Circuit City History Essay

988 words - 4 pages

Sam Wurtzel first created Circuit City, under the name of Wards Co., on September 13th 1949 in Richmond Virginia. Wurtzel was getting a haircut when he learned that the first commercial television station would be going on air in Richmond, which inspired him to open a store to sell television sets because he knew consumer interest in the new local broadcasts would only increase. In the next ten years this small company expanded itself by acquiring several television and appliance stores throughout the U.S., which included Richmond, Alabama, Washington, New York, and California. In 1960 Wards Co. also expanded its operations into licensed television departments within large department stores, which led the company to offer stocks to the public for the first time. By 1965, Wards had added various acquisitions to its existing portfolio, which included a discount department store that sold automotive and household supplies, home appliances, and clothing as well as a Delaware company that operated household and hardware sales in department stores around the Southeast. Not only did Wards grow increasingly through acquisition, it also grew because of its reputation and commitment to customer service by being one of the first companies to offer a service plan for its TV sets.
The company continued its rapid acquisition strategy through the beginning of the1970’s, but by 1974, Wards began to suffer adverse effects of this of rapid over diversification into such non-core business areas, such the automotive industry, and decided to withdraw itself from all other industries and focus only on consumer electronics and appliances. This led to “The Wards Loading Dock” pioneering venture, which was a forty thousand square foot warehouse in Richmond, Virginia that displayed and sold a vast selection of consumer electronics. This strategic decision led Wards to have competitive advantage against its competitors because of its low prices and services, which included home delivery and in-store repairs. Then in 1977, Wards broadened the selection of electronics in its discount audio equipment stores and transformed them into full-service electronics markets whilst changing the company name to “Circuit City” and expanding them across major cities such as New York. By the 1980’s the company ran one hundred outlets and held the largest market share in the consumer electronics industry. Because of this, Wurtzel decided to divest from its other operations that were not receiving as much revenues, and put these resources towards furthering Circuit City Superstore expansion. As the company’s growth and profits continued to rapidly increase because of the ongoing innovation of consumer electronics, Circuit City only continued to expand into new markets and locations nationwide. The company’s profits had tripled in only three years, driven heavily by consumer demand in VCRS and other television equipment.
By the 1990’s, however, the company had a new growing threat of...

Find Another Essay On Circuit City History

Melbourne the ‘events’ city Essay

1414 words - 6 pages :// [Accessed: 23 Mar 2014]. Ogunseitan, O. A. 2005. Topophilia and the quality of life. Environmental Health Perspectives, 113 (2), pp. 143--148. O'hanlon, S. 2009. The Events City: Sport, Culture, and the Transformation of Inner Melbourne, 1977-2006. Urban History Review/Revue d'histoire urbaine, 37 (2). SportBusiness Group. 2014. Five cities shortlisted for Ultimate Sports City

The Success of Essay

1138 words - 5 pages has subsequently employed to keep itself afloat is to create alliances with other product distributors. For example, recently clinched a deal with the consumer electronics giant Circuit City to sell its products online. Although Circuit City has more than 600 retail stores throughout the country, it was looking for a venue where it could provide the option of online shopping for its customers (Gilligan 2001). Clearly, Circuit

The Functions and Structure of the Legendary Telegraph

2364 words - 10 pages . I had originally done this by testing it with a coil using itself to rotate by its magnetic pulse in which a battery was connected through a series of wires by an open circuit. Most of what I have learned for electromagnetism was not the concept, but the math behind it great, but that too was forgotten. During the course of the project, I hoped to learn whether or not if the telegraph in sort of method could prove useful once again in today’s

News Report of the Chess Match of Anand Aganist Carlsen

828 words - 4 pages India would provide a huge boost to the Chess circuit in India. A plethora of celebratory events were organised before and during the match. “This is the 4th instance in the history of competitive chess that a World Championship is being held in Asia. In a celebratory build up to it, we organised tournaments in public parks, tournaments for the elderly etc. Awareness drives were carried out amongst school children between the age of 7-17 years

A short history of baseball

559 words - 2 pages The history of baseball deeply embedded in the folklore of American sports is the story of baseball's invention by a young West Point cadet, Abner Doubleday, in the summer of 1839 at the village of Cooperstown, New York. Mostly a Northern and Midwestern phenomenon, baseball fever ran highest in the New York City area, where in the 1850s, games were being played "on every available green plot within a ten-mile circuit of the city." Spearheading

A School Board's Control Over Teacher's Book Selections

1073 words - 4 pages wanted “decency and excellence” in the classroom. With this, the school board unanimously voted to terminate Evans-Marshall’s contract. Evans-Marshall filed against the school board saying that they interfered with her First Amendment rights (Lampe, 2010: Pg.1). In this case, the Sixth Circuit court of Ohio sided with the school board of Tipp City Exempted Village School District. This decision was made because the court determined that

ECG Biometric Recognition

2009 words - 8 pages Department of Electrical EngineeringIdentifying humans based on their ecg signalsELE 490 Senior Design IStudent(s) Names & IDsDheeraj Girijavallaban 40951Mohammed Sajjad Islam 37385Supervised byDr. Khaled AssalehSemesterFall 2014 Date Revision Description Author(s) REVISION HISTORYTable of Contents2REVISION HISTORY 3Table of Contents 5List of Figures and Tables 6Glossary 7Executive Summary 81. INTRODUCTION

Biography of Alexander Graham Bell

1527 words - 7 pages invention grew. He attempted to apply sound to telegraphy in a device called the harmonic telegraph. He hoped it would transmit several Morse messages tuned at differing levels over the same circuit simultaneously. While he was working with his device, Bell conceived the principle of the telephone. He told his young mechanical assistant, Thomas A. Watson, ‘If I can get a mechanism which will make a current of electricity vary in intensity as the air

history of water jets

1008 words - 5 pages What is a water jet? A water jet is a machine used in machine shops that can cut wood and metal parts with an extremely high-pressure stream of water. The water jet’s history, current uses, abilities, and even how they affect the environment have grown and changed over the years. In 1853, water jets were used to mine for gold in California. This process is called hydraulic mining, and became popular during the California Gold Rush, and was

The Acient city of Athens Greece. This report is about how the city of Athens originated, how urbanization took place and monuments that arose

1642 words - 7 pages preserved to become one of the largest tourist attractions in the world. This paper will examine the history of this great city, look at some of the main structures that were constructed over its long history.Athens , like most Greek cities originated as a coalescence of separate villages to form a powerful state. The formation of villages to form a city-state called a "Polis" was common in Greece. A Polis usually was a small, agriculture in

The life of Theodore Roosevelt

898 words - 4 pages couldn’t do in a life time. Had become the police commissioner of New York City, as well he was the president of the United States. He overcame his sick and weak body as a kid and became a man everyon could look up to. To me Theodore Roosevelt is an inspirational figure of American history and deserves to be. He has brought the United states to become what it is today. With the help of the other great men and woman that he followed and the future

Similar Essays

An Executive Summary Of Circuit City A Leader In The Industry Of Electonic Retailers

2119 words - 9 pages salaried staff, it still insisted on its full service model by offering a very broad range of selection, the biggest savings, sellers providing professional advice, and in-store repair. This kept Circuit City with high operating costs as well as losing customers. 4. Impact of economy and industry life cycle From the history of Circuit City, it’s obvious that economy and the industry life cycle had an important impact on the company. When the economy

Business Web Site Evaluation: Circuit City

1412 words - 6 pages The company web site that I decided to evaluate is Circuit City. Circuit City is a retail store that offers a wide selection of brand-name consumer electronics, personal computers, software, movies, music, and games. It is a major competitor in the electronics market with its brick and mortar stores and uses the website to continue to push online sales. Circuit City's Web site,, provides potential customers with extensive

Domestic Solar Water Heating Essay

1792 words - 8 pages in a cold region whereas Australia is in one of the warmest regions of the world. [6] Figure 2 yearly sun of the world   History of Products The first solar water heaters dated back to the nineteenth century and consisted of tanks filled with water and painted lack. This was very inefficient as even on very clear hot days; it would take from morning to the early afternoon for the water to get hot. Also, a big draw back on this method was that

The Medieval Walls And Gates Of Canterbury

2109 words - 9 pages A presentation given on the 9th of January 2014 as a part of the SF/JS Field Trip As modern day pilgrims to the ancient city of Canterbury can attest, the walls of this epicentre of British history remain quite formidable despite their age and contemporary importance. While many centres around the English southeast were constructed with large circuit defences, such as Rochester and Winchester, the extent to which Canterbury’s defensive circuits