1) Write a market survey report about the reasons for the decline in sales of books at popular bookstores.
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Answer:
Our market is facing a decline in growth over the past two years. This is attributed to the overall weak economy. Book store industry sales rose only 3.6% for 2002 whereas overall U.S. retail sales grew by 4.3%. Management believes that the economic slump may be an advantage to the used bookstore industry. As customers cut back on purchasing, used bookstores will look more attractive to customers who still wish to purchase books. Therefore, management believes this may be a good time to get into the industry and gain market share.
Used bookstores serve the entire purchasing population of its geographical area but focus on the customer who desires to purchase books/music at a discount price and, with regards to books, often do not see a long-term attachment to the product.
Our main competitors are: Barnes & Noble (which holds approximately 22% nationwide market share), Borders (which holds approximately 15%), and other local new and used bookstores.
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