It is evident that due to the fact that big online corporations like Amazon.com Inc took over the bookselling industry, it became even harder for bookstores to keep up. Barnes & Noble is one of these companies that flourished during the 1990s and 2000s; however, they almost fell out of business because nowadays, most of the books are sold online. For this reason, the leader of Barnes & Noble would have to implement several new marketing strategies that will help to achieve organizational goals. These objectives include going back on the market and maintaining the bookstore’s position even during these times when the industry is taken over by online books. In order to accomplish these ambitions, the company needs to take marketing concepts into account.
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It means that Barnes & Noble needs to realize the needs of its target market that drastically changed over the past years. For example, Daunt suggests opening new stores in parts of the U.S where there is a lack of bookstores. Moreover, he believes that it would also be effective to relocate several big stores to smaller locations in high-end shopping malls and in affluent neighborhoods. According to the expert, this would allow the brand to gain the attention of middle-class consumers (). Therefore, it can be safely assumed that the article relates to the marketing concept of competition. Furthermore, Daunt also touches upon the production concept since he wants to shift the company’s focus from in-line merchandising.
In conclusion, it would appear that this story can serve as an example of how to rebrand the firm during times of crisis in order to attract new customers. It can definitely interest a marketing professional because the article offers advice on creating a new plan for the company. There is no doubt that this sudden change in the bookselling industry is affected by other factors, like the development of technology and societal shifts. This article not only elaborates on this problem but also offers a solution.
Buckley, T., Deveau, S. (2020). Barnes & Noble’s new plan is to act like an indie bookseller. Bloomberg BusinessWeek. Web.