, E and Fernandez, D. (2002). Retail strategies on the web: Price and non price competition in the online book industry. The Journal of Industrial Economics, 50 (3), pp. 351-367.

Cruz, S. 2002. Best Buy and Greek Squad join forces: Retailer to offer in home support. Star Tribune.

Ghodeswar, M. (2008). Building brand identity in competitive markets: A conceptual model. Journal of Product and Brand Management, 17(1), pp. 4-12.

Kotler, P., Keller, K., Brady, M., Goodman, M. and Hansen, T. (2009). Marketing management. London: Pearson Education.

Porter, M. E. (2008). The five competitive strategies that shape strategy. Harvard Business Review.

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