This website uses cookies to ensure you have the best experience. Learn more

Competitive Position Of Build A Bear Workshop Essay

2346 words - 10 pages

I. Introduction
This paper is aim to have a quick analysis of current competitive position of Build-A-Bear Workshop in the toy industry and challenges it faces, and to provide Build-A-Bear Workshop with some short-term and long-term recommendations to continue its success in toy industry. This paper mainly apply Porter’s five forces analysis, external environment analysis, financial analysis and value chain analysis.
II. Case Summary
Build-A-Bear Workshop was an American toy retailer, which was founded by Maxine Clark in 1996 in St. Louis, Missouri. Build-A-Bear Workshop main served teddy beard and other stuffed animals, and accessories for teddy bears and other stuffed animals. According ...view middle of the document...

In order to reverse the decline situation, Build-A-Bear Workshop establish three innovative strategies: first, open pop-up stores to lure customers to revisit with introducing of new stuffed animals accessories; second, establish some short term themed product lines to make customers become interested in its products; third, establish licensing agreements with various professional ball teams to allow elder customers play ball games with their children or grandchildren.
III. Environment Analysis
The below is a list of external environment change which can affect Build-A-Bear Workshop:
A. Demographic segment
Nowadays, as the aging population is increasing, Build-A-Bear is not able to generate much sales as before. As Build-A-Bear Workshop mainly targeted at children aged three to twelve, Build-A-Bear Workshop did not have effective strategies to attract the aging population to its stores. However, the increasing aging population also can give Build-A-Bear Workshop an opportunity to increase its sales by introducing more new toys or games which grandparents could play with grandchildren to increase communication between aging population and the young generation.
B. Sociocultural segment
As dual-income families are prevalent in the society, most of kids are usually left at home by themselves. Because lonely children have a greater demand of toys and stuffed animals to accompany them, especially little girls, which will give Build-A-Bear Workshop an opportunity to increase its revenue. In addition, “the “Kids getting old younger (KGOY) phenomenon was noted on the Toy Industry Association’s website: ‘Kids are seeking more sophisticated entertainment…and doing so at younger and younger ages” (Eisner et al., p. C265)
C. Technological segment
While Internet technology is continually developing, various substitutions are available for customers. According to professor Eisner et al. (2011), “increasing popular electronic gadgets, video, and online games, such as Nintendo Wii game console and the www. Webkinz.com online community, could easily attract children’s attention and thus reduce the time kids spent with their plush animals” (p. C264). Because children’s preference has changed from stuffed animals or toys to technology-based devices, Build-A-Bear Workshop’s traditional products cannot meet current children’s needs.
D. Economic segment
Recently, mall traffics are greatly decreasing because the price of gasoline is going up in such a weak economic situation. In addition, because Build-A-Bear Workshop’s stores are located in malls, the declining of mall traffics could negatively influence sales of Build-A-Bear Workshops. In order to increase its sales, Build-A-Bear Workshop may transfer its stores from inside to outside of malls.
IV. Porter’s Five Forces Analysis
A. The intensity of competition in toy industry
The competition in the toy industry is intense right now because changeable preference of kids and increasing competitors. As current kids’...

Other Essays Like Competitive Position Of Build-A-Bear Workshop

Entreprenuership and Intrapreneurship as Sources of Competitive Advantage in a Corporate -Lit Review

2027 words - 9 pages people together in order to build a single productive organism (Schumpeter, 1951).British economists such as Adam Smith, David Ricardo, and John Stuart Mill briefly touched on the concept of entrepreneurship. Mill stressed the significance of entrepreneurship for economic growth and claims that entrepreneurship required a special skill, (Schumpeter, 1951). ENTREPRENEURIAL DEVELOPMENT THEORY MODEL PERIOD TOPICS AUTHORS AND RESEARCHERS 1. What

An Economic Analysis on the Short-Run Supply Curve of a Competitive Firm

1765 words - 8 pages Course Title: Introduction to Economics Course ID: ECN 200 Coordinator: Dr. A.K. Monaw-War Uddin Ahmed “An Economic Analysis on the Short-Run Supply Curve of a Competitive Firm” Name: Shariful Alam Chowdhury Student ID: 1120023 Perfect competition – a pure market Perfect competition describes a market structure whose assumptions are extremely strong and highly unlikely to exist in most real-time and real-world markets. The reality

An Evaluation Of Porters Diamond As A Means Of Explaining Why Some Countries And Industries Have Competitive Advantage Over Others

1618 words - 7 pages rivalry often leads to the formation of unique specialized factors.Using Porters DiamondPorters Diamond has been used in various ways. Organizations may use the model to identify the extent to which they can build on home-based advantages to create competitive advantage in relation to others on a global front. On national level, governments can (and should) consider the policies that they should follow to establish national advantages, which

•from the E-Activity, Evaluate the Situation of the Organization You Researched. Create a Program Outlining Steps the Organization Might Take to Build Better Public Relations

1753 words - 8 pages strong competitive position due to its global priorities of optimizing its menu, modernizing customer experience and broadening accessibility to its brand. Drive-thru lanes have become the dominant sales stream for McDonalds in the past decade. However, there are fewer options in densely crowded cities around the world where space is so scarce the restaurant isn’t able to offer drive-thru lanes. Moreover, McDonalds has implemented delivery

Quality And Financial Performance Are Intimately Related. A Fundamental Responsibility Of POM Is To Produce A Competitive Product Or Service Based On A Balance Between Quality And Costs Of Quality

805 words - 4 pages Cost of QualityQuality and financial performance are intimately related. A fundamental responsibility of POM is to produce a competitive product or service based on a balance between quality and costs of quality. Most companies have the slightest idea on how much firms have spend on COQ, it can be as high as 20 to 40% of sales. Since the numbers are typically much higher than profits in some firms, a reduction on COQ can have a significant

The Chief Executive of Hong Kong Has a Special Legal Position Which Overrides Administrative, Legislative and Judicial Organs and That the Separation of Powers Is Not Suitable for Hong Kong

1878 words - 8 pages Assignment POLS A122F SOCIAL SCIENCE FOUNDATIONS: POLITICAL SCIENCE 9 December 2015 Question 1: “The Chief Executive of Hong Kong has a special legal position which overrides administrative, legislative and judicial organs and that the separation of powers is not suitable for Hong Kong.” With reference to the constitutional arrangement of Hong Kong, to what extent is this statement valid? In the 25th anniversary of the

Principle of Marketing

925 words - 4 pages BUILD A BEAR A MEMORY SUMMARY: Maxine Clark opened a company store “Build A Bear” in 1996. In that era people were interested in dot-coms . Opening a retail shop at that time was not rational. But the founder of the company store found a new way to attract customers and to satisfy them. As its name shows it is a workshop where bear are built but not by the worker but by the customers themselves. This was the concept that took Build A

Workshop Portfolio

3741 words - 15 pages performance for stage and screen | Workshop Portfolio | Arts in the Community | | Sarah Milner | “Theatre is a form of knowledge; it should and can also be a means of transforming society. Theatre can help us build our future, rather than just waiting for it.” (Boal, 1992, p. 31) For this module in Arts in the Community I wanted to work with children and after talking to Alice I discovered that she did too, we thought that it would

Written Assignment 6

813 words - 4 pages Written Assignment 6: Workshop Training Proposal “Behold leaf cutter ants. At the command of their queen, the ants march in lockstep, cut leaves from rainforest trees, and, in a perfectly ordered line, carry the right number of tasty leaves in their mandibles back to the colony and their discerning queen” (Wetfeet, 2012). That is how Wetfeet, a career advice website, describes the role of a Supply Chain Account Manager. Supply Chain

The Case for Change

1278 words - 6 pages years. As a result, the company has suffered with much pressure to sustain a competitive advantage. In this case study, you will gain knowledge on the strategies Modern Appliances has implicated for change as well as its effectiveness to change the overall culture of the organization. Case for Change at Modern Appliances Inc. Modern Appliances had managed to stay competitive within its market due to its strict control systems. However, the

Effectuation

1003 words - 5 pages get the sellable products and services established You need them to start your business but eventually you shift away from effectual logic. effectuation IS NOT a system to tell you what to do an algorithm “not planning” a way to launch an entire business This document is intended to be introduced in an educational workshop as one of several supporting materials. Version 0.9. Copyright © 2011 The Rector and Visitors of the

Related Papers

Build A Bear Case Study

693 words - 3 pages BUILD-A-BEAR CASE STUDY NAME: INSTITUTION; COURSE: PROFESSOR: DATE: From my analysis of the background information provided in the textbook, I would classify Maxine Clark as an ENTP (Extraversion, Intuition, Thinking, and Perceiving) falling under the intuitive type. People of this personality type interact with people, are open to possibilities, analytical and flexible (Nelson & Quick, 2011, pp. 118-119). The interactive nature of

The Study Of Child Development Through A Visual Arts Workshop

8245 words - 33 pages -hour class encounters in preschool. A survey also showed that all those interviewed were willing to participate in a visual arts workshop and their parents were willing to expose them to the said program.Though the barangay provides extra curricular activities that do promote Youth Empowerment such as athletic leagues, low cost preschool education, youth-run organizations, none of these engage the visual arts and target the youth members three

Characteristics Of To Build A Fire

1113 words - 5 pages The characteristics of To Build a fire The Six characteristics of the imagery of jack London’s to build a fire helps me understand the spiritual aspect of my relationship with nature. The way the story to build a fire is written helps me better understand all the events that happen to the man. Jack London’s way of describing gives you a perfect picture of how a place looks, how the man feels, or just makes you feel the agony and suspense held

A Position Paper On The “Internet Of Things”

825 words - 4 pages A Position Paper on the "Internet of Things""The Internet of Things has the potential to change the world, just as the Internet did. Maybe even more so (Ashton, 2009)." The Internet of Things (IoT) is the integration of physical devices via internet connection. According to Cisco System (2011), more things are connecting to the internet than people. It predicts the number to increase from 12.5 billion in 2010 to 50 billion by 2020, representing