Best Buy’s Mohan on the Importance of Exclusive Product Launches
Dealerscope recently spoke with Mike Mohan, president of Best Buy’s Home Business Group, during the launch of LG’s CURVED OLED TV ($14,999) at the Magnolia Design Center in Richfield, Minn. He spoke about the importance of having first dibs on major product launches, marketing and merchandising strategies around new products, and the need for an educated retail sales forces. Here are excerpts from the conversation:
Dealerscope: Best Buy’s Magnolia has an exclusive deal, at least for a couple of months, to be the first retailer in the country to sell LG’s CURVED OLED TV. How important, in terms of overall sales and attracting customers into the stores, is it to have first shot at this?
Mohan: It’s what best buy stands for. We believe what we bring to consumers is a compelling place to shop for consumer electronics. We stand for the latest and greatest. Working with a great partner like LG to get a chance to introduce OLED TV is really important. It’s part of what we’ve been doing over the course of the last few years: to make sure that when new stuff is available we’re out there first, telling consumers about it and creating a great experience in the stores so people can understand what is new about the technology we are showing.