Build-A-Bear Workshop SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Build-A-Bear Workshop, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Build-A-Bear Workshop to benchmark its business & performance as compared to the competitors, and make strategic improvements. Build-A-Bear Workshop is one of the leading brands in the media & entertainment sector.
The article below lists the Build-A-Bear Workshop SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Build-A-Bear Workshop SWOT Analysis:
In this article:
For Build-A-Bear Workshop, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Build-A-Bear Workshop looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Build-A-Bear Workshop :
1.The company has created a lot of sub-brands and expanded their reach to zoos and such other places
2.In terms of product offerings, the company has also expanded to gift cards, clothing accessories etc so as to reduce its dependence on teddy bears
3. Presence of stores all across the USA and other countries with over 400 stores worldwide. This coupled with the opportunity to order online means they have a very good distribution system
4.Advertising to increase brand awareness through commercials and short feature films
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Build-A-Bear Workshop SWOT Analysis:
1.”Create your own animal” statement has created a lot of legal problems for the company
2. The company must keep up with changing consumer preferences. Hence, the shelf-life for the toys is short
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Build-A-Bear Workshop SWOT Analysis:
1.To leverage its brand name and expand its reach further outside the US
2. To leverage the characters used in games etc. given the increase in animation as they have done with “Angry Birds”
3.Use media like animated commercial movies for promotion
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Build-A-Bear Workshop are as mentioned:
1.The electronics companies are slowly taking over the “gift” market
2. Moving preference of children towards more electro-mechanical toys
3. Threat posed by Chinese manufacturers in the toy market
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Build-A-Bear Workshop:
1. Annalee Dolls
2. Toys R Us
Hence this concludes the Build-A-Bear Workshop SWOT analysis.
Continue reading more about the brand/company.
|Build-A-Bear Workshop Overview|
Barclay and Manoil Manufacturing Company
Toy Brands & Manufacturers
Where Best Friends Are Made
|Build-A-Bear Workshop STP|
Girls (5-16 years) from the upper middle class
Allows children to make their own mascot
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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