Prepared by Sergei Dmitriev
The Vermont Teddy Bear Co., Inc.
The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEOIntroductionVermont Teddy Bear Company was founded in 1981 by John Sorinto selling handsewn bears out of a pushcart in the streets of Burlington, Vermont. Since this time, the company[s focus has been to design, manufacture, and direct market the best teddy bears made in America using quality American materials and labor.Until 1994, Vermont Teddy Bear experienced a great deal of success and profitability. Problems arose in 1995. Since 1995, the company has had two CEOs. It changed its name to The Great American Teddy Bear Company and then changed it back to The Vermont Teddy Bear Company when customers got confused
1. Current Situations
The Vermont Teddy Bear Co., Inc. is the pioneer in direct marketing the Bear-Gram® gift delivery service, and the leading maker of hand-crafted, American-made Teddy Bears. The Company also services corporate accounts with customized Vermont-made as well as imported bears for the corporate affinity and wholesale markets.
Vermont Teddy Bear is a nationally recognized brand fueled currently through live reads with popular radio personalities in all 50 states, and in more than 120 markets. The Vermont Teddy Bear Company sells directly to customers though its 1-800-829-BEAR phone line (staffed by world-famous Bear-Counselors®), as well as online at www.VermontTeddyBear.com and at its two factory retail stores that receive over 150,000 visitors a year.
By offering its customers a creative alternative to flowers through its Bear-Gram gift delivery service, The Vermont Teddy Bear Company is gaining an ever growing share of the $15 billion dollar floral delivery industry. Well positioned with a solid balance sheet to pursue an aggressive growth strategy, the Company has been growing at an impressive rate. In this fiscal year, over 450,000 Bear-Gram gifts will be... [continues]
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(2007, 01). The Vermont Teddy Bear. StudyMode.com. Retrieved 01, 2007, from http://www.studymode.com/essays/Vermont-Teddy-Bear-104270.html
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