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By Varun Prasad
ID:4963074
This Report was requested by Chris Heart
It discusses their current situation and talks about...
Strengths..
Weaknesses...
Opportunities...
And threats..
That Real Groovy currently Faces...
Real Groovy has a very good reputation
Especially the Auckland Branch being in the heart of the town......
Attracting a range of customer and a range of different music
This then leads to their current situation.....
Beginning with.......
Diversity...
Real Groovy has Great ways of keeping its label stable...
e.g. The loyalty schemes it holds, offering rewards for other companies schemes...
It helps to draw customers from other music stores and provides them with the best deals!!!
They have a special Club members deal..
Customers Receive $20 for every $200 spent, holding about 60,000 members and sending $1million back
This Provides a great Strength in keeping their customers stable and happy.
Real Groovy has 2 magazines...
And Run a ticket box office operation..
Which sets them well ahead and broadens their customer base
Real Groovy provide....
CDs
DVDS
Books
And Games
Generating a lot of different customers
Unlike The Warehouse and JB Hi Fi...
Real Groovy’s website allows people to buy online...
We also have to Consider....
Competitors...
The entrance of JB Hi Fi and the competitors like The Warehouse..
Is a weakness for Real Groovy
Plans of JB Hi Fi wanting to expand...
Who provide more than just music and collect a far generation of customers...
Will have a big impact on Real Groovy
The Warehouse is found throughout NZ and have a huge customer base and variety of goods..
Compare that with Real Groovy which is made up of 4 stores..
We learn..
Size does matter
These stores keep battling for the best music provider in NZ
But there are more competitors to take into mind...
Electronic Boutique, Dick Smith, and Harvey Norman
Are Real Groovy’s biggest threats when it comes to...
Gaming
Electronic Boutique has over 4500 stores worldwide..
And provides all the essentials a gamer would want to know on their website
When it comes to the Books Real Groovy provides...
Whitcoulls come into the picture
Who provide the best books for customers..
Real Groovy is really weak when it comes to prices..
The R&B Collection CD..
Was $27.00 at The Warehouse while Real Groovy had it priced $49.00
Another Factor affecting Real Groovy is...
Technology..
The growing change in technology has had a massive impact on Real Groovy...
From new competitors like...
Apple’s I-tunes...
Who are taking over the music industry
This then introduces digital music...
And says hello to ipods,mp3/4 players...and bye bye to....
the classic CDS
CDs can be broken or annoying to carry
But with digital music..
It is much simpler and easier
David Chartier says digital music sales in US and Britain increased by 50%
And CDs fell by 14%...
From this digital music change..
Comes..
Piracy!!!!
People are now days downloading illegal free music
Rather than purchasing digital and physical ones
So this is big threat for Real Groovy
And has already sent major competitor Soundz
Into liquidation
Recommendations.......
Open more Stores.....
Provide more variety of products...
Adapt with the digital music and provide them to customers
The information in this slideshow is from my Business report
The pictures were found from the search engine Google.
The addresses are:
http://www.centennialsd.org/site/images/diversity.jpgwww.sriramkrishnan.comhttp://www.davidwallphoto.com/images/%7BDDE327A1-BA78-4A13-99E5-AC0E3185EFC0%7D.jpghttp://blueridgerealestate.files.wordpress.com/2007/09/cartoon-dollar.jpghttp://i1.iofferphoto.com/img/item/253/511/57/o_bobby100m-img557x600-cds_3.jpghttp://fordlog.com/wp-content/fight_cartoon.jpghttps://www.videogamesplus.ca/images/ps3_metalgearsolid4_display.jpghttp://www.nonstopmac.com/images/ipod-family.jpghttp://www.mixbuss.com/contentimages/broken_CD.jpghttp://www.byte.org/images/piracy_2Dkills_2Dmusic_2D.gif