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Online shopping
Marketing strategy of best buy
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Electronics websites are a strange beast at least in the way they advertise online. A majority of electronics companies choose to specialize in only a few products. Many also choose not to advertise on social media at all like in the case of Apple, and instead focus on the customer being able to find what they want or need offering advice and assistance in order to push a sale. Electronics stores also make sales on products through sponsors or reviews. My choice for a high-end website is Central Computers, my medium-end website is Best Buy, and my low-end website is Wal-Mart. The website I chose for my high-end selection was Best Buy. With the services they provide and the high-end products they offer Best Buy has the largest selection of these products and a large amount of stores throughout the world. Best Buy’s personal website is sleek and easy to navigate. Best Buy also offers their Geek Squad repair and installation service. In which they provide set up, virus removal, and protection plans for a variety of devices. Best Buy’s Twitter page has a large following and appears to be active with its community. Best Buy posts about new products as well as sales and discount opportunities. Best Buy’s Facebook page has a handle on their promotional posts and responses with customers. They post …show more content…
As I stated in my clothing essay Walmart.com is a very busy and unorganized site, once again not unbearable but, it is very pushy with the amount of products and ads on the site. Walmart’s Instagram page features very few electronics advertisements but this is to be expected since they are a department store and electronics are not their primary focus. Wal-Mart’s Facebook page shows that they respect their customers, with quick replies to customer problems and posts about donations. Wal-Mart’s Twitter page has little to do with their sale of electronics, but they have been posting a lot about charity events and other
Within an excerpt from, “The United States of Wal-Mart,” John Dicker explains that Wal-Mart is a troubling corporation. Dicker begins his article by discussing why the store is so popular within the news in an age of global terrorism, coming to the conclusion that Wal-Mart has a huge scope in the United States and that it has more scandals, lawsuits, and stories than any other supercenter. Continually, he goes on to explain that Wal-Mart outsources jobs and their companies demands makes it hard for employees to have livable wages and good working conditions. Furthermore, Dicker addresses the claim that Wal-Mart provides good jobs, by destroying this perception with statistics showing how employees live in poverty and that their union scene
This nationally recognized mass merchandiser that stood as Kohl’s other leading adversary in the market has everyday low prices that were able to compete with Kohl’s promotional events. Wal-Mart also outdid their competition when it came to number of store locations around the country. The weaknesses of this reputable company come to light when shoppers are looking to buy clothes and are not presented with nearly the selection that the department store can offer. Also, their service is not considered to be as helpful as the department stores that can input more expertise when trying on
Quinn, Bill. How Walmart Is Destroying America (and the world), And What You Can Do About It. Third Edition. Ten Speed Press, 2005. Print.
In a second attempt to further expand the company horizons, an e-commerce site was created. This site is interesting because its main focus is not the clothing but the “lifestyle”. Upon entering the Abercrombie and Fitch website, the first thing the consumer sees is a half naked man, sprawled on the ground, eating a plate full of fruit. It is just to be inferred that he is wearing Abercrombie and Fitch clothing. This just shows how the image of Abercrombie is much more important than the clothing itself. The site itself is bright and summery. The attitude is carefree, active and sexy. Maneuvering ones way around this website is relatively easy. The links include Lifestyle, A&F TV, A&F Quarterly (the magazine/catalogue), Company, and Shop A&F. Other links include, music, movies, downloads, postcards, photos, and “hot” sites. The website seems to be almost completely focused on drawing the consumer into the lifestyle of Abercrombie and Fitch. The information the company gives is very limited. For example, throughout the entire website, there is not one mention of a company mission statement, yet there is a plethora of information about the company’s financial standings.
But Wal-Mart’s care for us goes beyond that simple relationship. As many of us have seen if we have been to a Wal-Mart, they hire people who normally would not be able to get a job. The company knows that by broadcasting itself as positive and helpful in nature it can increase its revenue and in turn increase the amount of assistance it provides to us the consumer. “In 2004 Wal-Mart donated over $170 million. More than 90 percent of these donations went to charities in the communities served by Wal-Mart stores.’ Even more heartfelt than this, Wal-Mart was the leader in goods based relief efforts for victims of hurricane Katrina. “Walmart’s response to the hurricane was lauded even by its critics: it donated more than $20 million worth of merchandise, including food for 100,000 meals, and it promised jobs for all of its displaced workers.” And the first supply truck to arrive at the superdome was a Wal-Mart truck.
A prior market firm used by Wal-mart (GSD&M) warned Wal-mart of the public image issues they were facing and had not addressed, even though they had been advised of them for over two years. GSD&M wrote in one review to the company that “sadly, after two years of empty rhetoric and ineffective publicity stunts, we now know that Wal-Mart has not only needlessly hurt its Associates and their families, but has pointlessly hurt the image and success that Sam Walton built.” (wakeupWalMart.com, 2007). Wal-mart has acted in a manner that blends with the theory of egoism. This theory “sets as its goal the benefit, pleasure, or greatest good of the oneself alone.” (wofford.edu, 1997). “Egoist use personal advantage…as the standard for measuring an action’s rightness.” (Shaw, 2008, p. 45). Clearly Wal-mart today is acting with interests geared toward their personal advantage and not considering the wreckage it is leaving all around them.
Analyzing Wal-Mart's annual report provides a positive outlook on Wal-Mart's financial health. Given the specific ratios and its comparison to other companies in the same industry, Wal-Mart is leading and more than likely continue its dominance. Though Wal-Mart did not lead in all numbers, its leadership and strong presence of the market cements the ongoing success. The review of the current ratio, quick ratio, inventory turnover ratio, debt ratio, net profit margin ratio, ROI, ROE, and P/E ratio all indicate an upbeat future for the company. The current ratio, which is defined as current assets divided by current liabilities, is a measure of how much liabilities a company has compared to its assets. Wal-Mart in the year of 2007 had a current ratio of .90, and as of January 2008 it had a current ratio of .81. The quick ratio, which is defined as current assets minus inventory divided by current liabilities, is a measure of a company's ability pay short term obligations. Wal-Mart in the year of 2007 had a quick ratio of .25, and as of January 2008 it had a ratio of .21. Both the current ratio and quick ratio are a measure of liquidity. Wal-Mart is not as liquid as its competitors such as Costco or Family Dollar Stores Inc. I believe the reason why Wal-Mart is not too liquid is because they are heavily investing their profits for expansion and growth. Management claims in their financial report that holding their liquid reserves in other currencies have helped Wal-Mart hedge against inflationary pressures of the US dollar. The next ratio to look at is the inventory ratio which is defined as the cost of sales divided by average inventory. In the year of 2007, Wal-Mart’s inventory ratio was 7.68, and as of January 2008 it was 7.96. Wal-Mart has a lot of sales therefore it doesn’t have too much a problem of holding too much inventory. Its competitors have similar ratios though they don’t have as much sales as Wal-Mart. Wal-Mart’s ability to sell at lower prices for same quality, gives them the edge against its competition. As of the year 2007, Wal-Mart had a debt ratio of .58, and as of January 2008, it had a debt ratio of .59. The debt ratio is calculated by dividing the total debt by its total assets. Wal-Mart has a lot more assets than it does debt so Wal-Mart is not overleveraged.
Walmart is a company that can be seen from many different perspectives. Due to its vast size; it can be easy to identify its faults and environmental issues surrounding the company. However, they are well aware of these problems and criticisms and have made many efforts towards issues around the world. The motivation and desire Walmart have to improve the world we live in today can be seen through their treatment of employees, suppliers as well as their efforts towards the environment and other humanitarian issues. Given this, there is still endless resources on the web proving the company to be one of a negative burden on society.
Wal-Mart has had a significant economic impact on the US, as well as the economies of countries that have relations with the US. Wal-Mart is the world’s biggest company of any kind, with 80 percent of the households in America purchasing something from the superstore; it is the nation’s largest retailer. Wal-Mart’s continuing price reduction has given Americans the advantage of being able to afford 15 to 20 percent more than they previously could. (Hansen) In a world governed by globalization and greed, competition has become rigid; as a result firms like Wal-Mart have utilized advanced marketing strategies to insure that they are on the ‘neck’ of competition, and are the core deciders of the market. (Ortega) However, Wal-Mart made decisions that were of a disadvantage to aspects of the economy, including the depletion on a small scale of Small Town USA.
Large online electronic suppliers. E.g. QED-UK 4. Large online general supplier. E.g. Amazon and Tesco. These Businesses’ compete in many ways.
With the passion for the latest and greatest technological knowledge, and the charisma and devotion towards the youth, Best Buy is sure to continue on the high road to success. Best Buy will be changing and advancing to accommodate the ever-changing field of technology. They are truly a testament to upholding and exceeding their vision statement of “meeting the customer at the intersection of technology and life” (FAQ).
Walmart has had a long-standing presence in America society since the middle of the 20th century, seen as a place to get everything done, Walmart has become a fixation in our society. From grocery shopping, to changing your oil and even filing your annual tax returns, Walmart is always there, everyday. Started by Sam Walton in 1962, it began as a small operation catering to a small Arkansas community. It was started on principles very similar to small local businesses in small towns. Today Walmart has gotten a different, darker reputation. On the surface, Walmart may seem like the solution to everyday issues. Low-income families are attracted to the low prices, and people who work odd hours benefit greatly from the 24 hours a day that many Walmarts are open. Lately, Walmart has also managed to be publicly recognized as a store that sells many of today’s green products, including organic food, environmental conscious cleaning products, as well as, paper products made from recycled paper. However, underneath all this, Walmart has a different side. Exploitation of its workers is widespread amongst Walmarts who do not belong to a union, especially in the United States. Wal...
Wal-Mart has become a staple company in many communities. It is a place where individuals can find most of their needs, and many of their wants. The appeal of Wal-Mart can be found in its slogan, “Always Low Prices.” It is the appeal of low prices during a time of economic recession that entices consumers. What many consumers do not recognize are the means by which Wal-Mart ensures these low prices. The media coverage of Wal-Mart during the recent months has not been favorable towards the company, and with lawsuits pending regarding issues such as low wages, anti-union practices, and sexual discrimination, Wal-Mart provides an avenue for examining media and alternative media depictions of the issues. This analysis will determine the extent to which media sources provide information on Wal-Mart and the allegations, and how this corporation is working to reduce class inequality. The focus will more broadly develop an argument which claims that superclass interests are the driving force behind our media, and therefore our exposure to critique of the system is limited.
The website that has been chosen to be evaluated by me is IKEA’s website. IKEA website is actually one of the profit-making website. The website enables people to choose for their items and make a list before they make a real purchase at the real IKEA store. Basically, IKEA store is a store that provides home furnishing products such as sofas, beds, kitchen stuff, toiletries and some others. And even more, they had a showroom to inspire people to decorate their own house. So, in the website, there is also a preview of the showroom as it will helps for those that did not get a chance to go to the IKEA store.
I think it’s amazing how technology has evolved, even though it is making us lazier. It’s an exciting opportunity for business owners and retailers, by using social media they can really get their business out there for the world to see and build up their reputation. The can hold competitions which also gives the company free advertising. It’s ridiculous how many people have turned to online shopping instead of going outside to buy the items they need or want. I find it to be reliable and since the invention of PayPal, safe. I find it easier to learn by online means by simply typing what you’re searching for, or what you need to find out into google search engine, it’s quicker and easier to do. All your information is at your fingertips! Using online resources to learn is both handy and quick, and with technology today, books will be a thing of the past very soon.