I. Executive Summary

Having enjoyed periods of significant growth within the core US market it has been determined that the next step for Best Buy as an organization is to expand and enlarge its core operations by moving into additional markets with Spain having been identified as the most appropriate market in which expansion should be targeted.

As the below Financial indicators illustrate for an average US store there is considerable year-on- year growth being experienced, and it is felt that this could be delivered equally across additional markets.

II. Description of Business

The core business provides electronic items, including a variety of appliances, computers, cell phones and related equipment. Given the interest and increasing innovation of technologies there is a likely continued growth to be experienced for stores demonstrating the right mix of product and price to as wide a range of consumers as possible.

Location Spain will serve as the introduction to the European market for Best Buy and why the core business model will be unchanged from the successfully US model there are several areas that needs to be considered accordingly.

One of the most fundamental issues involved with developing a new business project in a foreign country will consist of the significant differences which may exist for a target market when compared to a known and existing market for example. These can consist not only of linguistic differences and the overall language barrier but also differences in the way in which culture is organized particularly.

The Spanish language is an obvious issue but one which should not prove to be overly problematic as all locally recruited personnel would be able to understand and converse in Spanish. There may be the need to develop and add additional personnel at other Best Buy sites to be able to provide operational support on logistics manners in Spanish for example.

There are numerous locations which could be selected in Spain but it makes strategic sense to position the new shop in the capital Madrid which is roughly central to the country itself. Although the capital city represents an effective location one of the additional features of doing business in Spain relates to the increased colloquial and parochial aspects which exists in terms of local businesses and regions.

Every effort should be taken to ensure that communications do not mark out Best Buy as an overtly U.S. organization seeking to combat and better existing Spanish organizations but as an organization which supports the Spanish economy and is making a significant effort in the immediate locality of Madrid while also understanding the feelings of other prominent regions such as those in Catalyuna.

In any marketing or promotional information that is used in such areas, the prominence of Madrid should for example be downplayed in this context to avoid increasing the tension between these regions and implementing Best Buy as one of the significant factors.

From a commercial point of view there should be no issue with implementing a successful Best Buy store in Spain so long as the cultural and language issues are respected accordingly. However, these are not isolated solely to Spain but would be considered as part of any plan for expanding a successful operation abroad. III. References

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