Market Segmentation, and Product Positioning Essay

For the enjoyment of this assignment, I am assuming myself as the owner of a shaping form victimize federation in United States that manufacturers, and distri onlyes elastic work toys through retailers across the country and around the world. The community is capitalizing on the inexpugnable growth in the childrens toys segment and planning to expand in an aggressive manner throughout the nation. The guild offers unique, world class and senior high schoolschool quality toys which appeal to children of all ages and nationalities around the world. The operations of the manufacturing plant rich person commenced and the quality of toys produced by my ships gild is comparable with or even cave in than those produced by the unclutter toy companies in the country. Mission StatementThe mission statement of my company is to bring fun and happiness to every child in the world. The mission statement focexercisings on three points. beginning it says that the company has the ob jective of brining fun and happiness. Second, the company is focused on children. triplet the company wants to become a global company to bring fun and happiness to every child in the world. The emphasis is on external growth and expansion. Foreign Market for My return and ServiceOne alien market for the toys of my country is France. France is already importing toys from the USA. at that place is a round market for safe and trendy ductile forge toys, and the toys make by my company comply with the requirements of the EU Toy Directive. The tie up with the French distributer is the first step in globalization. later my company entrust set up gross sales offices in different parts of the world. Later it testament open branches and also set up manufacturing operations in several parts of the world. selling PlanThe market plan for my company is to deceive three million pliant model toys during the first twelvemonth of operation and generate sales revenues of $45 million d uring the first year. This brand is found on the manufacturing capacity of my company and the expected sales figures from distributors. output The toys will be made from the finest quality plastic and use high quality additives imported from Germany. The toys will comply with the requirements of the U.S. Consumer Product Safety amelioration Act (CPSIA). The toys will ruminate the latest trends in toys. Price The value range of toys will range amidst $11 and $32. The average price of toys will be $15. Place The distribution of toys will be through with(p) by six national toy distributors. The toys will be usable in at least 230 toy stores all over the US.In addition, the toys will be accessible on at least quintuple websites that sell toys. In addition, iodine distributor will be prescribed in France who will market my toys in France. Promotion The toys will be advertised on internet banners, websites that sell toys, and social media sites frequented by children. There wi ll also be search engine advert and advertising on mobile phones. Personal selling will be make by company sales persons in selected twenty stores selling toys. In addition, company sales persons will also interact with distributors to ensure that distributors sell the toys through a large number of consumers. Potential AudiencesThe potential audiences for my marketing plan be children among the age of 3 and 12 in the US. These children require toys that atomic number 18 safe, attractive, and long lasting. Further, children also love to buy toys that reflect the latest trends. This may mean characters from the latest movies, comic books, or calculating machine games. The needs of the draw a bead on audience are fun, laughter, and light entertainment. Market subdivisionThe market segment for this product is children between the age of 3 and 12 years in the United States. Dolls will be targeted at girls, image game characters will be targeted at boys, and comic book characte rs will be targeted at children between 8 and 12. The rule for this segment is that molded plastic toys in general are preferred by children between the ages of 3 and 12 years. Girls prefer to play with dolls. Boys are interested in video game characters. Finally, comic book and comic strips are targeted at children between 8 and 12 as these children read comics and comic strips the toys establish on comic characters should be targeted at this segment. Target MarketThe target market will be children between the ages of 3 and 12 who are located in the six states where the distributors are located. The 230 retailers where the toys are sold are also located in the same states where the six distributors are located. The rationale for this target market is that our company has distribution and retailing access merely to those states. SWOT AnalysisStrengths The strengths of my company are excellent quality products. My company is financially strong. The products made by my company a re compliant with U.S. Consumer Product Safety Improvement Act (CPSIA), and EU Toy Directive. In addition, my company has distribution access to six states in the US. The agreements with six distributors ensure that my companys products have a comfortable market. Weaknesses The internet based sales are deplorable. There are no sales of molded toys in other parts of the country. Retailers in other states do not investment trust our toys. Our company does not have well-known brand recognition. Even though my company has appointed a distributor in France the sales in France are low. Opportunities My association has opportunities if it appoints to a greater extent distributors in the USA.Further, there is land available next to our existing facilities. If our company purchases the land the production of molded toys will increase three times. The larger volume of production at one location will enable my company to realize economies of scale. If my company appoints more distributors i n Europe, the sales of my company will increase. Threats There is strong competitor in the molded plastic toys market. Not only top toy makers but even small entrepreneurs make molded plastic toys. The frugal downturn leading to low disposable incomes is also a brat to toy sales. Changes in trends during the peak seasons can render large stocks unvendible and can lead to losses. Market PositionThe market positioning for the plastic molded toys made by my company is moderate in prices but high in quality. The plastic molded toys made by my company will be safer than, and better in quality than the products of Hasbro, Lego, and Tiger. The rationale for this schema is that the objective of my company is to persuade more distributors to carry our toys. When the quality of our toys is compared to those of top brands in the market, distributors agree to carry our brand. 5 Cs Strategic Marketing AnalysisWe carry out the 5 Cs strategic marketing analysis of my company in the follow ing manner Customers The customers are children between the age of 3 and 12. In several cases the purchase decisions are made by the parents. Children want plastic molded toys that bring them fun, joy, and happiness. Company My Company can fulfill the needs of children who want to buy plastic molded toys. My company keeps a close watch on market trends and the ever-changing requirements of children. My company can change its production at short hear and make exactly those plastic molded toys that the children demand. Competition Small plastic molded toy makers compete on price. They make and sell toys cheap. On the other hand each of the top toys making companies makes plastic molded toys.Companies such as Mattel, Hasbro, Bandai, Lego, Playmates Toys, and Tiger each compete in the plastic molded toys segment. Collaborator The collaborators of my company are the six distributors plus the distributor in France. The suppliers of plastic pellets are also our collaborators. The supplier s enable our company to use the highest quality of raw materials and make plastic molded toys of the highest quality. Context The background is that plastic molded toys are being imported at low prices. Barriers to trade have been removed because of WTO. The economy is recovering but the recuperation is still slow. The society approves plastic molded toys but looks down on children who play with plastic molded toys instead of electronic or computing device games. The technology is coming up with improved computer games and internet based games.ReferencesBell Melissa J. How to Make Molds for Plastic Toys (2013), retrieved on 23 October 2013 fromhttp//www.ehow.com/how_5426610_make-molds-plastic-toys.html mundane Motion, Making Magazine, Simple Molding and Casting for Toy Duplication (2013)retrieved on 23 October 2013 from http//www.dailymotion.com/video/xgjgfq_simple-molding-and-casting-for-toy-duplication_schoolYoutube, Moulding Process for plastic toys in mainland China by ODM Pr o (2013), retrieved on 23October 2013 from http//www.youtube.com/watch?v=NZh7VfxBmcw