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Business Philosophy and Ethics - Marketing Strategy

In this final assignment, you will compile the previous four (4) assignments, addressing the feedback from your professor, as well as adding the marketing strategies.

Write an 4-5 page paper in which you:

(The Executive summary should be at least 1 page and the rest can be at least a paragraph)
1. Write an executive summary of your marketing plan.
2. Provide the company's branding, pricing, and distribution plan.
3. Provide the IMC and customer satisfaction plan
4. Discuss the company's competitors, and its strengths and weaknesses
5. Determine the differentiation strategy in relation to your closest competitor
6. Assess the macro-environmental issues (legal, technological, social, and economic) trends with which the company must operate.
7. Identify the most significant trend to impact the business and discuss how the company intends to minimize or capitalize on this trend.

Solution Preview

1. Executive Summary.
The brand SafeToy expresses the greatest concerns of buyers of toys. Every parent is concerned about the safety of toys. SafeToy is safe because of its design, its chemical composition, and its compliance with international and US safety standards. Even though the pricing strategy is penetration pricing, the prices will support the "safe" positioning of SafeToy products. SafeToy will use push-pull strategy which will enable it to increase its sales rapidly. The company has selected three national distributors and three smaller distributors. These distributors will be motivated through attractive trade discounts. Further, the retailers will also get attractive discounts on list price. This forms the push strategy of the company. The promotion of the company, especially the advertisements, publicity, public relations, and personal selling will form the pull strategy. The push-pull strategy will help quick penetration of the target market and allow SafeToy to achieve the targets of the company. SafeToy will also sell its products through three toy websites www.ustoy.com/, www.toysrusinc.com › Safety‎, and www.fatbraintoys.com/.
The strategy of SafeToy supports the objectives of distributors and retailers. They want safe products. SafeToy's integrated marketing strategy integrates the message, outlook, emblem, color, and execution of different marketing communications. Television advertising, newspapers, publicly, public relations, and sales person deliver a similar message. There is an integration of communication from SafeToy. The marketing promotion strategy will consist of advertising, publicity, personal selling, and sales promotion. There will be an integration of these communications. Public relations will issue press releases and send excellent videos about SafeToy products to the main news channels. There will be integration among all the channels of marketing communication used by SafeToy. Customer satisfaction will be measured through regular market research and surveys. The closest competitor of SafeToy is Hasbro. Small molded plastic toy makers will not be able to compete with SafeToy on the basis of quality. But large toy makers will make toys of comparable quality. The differentiation is superiority in design and safety. The business environment is favorable to SafeToy. Its safety standards are higher than mandatory standards, the society encourages the purchase of safe toys, and the economic recovery will lead to improved purchases. SafeToy has to begin manufacturing latest technology toys. This includes toys that have computerized parts, computer games, and internet based games. (379 words)

2.
Branding Strategy: The global branding strategy plan is based on global toy shopping objectives. One of the main concerns of customers in the global market is that the toys should be safe for their children. SafeToy is intended to position the company as one that takes special efforts to make our toys safe. The toys will not hurt children. For example, the designs of colored puzzles will be made in such a way that even if one child throws a piece at another, they will not cause injury. The weight and design will make them safe. The chemicals used in the toys and the molding process will be ...

Solution Summary

The answer to this problem explains contemporary marketing. The references related to the answer are also included.

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