Best Buy, No. 56 on the Fortune 500 list wants your junk. At a Best Buy store located in Roseville, Minn., it has rolled out its take-back program. This program is geared toward service to the community and environment by offering a massive recycling program that allow customers to conviently bring in their old and outdated electrical junk to Best Buy and shop while they are at the store instead of having to travel to a recycle center or just discarding the junk in the trash.
* Retailer – A Channel intermediary that sells mainly to consumers (Chapter 12 Page 125)
* New Product – A product new to the world, the market, the producer, the seller, or ...view middle of the document...
Its customers said they preferred to do business with retailers that cared about the community, so the innovative marketing concept that resonated with its customers was the take-back program which emphasized on green.
Dunn tries to keep up with the social environmental change by staying connected to staff and customers. Dunn posts questions on the Water Cooler, an employee website. He also tracks consumer’s thoughts, ideas and changes on social media’s like Facebook and Twitter. He attends focus groups and invites customers to the company’s leadership meeting in order to keep up with the social trends.
Best Buy reacts to the economic factor of the environment through the buy-back program by giving a $10 gift card to the customer when the customer has to pay a $10 fee to recycle a 32-inch TV or under, CRTs, monitors, and laptops. Best Buy audits the factories of its suppliers, mostly in Asia, to make sure they don’t exploit workers or pollute the environment. It had to disconnect with 26 factories last year out of about 200.
Best Buy is full with creative thinking. Besides its innovative concept of green, The Best Buy retailers in San Francisco, Los Angeles and Portland, Oregon has introduced a new product line. They have begun selling electric motorcycles. If the $12,000 bikes sell well, Best Buy may consider expanding that product line and start selling solar panels, wind turbines and electric...