BINGO WHOLEESALER

A STRATGEIC PLAN
 1. Executive Summary

Bingo wholesale started its business with motto, "No Tricks No Shticks," is self-financed brand

opened their first store more than a year ago in Brooklyn, New York. Company has developed a

large variety of products. Company’s strategy plan is to create a strong blend between business

tactics and strategic moves performed by the managers to satisfy customers. A detailed plan has

been designed to guide the company for its short- and long-term goals and plans.

2. An Outline Comparing Various Strategic School of Thoughts

 Design School: Design methodology of describes the strategy as series of different

operations to find the perfect combination between internal strengths and possible

outcomes.

 Positioning School: According to positioning school, the process of strategy is an

analytical process accompanies companies’ market strategy and position.

 Planning school: Planning process is unlike other schools; it attaches the process of

strategy with SWOT analyses and other checklists.

 Learning school or Emergent school: According to learning school strategy is an

emergent process through an already existed process. That means the existence of the

strategy comes under the spotlight when company achieves its goals.

 Configuration School: It is the process of that transforms the organization into

something new.

 Cultural School: Cultural School describes the strategic process as cooperative and

collective process. Where employees’ opinion counts.

  Cognitive School: It is a mental process that focuses on the workers mental ability to

accept the change and enforcement of new policy.

 Environmental School: This school presents the strategic process as reaction and

response to the focused environment.

 Power School: According to this school of thought the process of negotiations is

strategy, where insight of every employee matters.

 Entrepreneurial School: It is a visionary process that deals with the importance given to

the role played by the leaders.

3. Strategic Plan

3.1 Mission Statement

To provide the customer with the high-quality products, and market these products kids find

enjoyable, will ensure other benefits as well, and add value to the customers once they have

purchased it.

3.2 Vision Statement

The vision is to provide the kids and other people with joy and simple on the faces of our

customers. The motto is clear "No Tricks No Shticks."

3.3 Market Analysis

This new strategic plan has divided the market for Bingo into two unique categories:

 Individual Consumers: This group is for parents and other relatives or event kids

purchasing toys for kids.

  Wholesale Purchasers: This segment is for schools, baby care centers and other

commercial business purchasing the commodities for their customers.

This new strategic has proposed direct selling method for the company. Selling direct to the

customers rather than relying on the traditional layered system of distribution. This requires

company to put more efforts on sale and greater margins as compared to traditional methods.

However, for the first couple of years this system will be more costly for company. Once the

trust is developed this will save many additional costs. On the other had providing the real-life

shopping experience to the customers will help the company in earning customer’s loyalty. As

far as the marketing is concerned the strategic plan fully acknowledges the effectiveness of

digital mediums for marketing purpose, hence digital market will improve the company’s

penetration for the future[ CITATION Nat17 \l 1033 ].

3.4 SWOT Analysis

Toys are fascinating commodities that often are associated with happiness of people especially

kids. Hence there is always scope for massive revenues when it comes to toys industry. The

accompanying SWOT investigation takes holistic view of the medium-term standpoint for the

toy business comprehensively. The accompanying toy advertise examination has been directed

by toy specialists who are effectively associated with the business, this isn't a scholarly exercise

from our point of view:

 STRENGTHS:

 The desire of young ones to play and desire of parents to develop, educate and

entertain their kids for their better future are the key factors for Bingo to seize. This
 will provide the company with the sustained profits and customers loyalty. The fact of

the matter is that kids are the fundamental for the toys company.

 Bingo is willing to provide the company with the Costco like customers experience.

They have recently launched a massive store where customers can directly engage

with company’s staff and get their hands on the products of their own desire.

 Bingo has large capacity and capability of manufacturing the wide variety of

products, the company is stand out in terms of its creativity.

 WEAKNESSES

 The fact of the matter is that Bingo is operating in an industry where client is highly over

reliant on never ending trend of development of new products. This can be a challenging

stuff for Bingo because products got old too early. In this way a natural shortcoming of

the worldwide toy industry is the gigantic speculation of center, cash and assets on items

which convey a minority of deals.

 OPPURTUNITIES:

 There is a world-wide trend of increase demand in the Toy industry. Bingo can get real

benefits if exploit the market in better way. Strong opportunities exist in the rapidly

growing digital medium where customers place the order online. Since bingo has the plan

to establish an effective online presence this will double the company’s sales.

 This obsession of rapid purchase in Toy industry is an ever- present opportunity for

Bingo.

 THREATS
 The biggest threat is that political leaderships are rapidly banning the use of plastic in

order save the natural environment. The backlash against the excessive and needless use

of plastics can real harm the company’s sales.

 Secondly, world has solely relied on China when it comes to production of toys, if the

trend remained the same this can pose serious threats to the Canadian industry. Moreover,

the US-China trade war can further harm the overall environment [ CITATION Toy20 \l

1033 ].

 GOALS

 Better Sales margins are company’s key goal. For the first few year the margins will be

less but latterly the margins will increase. The direct interaction will save the cost and

enhance the company’s margins.

 Another focus of the top leadership is strong market penetration relying on social and

digital media the focus here is to opt for the customer’s loyalty by daily interaction.

 Development of an open source enterprise collaboration platform supporting the creative

aspects of the business and harnessing the collaborative and productive endeavors of

business[ CITATION Toy17 \l 1033 ].

4. RECOMMENDATIONS:

4.1 SHORT TERM RECOMMENDATIONS:

 I would like to recommend that Bingo must focus on enhancing the internal

operations with the help of vertical communication. This will help company in

formulating the creative strategies and provide the workers with freedom of

expression they need.

  The company must diversify its production and provide the value at affordable price.

This will wave of the competition posed by the Chinses.

4.2 LONG TERM RECOMEDATIONS:

 I would like to recommend the mall practice for the company. Malls are often filled

with various sort of playable things and people often enjoy their kids paying visit to

shops. This will provide Bingo the chance to develop deep ties with the kids and

future parents. This can be a real competitive advantage for the brand if they are able

to do it accurately.

 I would like to recommend that Bingo must focus on the expansion first in other

states of US and later focus on capturing the emerging market with great potential to

earn massive returns.

5. Conclusion

The strategic plan focuses on the market competition exist in the current market. The fact of the

matter is that Bingo has great potential to capture market while remain ahead of its competitors.

For the longer period company need to focus more on mall centered shopping experience and

also look for the expansion with in and outside the company.
 6. References

Nate, H. (2017). Children's Educational Toys Business Plan. Retrieved from

https://www.bplans.com/childrens_educational_toys_business_plan/appendix_fc.php

Toy Industry Journal. (2020). Global Toy Industry: SWOT Analysis 2020-2025. Retrieved from

https://www.toyindustryjournal.com/?p=749

Toy Labs. (2017). OBJECTIVES AND GOALS. Retrieved from

https://www.toylabs.eu/objectives