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- Creators: School of Accountancy
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
- Member of: Theses and Dissertations
- Status: Published
Description
The business models of the music industry are currently experiencing rapid changes. Services such as Spotify, SoundCloud, and Pandora offer methods of consuming music unlike any the industry has seen before. Consumers have shifted from wanting products (digital music and CDs) to using streaming services (Spotify, Pandora, etc.). This study analyzes the motivation for these changes and considers why people choose the avenues by which they experience music.
ContributorsDugan, Emma (Co-author) / Foley, Meghan (Co-author) / Bhattacharjya, Nilanjana (Thesis director) / Ingram-Waters, Mary (Committee member) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor) / WPC Graduate Programs (Contributor) / Department of Economics (Contributor) / Department of Supply Chain Management (Contributor) / W. P. Carey School of Business (Contributor)
Created2015-05
Description
Social media has evolved so quickly in the past two decades and continues to grow and change at a rapid pace. This way of connecting and communicating with others has become so ingrained in daily life and can have a major influence on people's actions. Social media and social networking look vastly different today than it did in the past, and will continue to change for the future. The sports and travel industries are no exception to the integration of social media. Both entities understand the importance of being prominent in the online domain and connecting to the Millennial generation. It is crucial for young people to learn how to positively use social media in the classroom and in the workplace as their lives become consumed by this digital world. The emphasis on social media in different facets of society can bring both positive and negative connotations along with it, depending on how, when, and why people decide to use it. Social media is not meant to replace all interactions and forms of contact, but rather enhance these relationships. By analyzing the history of social media, current trends and effects, this project seeks to forecast the impact that social media will continue to have in the future. In the fast paced world today, social media and other forms of electronic communication will only continue to increase and be intensified. This project explores how social media has impacted society, most importantly, the travel industry and the sports industry. Social media will continue to expand knowledge, connect people all over the world, and enhance experiences as it inevitably becomes even more integrated into everyday life.
ContributorsHomes, Taylor (Co-author) / Larkin, Anna (Co-author) / Eaton, John (Thesis director) / McIntosh, Daniel (Committee member) / Department of Marketing (Contributor) / Department of Supply Chain Management (Contributor) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
The purpose of this thesis is to examine the current state of the brick-and-mortar bookselling industry, with particular focus on independent bookstores and their strengths and weaknesses, and synthesizing recommendations for these bookstores to reinvent themselves in a rapidly changing market. This examination is highly relevant given recent concerns that, with the rise of e-retailers like Amazon and the closure of bookstore chain Borders, brick-and-mortar bookstores may be superseded by new digital vendors. Independent bookstores are thought to be at a particular disadvantage to these retailers, given their limited size and resources, as well as the lack of capital or consumer base that a larger chain like Barnes and Noble can draw upon to invest in emerging technology. With these more limited financial opportunities, independent bookstores must find different ways to not only keep abreast of the technology that consumers are coming to expect from modern businesses, but attract customers.
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.
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.
ContributorsPorrell, Kelly Maria (Author) / Montoya, Detra (Thesis director) / Schlacter, John (Committee member) / School of Historical, Philosophical and Religious Studies (Contributor) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05