Graduation Year

2020

Graduation Month

May

Document Type

Professional Paper - Campus Access Only

School or Department

Business School

Major

Accounting

Faculty Mentor Department

Business School

Faculty Mentor

Prof. Amy Minto

Keywords

Funko, Strategy, Accounting, Management

Subject Categories

Business Administration, Management, and Operations

Abstract

Funko Inc. is an up-and-comer in the toy and game industry, with the resources and opportunity to capture a greater market share and increase the brand recognition. Funko specializes in manufacturing and designing pop-culture figures and has also begun to branch into production of apparel and board games. Funko’s mission is to help people take their fandom offline. Funko has also only recently became a publicly traded company and, the financials show that there is potential and capacity for growth. The main strategy of Funko entails the rapid creation of highly differentiated products, bobblehead figurines remaining the most popular. In addition to Funko’s healthy financial position it has had excellent marketing and success in with a heavy social media presence and good luck with sponsorships and endorsements. Funko also has a profound ability to get products form design to shelf in as little as 70 days. The combination of the aforementioned resources places Funko Inc. in a unique position to capitalize on opportunities in the industry and expand the company’s brand recognition/reputation.

We recommend Funko expand into the Asian market, due to the organization’s financial strength, manufacturing competencies, and marketing techniques. China and other Asian countries continue to be relatively untapped by Funko. Asia has a large social media culture, and a massive obsession with pop-culture. The cultural interests in Asia creates great marketing opportunities across that will generate buzz for Funko. Given the potential the Asian market offers and Funko’s resources internally we recommend expand sales operations. The company is looking to keep growing and capturing the market. The inventory turnover, overall positive financial health, competitive advantage, and the importance of pop culture in Asia signal that the overall climate is primed for expansion. Proper implementation of the expansion into Asia will provide Funko with increased revenues, market share, and brand recognition.

Honors College Research Project

No

GLI Capstone Project

no

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© Copyright 2020 Emily L. Wade, Braden Loyola, Noah McDuffie, and Hong Shen Lee