Real Groovy
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Real Groovy, a music store, was initially successful but has struggled recently due to advancing technology. The rise of portable music devices and digital music, as well as peer-to-peer file sharing, have decreased sales of physical music recordings. Online shopping also provides more convenience for obtaining music. Larger stores are able to offer lower prices to gain greater market share. To succeed, Real Groovy needs to create a digital music store and maximize its strengths like a diverse product selection.
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Real Groovy, a store that sells vinyls, CDs, DVDs, and merchandise, was very successful until the music industry changed. The company now faces three new challenges: advanced technology, online shopping, and competitors. To remain competitive in this changing market, Real Groovy could introduce an online jukebox system, offer VIP incentives to retain customers, make products more affordable to different demographics, and expand merchandise selection to include music-related equipment.
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Real Groovy, a store that sells vinyls, CDs, DVDs, and merchandise, was very successful until the music industry changed. They now face three new challenges: advanced technology, online shopping, and competitors. To remain competitive, Real Groovy could introduce an online jukebox system like iTunes, offer VIP incentives to retain customers, make products more affordable to different demographics, and expand merchandise selection to include music equipment accessories.
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- 1. The Turmoil that Surrounds it Amrita Prasad 4939410 Information Management 191
- 2. Real Groovy started off.....
- 4. Sale of CDโs were on the roll..
- 5. Turnover was good and the owners were happy =
- 6. However, things have been a little gloomy in recent times
- 7. Itโs a tough battle with advancing technology
- 8. How?
- 9. More Portable music devices...
- 10. ... leading to increased demand of digital music
- 11. A rise in ....... .....in the form of.....
- 12. Peer โ Peer file sharing Programs
- 13. which is a much cheaper way of obtaining music
- 14. Thus decreasing the sale of physical music recordings
- 15. Then there is
- 16. ..where bigger firms like The Warehouse tend to dominate the market
- 17. by offering lower prices hence obtaining a greater market share
- 18. Also, the evolution of online shopping
- 19. has led to greater convenience in obtaining music....
- 20. All the above factors put pressure on Real Groovyโs business operations
- 21. What can Real Groovy do?
- 22. 1.Keep up with the advancing technology and introduce a new digital music store
- 23. 2. Maximise on its strengths
- 24. like providing a diverse range of products
- 25. These may once again lead to =