Several significant theoretical concepts to be considered can include: 1.) How the office supply industry can increase their profitability; and 2.) How marketing strategies are able to aid in the growth of customers. Through qualitative research, further examination will be gathered to help Staples gain a better understanding into all surrounding elements that affects the office supply industry and what is preventing them as a whole to secure the necessary sales of products that will result in the increased profitability of their stores. How the office supply industry can increase their profitability. It is evident that one of the most important things that any company should do is to be focused on stopping the bleed within their organization.
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Typewriters are a thing of the past and not many people have one, therefore the need to carry supplies for them is no longer there. In addition to closing underperforming stores, what would be beneficial as well would also be to take a look at the location size and layouts. If quite a few products in the store are not being sold, a suggestion is to stop carrying it in the store and make it available online (“Trends in the Office Supplies Industry,” 2016). Also, this way the costs of running a smaller store location will decrease the amount of money coming out of pocket as opposed to going in. And whether in the same location or a smaller one, look towards revamping the aisles, shelves, removing old products, placing items most purchased strategically out of the way can equal to customers scanning aisles with other products leading to potential sales of additional items (Michalowicz, …show more content…
The evaluation of competitors has shown that with the continued existing actions that are being taken, it will only remain in the same manner or deteriorate, but with renewed ways there is the likelihood of increasing profits. Also, new methods will allow for the opportunity to secure new and potential customers. However, given those facts, it still does not put aside the fact that Staples has the advantage over their competitors whether they be direct or indirect. Their name still carries weight with being the first in their industry, so they will have brand recognition, their stores are well organized and easy to maneuver through, their prices are competitive, and Staples.com is considered to be the second largest online retailer. Besides both competitors do not have the size of Staple’s inventory in quality or quantity amounts which is also an
Typewriters are a thing of the past and not many people have one, therefore the need to carry supplies for them is no longer there. In addition to closing underperforming stores, what would be beneficial as well would also be to take a look at the location size and layouts. If quite a few products in the store are not being sold, a suggestion is to stop carrying it in the store and make it available online (“Trends in the Office Supplies Industry,” 2016). Also, this way the costs of running a smaller store location will decrease the amount of money coming out of pocket as opposed to going in. And whether in the same location or a smaller one, look towards revamping the aisles, shelves, removing old products, placing items most purchased strategically out of the way can equal to customers scanning aisles with other products leading to potential sales of additional items (Michalowicz, …show more content…
The evaluation of competitors has shown that with the continued existing actions that are being taken, it will only remain in the same manner or deteriorate, but with renewed ways there is the likelihood of increasing profits. Also, new methods will allow for the opportunity to secure new and potential customers. However, given those facts, it still does not put aside the fact that Staples has the advantage over their competitors whether they be direct or indirect. Their name still carries weight with being the first in their industry, so they will have brand recognition, their stores are well organized and easy to maneuver through, their prices are competitive, and Staples.com is considered to be the second largest online retailer. Besides both competitors do not have the size of Staple’s inventory in quality or quantity amounts which is also an