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In 600 words. Important note: needed this by Sunday afternoon Read and complete the case study titled“Wish You Wood Toy Store” below Read the entire case study and answer the2questions that immediatel
In 600 words. Important note: needed this by Sunday afternoon
Read and complete the case study titled“Wish You Wood Toy Store” below
Read the entire case study and answer the2questions that immediately follow it.
include references. plagiarism results in course termination so please use your own words.
Submission Details:
- Paper should be approximately 500-750 words total.
- APA format for your citations when writing up the case.
Below is the topic by studyin
Wish You Wood is a toy boutique located in the main shopping
strip of a resort town near Piney Lake. People whoown cabins near the lake or come to visit the local statepark enjoy browsing through the town’s stores, where theypick up pottery, landscape paintings, and Wish You Wood’sbeautifully crafted wooden toys. For these shoppers, WishYou Wood is more than a store; it is a destination they associatewith family and fun.The store’s owners, Jim and Pam Klein, personally selectthe toys from craftspeople and toymakers around theworld. They enjoy their regular customers but believe sellingmostly to vacationers has limited the company’s growth.They decided that the lowest-cost way to expand would beto sell toys online. However, after several years, they had toadmit that traffic to the store’s website was unimpressive.Thanks to e-mail and Facebook reminders, they were luringsome of their loyal in-store shoppers to the site to makeoff-season purchases, but few other people looking for toysever found Wish You Wood online.Jim and Pam concluded that the next-best way to sellonline would be to partner with Amazon.com. Amazon’sMarketplace service lets other retailers sell products onAmazon. The Kleins signed an agreement to list the store’smost popular items with Amazon. For example, if a shopperis searching for wooden dollhouses, Wish You Wood’s dollhouseswill be included in the search results. A customerwho chooses to buy from Wish You Wood places the orderright on Amazon’s website. Under Amazon’s participationagreement, the listings must be honest and may not link toWish You Wood’s own website or invite phone calls fromcustomers. In exchange for giving the products exposure onthe site, Amazon charges a monthly fee plus a commissionon each sale.Initially, Jim and Pam were thrilled about their decisionto partner with Amazon. They tracked each month’ssales and compared them with in-store sales. In the firstfive months, sales jumped 45 percent, mainly becauseof sales on Amazon. Then, suddenly, sales of populartoy train sets, which were particularly profitable, stoppedaltogether. Puzzled, Jim visited Amazon to make sure thetrain sets were still listed. To his surprise, he found thatthe train set was there, at the usual price of $149, listedright after the same set available directly from Amazon,at $129. He and Pam concluded that shoppers were nowbuying the product directly from Amazon. It appeared thattheir store had helped Amazon identify a product consumersvalue.The Kleins worried that they needed a new strategy.If they matched Amazon’s price, they would lose most ofthe profit on their most popular items. Wish You Wood wastoo small of a business to negotiate better prices from itssuppliers. If the store didn’t match Amazon’s price, it wouldcontinue to lose sales at the Amazon site. Jim and Pam wonderedwhether they should pull out of Amazon altogetheror find a way to continue working with the partner that hadbecome a competitor. They also considered rethinkingwhich toys to offer on Amazon.DISCUSSION QUESTIONS1. Prepare a SWOT analysis for Wish You Wood, based onthe information given.2. Using the SWOT analysis, what general corporatestrategy would you recommend for Wish You Wood?Should the store continue or change its current
