Building a Bear Workshop - Essay Example

The owner understands the importance of cost monitoring when it comes to purchasing and production and will likely continue these trends over the next five to ten years. Having a strategic-focused management system is the key to ensuring a proper expansion.

            If the business conducts regular market research using focus groups or interviews with target customers, it will likely find more success in identifying social and buying trends early in order to gain market share in the toy market. Further, growth in Internet usage in developing countries such as India, China, and Pakistan will provide even more customers in an environment that is convenient. Through agreements with different distribution agencies, Build A Bear will probably be able to find low-cost distribution to ensure that many international customers are able to buy the products and have them delivered in a timely fashion.

            If the business remains focused on product rather than pricing, higher resource (financial) consumers will likely recognize the brand and have a loyalty that can be built up over the next five years. If Maxine Clark recognizes the importance of advertising and is able to keep supply chain costs low, the company will likely gain market share in the next five to ten years with a diverse product line.