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- All Subjects: Corporate Social Responsibility
- Creators: Schlacter, John
- Creators: Abraham, Bridget
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
Consumers have changed their purchasing preferences from only requiring a product or service be of quality and affordably priced to demanding the businesses that offer such products or services be socially responsible entities, as well. As corporate social responsibility endures to be regarded as a necessary business practice in the minds of consumers, brands must align their marketing strategies accordingly. Specifically, brands must use philanthropy as a selling point to attract consumers. Philanthropy serves the dual purpose of improving communities and, if done properly, creating a competitive context that businesses can use to their fiscal benefit. Cause marketing, in its simplest form, is the use of philanthropy by for-profit companies as a means of attracting clientele to increase sales. Through charitable involvement, for-profit companies can generate goodwill that in turn creates a positive public perception of their brand. By partnering with carefully selected charities and investing in charity-centric endeavors, companies can engage their customers and drive revenue while bettering their communities. From this standpoint, it behooves any business to engage in cause marketing initiatives as a means of attaining customers. This thesis articulates the value that cause marketing can add to a corporate portfolio, how community involvement can be parlayed into increased revenue, and why brands should invest in cause marketing tactics. A literature review was conducted, empirical information was collected and analyzed, and interview testimonials were used in defense of these claims. In conclusion, this thesis establishes statistical proof that cause marketing promotes sales by positively affecting consumer brand perception, a key factor in purchase consideration and purchasing decisions.
The cosmetic industry has a significant lack of data on sustainability practices. The global market for cosmetics is expected to grow from $288 billion in 2021 to $415 billion in 2028 as more people populate the globe (Cosmetics Market Size, Share, & COVID-19 Impact Analysis, 2022). This research paper analyzes sustainability within the cosmetic industry. Specifically, comparing the practices between The Body Shop and Bath & Body Works. To test the hypothesis that The Body Shop is more sustainable than Bath & Body Works, a case study analysis was conducted to measure the companies’ performance in the environmental, economic, and social sectors. Comparable metrics were selected, and a pairwise comparison was completed to weigh the different metrics. To analyze the results, the Analytic Hierarchy Process (AHP) was used to ensure consistency in metric weights, and a Mann-Whitney U test was used to analyze the sector's final weights. The results verified the hypothesis that The Body Shop was more sustainable than Bath & Body Works. In all, the results support the idea that the cosmetic industry needs stronger regulations and oversight of cosmetic companies’ sustainability impact. One of the most prevalent limitations of this study is the lack of transparency and information from cosmetic companies. Moving forward, it is recommended to use data from multiple years with key performance indicators (KPIs) to assess sustainability performance more accurately.