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Marketing and Financial Plans of River Rocks Books Store - Research Paper Example

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The company that is the subject of this research is River Rocks Books Store is a mid-size retailer of books dealing with both print and electronic books. The company operates in the UK through 47 branches located in major cities and at main train terminuses and airports…
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Download file to see previous pages This paper is showing the strengths and weaknesses of the company in the market place. It shows the capability of the company and also shows the attractiveness of the market. In the market analysis, the consultant is going to use both qualitative and quantitative assessment of the market. This is in term of both values and volume of the market. Various aspects of the market analysis involve analyzing the customers and their consumer behavior, competition, barriers to entry, and exit from the market. This section serves to show the investors about the market and the ability of the market to foster and sustain the long-term business. The book retail market is recovering from a period of below-potential growth (Greco, 2013). The low market growth yields fierce competition in the industry. The low price strategy and home delivery by online bookstores further compounds competition. They threaten the survival of physical bookstores and many stores are reported to have closed shops during this period. Having come from a troubled economic time the industry is starting to show impressive trends. Those companies that had good strategies are coming out even stronger and new businesses are being started in the industry. Some established online giants are changing their operations and infusing recommendable changes in their strategy. For example, Amazon, a key player in the online books business, is considering opening close to 400 physical stores. This is informed by changes in the market. In addition, small-sized private bookshops continue to struggle to survive in difficult situations. Borders, the largest bookstore, closed all its branches and filed for bankruptcy in 2011. This was due to low profits and low revenues that could hardly cover operation costs. The larger players in the industry have strong bargaining power. This is mainly due to their ability to own distribution channels and thus by-pass middlemen. Small companies lack this capability. Due to the company’s management connections within the country and abroad, we have an excellent feel for the area and the core customer groups (Freeman, 2010). They will all share something alike, which will be a feeling of belonging and owning the success of the company. Although the branches are different from a small connection with each other, they are going to complement one another. We do plan to continue reducing our prices as the company grows and charge a premium for the feeling to belong to the company. The following curves represent our projected price levels. The books industry is a large market with so many players. Many of them offer products in print form although there have been notable competition from e-books. The market has had its own fair share of challenges and this affected a number of businesses with some of them filing for bankruptcy. This is due to the ever-increasing competition in the books industry. Those businesses that are not responsive to the changes in this dynamic market will continue being edged out by others. It is worth noting that innovation and creativity are noble causes in establishing a competitive advantage. Our competitive advantage is comprised of our quality products, ambient environment, our able employees, and having a strong IT section. We believe we are up to the task in facing competition in the market through this combination. ...Download file to see next pagesRead More
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