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Prepared by: Aalaa bakr

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Aalaa Bakr

on 13 August 2014

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Transcript of Prepared by: Aalaa bakr

Prepared by: Aalaa bakr
Prepared to: Dr.Awny
Date: 12-5-2014

Outline
Application questions
Introduction
Kazoo's Business Plan
Points of differentiation
Discussion questions
Introduction
Kazoo's Business Plan
Diana Nelson
Decided to buy a business instead of starting one from scratch.
Out-thought giant competitors such as Walmart, Toys "R" Us...etc.
"I gambled everything to buy a toy store"
An entrepreneur
Impose differentiation strategy by:
Offering unique products and services.
Building strong relationships with vendors.
Providing more channels for customers to purchase their products, by opening a Yahoo! store online and building e-commerce site and image
Avoid price competition with the big guys.
Points of differentiation
1. Welcomes medical professionals.
2. Kazoo's store design is unique.
3. Focuses on customer service.
4. Special in selling educational, nonviolent toys for birth to 12-year-old children.
5. Frequent updating to inventory.
Discussion questions
To what extent do you sense that Diana Nelson got up to speed quickly on the dynamics of the toy industry when she took over kazoo and company in 1998? What impact would it have had on the ultimate success of kazoo if Nelson had spent more time initially focused on the specifics of her business rather than gaining a complete understanding of the toy industry as part of her work to carefully develop a business plan?
Answer:
Question 1:

• Diana Nelson familiarized herself with the toy industry very quickly, which made Kazoo and Company the number one store in Denver within the first four years.

• If Nelson had spent more time initially focused on the specifics of her business rather than gaining a complete understanding of the toy industry, she would have been driven out of business. Because basically her success was based on a differentiation strategy which filled a gap in the market.
Discussion questions
Question 2:
Could she have convinced investors?
It wasn’t easy for her to get the money together to close the deal.

Very strong competition.
Yes, she could have convinced investors.
Who needed to believe that the business plan would work?
Investors

Employees and staff

Most importantly, believe in oneself

How does an entrepreneur`s level of belief in his or her own business plan affect how successful the business is?
An entrepreneur`s level of belief in his or her own business plan is crucial particularly in the first 4 years. As 33% of business fail in the initial phase, therefore a strong belief to the business plan is required.
Discussion questions
Question 3:
Based on the information contained in the case, write the one-page executive summary of kazoo’s original business plan.
Answer:
Took a unique route.

Minimizing competition.

Expanding target markets.

Priortrize the customer.

Preparing for the worst.
Discussion questions
Question 4:
What is drop shipping?
What are the advantages and the risks to engage in drop-shipping arrangements with its vendors?
Thank you
It is a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer.
Benefits
Eliminates some duplication of effort, since only one warehouse will pick, pack and ship the product.

This approach can reduce total inventory management and shipping costs.

It will strengthen the relationship between Kazoo and its vendors

Risks
Backordering may occur when a seller places a shipment request with a wholesaler, but the product is sold out.

Drop shipping has also featured prominently in some internet-based home business scams. In such view, as Kazoo and Company offers an online service, spams like that can cost them to lose customers’ loyalty.

Awards
Full transcript