assignment 1 (real groovy) leighton wilson
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By Leighton Thomas Wilson4907216
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Real Groovy isReal Groovy is: A chain of music stores in
New Zealand.
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The four stores are located in Auckland, Wellington, Christchurch, & Dunedin
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And it has a worrying problem…
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Due to music sales Due to music sales declining.declining.
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CD sales decreased by 20% in 2006
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As more people look towards the As more people look towards the internet for cheaper products,internet for cheaper products,
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To download songs and buy other music apparel.
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These downloads are both illegal and legal…
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with a 24% increase in illegal downloads in 2006.
But mainly illegal…But mainly illegal…
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This will have negative impacts on the
business…
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Which could result in great financial Which could result in great financial losses.losses.
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So Real Groovy has to find new So Real Groovy has to find new ways to keep the businessways to keep the business profitableprofitable
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And the pressure on the record store has forced it to generate profits in different ways.
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The business has attempted to increase profits by:
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Having a diverse range of Having a diverse range of products on saleproducts on sale
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As well as locating their stores in As well as locating their stores in the CBD’s of cities where many the CBD’s of cities where many consumers are concentratedconsumers are concentrated
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And also by setting up a website And also by setting up a website in 2001.in 2001.
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These techniques have helped Real Groovy succeed to this point
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When competitors like ‘Sounds When competitors like ‘Sounds Music’ stores’ have failed.Music’ stores’ have failed.
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However Real Groovy can still improve its revenues…
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By selling digital By selling digital soundtracks from the soundtracks from the website or stores.website or stores.
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This will allow people to purchase This will allow people to purchase one or two songs, instead of a one or two songs, instead of a whole CDwhole CD
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Improving sales for the business.
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This will keep people coming to the stores or website
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Where they could also purchase Where they could also purchase other items, such as apparel.other items, such as apparel.
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This strategy should improve profits for the business
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And allow it to continue operating And allow it to continue operating into the foreseeable future.into the foreseeable future.
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