infomgmt 191- assig 1
DESCRIPTION
Real GroovyTRANSCRIPT
An analysis of the PRESENT
& FUTURE
© Sneha Mahajan4930547
Present Situation Analysis
1) Illegal Music Downloading
= Reduction in music retail sales
= BIG financial LOSS for Real Groovy in the long run
“The music industry estimates that [in 2004] piracy was to blame for a $45
MILLION downturn in the last 12 months”
2) Technological Advancements
Introduction of portable music players that support digital music formats
Increased demand for…
Mobile Music Concept- Music
available Anytime, Anywhere, in the
palm of your hands!
Music CD’s are slowly becoming a thing of the past…
In other words, sales are diminishing for core selling product of Real Groovy
A recipe for…
3) Competition
Between…
Large companies
such as The
Warehouse
Small retailers such as Real
Groovy
Big
More power = ability to sell goods for cheaper
“Where everyone gets a Bargain”
CD’s sold at below cost price!
Small
Less power = trade off between range and product pricing
Efficient Website usage and Network Computing Software
Knowledgeable staff
Quick Summary Comparison
Real Groovy needs a Real
Plan
Future
1) Updating current network computing software for efficient inventory tracking
This will ensure effective management of
inventory so that online purchase orders are dealt with efficiently with minimal errors.
We are in the age of technology so…
2) - Focus on maximising core music sales through online website
- No need for more physical stores
Create an innovative database of various music genres in digital format
Improved access to shared database at low cost
3) Offer discounts and package deals to loyal customers