Marketing Plan

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Marketing Plan

First we analyze the current market situation. The current political factors are in favor of launching molded toys. The tax policy favors new businesses, the employment laws are strong but not prohibitive, even though there are requirements for minimum wages, the labor laws are conducive to business growth. The environmental regulations are moderate and the firm making molded plastic toys can comply with the environment regulations. Further, the trade regulations and tariffs are not prohibitive and still enable the setting up of plastic molding facilities abroad. Most importantly, there is an overall political stability. Further, the economic growth rate is weak, the effects of recession still affect the economy and this is bound to have an adverse effect on the molded plastic toys demand. There are social factors that can affect the molded plastic toys industry.

Greater health consciousness means that molded plastic toys must be made of safe materials and should not have sharp edges that can harm children. Further, the demographic trends of the USA show that the proportion of children in the population is declining. This might mean lower demand for molded plastic toys. However, the parents of children are very conscious of safety and so they are likely to buy more molded plastic toys if these are perceived to be safe for children. The technology has helped the development of molded plastic toys in several ways. First, computer based design has helped improve the designs and attractiveness of molded plastic toys. Second, technology has enabled better quality control measures and production of safer toys for children. Third, technology has enabled the automation of the plastic molding process. In addition, there is a greater awareness of consumers of molded plastic toys that they should not purchase toys made by companies that abuse labor in foreign countries.

if we conduct market analysis we find that molded plastic toys can be targeted at different segments of children. The segments include children below the age of 5 years, children between the ages of 5 and 10 years and children above the age of 10. The products made by the company will be role playing games, miniature toys, and dolls. The industry structure is that of monopolistic competition. There is a large number of manufacturers that made toys of different types but each seeks to differentiate its products. For instance, Hasbro also makes board games, computer and video games and musical toothbrush. Mattel makes excellent dolls and Louis Mars makes excellent toys. Walt Disney is also a large manufacturer of molded plastic toys and dolls, Bandai is a Japan based toy maker that cars but makes very popular molded plastic toys. Denmark based Lego toys is making some excellent molded plastic toys, Playmobil has made molded plastic toys for children. It makes flexible toys.

If we consider Porters five forces, there is intense competition in the molded plastic ...