Wish You Wood Toy Store Case Study

Running Head: Wish You Wood                                                                                         1                                                              

Wish You Wood Toy Store Case Study

Soumya Krishna Komati

New England College

MG5125 Leadership and change in Organization

Dr. Evette Hyder-Davis

Running Head: Wish You Wood                                                                                         2                                                              

Abstract:

There is a beautifully crafted wooden toy store located near Piney lake. Jim and Pam Klein are store owners, who are trying various approaches to expand their business. Regardless of their different strategies, they did not earn any profits. In this case, SWOT analysis is better option to find out new ways which helps to grow sales considering various factors.

SWOT analysis is a powerful tool helps to identify and analyze external and internal factors that effect business. SWOT stands for Strength, Weaknesses, Opportunities, Threats. Strength and Weaknesses are internal factors to company whereas Opportunities and Threats are external factors. This analysis helps to look at business in new ways and steers to new directions.

This case study includes SWOT analysis for Wish You Wood Toy Store and Strategy that I would recommend using SWOT analysis.

SWOT ANALYSIS FOR WISH YOU WOOD TOY STORE:

1. Strengths:

1. Store is located near Piney Lake, which is famous tourist spot
2. Toys are personally selected from around the world which makes them unique from others
3. Personally selected toys assure quality
4. They have regular customers who buys product during off season

1. Weaknesses:

1. Poor usage of online platform to lure people
2. Lack of advertising skills of their unique products
3. Not using regular customers to the mark, during off season
4. Not able to negotiate prices as it is small store
5. Limited sales as there is not much recognition outside the town

1. Opportunities:

Running Head: Wish You Wood                                                                                         3                                                              

1. As store has products purchased from around world, with better online platform it can enter global market
2. It can improve sales based on customer needs. for example, like Toy Train sets
3. By improving customer relationships to make regular customers purchase toys during offseason too.
4. Promoting business by offering discounts or promotional sales

1. Threats:

1. Large number of competitors in toy industry around world
2. Partnering with third party sites helped amazon to identify consumers value
3. Manufacturing products at low cost
4. Concentrating on various products instead of just toys

Recommendations using SWOT analysis:

        Upon completion of SWOT Analysis, I have come up with some recommendations that I believe will help the toy store to improve its sales and earn profits. As competitors in toy world are growing and store is in a small town, I recommend concentrating in variety products like paintings, decor items that would attract people for overall shopping experience at affordable income irrespective of age group. On another note, instead of partnering with third party sites it is better to use their own platform and promoting online business through ads on most visited sites, radio, television. It can increase sales by offering promotions or discounts with initial purchases to attract people who live far from the store. As motive of this store is to earn profits, I also recommend considering development strategy to increase its stores in new strategic places or plan to sell their products at different stores across world. Customer satisfaction survey plays an important role in understanding what customer needs. To increase sales of products customer satisfaction needs to be observed and products must update as needed.