The paper "Marketing Plan for Amber Toy " is an outstanding example of a marketing case study. The report conducts a complete analysis for Amber Toy who has won a substantial amount in the recent past and is looking for a switchover from her profession of a preschool teacher to businesswomen and planning to set up an Educational Toy shop in her locality. As per the different factors that have been analysed in detail, there are different factors that are favouring the setting up of an Educational Toy shop and certain unfavourable factors as well.
Amber Toy should go for opening an Educational Toy shop since she has an added advantage of her connections with preschools in her locality and his ultimate love for children which shall definitely help her in selling more of her products due to her passion for the work. Since Amber Toy will be new to the business she needs to take intense care to follow all the local market regulations and trade unions prevailing in the market. Her business is based on a direct customer-seller relationship hence, love for children is an important factor and further Amber Toy should ensure to provide full customer satisfaction to its customers and try to provide best quality products at a reasonable price.
Further, good after-sale service for educational toys which has some kind of gadgets involved in it will add to the reputation of the shop. Amber Toy needs to consider all internal and external factors minutely. Amber Toy should try to build a strong financial base before starting up its business by making proper loan arrangements and proper utilisation of its owned fund and make maximum use of its available resources.
One factor which is equally important is to hire salesperson with a charming and good personality in order to boost up its sales to the local retailers. Opening a website of its own and further displaying its products with price and discounts will also help in boosting up the sales to a considerable extent. Amber Toy should initially try to include both branded and Chinese educational toys in its outlet so as to provide a larger variety and variant in its product list. Amber Toy needs to fight with the intense competition already present in the market.
It has to compete with larger giants who had already captured a larger portion of the targeted market like the Walmart, Toys R US etc. who sell their products globally and opened their own exclusive outlets in different locations to cater to the need of individual or retail customers and also offer bulk discounts to the wholesaler. Amber Toy tries to negotiate with direct suppliers than going through intermediaries as it will make the products at a much cheaper rate since the middlemen commission on the same and intermediary mark-ups will be eliminated.
An extensive campaign of the shop should be done initially via print media, word of mouth, internet and local diaries to attract a larger customer base and boosts up its sales. Advertisements and discounts should be more extensive during holiday times of schools to attract more individual customers. Amber Toy should also try to bring new schemes and combo packs or something different from its competitors to make it a different outlet from the existing outlets in the locality.
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