Friends Curt and Rich own a local bookstore. They are very interested in making

Question

Friends Curt and Rich own a local bookstore. They are very interested in making plans for improving the store and better dealing with competition from the other bookstores that serve the college students in town. Curt said to Rich: "We should be benchmarking what some of the successful coffee shops, restaurants, and novelty stores are doing." Rich replied; "I don't see why; we should only be interested in bookstores. Why don't we study the local competition and even look at what the best bookstores are doing in the big cities?" Who is right, Curt or Rich? If you were hired as a planning consultant to them, what would you suggest as the best way to utilize benchmarking as a planning technique to improve their bookstore? And, how would you use the planning process to help Curt and Rich come to a point of agreement on the best way to forward their bookstore?

Explanation / Answer

To beging with being hired as a planning consultant, the PDCA approach should be prioritized wherein the plans,do's, checks and actions should be aligned to the trending market of Bookstore Business.

The first lookout and research should be encompassing the niche audience and local stores those that are up and runnng in order to develop a grip on the taste of the readers in the current market. Also there shoud be simultaneous action plan for improvising each service that is seen trending.

For example, putting up a small coffee joint by the side of the bookstore is an absolute enlightment to the readers and can add to the Library feeling , hereby also providing the option of reading the books at the store itself before purchase which is ought to catch the customers attention and delight them.

Thereafter, should be taking it forward to the next level of following the Best in Town or probably Conutry level of a research to be having the best practices in radar, as suggested by Rich.

Once the stone is set to role with a twist in the marketing and advertisement to be worth catching the readers attention, there should be a detailed marginal profit study at the beginning. The initial days would not be looked upon as huge profit drawing phase but a slow and progressive growth in turn by acquiring a town to city and to a country by reaching out to the diverse taste levels, age groups and cultures respectively

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