Two Ways: Best Buy Pokes Facebook Users for Marketing Advice
Strengthen your portfolio in good times and bad.
Best Buy (BBY) is asking Internet users for advice on a marketing strategy for the company. This is an extreme example of how the social media environment has changed, according to the Financial Times.
Best Buy is looking for new senior marketing managers who would ramp up "word-of-mouth" marketing via social media platforms like Facebook, Twitter, MySpace, and others.
The company is also looking to the Idea X website as a way to ask users for advice. Marketing chief Barry Judge wrote on his blog last week: "We're hoping for a really robust discussion that perhaps will foster clarity for how to craft these types of roles."
Best Buy shares rallied along with the broader markets. The stock closed up 4%, to $34.12.
From the Bull Pen: Retail bulls can look to Wal-Mart (WMT). Professor Krueger had this to say on the Buzz this morning:
"India welcomes its first Wal-Mart opening today, thanks to a joint venture and red tape finally being cut. How much tape is left and how big is the opportunity? Consider that approximately 97% of retail done in the world's largest democracy is unorganized, mostly mom-and-pop operations."
From the Bear Cave: Retail bears can look to Aeropostale (ARO). Those testing the downside can set a buy stop around $35.50-$36.
Have a good night!
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