I will pay for the following essay The task is to recommend and justify a strategy for the company that you previously studied in assignment one (or one of the companies listed below if you had valid reason not to attempt your first assignment. The essay is to be 4 pages with three to five sources, with in-text citations and a reference page.
The company is losing to online book retailers and it needs to strategize to fill this gap. Waterstones has ventured into a mutually benefitting agreement with Dyslexia Action. It has produced a resource guide for Dyslexic readers. Its greatest threat is loss of business to online retailers.
The company needs to gain access to the online market as soon as possible before the print books become out dated in the years to come. Many users prefer online book retailers due to ease in access and speed delivery. This is slowly but surely out doing the print book stores .Before the company strategized on gaining access to the online market. it suffered a 0.4% dilution in the market share. This trend is expected to continue if a strategy is not quickly adopted to cover this market gap. Currently, the company is partnering with online book retailers like Amazon.com (Woolla, 2013).This is a short term solution to the problem. The company needs to obtain its own channel to become a multi-channel distributor so that it can be ready for the digitalized eBooks in the near future and to compete with the already established online retailers.
Developing the company’s own online channel in three years time is a long term solution to the company’s greatest threat which is online retail. It is aimed at maximizing revenue through healthy competition. This is the best solution compared to the current strategy of partnering with online stores to generate extra income from this new channel and continuing with print book retail and expanding its market by buying more stores. This strategy is appropriate because it will take time so as to avoid straining the business budget. In 2012 alone, the company suffered losses of 37.3 million pounds to online competitors (Ebrahimi, 2013). Other strategies include buying out competition, partnerships with dyslexia action, expanding its retail market by increasing the number of book stores and