Best Buy Inc. is one of the largest electronics retailers in the United States. Best Buy Inc. has been so successful with competitors over the years because the company makes sure to stand out by implementing a differentiation strategy rather than a low price strategy. Best Buy was originally known as Sound of Music Inc. in 1966. The company began as a retailer of video products in the 1980s. Eventually, in 1983, the company decided to change its name to Best Buy Co. Inc. To maintain success, Best Buy has also invested in training sales professionals so they can better understand the products they sell to consumers. Because Best Buy trains their employees so well with knowledge of the products they provide, this makes Best Buy's customer service exceptional. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay In this case study the real question is whether Best Buy Inc. is a sustainable model of customer centricity. After reading the analysis of how the company treats its employees, customers, and other competitors, I believe Best Buy is a perfect model for customer success. During the year Best Buy tried to stay on top by providing customers with exceptional products and services. To better serve customers in 2002, Best Buy decided to acquire Geek Squad. Geek Squad was a service provider to help customers with any computer problem they may have. The convenience of Geek Squad was that they actually came to the customer's home, instead of asking the customer to bring their device to the store. This is just another reason why Best Buy Inc. provides greater customer service than other competitors in the electronic retail industry. Financially, Best Buy Inc. has declining operating margins. While this could be due to rising costs, it is more likely due to pricing pressure. Best Buy's long-term debt increased significantly from 2008 to 2009. The reason this happened is likely due to the acquisition of Napster and Best Buy. It is important for Best Buy to remain competitive in this economy because Walmart is one of their biggest competitors. Another Best Buy competitor, dealing with games and video accessories, would be Game Stop. More recently, Walmart has also investigated the use of cell phones and laptops. Even though Best Buy's selection of laptops, computers, and TVs is better, customers sometimes think Walmart has better prices. Another Best Buy competitor is Amazon.com. Amazon is one of the largest online retailers in our country and seems to be continually expanding. Amazon has an advantage over Best Buy because it is able to maintain a lower cost structure, which ultimately attracts more customers. It is crucial for Best Buy to keep its customers interested for years to come. To increase sales, many retailers have decided to offer private label credit cards to offer their customers promotional financing. This can help increase the company's business because people will be interested in saving money on the large purchases they make. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Overall Best Buy is a company that seeks to provide exceptional services to its customers. It is important for the company to stay ahead of the competition, especially as online retailers have become increasingly popular and convenient in recent years. In recent years, Best Buy Inc. appears to have taken on more long-term debt.