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Toy swot analysis

04/01/2021 Client: saad24vbs Deadline: 7 Days

Running Head: Wish You Wood 2


Abstract


Toy stores are the best in this world. Crafted wooden toys are the unique ones which includes


lot of effort. Wish you wood toy store is the best crafted toy store near Piney Lake. Jim and Pam


Klein are applying different strategies to develop their business. Despite their efforts, they are not


seeing profits. Hence, there is a need for them to check whether their strategies are right or not. To


do this, they first need to understand their business thoroughly. This can be done by developing a


SWOT Analysis.


SWOT Analysis is a planning technique which helps the business holders to identify the areas


they are perfect and at the same time to identify the areas they are weak based on the circumstances.


SWOT is: Strengths, Weaknesses, Operations and Threats. This Analysis covers all the four areas


which helps to improve the functioning of the business.


Wish you wood toy store needs a SWOT Analysis to know about what they need to grow their


sales.


Keywords: SWOT, planning, toy store, change


Running Head: Wish You Wood 3


The first question for the case study is to prepare a SWOT Analysis for Wish You Wood Toy


Store. Below is the SWOT Analysis for the Wish you wood toy store. This SWOT Analysis is


developed by examining every aspect that is needed to help make a viable recommendation for the


store.


SWOT ANALYSIS


Strengths:


1. The toy store is still financially strong because of the regular customers they have.


Financial wise they are in the starting level and their regular customers are their strength


to take their store to next level.


2. Basically, the store is located near piney lake which is a visiting place for many people.


So, most of their customers will be the visitors who comes to enjoy their time with the


family. Location of the store near a tourist kind of place is another strength.


3. Choosing their items that needs to be sold is the reason for their uniqueness. They are


investing their time to select their store products.


Weakness:


1. Depending more on the profits is the weakness of the store. This need for profits is making


them choose the option of being a partner is actually not bringing them much profits and


is decreasing their toy value.


2. Encouraging only the local customers is another point. Reviews given by local customers


will be known only in that town but not to the world out there.


Opportunities:


Running Head: Wish You Wood 4


1. Taking a feedback will help the store to know what the customer wants. Using this, they


can add the products that the customer wishes for.


2. Letting the people know about the store using the advertisement platform through


pamphlets, visiting cards etc.


3. Opening small franchises like kiosk stores in other cities in order to get the fame for their


crafted toys.


Threats:


1. Being a partner with the bestselling online shopping website is a threat sometimes. Top


most sites will bring down the value of the product if there are no sales on the particular


product.


2. Concentrating only on the single theme of the toys will not attract customers. Different


models are needed.


SWOT CHART FOR WISH YOU WOOD TOY STORE


Strengths -Location -Personal Selection


Weakness -Depending more


on profits -Encouraging local


customers only


Oppurtunities -Feedbacks


-Advertisements -Expansion


Threats -Online shopping


partners -Single theme


Running Head: Wish You Wood 5


RECOMMENDATION


Question two of the case study ask that I recommend a strategy based on the SWOT analysis for


Wish You Wood Toy Store. Based on the SWOT Analysis that was developed above, I suggest


them to choose the strategy which completely checks on Customer needs and experiences.


The concentration of the owners, Jim and Pam Klein, should be more on collecting the customer


experiences. Knowing about what customer needs is important. They need to have feedback forms


on their stores or else at least they need to update their system in a way to send a feedback form


directly to their mobile once they make a purchase. In this way, all the experiences of the customers


will be collected and will improve the sales if they make changes according to their wish.


Second point that needs concentration is: Advertising the store. Pamphlets is the coolest option.


They need to print out the pamphlets with the images of the products available along with the store


information which might attract people from different cities to buy the products. Visiting cards


also need to be attached along with the pamphlets.


Third point is: instead of having only toy section, lottery section, painting section etc. it is better


to have small kid furniture section too as it is a wood store. Every parent will be eager to decorate


their kids room with the unique furniture. This might also bring customers from different locations.


These points will help them to be successful, according to me. And when it comes to present


strategy, it must be changed, and they should follow concentrate on the purchases.


CONCLUSION


SWOT Analysis is a general planning which helps both the small and large organizations to


achieve their goals and earn huge profits. The chart that is developed for “wish you wood” store


Running Head: Wish You Wood 6


is based on the information given about the store. Following the above will help the store to reach


their goals.

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