You work at BestBuy. Your job is to sell a customer something. Former student and BestBuy...

Transcribed Image Text:

You work at BestBuy. Your job is to sell a customer something. Former student and BestBuy manager Asad Ali will be playing the role of a customer. You are free to try and sell whatever you want, as long as BestBuy sells it. I suggest you pick item(s) with which you have some familiarity or at least can learn about. I also suggest you do some research on what BestBuy has to offer. The best sale will be one that is high on profit margin, and increases the chance of repeat business. 1) Profit is a function of the total amount of the item(s) sold. However, of the kinds of things you could sell (e.g., accessories, hardware, services, etc.) there are different profit margins. Here are the descriptions of categories of items with margins from highest to lowest: a. Services - anything labor or warranty type plans provided by BetsBuy (e.g., Protection Plans, Installation, Geek Squad) b. Accessories - small ticket items that work with hardware (cables, stands, screen cleaners, surge protectors, etc.) c. Media providers - things that hook you to external media services (DirectTV, Comcast, Wireless services) d. Media players - devices that play entertainment media (blu-ray players, game consoles, ipods, DVD players) e. Hardware big ticket times such as TVs, Home Theater systems, Appliances 2) The chance of repeat business is harder to determine, but basically you want to find reasons for the customer to return and at the very least have them leave having had a pleasant experience. One of the thing you need to think about to effectively navigate the sale is what the customer wants. Customers tend to fall into categories, and so knowing these can help you figure out what the leverage points should be to persuade customers to buy, and what will make them into repeat customers. Larry: Mid aged 30-45, well off financially. Wants and expects the best in terms or service and technology. Has money, so less price sensitive, very status sensitive. Jill: Mid aged 30-45, well off financially, married to Larry. Not interested in technology as much as she is services; expects high level of service. Does not like shopping at Best Buy, prefers to get in and out of store ASAP. Doesn't mind spending money as long as she sees the value. Bud: Younger, age 18-30, has less discretionary income. Technologically savvy, likes technology, and interested in the latest thing. Enjoys shopping at Best Buy, mostly for products. Questions the need for services or "advice", because he can do things on his own and knows how to research products. Kerry: Younger, age 18-30, has less discretionary income. Enjoys shopping and feels empowered. Likes feeling like she received a "good" deal. Prefers picking out own merchandise, but accepts guidance Does research for comparative shopping for large purchases. Stewart: Older (40-55), income ranges. Likes to try and keep up with certain new technologies but can feel overwhelmed. Likes guidance and advice, generally trusts Bet Buy, but wants to be treated with more respect than the average customer (probably due to age).Not knowledgeable about latest innovations. Prefers to take his time so can understand what he is buying. Henrietta: Older (40-55), income ranges. Only shops for big purchases with Steve. If by herself, usually buying gifts. Needs a personal shopper experience, wants to understand what she is buying. Prefers to take time to think about purchase. Has limited ability to use technology that is not plug and play What tactics will you use if your first options are not successful? Why? What tactics do you think the other party will use? What else do you think will be important in this negotiation? History between the parties? Negotiation mistakes? Resource or time constraints? Culture? etc etc etc... Anything else you want to add, ask, or had thought about? You work at BestBuy. Your job is to sell a customer something. Former student and BestBuy manager Asad Ali will be playing the role of a customer. You are free to try and sell whatever you want, as long as BestBuy sells it. I suggest you pick item(s) with which you have some familiarity or at least can learn about. I also suggest you do some research on what BestBuy has to offer. The best sale will be one that is high on profit margin, and increases the chance of repeat business. 1) Profit is a function of the total amount of the item(s) sold. However, of the kinds of things you could sell (e.g., accessories, hardware, services, etc.) there are different profit margins. Here are the descriptions of categories of items with margins from highest to lowest: a. Services - anything labor or warranty type plans provided by BetsBuy (e.g., Protection Plans, Installation, Geek Squad) b. Accessories - small ticket items that work with hardware (cables, stands, screen cleaners, surge protectors, etc.) c. Media providers - things that hook you to external media services (DirectTV, Comcast, Wireless services) d. Media players - devices that play entertainment media (blu-ray players, game consoles, ipods, DVD players) e. Hardware big ticket times such as TVs, Home Theater systems, Appliances 2) The chance of repeat business is harder to determine, but basically you want to find reasons for the customer to return and at the very least have them leave having had a pleasant experience. One of the thing you need to think about to effectively navigate the sale is what the customer wants. Customers tend to fall into categories, and so knowing these can help you figure out what the leverage points should be to persuade customers to buy, and what will make them into repeat customers. Larry: Mid aged 30-45, well off financially. Wants and expects the best in terms or service and technology. Has money, so less price sensitive, very status sensitive. Jill: Mid aged 30-45, well off financially, married to Larry. Not interested in technology as much as she is services; expects high level of service. Does not like shopping at Best Buy, prefers to get in and out of store ASAP. Doesn't mind spending money as long as she sees the value. Bud: Younger, age 18-30, has less discretionary income. Technologically savvy, likes technology, and interested in the latest thing. Enjoys shopping at Best Buy, mostly for products. Questions the need for services or "advice", because he can do things on his own and knows how to research products. Kerry: Younger, age 18-30, has less discretionary income. Enjoys shopping and feels empowered. Likes feeling like she received a "good" deal. Prefers picking out own merchandise, but accepts guidance Does research for comparative shopping for large purchases. Stewart: Older (40-55), income ranges. Likes to try and keep up with certain new technologies but can feel overwhelmed. Likes guidance and advice, generally trusts Bet Buy, but wants to be treated with more respect than the average customer (probably due to age).Not knowledgeable about latest innovations. Prefers to take his time so can understand what he is buying. Henrietta: Older (40-55), income ranges. Only shops for big purchases with Steve. If by herself, usually buying gifts. Needs a personal shopper experience, wants to understand what she is buying. Prefers to take time to think about purchase. Has limited ability to use technology that is not plug and play What tactics will you use if your first options are not successful? Why? What tactics do you think the other party will use? What else do you think will be important in this negotiation? History between the parties? Negotiation mistakes? Resource or time constraints? Culture? etc etc etc... Anything else you want to add, ask, or had thought about?