Essay on Competitive Position of Build-A-Bear Workshop
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 to professor Eisner, Korn, Baugher, and graduate …show more content…
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