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Essay / Research Paper Abstract
This 5 page paper examines Vermont Teddy Inc., founder of the Bear-Gram. The paper looks at the economic, political, legal, technological and socio-cultural influences and how the company had responded to these influences. The bibliography cites 5 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEverteddy.rtf
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Unformatted sample text from the term paper:
opportunities and minimise threats. One company that appears to be doing well, even when the economy was slowing down is Vermont Teddy Bear Inc., the inventors of the Bear-Gram (ConsumerMarketing
Biz, 2003). If we look at factors such as economic, technological, political, legal and socio-cultural we can appreciate the range and diversity of factors. Economic With all goods there
will be a relationship between the level of disposable income and the level of purchases made. Where disposable income falls, for example, if interest rates rise, the level of expenditure
on goods will fall or shift to lower cost items, unless they are giffen goods. Less essential items will be impacted more than essential items. Teddy bears are not essential
items, and as such are likely to be effected negatively when disposable income levels fall. In recent years there have been difficult economic condition, but this has resulted in low
interest rates, meaning disposable income has been quite high. As consumer confidence has been low, the level of spending on large items may be undertaken more carefully, but the teddy
bears by Vermont Teddy Inc., are not large expenditure items. However, when we look at the strategy there are several measures taken to protect against the fall in sales due
to economic factors. The company started in 1981, and have grown by using differentiation, offering a range of bears for different budgets, and tailoring them to add value to
meet different needs for different occasions when the customers are less budget conscious, such as weddings, graduation and special occasions (Goodgold, 2002). There are also operation impacts. The company faces
increasing economic pressure to create profit. This has been achieved, for example, the gross profit in 1999 was $13.1 million, by 2003 the profit had consistently risen to $24.8 million
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