분야
docx2. Situational Analysis
2-1. Internal Analysis
2-2. External Analysis
2-3. Market Analysis
2-4. SWOT Analysis
3. Segmentation, Targeting and Positioning
3-1. Segmentation
3-2. Targeting
3-2. Positioning
4. Marketing Strategy
4-1. Marketing Objectives
4-2. Product and Brand Strategy
4-3. Price Strategy
5. Communication Strategy
6. Distribution Channel Strategy
7. Metrics and Implementation Control
8. Financials and Forecasts
Oxford Toy is a Korean company which produces plastic toy block sets that is similar and compatible with Lego, the original inventor and market leader of such toy. It has partnership with an international toy producer Hasbro, and manufactures toys as well as produce its own design, which includes several types and sizes of bricks for various age groups.
For external environment analysis, recent low birth rate means the size of toy market will likely to stagnate, but economic recovery and rise of adult toy fans (kidults) may make it grow. Proliferation of digital devices and direct foreign purchase may affect the market as well.
Total toy market size of Korea is estimated to be around 1000-1200 billion won, but up to 90 percent of toys are imported, and Korean toy manufacturers are not doing well due to domestic economic reasons. Also, in Korea, half of toys are sold through hypermarkets, and educational or franchise-based toys are in high demand.
In block toy market, Lego has taken Oxford's market share, becoming the market dominator. It has many popular franchise, as well as long history and better quality compared to Oxford. On the other hand, Oxford has lower price at the cost of poorer brand image.
We segmented customers into three groups of kids, parents and kidults, and we believe Oxford should target the last one to increase its brand image and sales. New products should focus on larger and more mature-themed products to focus sales on this segment.
Also, While Oxford Toy has great price, and need to have its position as good quality with affordable price, its products should be more well designed and well thought out to appeal to targeted segment. We suggest a 7.5% price raise to cover the cost, while having little impact on sales.
To clear prejudices against Oxford Toy products, which can be seen as cheap knockoffs of Lego, we suggest a sample handout event at fast food chains to give people trial, create buzz and give good impression while minimizing the cost.
For distribution, Oxford Toy already has good domestic channels. However, it needs a company online shopping mall to provide better accessibility for their collector-level toy items and individual bricks.
Finally, Oxford need to maintain growth to stay competitive against Lego Korea's success, and should keep investing.
