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Essay / Research Paper Abstract
A 3 page paper that focuses on the strategies this company has used for growth and suggests other steps to increase growth. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: MM12_PGvttdy.rtf
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Unformatted sample text from the term paper:
Valentines Day, Mothers Day, and Christmas (Vincelette et al, 1998). Diversification included the acquisition of Calyx & Corolla, a floral mail order and catalog business, in September 2003 (TSG Equity
Partners, 2003). Traffic World wrote that it is the delivery strategy that drives growth for this company (ebusinessforun.com, 2002). The companys Bear-Gram, which is a "personalised, handmade Teddy Bear
in a special box--with air holes so the bear can breathe" is the companys strongest product (ebusinessforun.com, 2002). The niche market for this product is the individual who is late
buying a gift for someone special and men make up 70 percent of this market (ebusinessforun.com, 2002). Since FedEx is their carrier, the company moved a shipping center that included
a mini-assembly line to a warehouse next to the FedEx Superhub in Memphis (ebusinessforun.com, 2002). Vermont Teddy Bear needs to reduce the dependence on seasonal sales, which results in revenue,
sales and labor needs fluctuating between one quarter and the next. They have begun this process by diversifying products, i.e., acquiring Calyx & Corolla. The company also needs to look
for ways to differentiate itself from this very competitive and crowded industry. The companys greatest differentiating factor was its made in America policy and practice (Vincelette et al, 1998). Escalating
costs drove the company to begin importing some materials from overseas, which they report are of better quality (Vincelette et al, 1998). While the teddy bears are still all hand-made
in America, some of the raw materials are imported (Vincelette et al, 1998). At this time in history, many Americans are looking for "made in America" label. The company already
has a successful marketing program, relying mostly on radio advertising (Promo, 2004). In fact, 92 percent of Bear-Gram sales are the direct response to radio advertising, which is supported by
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