Playful Times Toys Company - Research Paper Example

Executive Summary The origin of the company is traced back from the post-war affluence, to the current times of ‘You’ve Never Had it so Good’ days of the Conservative government and Harold MacMillan. In this case, the existence of opportunities for industry and manufacturing were found to be abundant. This report, in relation to the research report by Hatfield Market Research Consultants, it highlights areas of significance within the report and covers their relevance. It does so by bringing out the reasons and importance of applying different methodology, and also on various recommendation made within the report. At the end of the report, further recommendations are made, or justification on the current recommendations made by Hatfield Market Research Consultants. Therefore, it is well structured and clearly brought out to give the meaning on the findings achieved in the research study, carried out by Hatfield Market Research Consultants. Introduction In every child’s life, toys have been considered to be part of them, and this has been traced back since 1000 B. C (Harper, 2009 p67). This has been passed from one generation to another as parents desire the best for their children, and hence, including the toys they normally play with at their own free time. When tracing the history of toys, it is found that the first appearance of kites was in China and then stone yo –yos was in Greece. The first patent for a doll came out in early 1840, and the speaking doll followed in 1887 (Harper, 2007 p102). This speaking doll was brought into existence with assistance from Thomas Edison and also the latest technology, known as phonograph. This is a huge break-through in terms of advancement in technology and different innovative measures, which have brought difference in competition, particularly with matters concerning the toy market. Appropriateness of the Secondary Data Collection and Analysis a. Appropriateness of Quantitative Technique in the Research The use of quantitative research technique in such market research was appropriate because the management was supposed: To know the market intensity and the demand of their toys produced, so that they can make reliable decisions. To outline a target audience within the market, and this is supposed to be achieved by determining the exact proportion of the audience in relevance to their specific behaviors, attitudes, intentions, and probably the overall knowledge that is related to the health concern. They were also supposed to find out whether there are specific determinants that are to predict behaviors of the audience at the identified and statistically significant intensity. Considering the finding achieved within the research study, a quantitative market research generally was involved on the following basis: A large group on individuals was used in the surveying, and in this case, they were categorized in terms of age. A structured questionnaire was used that was predominantly equipped with closed-ended questions. From the research description, it has been found out that the population of interest for Playful Times Toys is mothers with children at school. A fieldwork of the study, which was undertaken between 1st and 15th December 2006, saw the completion of 1250 face to face form of interviews. At this level, a sample size of 1250 individuals who were in line with the industry respondents and norms were preferred for the research, by applying a simple random sample. Considering the inputs of a survey expert is a vital aspect that is needed within the design and the process of conducting a quantitative survey. Before the study is launched, issues related to designing an appropriate sample are supposed to be considered (Nigel, 2010 p121). Looking at the results of the research, it is clear indicated that valid and reliable measures were used, and a pretest study was conducted before the overall survey study is launched. b. Appropriateness of Qualitative Technique in the Research Qualitative research is a form of investigation that involves the analyzing of information that is normally passed through means like language and behavior within their natural settings (Nigel, 2010 p54). Therefore, it is a method used for the purpose of ensuring that all expressive information that did not get its place within the study, through quantitative technique, are captured. This could consist of data about the feelings, beliefs, motivations, and probably that are underlying the behavioral aspect of the respondents. From the research, it is found out that the Managing Director of Playful Times, Fred Foster, has arranged that the crèche run at the company site can be used for research. He also ensures that the parents of children who are registered with the nursery are contacted and incorporated within the study as part of the focus groups. Observation was used in the research, and this was applied on various occasions, especially where there was a variety of behavioral aspects and also cultural basis. This was necessary for the purpose of reducing cases of biasness and improving on the reliability of the findings (Nigel, 2010 p66). Appraising the Research Sampling Technique Research sampling is a process of identifying the subject of study, and in this research study the sampling technique used was the quota sampling (Nigel, 2010 p85). This is a purposive sampling technique that normally ensures that given groups are sufficiently characterized in the study, and this is supposed to done through the projection of a quota. Considering this research report by Hatfield Market Research Consultants, it is clearly indicated that the quota used fixed for each subgroup, and it was based on the total numbers of each identified group in the market. This sampling technique can be considered to be the best way of determining future advancement in the Toy market. The only problem that comes with it is the fact that the resultant findings cannot be generalizability within the whole global market because it is non probability sampling technique (Marder, 1997 p14). Within Playful Times Toys research, quota sampling can be regarded as a form of proportionate stratified sampling. This is where a prearranged proportion of individuals are sampled from different groups, but this has to done on a basis of convenience. Quota sampling technique can be applied on the basis of the following reasons, and they have to be critically in line with main purpose of the research. a. Quota sampling allows the researchers to sample a subgroup that is of great importance with much interest to the overall study. Therefore, this type of sampling technique can be considered to be ideal if the main study aims to explore a characteristic or a trait of a given selected subgroup, and in this case are children. b. Quota sampling technique also allows the study researchers to examine the existing relationships between the selected study subgroups. In this Hatfield Market Research Consultants report, traits of a certain subgroup (children) interact directly with other traits of another subgroup (parents). Therefore, the application of the quota sampling technique can be considered to be viable. Since this application is in favor of cases where only the selected traits of the market are taken into account in forming the study subjects, it is not always that this type of sampling technique can be totally representative of the market. This is so, because sometime in the process of sampling subgroups in the market, there are some traits within the identified sample that may be overrepresented in the overall research. This means that in this study, where factors like gender, religion, and socioeconomic status can be considered as the basis of the market of study, the final study sample may have distorted exact representation of race, age, educational achievement, and even marital status (Nigel, 2010 pp100-102). The Collection and Analysis of the Primary Data The collection and analysis of the primary has clear indicated that the main purpose of the research was all about providing the company, Playful Times Toys, with the foundation on which the management will be able to understand the cut – through of the new range of toys in the market and finally become popular. Therefore, this research took a conclusive methodology, and that is why both Qualitative and Quantitative techniques were involved in acquiring data that is supposed to enable Playful Times Toys to be confident and straight forward when making decisions concerning market of the toys. The use of questionnaires has been considered to a significant tool in this research, as it involved the aspect of getting a representative figure of respondent to answer a collection of questions that are believed to play an important role in making a proper judgment by the company’s management. Therefore, apart from the overall idea of collecting information for decision making by the company’s management team, it has also been used as a marketing tool (ICC/ESOMAR, 2008 pp25-37). Assessment of the Conclusion and Report Recommendations From the conclusion of the report, it is clearly indicated that the market for toys is declining slightly. This was as the results of the analysis carried out on parents, who were interviewed and were aware of the Playful Times brand. It also shows that the same parents were positively disposed towards Playful Times brand. Furthermore, the report indicates that based on the parents’ positive view of the quality and reputation of the Playful Times product, a large number of the market said to be in line with Playful Times Products. About 60% said they would buy an electronic teddy bear made by Playful Times and 70 % said they would buy some type of Playful Times product. This indicates that an electronic teddy bear produced by Playful Times would be likely to succeed in the market. The report also indicates that there are some causes that are bringing in a significant concern, especially when introducing a new product to market. One of these issues is the aspect of low level of awareness of the brand among the research subject, where only about 36% of the research subjects were aware of the brand. Although this does not agree with the results achieved from the qualitative research, they showed that some respondents were aware of the Playful Times brand. Therefore, this indicates that the company’s brand has a good reputation all over the market. From the recommendations of the report, it had been accepted that Hatfield Market Research Consultants were supposed to identify possible courses of action to be taken. One of them is that on the basis of the quantitative and qualitative research a potential market for an electronic teddy bear had been identified and need to be produced. This is supposed to be accompanied by an intensive promotional campaign with the purpose of supporting the product and improve the overall awareness of the Playful Times brand, especially when the product is new in the market. Therefore, a television campaign is recommended to be a very comprehensive way of raising awareness, and also bringing the new product to the attention of the market (Malcolm, 2007 p97). Presentation of the Report Report writing is a process that needs to be applied on daily basis, especially in the business world where competition is a basis breaking through the market. Therefore, is routine in all sectors of doing business, and a specific structure needs to be followed so that the set objectives and goals are critically achieved. Considering the Hatfield Market Research Consultants report, the reasons and the main objective of the report were clearly identified and incorporated within the report. The researchers, Hatfield Market Research Consultants, were able to clearly bring out the idea of identifying the niche in the overall market, and critically determine ways of breaking through such markets. They have achieved this by coming up with a conclusion that the market for toys is declining slightly, and therefore, something is need to be done to ensure that the company still get hold of the market. It is at the same intensity that various recommendations concerning the introduction of new products in the market that had been made to the company’s management. This shows that the report has explored the most import parts of the research, and therefore, it leaves the whole work to the management of the company to implement the report and make sure that all that have been recommended are achieved. Conclusion The report has displayed a clear role that the management of Playful Times Toys Company should play in ensuring that the market percentage is increased, and also find new ways of introducing the new product into the market. This is so because, the report indicates that there are some causes that are bringing in a significant concern, especially when introducing a new product to market. One of these issues is the aspect of low level of awareness of the brand among the research subject, where only about 36% of the research subjects were aware of the brand. Although this does not agree with the results achieved from the qualitative research, they showed that some respondents were aware of the Playful Times brand. Therefore, this indicates that the company’s brand has a good reputation all over the market. Recommendations Considering the results achieved from the quantitative and qualitative research, it is recommended that a potential market for an electronic teddy bear must be identified and be produced. Therefore, I recommend that all the suggestions presented by Hatfield Market Research Consultants be followed. This means that an intensive promotional campaign should be initiated with the purpose of supporting the product and improve the overall awareness of the Playful Times brand, especially when the product is new in the market. Hence, a television campaign is recommended to be a very comprehensive way of raising awareness, and also bringing the new product to the attention of the market. References Macquarie, E., 2005, The market research toolbox: a concise guide for beginners (2nd ed.). New York: SAGE Publishers.  McDonald Malcolm, 2007, Marketing Plans (6th ed.), Oxford, England: Butterworth-Heinemann,  ICC/ESOMAR, 2008, International Code on Market and Social Research. ICC/ESOMAR Amsterdam, the Netherlands, 4th ed.  Bradley Nigel, 2010, Marketing Research. Tools and Techniques, Oxford University Press, Oxford. Marder Eric, 1997, The Laws of Choice—Predicting Customer Behavior (The Free Press division of Simon and Schuster. Oxford University Press, Oxford. 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