Qualifier round Read this information about BookNest and then answer the short questions You can submit your answer anytime until the 30th of December BookNest is a bookstore chain known for selling books at affordable prices. However, with the rise of e-books and online shopping platforms, their sales have declined significantly. To survive, BookNest is considering two strategies: Start a membership program offering discounts and exclusive access to book launches. Partner with local cafes to create “book cafés,” combining reading spaces with food and beverages. Note: Answers done using AI are easy to identify. We would prefer original answers rather than ones generated with AI Start answering Q.1 What is the primary problem BookNest is facing? High operational costsDecline in physical book sales due to e-books and online shoppingPoor customer serviceLimited book inventory Q.2 What is a potential benefit of introducing the membership program? Attracting food loversIncreasing customer loyalty and repeat purchasesReducing operational costsEliminating the need for marketing Q.3 Which of the following challenges might arise with the "book café" strategy? Overcrowding in storesHigher competition with online platformsDifficulty in maintaining food and beverage qualityLack of customer interest in physical books Q.4 What could be a key metric to measure the success of the membership program? Increase in foot trafficGrowth in the number of e-book readersConversion rate of non-members to membersNumber of book cafés opened Q.5 How could BookNest benefit from partnering with local cafes? It could reduce competition from e-books.It could attract customers seeking a social and relaxing environment.It could sell more e-books.It could compete with international brands like Amazon. Q.6 Which customer segment would the book café model likely target? Price-sensitive buyersDigital-only readersSocial readers who value experiencesFrequent online shoppers Q.7 What is one drawback of relying solely on the membership program? It excludes e-book readers entirely.It requires a significant increase in inventory.It may not attract new customers who prefer one-time purchases.It creates dependency on food sales. Q.8 Why might combining books and cafés be a unique selling point for BookNest? It creates an immersive experience for readers.It ensures lower prices than competitors.It appeals to e-book readers.It eliminates competition from cafes. Q.9 Which of the following factors is critical for the success of a book café? Having an extensive e-book libraryPartnering with international book publishersChoosing high-traffic locationsOffering free memberships Q.10 What is a potential long-term risk of focusing too heavily on book cafés? Decreasing focus on e-commerceAlienating older readersHigher marketing costsOver-reliance on digital book sales Descriptive Questions Q.1 Between the two strategies (membership program and book cafés), which one would you recommend for BookNest? Justify your choice. Q.2 Design a unique marketing campaign for BookNest to attract more customers. Finish Answering Students Information
Qualifier round
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