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The product “Brrrd” was a great success for the company, but
now after three years of its success, the sales are going down, and customers
are losing their interest in the product due to lack of any improvement or
innovation. So, the problem for the company is to introduce new product after
finalizing their way forward that are, they want to become a language learning content
company or a fun filled toy company.
Issue Analysis in Search of a Second Act
As mentioned above in the problem identification that
company is dealing with sales decline. Moreover, the issue is that they have
just a single product to sustain in the market and they are not able to bring
in innovation to produce more attractive & innovative products.
SWOT in Search of a Second Act
|
Strengths: In China, they have a manufacturing partner A strong brand has been built with great first product A good distribution system |
Weaknesses: They are not in the business with long enough experience They lack innovation as compared to other products in language
learning market Brrrd has few issues as being a language learning toy |
|
Opportunities: Brrrd product comes with only one language. They have opportunity to
develop this product with more languages to expand to other markets Being bilingual company, they can try to develop more innovative
products in different languages to cover global education and learning tools
market |
Threats: They recognized as fun toy company due to Brrrd, so developing more
serious language learning content tools will get the fun out of their
business There are established competitors in the business to challenge
company with its entry into education and language learning market |
Actionable Recommendations in Search of a Second Act
They should make more smart and innovative products for more
people to cover large markets
They should adopt the language and education side of
business more seriously as compared to toy business
They must include new products with innovative features in
different languages so that they are able to reach more customers with
different language backgrounds
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