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Business Class

In: Business and Management

Submitted By ccorahua12
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“The Booksellers”

MKTG6200 Creating/Sustain Customer Markets
Final Project

Executive Summary

Barnes & Noble (B&N), Inc., is a Fortune 500 company, the largest retail brick and mortar bookseller in the United States, and a leading retailer of content, digital media and educational products in the country.1 Over the years, we have been faced with decreasing profits due to a shrinking market for print books, competition from Amazon.com Inc., and the costs of investing in our own e-reader.2 Barnes & Noble Education, Inc., one of the largest contract operators of bookstores on college and university campuses, legally separated from Barnes & Noble on August 2nd of 2015.3 Therefore, the college student market segment that purchases their books from a Barnes & Noble Education-owned bookstore will not be discussed. Barnes & Noble Education did contribute to increase the brand name of Barnes & Noble, “The Bookseller”.

B&N first store opened in 1917 as a bookstore.4 Since then our company has expanded its store offerings to include toys, games, music selection, coffee, and food. With less than 2 years to the anniversary of the opening of our first store, we recommend returning our focus back to books; our marquee product. Therefore, we will provide a detailed marketing strategy to increase the overall sales of books. We will offer solutions to increase purchases of current customers, address customer price concerns by promoting our loyalty program, how to increase foot traffic by offering free wifi. Additionally, we’ll discuss one of our key products; the NOOK, while briefly touching upon the products we have added to our repertoire since 1917. We also strongly recommend Barnes & Noble needs to ensure a vast supply of books availability in the store to address the diverse market segment with an increase emphasis on educational…...

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