Case Study Of Best Buy

Best Buy was founded on technological advancement which at a time when people were not conversant with technology. The company identified this niche and capitalized on helping people with electronics. Consequently, the company realized that consumers were willing to pay in return of technical advice on their equipments. Greek Squad was the technical wing that was and is to date designated to customizing electronic equipments to customer specifications. In this case, technology comes hand in hand with the social aspect of the consumers wanting to keep up with the latest technology.

There is also the growth of customer base with the increase in technology which has enabled the company expand its physical locations. Online Customers have also increased within this time as a result of utilizing modern technologies.

With the advancement of technology and consumer awareness out of access to information, purchasing patterns have greatly evolved with social advancement, economic empowerment and the effects of globalization. Therefore, purchasing patterns are changing among different social groups. For example, many women continue to be economically empowered but do not have the time to take

As mentioned above, social aspect of the market touch on the changing cultural values and attitudes where more people are embracing high quality standards based on their levels of awareness. This helps the company in marketing more modern equipments and minimizes costs related with after sales service. Additionally, many people have improved on their economic situations which have resulted in improved purchasing power. The economic empowerment can be attributed to improved employment levels as well as thriving economies of governments where the company operates. In this regard, the company has continued to experience growth because of the increased customer purchasing