1. Briefly characterize the company Bog & idé
2. Analyze the external environment of Bog & ide
- Social/cultural and technological
3. Analyze buying behavior of buying books
- Maslow hierarchy of needs
- Buying motives
- Type of purchase
- Decision making process
- Type of buying behavior
4. Discuss the competitive strategy and growth strategy of Bog & idé
- Porter’s Model of Generic strategies
Bog & idé takes its starting point in the purchasing association Bogpa from 1969. It has 98 stores in Denmark and its mother company is Indeks Retail.
Bog & idé is a B2C retail company and sells books, paper, writing articles, hobby articles and creative toys.
It generates the most income from books which makes up 50% of their revenue, while paper and writing articles accounts or 40% of their revenue and creative toys and hobby articles makes up 10%.
Book retailer’s overall revenue has fallen over the last years, but Indeks Retail is still coming out on top with Bog & idé as Denmark's largest retail book chain.
The external environment will be used in order to show what Bog & idé must adapt to in the macro environment and also to look into the micro environment that can influence the company.
The external environment and thoroughly research of the market can help find potential gaps in the market or threats to avoid.
This way Bog & idé can maintain a successful company. For the microenvironment the focus point will be on customers and competitors.
In the macro environment, the focus will be on the factors social/cultural, technological, demographic and environmental.