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MKT 421 Week 2 Learning Team Assignment Marketing Plan Phase I.

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MARKETING PLAN PHASE I 1
Marketing Plan Phase I
Team
University Of Phoenix
Marketing
MKT/421
Instructor
March 26, 2011

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MARKETING PLAN PHASE I 2
Marketing Plan Phase I
The marketing plan is the key to the success of an organization in today’s business
world. The marketing plan applies the strategies the organization will use to reach their
organizational goals. This marketing plan will give an overview of Best Buy Company, Inc.
and a description of a new product which they plan to develop and sell.
Organizational Overview
In 1966 Richard Schulze opened his first store, which was called the Sound of Music.
In 1983 the company became known as Best Buy and by 1985 it was a publicly-traded
company. This all came about with a vision of “People, Technology. And the pursuit of
happiness” (Best Buy, 2009 - 2015), which is the mission of Best Buy. The employee’s
concentrate their energy on the customers, vendors, and shareholders, because the success of
Best Buy depends on the people. The products and services provide the latest in
technological advances, while the pursuit of happiness is shared within and throughout the
company. After all, the goal is to provide the products and services to meet the customers,
shareholders, and even employee’s needs.
The company began it operation in St. Paul, Minnesota back in 1966. By 2002, Best
Buy had expanded to Canada with the acquisition of Future Shop. Today, the company has
locations in Mexico, China, and nine European countries, with a product line to match.
Though the store started out as an audio component systems retailer, it has grown to include
many products and services. Products range from video equipment, computers, office
furniture, appliances and the list goes on. Services range from excellent customer service, the
geek squad, the buy-back program, trade-in center, appliance delivery, installation, and
repair, service plans, and the use of recycling which is beneficial to us all (Best Buy, 2009 -
2015).
Introduction of the Universe Smartphone

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