Assignment on digital marketing geek squad a new business for a new environment

Untitled Nguyễễn Khánh Linh – HS171437 FPT UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION =====000===== ASSIGNMENT ON DIGITAL MARKETING [GEEK SQUAD – A NEW BUSINESS FOR A NEW ENVIRONMENT] Submitted to[.]

FPT UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

=====000=====

ASSIGNMENT

ON DIGITAL MARKETING

[GEEK SQUAD – A NEW BUSINESS FOR A NEW

ENVIRONMENT]

Submitted to:

Lecturer’s Name: Nguyen Thi Hong Hanh

Submitted by:

Student’s Name: Nguyen Khanh Linh

Student ID: HS171437

Course Title: Marketing Principles

Course Code: MKT1701

Date of Submission: 10/02/2022

Hanoi - 02/2022

TABLE OF CONTENTS

INTRODUCTION

REPORT’S CONTENT

A QUESTION 1: WHAT ARE THE KEY ENVIRONMENTAL

FORCES THAT CREATE AN OPPORTUNITY FOR ROBERT

STEPHENS TO START GEEK SQUAD?

B QUESTION 2: WHAT CHANGES IN THE PURCHASING

PATTERNS OF (A) ALL CONSUMERS AND (B) WOMEN MADE THE ACQUISITION OF GEEK SQUAD PARTICULARLY

IMPORTANT FOR BEST BUY?

C QUESTION 3: BASED ON THE CASE INFORMATION AND

WHAT YOU KNOW ABOUT CONSUMER ELECTRONICS,

CONDUCT AN ENVIRONMENTAL SCAN FOR GEEK SQUAD

TO IDENTIFY KEY TRENDS FOR EACH OF THE FIVE

ENVIRONMENTAL FORCES (SOCIAL, ECONOMIC,

TECHNOLOGICAL, COMPETITIVE, AND REGULATORY),

IDENTIFY TRENDS LIKELY TO INFLUENCE GEEK SQUAD IN THE NEAR FUTURE

D.QUESTION 4: WHAT PROMOTIONAL ACTIVITIES WOULD

YOU RECOMMEND TO ENCOURAGE CONSUMERS WHO CURRENTLY USE INDEPENDENT INSTALLERS TO SWITCH TO GEEK SQUAD?

CONCLUSION

REFERENCES

In recent years, the rapid development of technology has

created a lot of technological products But that also makes it difficult for everyone to keep up with changes in technology especially computers, software, and technology The rapid

evolution of technology is creating not only opportunities but challenges as well Robert Stephens once said, “ As long as there is innovation there is going to be new kinds of chaos” Indeed, it will be harder for everyone as more and more new technology products are created Consumers will find it difficult

to operate and install the products And it may take time to read the user manuals So Robert Stephens founded Geek

Squad in 1994 to help the consumers who find it difficult or could not understand to use technology Geek Squad Agents were identified by their badges, black slacks, white shirts,

break-away ties, and trademark GeekMobilesTM, which were all humorous and irreverent The famous orange, black, and white Geek Squad logo became a well-known emblem of tech

assistance in the areas it serviced in a short period Agents drove black and white Volkswagen Beetles, dubbed

Geekmobiles, with a logo on the door and charged

predetermined charges for services, regardless of how long they took to complete With this strategy, Geek Squad became

a huge success And in 2002, Best Buy, a large consumer electronics store, paid $3 million for Geek Squad In 2004, Geek Squad was launched across the United States and

Canada, ultimately extending beyond its computer-related roots

to provide assistance with anything from appliance repairs to the vehicle, home theater, and smart home installs

QUESTION 1 WHAT ARE THE KEY ENVIRONMENTAL

FORCES THAT CREATED AN OPPORTUNITY FOR ROBERT STEPHENS TO START THE GEEK

SQUAD?

There are key factors that created an opportunity for Robert Stephens to start Geek Squad: changes in technology and

inadequate consumer skills Despite the fact that he is a

software engineer, he began his career repairing and installing televisions and computers Meanwhile, he met a lot of

individuals who acquire technological equipment, but only a handful of them utilize them effectively His experiences as a consultant led him to realize that most people needed help with technology The rapid development of technology products such

as computers, software, technology, communication, and

entertainment began changing quickly and very complicated Robert Stephens once said, “ As long as there is innovation there is going to be a new kind of chaos” Indeed, that caused problems for consumers to install, operate, and use many of the electronic products available today Besides, they do not want to spend time reading or could not understand the user manuals I believe that the majority of consumers are unable to set up things purchased in stores, and this provided Robert with

a fantastic chance

QUESTION 2 WHAT CHANGES IN THE PURCHASING PATTERNS OF (A) ALL CONSUMERS AND (B) WOMEN MADE THE ACQUISITION OF GEEK SQUAD PARTICULARLY IMPORTANT FOR

BEST BUY

a All consumers

The purchasing patterns change as new and more complicated technology products became available First, consumers would

be excited about and purchase products that they could install and operate Best Buy had observed very high return rates for most of its complex products because the consumers can not make them work Second, consumers begin to see service as a critical element of the purchase, many of them needed help with viruses, spyware, lost data, and crashed or inoperable computers They also care about types of maintenance such as password management, operating system updates A decrease

of return rates by 25%-35% of their products

b Women

In the past, many electronic manufacturers and retailers

primarily focused on men Women’s purchasing patterns also changed as they become more and more interested in personal computing and home entertainment Women expected

personal service and installation after the purchase Consumer Electronics Association expected this trend to continue and predict that expenditures by women will exceed expenditures

by men in the near future They also demand personalized treatment during the purchasing process and beyond As a result, the Geek Squad was critical for Best Buy in delivering the services that customers sought and deserved

QUESTION 3 BASED ON THE CASE INFORMATION AND WHAT YOU KNOW ABOUT CONSUMER

ELECTRONICS, CONDUCT AN ENVIRONMENT

SCAN FOR GEEK SQUAD TO IDENTIFY KEY

TRENDS FOR EACH OF THE FIVE

ENVIRONMENTAL FORCES ( SOCIAL,

ECONOMICS, TECHNOLOGICAL,

COMPETITIVE, AND REGULATORY), IDENTIFY TRENDS LIKELY TO INFLUENCE GEEK SQUAD

IN THE NEAR FUTURE

There are so many trends likely to influence Geek Squad in the near future The first thing to manipulate the Geek Squad is social Trends show that women will outspend men due to an increase in interest in electronic products From internet access

to internet speeds, the customer is the one driving technology

to go forward in every aspect of their lives When there are so many consumers who purchase the electronics products out there, excellent customer service is becoming increasingly in demand This is a good thing for the Geek Squad since when a computer breaks down or becomes contaminated with a virus,

it needs to be fixed right away We are more open to trying new things and having new experiences, including with technology The more individuals who explore technology, the more people will require assistance with it

Of course, economic forces will have an impact on Geek Squad,

as they would on all other enterprises It makes no difference how wonderful service is if people cannot afford to utilize it Nowadays, Computers, communication, and entertainment technologies account for a growing amount of discretionary spending Certain microeconomic developments, such as a growth in female consumer spending and a decrease in the cost

of electrical items, should have a beneficial impact on the Geek Squad

In the near future, technological factors will most likely have the greatest impact on Geek Squad Everyone’s lives have

gotten intertwined with the internet The more technology products are launched, the more complex most electronics products are There are rapid changes in the electronic product features, standards, and capabilities

Businesses are challenged to be on top of their game when it comes to addressing customer expectations by competitive pressures Consumers are eager to turn elsewhere if their

requirements are not addressed More and more channels are springing up such as discount stores, online stores And also a growing range of technical support services are available such

as Walmart and Office Depot’s Tech Depot To set themselves apart from the competition, the competition provides new ideas and upgrades to their service

Any firm or organization's marketing and larger business

decisions are influenced by regulatory factors Regulation is a set of rules that businesses must follow in order to protect themselves and their customers, as well as to maintain fair business practices The regulatory environment for intellectual items like movies, music, and software is always changing Geek Squad is responsible for keeping track of these

developments and ensuring that its services comply with

current legislation

QUESTION 4 WHAT PROMOTIONAL ACTIVITIES WOULD YOU RECOMMEND TO ENCOURAGE

CONSUMERS WHO CURRENTLY USE

INDEPENDENT INSTALLERS TO SWITCH TO

GEEK SQUAD ?

Geek Squad has had tremendous success, but there are still opportunities for them to expand as a business and entice new customers to use their services To do that, the company needs

to expand its business market, then more and more people will become aware of the company It expands market coverage by attracting new clients to the brand In addition, the company should also use social networking using social media to raise public awareness such as Facebook, Twitter Nowadays, social networking is very developed so it is not difficult for people to see the advertisements appearing on their newsfeed, Discounts and promotions should also be promoted to the followers They should also put ads on the online marketing campaign like Youtube because every day millions of people watch videos so the company’s ads are very easy to see Therefore, the

percentage of customers who want to use Geek squad's

services will increase significantly Besides, the company

should also offer advertising contracts for celebrities As

everyone knows, celebrities have great influence globally, if fans know their idol has a Geek Squad advertising contract, they will consider using the company's services to support their idols

It can be said that today's technological equipment industry is growing, leading to the essential needs of customers And there are also many electronic products that have been launched on the market That also makes it difficult for buyers to install and use technological equipment So Geek Squad plays an

important role in providing diagnoses issues in and repairs all consumer electronics, as well as appliances Geek Squad has adequate resources to continue operations The firm has

created a large base of consumers and can generate bigger profits thanks to its presence in the United States, the United Kingdom, and other regions

https://www.slideshare.net/lolipopicock/geek-squad-completed

https://www.managementstudyguide.com/brand-extension.htm

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