Marketing Plan for Staples Connect Inc.

Staples Connect Inc.
Student Name
Submission Date
Marketing Plan for Staples Connect Inc.
Introduction
Staples Connect Inc. is an American company that retails office products. The first store was opened on May 1, 1986 in Brighton, Massachusetts ("Staples Connect - Home Page" 1). Competition had increased significantly in the e-commerce market in 2014, and Staples Connect started closing some of its stores. In 2015 it announced that it intended to acquire OfficeMax and Office Depot. However, this purchase never materialized due to antitrust as it would result in consolidation. Staples then started focusing on downplaying its brick-and-mortar outlets and supporting its B2B supply businesses. In 2017, the company was sold to Sycamore Partners and split into three entities that were capitalized and managed independently but shared the Staples name ("Staples Connect - Home Page" 1). The company has been performing well, often outdoing its competitors in the market.
Situation Analysis
External Environment
The company is a reimagined retail sore with podcasting, co-working, and community spaces in which teachers, professionals connect and grow together. It has been introduced in Greater Boston in 2020, and this implies that it now has six retail stores where it provides elements of podcasting, co-working, and community space ("Staples Connect - Home Page" 1). Besides the hands-on community and learning elements, the company also provides services and products that teachers, business customers, parents, and teachers have used since 1987. It is still seeking to expand beyond the current geographic locations.
Industry/Competition/Customers
Staple Connect faces stiff competition in the market. In Q1 2017, the business recorded a 18.66% decrease in its sales revenue while many of its competitors increased revenue by 3.55% during the same quarter. Revenue Growth Comparisons between Staple Connect and its competitors is shown below.




Source: ("Staples Inc Comparisons To Its Competitors, Market Share And Competitiveness By Segment - Csimarket")
In terms fo net income, Staple Connect recorded a net loss, with its earnings dropping by 1.28%. This is shown below.


Staple competes with various traditional and online retailers, distributors, and dealers. As the business rapidly expands services and products, it competes with a rising number of competitors like Target, Walmart, and Tesco, warehouse clubs like Costco, electronic stores like Best Buy, technology stores like Apple, online retailers like Amazon.com, print and copy businesses like FedEx Office, and traditional competitors like Lyreco and Office Depot ("Staples Inc Comparisons To Its Competitors, Market Share And Competitiveness By Segment - Csimarket" 1). This implies that Staple faces stiff competition because it operates in different sectors. Further, many of the competitors have extended their presence in its markets in recent times.