Expert answer:Elements a Marketing Plan, marketing homework
Answer & Explanation:Elements of a Marketing Plan PaperReview the video case study “Geek Squad: A New Business for a New Environment” on pp. 88-89 in your textbook. Keep this case study in mind as you complete this assignment. Write a 700- to 1,050-word paper using your company or one with which you are familiar (if you prefer, your facilitator can assign one to you). Answer the following questions for your chosen organization.In your opinion, what are the specific key environmental forces that created an opportunity for your company?Have there been changes in the purchasing patterns of your organization’s target market in recent years?Conduct an environmental scan for your chosen company to identify key trends. For each of the five environmental forces (social, economic, technological, competitive, and regulatory), identify trends likely to influence your company’s marketing efforts and product offering in the future.What differentiation strategy should your company undertake to encourage their target market to choose them over other competitors? In your analysis, what lessons might you learn from the Geek Squad case study?What recommendations can you offer up to Geek Squad?Include at least three references, at least one of which must come from the University Library.Format your paper consistent with APA guidelines.Click the Assignment Files tab to submit your assignment.Companies that I’m familiar with: Walmart, Apple, or General Motors..Also the video case study is attached, this is from the textbook.I know I have two days and that would make it around 10:00pm Sunday.. I would like it Sunday like around 3:00pm … if possible. (central time).geek_squad.docx
geek_squad.docx
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Geek Squad: A New Business for a New Environment
“As long as there’s innovation there is going to be new kinds of chaos,” explains Robert
Stephens, founder of the technology support company Geek Squad. The chaos Stephens
is referring to is the difficulty we have all experienced trying to keep up with the many
changes in our environment, particularly those related to computers, technology,
software, communication, and entertainment. Generally, consumers have found it
difficult to install, operate, and use many of the electronic products available today. “It
takes time to read the manuals,” Stephens says. “I’m going to save you that time because
I stay home on Saturday nights and read them for you!”
THE COMPANY
The Geek Squad story begins when Stephens, a native of Chicago, passed up an Art
Institute scholarship to pursue a degree in computer science. While Stephens was a
computer science student he took a job fixing computers for a research laboratory, and
he also started consulting. He could repair televisions, computers, and a variety of other
items, although he decided to focus on computers. His experiences as a consultant led
him to realize that most people needed help with technology and that they saw value in
a service whose employees would show up at a specified time, be friendly, use
understandable language, and solve the problem. So, with just $200, Stephens formed
Geek Squad in 1994.
Geek Squad set out to provide timely and effective help with all computing needs
regardless of the make, model, or place of purchase. Geek Squad employees were called
“agents” and wore uniforms consisting of black pants or skirts, black shoes, white shirts,
black clip-on ties, a badge, and a black jacket with a Geek Squad logo to create a
“humble” attitude that was not threatening to customers. Agents drove black-and-white
Volkswagen Beetles, or Geekmobiles, with a logo on the door, and charged fixed prices
for services, regardless of how much time was required to provide the service. The
“house call” services ranged from installing networks, to debugging a computer, to
setting up an entertainment system, and cost from $100 to $300. “We’re like ‘Dragnet’;
we show up at people’s homes and help,” Stephens says. “We’re also
like Ghostbusters and there’s a pseudogovernment feel to it like Men in Black”
In 2002, Geek Squad was purchased by leading consumer electronics retailer Best
Buy for about $3 million. Best Buy had observed very high return rates for most of its
complex products. Shoppers would be excited about new products, purchase them and
take them home, get frustrated trying to make them actually work, and then return them
to the store demanding a refund. In fact, Best Buy research revealed that consumers
were beginning to see service as a critical element of the purchase. The partnership was
an excellent match. Best Buy consumers welcomed the help. Stephens became Geek
Squad’s chief inspector and a Best Buy vice president and began putting a Geek Squad
“precinct” in every Best Buy store, creating some stand-alone Geek Squad Stores, and
providing 24-hour telephone support. There are now more than 20,000 agents in the
United States, Canada, the United Kingdom, and China, and return rates have declined
by 25 to 35 percent. Geek Squad service plans are also being sold on eBay and in some
Target stores. The Geek Squad website proclaims that the company is “Serving the
Public, Policing Technology and Protecting the World.”
THE CHANGING ENVIRONMENT
Many changes in the environment occurred to create the need for Geek Squad’s
services. Future changes are also likely to change the way Geek Squad operates. An
environmental scan helps illustrate the changes.
The most obvious changes may be related to technology. Wireless broadband
technology, high-definition televisions, products with Internet interfaces, and a general
trend toward computers, smartphones, entertainment systems, and even appliances
being interconnected are just a few examples of new products and applications for
consumers to learn about. There are also technology-related problems such as viruses,
spyware, lost data, and “crashed” or inoperable computers. New technologies have also
created a demand for new types of maintenance such as password management,
operating system updates, disk cleanup, and “defragging.”
Page 89
Another environmental change that contributes to the popularity of Geek Squad is
the change in social factors such as demographics and culture. In the past many
electronics manufacturers and retailers focused primarily on men. Women, however,
are becoming increasingly interested in personal computing and home entertainment
and, according to the Consumer Electronics Association, are likely to outspend men in
the near future. Best Buy’s consumer research indicates that women expect personal
service during the purchase as well as during the installation after the purchase—exactly
the service Geek Squad is designed to provide. Our culture is also embracing the Geek
Squad concept. For example, in the recently discontinued television
series Chuck (2007–2012), one of the characters worked for the “Nerd Herd” at “Buy
More” and drove a car like a Geekmobile on service calls!
Competition, economics, and the regulatory environment have also had a big
influence on Geek Squad. As discount stores such as Walmart and PC makers such as
Dell began to compete with Best Buy, new services such as inhome installation were
needed to create value for customers. Now, just as change in competition created an
opportunity for Geek Squad, it is also leading to another level of competition as Staples
has introduced EasyTech services and Office Depot has introduced Tech Depot
services. The economic situation for electronics continues to improve as prices decline
and demand increases. Consumers purchased 2 million 3D TVs in 2010, and sales of
all consumer electronics exceeded $180 billion. Finally, the regulatory environment
continues to change with respect to the electronic transfer of copyrighted materials such
as music and movies and software. Geek Squad must monitor the changes to ensure that
its services comply with relevant laws.
THE FUTURE FOR GEEK SQUAD
The combination of many positive environmental factors helps explain the
extraordinary success of Geek Squad. Today, it repairs more than 3,000 PCs a day and
generates more than $2 billion in revenue. Because Geek Squad services have a high
profit margin they contribute to the overall performance of Best Buy, and they help
generate traffic in the store and create store loyalty. To continue to grow, however,
Geek Squad will need to continue to scan the environment and try new approaches to
creating customer value.
One possible new approach is to create new partnerships. Geek Squad and Ford, for
example, have developed a partnership to help consumers install in-car communication
systems. In the future, Best Buy will offer 240-volt home charging stations for Ford’s
electric vehicle, the Focus. Geek Squad will offer electrical audits and residential
installations for the car owners. Geek Squad is also using new technology to improve.
Agents now use a smartphone to access updated schedules, log in their hours, and run
diagnostics tests on clients’ equipment. Best Buy is also testing a “Solutions Central”
desk, similar to the Genius Bar concept in Apple stores, and staffing it with Geek Squad
agents. Finally, to attract the best possible employees, Geek Squad and Best Buy are
trying a “results-only work environment” that has no fixed schedules and no mandatory
meetings. By encouraging employees to make their own work-life decisions, the Geek
Squad hopes to keep morale and productivity high.
Other changes and opportunities are certain to appear soon. However, despite the
success of the Geek Squad and the potential for additional growth, Robert Stephens is
modest and claims, “Geeks may inherit the Earth, but they have no desire to rule it!”
…
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