Wednesday, December 9, 2009

Speaking Points

Here are my speaking points today for my presentation in my business class and I thought it would be cool to share it with you guyssss

• Focus marketing and promotions plan on the growing Hispanic consumer market
o Recent research shows that Hispanic adults are more likely to spend on the latest consumer electronic devices even in this economic crisis

o With this trend in mind, Best Buy is strategically reaching out to the Hispanic demographic by offering the Hispanic market a Spanish language shopping experience through

• Spanish online website where consumers can browse, research and compare over 2,000 products, gift cards and service plans

• This website also allows Spanish shoppers with the capability to use a click-to-call feature on their language hotline and speak with bilingual customer service representatives as well as in store representatives

• Best Buy has bilingual signs and advertisements in over 220 stores in America as a part of their mix of specific product promotions and branding

• Dedicated to taking an integrated approach to reach to this emerging market and providing information, products and services that Spanish speaking consumers want

• Targeting highly concentrated Hispanic markets in areas such as Texas, Florida, California, New York and Chicago

o Best Buy is involved in a targeted direct mail and email marketing to reach desired Hispanic markets

• During the holidays Best Buy partnered with MSN Latino and ran an email marketing campaign directed at their list of electronic products

• Also currently mails Spanish offers to Best Buy’s best Hispanic Reward Zone customers

• Discovering unknown needs through customer solutions

o Best Buy has made its goal to effectively communicate with customers to find out needs beyond the initial product that they came into the store for

o Keeping the customers first and communicating with consumers is key in driving sales

• Evolution of selling strategy
o Moved from CARE+ to TRUST
• C-Show care and concern for the customers
• A-Ask questions, interact and listen to customers needs
• R-Make recommends
• E-Encourage customers to purchase
• +-The employee in making the sale
• The CARE+ strategy was more so about driving sales and not enough about the customer
• So Best Buy revamped selling strategy to show more concern for consumers

• Thank you and showing gratitude towards the consumer
• Respect the consumer and their needs
• Understand the consumer and their needs and potential buying power
• Solve together
• Thank you again
o TRUST shows more of an integrated relationship with the customer,
o The main focus is no longer based on products

• Strong customer service
o Doing whatever it takes to take care of the customer
o Following the never say no strategy
o Find alternative solutions for customers instead of turning them away
o Every customer’s business is important

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