Copperfield's Books Inc. The Nature Term Paper

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Books have become almost obsolete products for the young demographics. However, the preference for classic books has remained steady in the upper segment of the population. Not in the least, the dynamic technological frame influences deeply the bookstore industry, reshaping constantly demand trends and logistics.

Operating environment

Among the opportunities present in the operating environment, the niche approach targeted at the upper class and the still very vital preference for old rare books can be considered an alternative with promising business potential. Also, the good level of demographic indicators in the Sonoma and Napa Counties should be built on.

Main market threats are represented by the consolidation of the market, leading to the disappearance of many independent small size booksellers and to an increasing concentration of power in the hands of the large supplier chains and supermarkets. Second, the Internet boom has changed market dynamics at a fast pace, throwing traditional booksellers in a whirlpool of challenges to their business model and its profitability. Competitive forces are constantly increasing on the market. Third, the used books segment is rapidly growing, eating out of the new books market and lowering the average annual quota spend on books per household.

Decisions/Issues/Problems

The main strategic decision that Copperfield's Books Inc. is facing is whether to expand business (focusing on size and quantity) or to adopt a niche approach, focusing on the competitive advantage offered by rare books (hence on quality).

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The choice of business model is vital for the future development of the company.

Strategic recommendations

The most important recommendation that should be mentioned is to build a clear and strong positioning. Products and many services today are so much alike that the consumer cannot tell them apart unless they see the package or the brand name. Technological progress has leveled physical qualities of products. This is why it is essential to identify and promote a point of difference. The consumers' minds resemble ladders on which they rank products; each with a single position. To be able to penetrate the ladder a company has to find that one thing about itself that can meet a consumer need or desire at a certain moment in time. In the case of Copperfield's Books Inc., the niche strategy of focusing on rare books and tailor made services, also connected to high life habits and wine (as a social statement and as a means to value the specificity of the geographic region) could become a very strong positioning. Another possible strategy is to reposition the competition, to relate your own product/service to the competitor's. In this case, the best thing to do for the company would be to build on the perception of tradition and to position itself against that standardization and centralization that are characteristic of large supermarkets and bookshop….....

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