The paper “ Business Strategy Plan for Parrot Toys” is a well-turned example of the business plan on marketing. The educational toys and programs industry in Australia consists of companies involved in manufacturing, wholesaling, and retailing of toys and games. The main products in the industry include infants, girls' and boys' toys; educational toys, board games, and puzzles. However, video game products such as games, consoles, and accessories are not included in this industry. The Australian toy industry is among the first in the world to engage in emerging technology (Lisosky, 2001).
Whilst the major players in the industry merge in order to increase and penetrate the global market, the high growth, and development potential in educational toys continue to allow the emergence of new globally-focused ventures. As of today in Australia, the educational focus is to build emotional intelligence, resilience and positive self esteem in children. Thus, the industry ensures the products are revolutionary, innovative, and designed for the radical educational practices, to enable children identify, understand, and be able to manage their feelings comfortably and a fun way. What’ s more, Langer (2004) observes that the Australia educational toy market is relatively unscathed, even during the global financial crisis.
Moreover, the anticipated digitalization of the industry in the future provides platforms for emergence of more business enterprises. Lisosky (2001), points that the sales of the toy industry in Australia increase every year. This due to the fact that educational toys are considered as one of the most needed household expenses. In addition, households in Australia are said to employ varying strategies to ensure they do not cut back on educational toy purchases.
However, one of the major challenges in the educational toy industry in Australia is cheaper imports. Since the beginning of market liberalization in Australia, imported educational toys especially from Asian markets such as Japan flowed in the country. Considering that these products benefit from lower production costs available in their home countries, they cost much cheaper in Australia than local products. However, statistics have proven that local brands are most favored by Australians giving local producers a key competitive advantage.
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