As identified above the root of the problem for the mentioned music store is the lack of change and flexibility depicted by the owner of the business. The owner does not want to accept the changing environment around him. He was catering to a very specialized and niche market which is increasingly getting extinct. People are still interested in the classical music and records. However these people are growing few in number. Moreover the younger population which is most likely to spend their savings an allowance on records is looking for the new and current records in the market. These rare not catered to by the shop. As a result the shop is facing decreasing revenues and a dwindling clientele. However the owner has been able to realize the problem but still remains adamant in keeping the shop as a niche product and service.
The change that the proprietor has made as a result of the problem however was not entirely suitable. He tried to change the look and feel of the shop. This was a mistake as the clients who come for authentic music records from the 1950s are usually eccentric in nature and art collectors. As a result they are looking for a much suitable type of outlet or retailer which can provide the best collection of music. However while the proprietor’s selection in music ws exceptional he was facing low revenues based on the small number of his clientele. The danger that lies here is that due to the change made now, the old clientele of the shop might be repulsed or might not get the charm of the old outlet.
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