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Barnes & Noble
Transcript of Barnes & Noble
Metrics & Growth Strategies
Segmentation, Targeting, and Positioning
They can market themselves as a community gathering place.
Expand their online presence to be able to compete with Amazon
Barnes & Noble college.
Barnes & Noble is the last remaining big chain book store.
You know what you are buying
Offer a comfortable environment that includes a Starbucks
Partnership with Google
Barnes & Noble college.
As a whole, the company is not doing very well financially.
Forced to stop working on Nook app after ending partnership with Microsoft.
In 2010 Barnes & Noble was one of the highest rated retailers when it came to "customer experience." By 2012 Barnes and Noble was one of the fasting falling retailers on the list.
Amazon and other online retailers remain Barnes & Noble's biggest threat.
Other tablets that offer more features than the Nook.
Impossible for the company to operate indefinitely with a loss.
Market Development Strategy
Barnes & Noble College retails specifically in the college textbook market.
A company that has typically marketed to the Baby Boomer generation can now market to the younger generations.
Creates the opportunity for the company to sell, rent, and buy back books through online services.
Barnes & Noble has a membership card that costs $25 a year.
Customers get 40% off the list price of current Barnes & Noble bestsellers and 10% off Barnes & Noble sales price.
By being a member customers frequently receive coupons via email.
Barnes & Noble has a tough time competing with the prices of Amazon.
The Kindle is often considered to be a more efficient e-reader than the Nook.
Barnes and Noble has a strong brand that has outlasted all of the other major bookstore chains in America.
Barnes & Noble retail stores are in all 50 states.
They also own college bookstores that serve over 5 million students and more than 250,000 faculty members across the United States.
B&N also operates its own website for searching and ordering books
"Although price has never been the number one reason book buyers cite as a factor in choosing where to shop, it has becoming progressively more important. And, of course, it is even more important online"
Leonard Riggio, Chairman of Barnes & Noble
Google and Barnes & Noble Unite
In the summer of 2014 Barnes & Noble launched a same-day delivery service through Google Shopping Express.
This is a good way to merge the digital with the physical
Launched in August 2014 in New York, LA, and San Francisco.
Brick-and-mortar buildings in popular shopping areas
Barnes & Noble has 658 retail stores and 714 college bookstores nationally
Offer books in different formats
Genres for all ages
Geared towards college students buying textbooks
Users can search for any book from the comfort of their own home
History of Barnes & Noble
In store, customers can browse through aisles of books and ask for help from knowledgeable employees
Chairs and places to sit and read books
Barnes & Noble offers cafes for customers, which has free WIFI
Some customers prefer online shopping apposed to in store shopping
More convenient, and slightly cheaper prices
Advanced search engine to locate any book by author, subject, title
1886 - 1894
Originally named Arthur Hinds & Company in 1886
Bookstore located in the Cooper Union Building in New York
Renamed Hinds & Noble in 1894 after Gilbert Clifford Noble became partner of the bookstore
Named Barnes & Noble by owners William Barnes and Gilbert Clifford Noble
During the Great Depression, B&N moved to its flagship store on 18th street and Fifth Avenue.
This location just closed in 2014
Leonard Riggio, owner of the Student Book Exchange (SBX), buys B&N for $1.2 million. By this time, the bookstore had fallen into decline. Riggio transformed the Fifth Avenue store into "The World's Largest Bookstore"
First bookstore to advertise on television
Barnes & Noble becomes the first bookstore to offer New York Best Sellers at a discount price
The bookstore also begins to publish their own books for mail-order customers to reach new customers nationwide
1974 Barnes & Noble's Fifth Avenue store becomes the
Guinness Book of Record's
"World's Largest Bookstore"
In 1987 B&N purchased B Dalton Books
In 1988 B&N acquired the 22-chain bookstore Bookstop
By 1999, Barnes & Noble had become a superstore bookseller as well as the second largest online bookseller in the United States
Barnes & Noble becomes the last national bookstore chain after the closing of main competitor, Borders
Can buy a book at any time, anywhere
eBooks becoming a more popular market
More of a repositioning strategy
Barnes & Noble doesn't advertise on a regular basis. The company's main advertising campaigns are T.V. commercials around the Holidays as well as to introduce the Nook to the market
Barnes & Noble has sales promotions that include:
"Deal of the Day"
Personal Selling & Direct Marketing
Barnes & Noble retails stores have employees that are ready to help
B&N.com has an advanced search engine that can search
Members receive customized email notifications of sales and promotions they may be interested in
Genres & Subjects
Children's Books for ages 0-12
Textbooks for high school and college age students
New York Times Best Sellers for adults
For Book lovers
A World Of Entertainment
B&N's own eReader for eBooks
Our mission is to operate the best specialty retail business in America, regardless of the product we sell. Because the product we sell is books, our aspirations must be consistent with the promise and the ideals of the volumes which line our shelves. To say that our mission exists independent of the product we sell is to demean the importance and the distinction of being booksellers.
As booksellers we are determined to be the very best in our business, regardless of the size, pedigree or inclinations of our competitors. We will continue to bring our industry nuances of style and approaches to bookselling which are consistent with our evolving aspirations.
Above all, we expect to be a credit to the communities we serve, a valuable resource to our customers, and a place where our dedicated booksellers can grow and prosper. Toward this end we will not only listen to our customers and booksellers but embrace the idea that the Company is at their service.
Around 40 years old
More than half (53%) have children
She loves to shop, tech enthusiast, and enjoys traveling
Avid reader and loyal through membership
In stores and online prices remain relatively consistent
Online orders ship directly from warehouses so customers experience more savings
The cost of buying the product from the producer plus amounts for profit and expense
Barnes & Noble is a reseller
Buy from publishers and authors
Sell and collect 30% profit
Establishing separate price levels based on quantity purchased
Barnes & Noble offers discounts on online orders over $25 as well as a discount of 50 purchase copies of same book.
The strategy used to establish the price for a combination of more than one product
Barnes & Noble offers discounts on orders that include both hardcover and paperback books
Barnes & Noble Marketing Plan
L0-1 Mission Statement
LO-2 Four Theories of Excellence
LO-3 SWOT Analysis
LO-5 Marketing Mix, Four P's
LO-6 Marketing Metrics
LO-7 Growth Strategies
A pricing strategy employed by Barnes & Noble particular short term discounts or incentives provided through becoming a Barnes and Noble club member or Barnes and Noble Mastercard holder
YouTube channel for Nook
Twitter @BNBuzz and @nookBN
To Promote Reading
Barnes & Noble maintains a great stock rate for its books
If the book is out of stock a special delivery to the store can be requested free of charge
*Nook has been on the decline
Targeting the entire country
Barnes & Noble targets cities with populations of 50,000+ residents
male and females, 18-44
Collegiate students and adults
working class, college graduates or college students who earned an income in excess of $75,000/year
Ambitious, achievers, slightly-introverted
Avid reader who likes to shop
Families and kids "Read and Record"
Women and avid readers
Laura Comire, Christian Renzi and Michael Marreiros