...FISHER PRICE TOYS I. PROBLEM This case study is a microcosm of the many concepts of marketing, many of them far removed from what appears to be a simple price-point problem. That price-point problem is stated in the beginning – a mold price for a projected toy can't be made for a budgeted price, thereby resulting in the need for a higher price. This was a strong point of departure for the Fisher-Price company, since few of its items had sold for more than $5. Hence Fisher-Price must decide whether it should go head with the production the ATV Explorer for the launch of the ATV explorer in its 1971-72 line of products. II. SITUATIONAL ANALYSIS Strengths (Internal) • Fisher-Price is a leading toy manufacturer, producing a wide range of quality toys at moderate prices. It has a reputation for intrinsic play value, good value for money, ingenuity, strong construction and action. • Fisher-Price has relatively good market for specialty toys. It has grown substantially over recent years due to product and pricing strategy. • Fisher-Price is the best know brand for toys and has a larger market share (64.7%) than any other company and is the brand being brought most often (82.7%). • Fisher-Price ranks first in brand loyalty - it has a good brand loyalty (60.5%). • The company is a well-run organization and has acquired professional management expertise from diverse industries. • The number of children under six years of age, who plays with toys, is on...
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...Fisher-Price Toys, Inc. Fisher-Price, a toy company that was founded in 1930, was known for its durable, safe, high-quality, and fun products sold at low to moderate prices, and had established itself as a leading producer of toys over the years. In fact, 82.7% of participants in a Redbook study named Fisher-Price the brand of pre-school toys that they buy the most often. In the summer of 1970, marketing vice president Jack Asthalter found himself confronted with a difficult decision: whether to produce a new ATV Explorer toy. Ashalter’s production staff had just informed him that the ATV Explorer could no longer be profitably distributed at the preconceived price of $12, and would need to be sold at a price of $18.50 after markups. Asthalter was unsure whether there would be sufficient demand for the ATV at this new price, as all concept tests and market research sessions had been conducted with the idea that the ATV Explorer would be sold at a retail price of $12. Additionally, because most of Fisher-Price’s toys were priced below $5, internal opposition would need to be overcome in order to manufacture the toy. Ashalter had several options: produce the ATV Explorer and sell it at $18.50; lower the price by removing a part but in the process sacrifice quality, going against traditional company policy; market and advertise the ATV Explorer as a single item rather than as part of a line of toys; milk the ATV Explorer and increase the price by $.50 or a $1 and use the added...
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...1) Estrategia de mercadotecnica: Producto: Caracteristicas que buscan las ninas que tenga su muneca: 1) Que este de moda y que sea la mas innovadora, para obtener reconocimiento en su circulo social. 2) Que cuente con una amplia variedad de accesorios y ropa. 3) Que muestre un rostro de ternura caracteristico de los bebes. 4) Que sea lo mas real posible con mecanismos que les permitan reproducir la satisfaccion de las necesidades fisiologicas de los bebes. Principales marcas de Mattel> Little Mommy: Despues de Nenuco, es la marca mas recordada por las ninas. Cuenta con una amplia linea de accesorios. (Pertenece a Fisher Price – seguridad y calidad). Miracle Baby: Cuenta con muchos accesorios , como babero, sonaja y mamila, ademas de que cuenta con caracteristicas fisiologicas. Otras marcas: Princesa Alexa y Bebe Estrella> Ofrecen caracteristicas unicas como certificado de nacimiento y adopcion, aparte de contar con accesorios innovadores. Bebe estrella es percibida como la muneca mas abrazable. Niveles de producto> Base: Es el concepto principal de cuidar algo que es suyo. Estimulan las emociones de las ninas relacionados a la maternidad, que imitaran las actitudes de sus madres. Se desarrolla el respeto, reponsabilidad y cuidado de algo que les pertenece. Real: Las distintas caracteristicas que tienen las muñecas son de textura de cuerpo suave o duro, variedad de tamanos, cabello imitacion natural, y amplia variedad de ropa y accesorios...
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...market capital is 8.67B. The question about whether they will bw able to retain this position or not, however, is debatable. Strong brand equity – Building brand equity requires significant effort. Mattel has both single brand and multi brand identity. (Phillips, 2003) Loyal customer base – Mattel has been in the market since the 1950’s. They have a large and loyal customer base. (Warner, Aug 5, 1996) Wide range of products - Mattel believes its products are among the most widely recognized toy products in the world. Mattel’s portfolio of brands and products are grouped in the following categories: Mattel Girls & Boys Brands - Including Batman , and Kung Fu Panda products, and games and puzzles. Fisher-Price Brands — Collectively Core Fisher-Price, Fisher-Price Friend and Power Wheels. American Girl Brands —including Just Like You, the historical collection, and Bitty Baby. Strong distribution line – Mattel is believed to have a cost effective, efficient distribution line. Corporate responsibilities - Mattel has implemented several projects aimed at reducing energy and water use, shrinking product packaging, and reducing waste, according to the firm’s 2009 Global Citizen Report. Mattel has also established the Mattel Foundation, which promotes philanthropy and community involvement among...
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...Case: Fisher-Price Toys, Inc. 1. Basic information 1) Company: Fisher-Price Toys, Inc. (Industry: Child toys) 2) Business dilemma: a rash marketing decision has to be made on carrying out whether a new quality product (product name: ATV Explorer) at exceptional high price or a new less-quality product at moderate price 2. Business dilemma 1) Key problem: 1) price-point: Cost for a projected toy can't be made within budget, resulting in a much higher price ($18.5) than planned. High price disobeys the traditional brand image of the Fisher-Price company –less-than-$5 convention. 2) Marketing strategy: launch the ATV explorer whether as an independent product or as a new product in an existing product line, and corresponding advertising/promotion strategy 2) Fisher-Price must decide quickly before August to catch the sale peak: 1) trade-off between product quality and price; 2) Independence of the product 3. Case analysis 1) Current Market strategy (“4P” / “4C”) 1) Product → Commodity: innovative products / safe, durable and educational 2) Price → Cost: moderate price / good value for money 3) Place → Channel: Aggressive to increase the market reach and improve sales 4) Promotion → Communication: focused strategies for advertisement and promotion of differentiated range and group of products 2) SWOT analysis 1) Strengths (Internal) 1- Internal operation ...
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...I I IBUSINES s I lscHooL 9-512-085 REV: MAY 25,2012 ANAT KEINAN JILL AVERY FIONA WILSON N,IICHAEI- NORToN EILEEN FISHER: Repositioning the Brand Hilary Old, vice president for communications, was one part excited and one part nervous, so she took a moment to adjust her scarf before she entered the meeting. It was ]anuary of 201,0 and she and her colleagues were about to review the first retail sales results following a major strategic initiative to reposition and evolve the EILEEN FISHER brand. 2009 marked the 25tri anniversary of EILEEN FISHER and the occasion gave the company the impetus to pause and assess its history. The company had enjoyed phenomenal success in its first quarter century: its growth in revenues and profits had been driven by both the skong brand loyalty of its core customers, and the opening of fifty retail stores dedicated to the brand. The company was consistently recognized as oue of the best companies to work for and had an impressive environmental sustainability and social responsibility- record. However, a startling discovery had emerged. The median customer age was currently at 59 and increasing each year, keeping pace with the age of the company's visionary founder, Eileen Fisher. Despite the company's best efforts to design age-less clothing to appeal to multiple generations, as Fisher herself aged, so too had the customer base. The company found itself stereotyped as a brand for older, and, to some extent, customers with...
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...1. What is the Fisher hypothesis? Is it Valid? Explain The Fisher hypothesis (sometimes called the Fisher effect) is the proposition by Irving Fisher that the real interest rate is independent of monetary measures, specifically the nominal interest rate and the expected inflation rate. The term "nominal interest rate" refers to the actual interest rate giving the amount by which a number of shillings owed by a borrower to a lender grows over time; the term "real interest rate" refers to the amount by which the purchasing power of those shillings grows over time—that is, the real interest rate is the nominal interest rate adjusted for the effect of inflation on the purchasing power of the loan proceeds. The relation between the nominal and real rates is given by the Fisher equation, which is This states that the real interest rate () equals the nominal interest rate () minus the expected inflation rate (). Here all the rates are continuously compounded. For rates based on simple interest, the Fisher equation takes the form where is the simple nominal interest rate and is the simple real interest rate; this equation is well approximated by using the simple rates in the previous equation provided all three percentage rates are relatively small. If the real rate is assumed, as per the Fisher hypothesis, to be constant, the nominal rate must change point-for-point when rises or falls. Thus, the Fisher effect states that there will be a one-for-one adjustment of the nominal...
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...9 -5 1 2 -0 8 5 REV: MAY 25, 2012 ANAT KEINAN JILL AVERY FIONA WILSON MICHAEL NORTON EILEEN FISHER: Repositioning the Brand Hilary Old, vice president for communications, was one part excited and one part nervous, so she took a moment to adjust her scarf before she entered the meeting. It was January of 2010 and she and her colleagues were about to review the first retail sales results following a major strategic initiative to reposition and evolve the EILEEN FISHER brand. 2009 marked the 25th anniversary of EILEEN FISHER and the occasion gave the company the impetus to pause and assess its history. The company had enjoyed phenomenal success in its first quarter century: its growth in revenues and profits had been driven by both the strong brand loyalty of its core customers, and the opening of fifty retail stores dedicated to the brand. The company was consistently recognized as one of the best companies to work for and had an impressive environmental sustainability and social responsibility record. However, a startling discovery had emerged. The median customer age was currently at 59 and increasing each year, keeping pace with the age of the company’s visionary founder, Eileen Fisher. Despite the company’s best efforts to design age-less clothing to appeal to multiple generations, as Fisher herself aged, so too had the customer base. The company found itself stereotyped as a brand for older, and, to some extent, customers with larger body types. Old...
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...Eileen Fisher: Repositioning the Brand Eileen Fisher is an American clothing designer that founded her own private clothing company, Eileen Fisher Inc., in 1984. Her inspiration came from her own struggles of finding stylish yet comfortable clothing that she could wear daily to work. With no previous sewing or fashion experience and with only $350 in her pocket, Fisher created her company with the hopes of offering solutions to women who shared her problem. The focus of her designs was to create simple garments that are easy to wear and that allowed customers to creatively mix and match their clothing pieces in order to make the outfits their own. Within no time, her designs were a huge success among women that related to the designer’s own lifestyle and vision. The brand’s target customer was defined as wealthy, middle aged, Baby Boomer women who represented ages from 45 to 64. An effective tactic that Fisher used was to focus on what she’s doing within her company and on the relationship building with her customers instead of focusing on what the competition is doing. This proved to be very successful for her company and resulted in the increase of customer loyalty. Upon its 25-year anniversary, Eileen Fisher Inc. realized that their core customers who remained loyal to the brand throughout all these years, now mostly formed part of an older audience. Even though the designer frequently innovated her styles to adapt to the changing seasons and latest trends, the brand...
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...on the same day, he was out on a road trip with his friends, Ron Wilson and Nichol John to Saskatoon, where Gail Miller was raped and murdered. They were on their way to Albert Cadrain’s house who was also a friend of David. Since none of them knew Saskatoon that well, they ended up getting lost and asking for directions at a motel. On their way, a man stopped them because his car was stuck and he needed help. In attempt to help him their car too got stuck and they had to call a tow truck. They waited at the man’s house and arrived at Albert’s house at 9 am in the morning, half an hour after Gail’s body had been found a block away from Albert’s house. Larry fisher lived in Albert’s basement and when he arrived home his wife accused him of murdering Gail Miller and later she said that he looked like a guilty man. Larry fisher was found guilty of raping eight women, years later after David was convicted. David Milgaard spent 23 years in prison and was punished for something he did not do. Joyce Milgaard fought relentlessly to prove her son’s innocence and sold everything she owned including her car and home. She spent the day doing three jobs and the nights gathering evidence. She travelled all around Canada looking for help, gathering evidence, meeting witnesses and convincing them to testify, seeking public sympathy and support, meeting politicians and lawyers, organizing vigils, writing letters, interviewing for magazines and television etc. She became a Christian scientist...
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...7: Tom’s Used Mustangs Applied Managerial Statistics I. Executive Summary The data file named “MUSTANGS”, contains observations on 35 used Mustangs with a variation of 10 different characteristics[1]. This file was used to prepare a report on the influence of various options on asking price and to relay how this information could be used to set prices on used Mustangs. Statistical analysis by Hypothesis Testing and Multiple Regression Analysis was performed on the asking prices for used Mustangs and it was found that there are five independent variables that affect the selling price of used Mustangs: • If the car is a convertible or not • If the car is a GT model or not • Age of the car in years • Odometer reading in miles • Number of cylinders in the engine II. Introduction Research suggests that pricing strategies can have a huge influence on company profits.[2] Several customers of Tom’s Used Mustangs have mentioned that asking prices are way out of line with the rest of the market. These prices may be too high or too low, and are never close to the going rate. It had been determined that asking prices for the used Mustangs were based on an informal scheme and has not proved to be as effective as anticipated. In researching competitors, and because the physical characteristics are many, there has been some difficulty pinpointing a useful pricing strategy. To effectively find a pricing scheme...
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...business around the world. Are the environmental challenges and ethical dilemmas Fisher & Paykel currently face outsourcing manufacturing to a developing country beneficial to Australia? Globalisation can be described as the intertwining processes of the world. It is not only an economic process, which involves rising communication and integration of all countries’ economies through the growth in international trade and investment, but also the rapid cultural, social, technological and industrial exchange between nations (IYP, 2002, p. 11). Globalisation presents significant opportunities, as well as many challenges, for business around the globe. Many companies are currently making the decision to move production offshore to lower expenditure and increase profits. However, there are numerous environmental challenges, as well as ethical dilemmas involved with outsourcing. Throughout this essay I will show how globalisation is connected with the present issue of New Zealand’s ‘Fisher & Paykel’ (F&P) Brisbane plant outsourcing manufacturing of their whitegoods to Thailand. Shown by exploring the reasons and challenges involved both in the business environment and ethical arena. Such ethical issues under scrutiny at present are the loss of Australian jobs and the replacement of low wage employment offshore. After the analysis of various sources of information, it will be clear that the move by Fisher & Paykel, to commence production offshore, is in fact beneficial to the Australian...
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...HLT 362V Exercise 36 Questions to be graded 1-10 1. The researchers found a significant difference between the two groups (control and treatment) for change in mobility of the women with osteoarthritis (OA) over 12 weeks with the results of F ₍₁‚ ₂₂₎ = 9.619, p=0.005. Discuss each aspect of these results. Answer: The F value at 5% level of significance shows a significant difference between the control and the treatment groups. Therefore, the null hypothesis should be rejected because the p value 0.005 is less than 0.05 which means that the control and the treatment groups are different. 2. State the null hypothesis for the Baird and Sands (2004) study that focuses on the effect of the GI PMR treatment on the patients’ mobility level. Should the null hypotheses be rejected for the difference the two groups in change in mobility scores over 12 weeks? Provide a rationale for your answer. Answer: The null hypothesis would be that the means between the two groups, the control group and the treatment group will be equal. Since the p value is 0.005 0.01, the result is not statistically significant. Therefore, I would accept the null hypothesis because there is no difference between the control group and the treatment group. 6. Can ANOVA be used to test proposed relationship or predicted correlations between variables in a single group? Provide a rationale for your answer. Answer: No. ANOVA cannot be used to test proposed relationship or predicted correlations...
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...Individual Assignment: Understanding Business Research Terms and Concepts: Part 3 Instructions Please highlight (like I just did) the correct answer and upload the entire document to the Assignments link by the due date in the syllabus. This is the only version of the assignment that will be graded. Do not use the matching shown on the Materials tab page for Week 5! 1 Which of the following shapes best represents a normal distribution as it is depicted graphically? A. Square B. Bell C. Triangle D. Star E. Hat For questions 2 through 4, consider the following array of numbers: 5 6 7 7 7 8 8 9 9 9 10 15 19 20 21 2. In the array provided, what is the mode? A. 7 B. 9 C. 10 D. 15 E. Both A and B 3. In the array provided, what is the median? A. 7 B. 9 C. 10 D. 15 E. Both A and B 4. In the array provided, what is the mean? A. 7 B. 9 C. 10 D. 15 E. Both A and B 5. The difference between the smallest and the largest values in a distribution is the _____. A. mean B. median C. mode D. range E. deviation 6. Which of the following is a bar chart arranged in increasing order by size? A. Control chart B. Simple bar chart C. Pareto diagram D. Histogram 7. Which of the following hypotheses is a null hypothesis? A. There is no difference in the monthly grocery bills of families with one child and families with two children B. Grocery bills vary according to the number of meals eaten outside the home C. Families with two children...
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...Analysis of Research Report Mara Morris Statistical Applications HCS/438 May 4, 2014 Silvio Di Gregorio Analysis of Research Report Introduction The article “How much do parents know about first aid for burns” presents results of a two-month study conducted at University Hospital of Wales in Cardiff. The premise of the study was to verify if a relationship existed between the general knowledge of initial first-aid treatment for burns and age, gender, education, ethnicity and socioeconomic status. The Statistical Procedures Mentioned in the Study Pearson’s chi-squared test was used to determine if there was any correlation between genders, education level, age and first-aid knowledge. The use of logistic regression was employed so that all variables could be compared. There was found to be insufficient data collected to evaluate any relationship based on ethnicity. The Conclusions Reached in the Study It was concluded that people of lower socioeconomic status were less likely to have knowledge of initial first-aid treatment for burns. They were also less likely to have had any first-aid training. Persons of a higher socioeconomic status were more likely to have received first-aid education, which 40% of those stated they had received their first-aid training through their workplace. The study did not show any statistical significance for gender or age in the basic knowledge of first-aid for burns, but did show that prior first-aid training reflected better knowledge...
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