This takes great planning and heavy research to make sure hat the Wall-E Is being marketed as the right product, at the right price, sold In the right place, and promoted the best way. Some ways this can be done is by targeting a specific market location, identifying potential buyers (as well as the influences that make their purchasing decisions), and understanding the competitive landscape. Understanding and learning about these areas will help Disney launch the Wall-E toy in the best possible way.
Segmentation and the Target Market To create a successful marketing strategy, Disney must first answer the question, who s the customer who will be most Interested In new voice-activated robotic Wall-E toy. In order to find out the answer to that question, Disney must divide the market up into groups of customers with distinct needs, characteristics or behaviors, then select the segment that best suits the product; this is called market segmentation. The next step in this process of developing a marketing strategy is to decide how to best serve the target customer.
This step Is known as target marketing. Target marketing Is a process to evaluate each of the segments and to select the one or more segments hat will generate the most customer satisfaction and the highest level of profitability. Target market selection is crucial to productive marketing efforts. Products and even companies sometimes fail because marketers do not identify appropriate customer groups at which to aim their efforts. Identification and analysis of a target market provide a foundation on which a marketing mix can be developed? (DDCD Marketing, 2006).
The new release of the Disney/Polar movie, Wall-E Is currently for Pixie’s third-largest opening with $62. 5 million, according to audio estimates from Nielsen EDI?C,-?CLC (Bowels, 2008). According to Scott Bowels from USA Today, surprisingly more than a fifth of the audience, during the opening weekend, included adults without children. The Disney Corporation’s numerous market segments all seem to be related and reinforce each other: “The Disney Stores promote the consumer products which promote the [theme] parks which promote the television shows. The television shows promote the company” (Seder, 2008).
Ebbed also suggests, children are Increasingly the target of advertising ND marketing because of the amount of money they spend themselves, the influence they have on their parents spending (the nag factor) and because of the money they will spend when they grow up. ?C,-?0 With this in mind, Disney/Paxar will broadly identify the target customer for the new robotic toy as children. Children and teens, of all ages who presently watch the Disney channel will see previews for ask parents to go see the movie and ultimately to the store to shop for related merchandise.
Buyer/Consumer Disney has been a major player in toy development for decades and has always been n innovator when it comes to robotics and animation. Wholesale and retail buyers will not be in short demand. Most organizations are going to use the markups to price Wall-E, so price should not be an influential factor. Quality will be. Disney has a Strategic Sourcing and Procurement organization that will work with product development in order to select vendors that will bring the best value to the Wall-E robot. One of those vendors was Thinking Toys.
Disney and Thinking Toys have teamed up in the past on such projects as Toy Story, Little Mermaid and Beauty in the Beast (thanklessly. Com). Thinking Toys has won numerous awards regarding quality and product. Having these types of partners on board will ease the concerns of organizational buyers. Demand will also be an influential factor for buyers. The continued success of the movie as well as promotions should keep demand high. Disney will be best served to continue to partner with numerous companies from local and regional retailers and wholesalers to the larger global ones such as Toy-R-Us.
Additionally, Disney Interactive as well as the numerous Disney tortes around the globe can stock their shelves according to their local markets demand and their distribution network will ensure there is always stock in hand. The consumers of the Wall-E robot are mostly going to be parents of children from ages 6 through their mid-teens. These are going to be parents at least in the working class or lower middle class income bracket and above. The Wall-E robot, while still cheaper than its more advanced competitor, is still an expensive item. Parents with tighter budgets constraints are going to be hesitant to purchase such an expensive tem.
The working class is also the majority class in the U. S. , making it the most ideal market to target. Working class consumers cover a broad range of different types, but they will be influenced by price more so than classes above them. Rebate offers may be very effective if deployed during a lag in sales. Middle class consumers have a comfortable standard of living, economic security, and will be more willing to spend the extra money to satisfy their wants. Warranties and service will be more important here as well as the Disney brand. Competitive Landscape
Competitive landscape analysis identifies who the competitors are and what the competitor is doing in order to generate sales of the product. The best way for an organization to compete is to prepare them with an in-depth knowledge of what the competition is doing. Chris Byrne, contributing editor of Raving Toy Maniac News, stated of the competitive landscape, there are innovations across the board, which deliver more fun – no matter what kids are playing with. ” The interactive Wall-E two biggest competitors are the Pole dinosaur and the Ultimate Bumblebee Transformer.
Pole is an interactive robotic dinosaur that is designed from the same maker of the Furry. This techno dinosaur is equipped with 35 sensors throughout its body, allowing Pole to react instantly to system for light detection and navigation within its plane. With a price tag of 350 dollars, this high-end toy is not made for the average consumer. The Ultimate Bumblebee Transformer is a spoof from the original Japanese toy line, which debuted in 1984. The Transformers toys line from Hasher is unique in the fact that it features a toy vehicle that can be modified and changed into a robot, which is perfect or an inquisitive young boy.
The Ultimate Bumblebee Transformer features an advanced imitations design, which means the toy can move itself when in robot mode. His arms and wings move up and down, and his head moves from side to side. It seems to have full sound detection capabilities. It responds to noises, like clapping, by turning and making sounds. At $90, is said to be perfect for older children, toy collectors, and for adults with their inner child waiting to come out and play (Rose, 2006). The Wall-E is interesting, in that it combines characteristics from the top brand.
With the price tag of $120, Wall-E falls in the middle-tier of its competitors. However, Wall-E wins the competitive edge stemming from the features-to-cost ratio against the top leaders. Dealing with competition can be difficult, as the competitor can duplicate the product or even improve on the strategies. It is critical for organizations to have a unique selling proposition that puts it above the competition. Conclusion All in all, research shows that Disney has identified their target market for the new voice activated robotic Wall-E toy to be parents of children from ages 6 through mid- teens.