https://spark.adobe.com/video/EzDwjdGa0dYJ3
Implement a discount on Geek Squad services to Best Buy's current membership program
Current Rewards Program
Three basic levels of membership
- My Best Buy
- Best Buy Elite
- Best Buy Elite Plus
Exact implementation...
10%, 20%, 30%
Benefits
Strengths
- Geek Squad owning majority market share for electronic repair
- 5.93 inventory turnover
Weaknesses
- Loss of sales of $1 billion over the past two years
- $52 million cash decrease
Opportunities
- Decrease in long-term liabilities
- stable sales drop of $1.5 billion from 2015 to 2017
Threats
- Apple having 39.1% of the market share of the computer store industry
- Total asset turnover of 2.84 compared to the industry average of 3.4
Kotter Change Movement Urgency
- Urgency: Improve customer traffic
- Guiding Coalition: Marketing team
- Strategic Vision: Improve Geek Squad's revenue stream
- Volunteer Army: Best Buy Employees
- Action to Remove Barriers: Pushing memberships to counteract initial loss from discount
- Short-term lens: Loss of profit
- Sustain acceleration: Pushing for membership through Geek Squad rewards
- Institute Change: Best Buy marketing management
Implementing this discount would increase Best Buy-customer relationship and would be able to increase profit without the cost of corporate restructuring.
Page Sources
http://donthatethegeek.com/geek-squad-agent-accused-searching-computers-fbi/http://minnesota.cbslocal.com/tag/geek-squad/
https://www.technobuffalo.com/2012/03/29/best-buy-to-cut-400-jobs-close-50-stores/
http://segmentnext.com/2014/08/11/elgato-game-capture-hd60-leaked-via-best-buy-ad-priced-at-179/
https://sibatmedia.wordpress.com/category/technology/page/2/