Section 2-Assessment The assessment example(s) below can be used by centres, or alternatively centres can develop their own assessment. Day Dream Toy Company-A case study Background information The Day Dream Toy Company has a workforce of over 1,000 based in three different sites in the UK. The company was established in the early 1990s and its marketing activities are co-ordinated from its headquarters in Chester The original company produced a limited range of wooden toys aimed at the pre-school market. Its range of products was originally limited to wooden building bricks, simple wooden jigsaws and a limited selection of wooden animals. As the company became more established, the product range was expanded to include dolls\' houses and wooden train sets. In the early days the company sold through small, independent toys shops, but despite numerous attempts, it was unable to persuade any of the large chain stores to stock its products. Despite this, the company maintained a reasonable turnover and it slowly expanded its product portfolio to include a range for the 5-8 year old market. Disenchanted by its inability to become accepted by any of the larger chains, the company toyed with the idea of mail order selling. A catalogue was produced and distributed through some of the leading Sunday newspapers, and although sales increased, this was not a particularly successful venture. Mail order selling was dropped after only a year, but it did serve to bring the company\'s name to the attention of the public, and more importantly to the toy industry. The company\'s image of high quality toys, made from natural products appealed to the increasingly vocal environmental lobby, and at last, a leading department store chain agreed to stock Day Dream\'s products. This proved to be a lucrative agreement for Day Dream, and it helped the company expand during the late 1990s. The company\'s big break, however, came when the Welsh language TV channel SC4 introduced an animated series featuring an assortment of animal characters collectively known as the \'Country Cousins\'. Against fierce competition, Day Dream won the contract to make a limited range of merchandise featuring the characters nd the popularity of the series resulted in sales which were way beyond Day Dreams most optimistic expectation Following the success of \'Country Cousins\', ITV decided to give the series national airing, and in the lead up to the national launch, Day Dream expanded and developed its range of merchandise. At the same time, the company also introduced Country Cousins\' books and to this end, it acquired an ailing publishing company in Exeter October 2015 Assessment Support Pac/F TBX 34/CASPOO1 (Third Edition)
1.
The marketing is basically the planning approach to target the potential audience and to know their likes or dislikes, so that the target can be fulfilled with effective strategies. Also, the market strategies are well necessary to be formulated in the organization so to prevent any threats and overcome the marketing competitiveness.
The key characteristics are:
1. SWOT analysis
2. Targeting audience
3. Effective decision-making
4. Positioning of product
5. Budgeting
2.
The environment which is formulated by the individual under the straight influence of business is called Microenvironment. It basically works for the customer, it also includes suppliers, competitors and it is totally controlled by the organization.
Example: TOYs supplier can control this business to reach success as they are holding the supply chain of business.
The environment is maintained by the outside influence factors which certainly affect the organization\'s performance and it out of any control by the organization. If there is any change attempted it can lead to organizations threat also.
Example: In this case, Demographic is the major impact which may be not predicted but with proper marketing, it can be fixed.
3.
The purpose of marketing research is to know about the customers need and their areas which they are concentrating. It helps the organizations to target easily.
The importance of marketing is to stand in the market and earn maximum by delivering the service to the customer, also to prevent in future or present constraints.
4.
Examples: The market research is:
1. Customer Interactions in various modes- This method is used for product implementation purpose or to make any changes.
2. Online surveys- It is also used for view collection purpose so to make the product as per the current trends and demand.
Quantitative: Opinions, Individual interviews etc.
Qualitative: Online survey, telephone interviews etc.
5. Segmentation is just like Demographics, it targets the particular group with different trends of choices and also if it is effectively done then marketing goals will be easily achieved.
The target marketing is nearly same; it also targets the particular audience who is seeking for a specific trend. The organizations with successful research get to know the targeted areas which help them to lead a better business.
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