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Marketing Plan for a Recession Proof Toy

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by

Leah Billig

on 31 March 2014

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Transcript of Marketing Plan for a Recession Proof Toy

The Toy Industry
What political, economic, socio-cultural, and technological factors affected the toy industry during the recent recession?
What marketing strategies were used by toy companies that did well during the recession?
What toys appeal to children all over the world?
What global issues have to be considered when designing a new toy?

Political
there has been in increase in production to China that has affected the quality of toys
increasing copyright issues
decreasing independent and retailing chains
Economic
budget cuts
inflation
demand has slightly decreased due to popularity in video games and tablets
Socio-Cultural
higher profits means more toys for children
people in cities more inclined to buy toys -less leisure time outside
Technological
with technology advancing there has been competition with app games
STEAM toys are in trend- there are more robotic toys being made, though they are expensive

Our New Toy- FunBlox
FunBlox
by Leah, Pablo, Brenda, and Jesus
They lowered their prices
they had toys that people would always want
their toys were practical

For boys, it is mostly toy cars and guns
For girls, it is mostly dolls and stuffed animals
will people buy the toy?
how much will it cost- how much are companies with similar products charging?
what resources and how much of those resources do we have to make the product(s)?

Political
Safety standards
trading policies
funding, grants, initiatives


Socio-Cultural
lifestyle trends
media views
brand image



Economic
competitor prices
local economy
foreign economy

Technological
global communications
technology access, licensing, patents
information and communications
Conduct a PEST analysis
Drawing


(On poster board)
Executive summary
Situation Analysis
Objectives
Marketing Strategies
Implementation
Evaluation and Control
See PEST analysis from before
To create a recession-proof toy for both boys and girls.
To gain 10% of the market for children’s toys by January 2015
Target Market: kids of all races and genders ages 1-5

Product
FunBlox- a non-toxic, polymer block puzzle for kids
Place
online and in stores
Price
$9.99
Promotion
Tv ads
Online ads

The production of the toy and the marketing plan will ensue.
The company will do a SWOT and PEST analysis every month to ensure that we are on track with our business plan.
This company makes toys for kids. We are trying to make a toy that will withstand the recession and continue to be a favorite toy for generations.
Write
What happens to the toy industry during a recession?
toy companies need to decide which toys to continue to sell and which ones to discontinue
toy companies need to lower their prices
How will the results of the PEST analysis help the committee decide whether to develop your toy?
If the PEST analysis shows that the toy will do well (if it will sell and how popular will it be), the committee will choose to develop the toy.
Group Picture
Full transcript