In order to ensure that our goals align with the values of the company and the long-term objectives– fulfilling the “relevant” characteristics– with more customers purchasing our products, profits will increase and the company as a whole will become more and more well-known, so this goal definitely aligns with our values. However, it’s important to note that the quality of Care Bears merchandise will still be maintained as it is a promise to both new and loyal customers. Lastly, the “time-based” facet will be accomplished by setting an ambitious end date of a year to clarify our task prioritization of promoting Care Bears locally, regionally, and globally as well as increase motivation of our employees to assist in accomplishing this aim. By utilizing the foundation of marketing and sales promotion, Care Bears will make its way back to the global market and once again hit peak popularity as the top 10 toy company. Thus, by using the SMART goals and other direct marketing objectives, we are confident in ensuring that Care Bears will both satisfy our buyers and meet short-term and long-term
LEGO is one of the most well known toy companies in the world due to their famous interlocking brick system. However, The company was not always producing brick building sets with a variety of fun and unique themes, for kids and adults alike. Even though they found toy fame from their lego bricks, They started off as any other toy company in the early 1930’s, and grew dramatically from their. (when referring to advancements in toy production, and the growth of the company.)
Corporations have the ability to promote more ethical behavior by
The iconic toymaker’s outstanding innovation has led the company to sweeping success decade after decade, shaping, and being shaped by, the themes
The organization’s strong brand management, operations strategy and global reach make Hasbro and ideal company to manufacture and distribute a new toy product.
In the past years Mattel Incorporation, probably the largest toy corporation in the world, dealed with a differentiation of the international product with respect to the one that it was marketed originally, maintaining and increasing its strength thanks to its ability to innovate, maintaining unchanged the core line products of the firm which are the keys of its success. This started to became necessary in the last decade, when toy industry started to be compromised by children habit to move away from traditional toys and start using electronic games. (acquisition of radica games) This company present a structured portfolio that includes brands such as Barbie®, Hot Wheels®, American Girl®, Radica® and Fisher-Price® whose products are mostly
The toy company moved to operations to China due to low labor cost, but lack of oversight and safety issues caught on with the company reputation, resulting in 19 million of toys being recalled worldwide (Walsh). Ever since then, Mattel’s revenue has declined consistently over the years due to decreased consumer confidence and technological changes. In 2014, Mattel’s toy brands sale all fell from the previous year. “Barbie toys sale fell 16% last year; Fisher-Price Brands fell 11% in the fourth-quarter and down 13% for the year; American Girl brand saw sales drop 4% in the fourth-quarter, and 2% for the year.” Barbie-branded toys fell (Whitehouse).
On top of that, Mattel is the largest toy companies in the world (Sethi, S. P. ,2002). Mattel is a toy manufacturing company in USA which designs, manufactures and markets a wide range of famous toys for children of all ages. The company’s products include a number of core toy lines such as Barbie dolls (debuted in 1959),Hot Wheels die-cast vehicles (1968),Fisher-Price (an infant and preschool toys),Master of the Universe toys and board games such as Uno, Scrabble,… Establish in 1945, the company was named after Harold Matt Matson and Elliot Handler-
They began by selling picture frames and continued to grow into the Mattel that is known by the world today (Mattel.com). They grew into the Mattel that is known for being the best at making toys and games that are loved by kids and families alike. Mattel offers a wide range of games and products for every age group of boys, girls, and adults. The most popular brands with Mattel’s consumers are Barbie, American Girl, Fisher Price and Hot Wheels. Each of these brands comes with a wide range of subcategories within that one brand Mattel’s success is represented through their sustainable competitive advantage
Mattel has many core brands that are popular worldwide. However, exploring more technologically advanced and interactive toys, can prove challenging. Technology, has become an innate part of the family environment. Therefore, it is imperative to first, analyze the application, there are many approaches to exploring more technologically advanced and interactive toys to develop its product strategy. For example, if we take a look at Hello Barbie, it does not exactly fit into the smart and creative category.
Besides, key players like Mattel have experienced a dip in sales in recent years. For instance, Mattel’s Barbie revenue dropped by 15% in 2015. Such declining sales are a common feature in the maturity stage of industry life cycle. However, the industry is still recording significant growth of sales of digital games and toys following technological advances (Follett 238). Besides, emerging markets and Latin America and Asia promise positive growth in the next few years.
In her article “Business Ethics 101 in 2013” Kerri Fivecoat-Cambell touches upon the issue of business ethics, stating that today much has changed in business ethics due to many ethical breaches connected with new technology. The author is for a well-formulated code of business ethics, an ethical culture in today’s organizations which can help people handle many problems in their workplaces and diminish many problems connected with breaches of the mentioned code.
Ethical issues is defined as a situation that requires an organization to deal with what is right or wrong and also based on responsibilities people should behave (ethical issue, 2016). Proper ethical practice is a decent organizational culture that businesses should adopt. Through this practice, an organization can empower its brand to develop great relationships and reach high levels of trust with its clients towards its products and services. In addition, an appropriate moral and legitimate establishment can empower to help entrepreneurial firms from prosecution issues, for example, protected innovation, moral guidelines, managing providers of products and services. (Andrea Hayley, 2016) Establish a Strong Ethical Culture While our business is fairly new, we need to establish a strong ethical culture among the organizational management team.
To celebrate this milestone, we will be celebrating with different promotions all over United States. One of the ideas we want to communicate with our customers is that Play-Doh is not any toy, but one capable of creating unforgettable memories while also providing the benefit of developing different learning skills. Some of these include strengthening children’s hand muscles, developing two-handed skills, fine motor skills, pre-writing skills and hand-eye coordination, and finally, keeping children busy and stretching their attention span. We want the selling strategy of this campaign to appeal through feelings and emotions. We want to provoke in current and potential customers the desire to buy Play-Doh for their children to use.
Promotion of ethical standards in business relationships in a proactive way will lead to a more proactive business environment, and the company will have a more productive also provides a comfortable work environment. An organization which does not place value on ethical standards, where theft, dishonesty, fraud, and other unethical practices are present, the success of the company will suffer. Ethical relationships with customers have a direct impact on the success of a company; a company that provides good customer service, quality products, and positive relationships will lead to customer loyalty.
