Staples Case Study Essay
Restatement of research question and hypothesis. This paper researched the possibility of Staples returning back to being an industry leader after changes are made. The research question presented was to determine if Staples could successfully revise its strategy to increase its profitability and profit growth. Through this, it was hypothesized that if Staples is able to incorporate combining methods and position the demand for office supplies once again, then its outlook will be positive. The literature review revealed several weaknesses within Staples, indicating that it is in a vulnerable position with all of the surrounding threats in its industry. Thesis statement. Based on this information, the analysis of the research question and
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Usually it tends to go with traditional methods of advertising such as television, print and online. Then it grasped that most people get their news from social media and spends a lot of time being entertained by it. In efforts of capitalizing on this new era, Staples can benefit from implementing social media strategies used by Officeworks’, an Australian company. For a company to keep up with or stay relevant, it has to maintain a strong social media presence and use it accordingly to their advantage (“Trends in the Office Supplies Industry,” …show more content…
There is no current method in place for improving upon Staples’ diversification methods. One of the best ways to capitalize on improving this would be to look into the needs beyond office supplies and business services. A recommendation could be to introduce a coffee station or bar and also to provide customers with free Wi-Fi, both of which should be implemented within the next six months. It could be placed in the surrounding areas close to the business services location within the stores.
While customers are waiting for items to be finished, they have the benefits of purchasing a cup of coffee and utilizing the free Wi-Fi for work or personal needs. This can help the customers to relax, not be in such a hurry, and it may even invite them to walk around, resulting in the possibility of purchasing additional supplies. The Wi-Fi and coffee addition can improve foot traffic in stores and increase sales, as well as giving Staples an edge over its
Usually it tends to go with traditional methods of advertising such as television, print and online. Then it grasped that most people get their news from social media and spends a lot of time being entertained by it. In efforts of capitalizing on this new era, Staples can benefit from implementing social media strategies used by Officeworks’, an Australian company. For a company to keep up with or stay relevant, it has to maintain a strong social media presence and use it accordingly to their advantage (“Trends in the Office Supplies Industry,” …show more content…
There is no current method in place for improving upon Staples’ diversification methods. One of the best ways to capitalize on improving this would be to look into the needs beyond office supplies and business services. A recommendation could be to introduce a coffee station or bar and also to provide customers with free Wi-Fi, both of which should be implemented within the next six months. It could be placed in the surrounding areas close to the business services location within the stores.
While customers are waiting for items to be finished, they have the benefits of purchasing a cup of coffee and utilizing the free Wi-Fi for work or personal needs. This can help the customers to relax, not be in such a hurry, and it may even invite them to walk around, resulting in the possibility of purchasing additional supplies. The Wi-Fi and coffee addition can improve foot traffic in stores and increase sales, as well as giving Staples an edge over its