As a business administration student, I was trying to figure out why Michael Williams, a music store selling compact discs, collapsed. Judging from some information, I concluded three main reasons. Firstly, there have been two large music stores in the neighborhood, which are 3 miles away from the store. It is very competitive that in a small place are three music stores. Secondly, according to the graph of residents’ age, most of people are middle-aged, while the CDs Michael Williams sold are almost hip-hop and rock, which hasn't actually caught on with mainstream customers. Thirdly, the business hours are against the time crowds walk by. Learned from the survey, few people walk past the store from 12p.m. to 6p.m., when the store only opened, from 1p.m. to 5p.m., and that’s why the traffic was low. Due to these elements, I could understand why Michael Williams ended up closing his store and that if we want to run a business, it’s better to investigate the qualities of the inhabitants in advance.
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