Case study “Build-A-Bear ”
Ans 1 – “Build a Bear” did really well in last decade just because of their innovative and creative approach and but I think the first step of why the revenue were down last year is Just because of the Competition in the market and unavailability of targeting the specific customer . To determine the fall down in the revenue first of all we have to clear all the research questions and by taking timely and focused marketing research . first of all we have to determine relative market share is fairly straight forward and will find the company sale after the 2011 . also we have to look at which company in toy industry gain profit in that period of time and what strategy they choose and then we have to look on the all the data and the information from critics and media , internet and report published in magazine and in the next step we will collect some data from primary sources like interviewing the customers or making online survey or by making suggestion box in our stores and have questions like what do u like most here and what u don’t like . also by targeting our existing or current customers we can have their feedback . By collecting all the data we can make better decisions why we didn’t do well in the 2011 . To understand the customer need we have to target our focused group , we have to rethink about strategy about consumer behavior and we have to know what consumer want from us and how can we give him quality product in fair amount of money for example may be Build a bear focused much on building Bears and Dolls and another animals but as the technology is introducing the toys market is getting very high-tech and there is new technology in every toys that fascinated the kids so by surveying and getting all information about the need of consumer the decision can be taken to regain the market. As the growth of Clark’s come from the same store so they have to be more focus on Build a bear rather than spending more money on Build...
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