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The Final Chapter: How Independent Booksellers Can Adapt to a Changing Industry

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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

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with the rise of e-retailers like Amazon and the closure of bookstore chain Borders, brick-and-mortar bookstores may be superseded by new digital vendors.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.

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Date Created
2017-05

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Shulman Undergraduate Honors Thesis Presentation

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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

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.

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Created

Date Created
2021-12

Cause Marketing: How Philanthropy Can Bolster the Bottom-Line

Description

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

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.

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Agent

Created

Date Created
2021-12

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Shulman Thesis Paper

Description

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

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.

Contributors

Agent

Created

Date Created
2021-12