Without tactically coming up with ways in promoting the new range of toys, Thompson Toys could face a serious downfall. The success in promoting new toys is the consequence of trustworthy and skilful marketing visions, exhaustive analyses and comprehensive planning. The SWOT analysis is used for strategic planning, marketing and product development. Therefore, the SWOT analysis can determine whether we should launch new range of toys for 9-11 age group or not.
Internal environment
Strength
Weakness l Good reputation l Having Efficient and Skilful design team l Issue on cash flow l Issue on products’ safety
External environment
Opportunity
Threat l Recent trend towards electronic toys l Customers loyalty l Other competitors enter …show more content…
Therefore, Thompson Toys cannot ignore this duty. Nevertheless, Chris Wall who is the managing director illustrated that the products exceeding is more important than the appropriate safety standards. Recently, at least 12 reported incidents have been occurred and most of reports mentioned that the toys emitted heat and even some of cases pointed out that the smoke came out from the toys. These incidents reflected that the company just focus the sales amount but neglect the products safe. Finally, most of customers will suspect that playing these toys producing from Thompson Toys are safe or …show more content…
We can conclude that our company should not launch the new production line. Firstly, the liquid capital of our company is not enough and if we still focus to promote the new products, the financial condition of the company will get worse. Secondly, the quality of products should be improved before launching the new products. The recent incident has already influenced on the confidence of customers. If the company still announces to launch new products at this moment, the stakeholders including the public and customers question about our products ' safety and quality and decrease the confidence on our company 's products. After that, our company is a lack of analysis on the competitors. If our company does not understand more the background of the competitors, it will have more opportunity to face the dangerous challenges in the future toys market. Although our company has greater reputation and has skilful design team that can increase the confidence of promoting the new production line, launching new range of toys should be rejected from the financial
Internal environment
Strength
Weakness l Good reputation l Having Efficient and Skilful design team l Issue on cash flow l Issue on products’ safety
External environment
Opportunity
Threat l Recent trend towards electronic toys l Customers loyalty l Other competitors enter …show more content…
Therefore, Thompson Toys cannot ignore this duty. Nevertheless, Chris Wall who is the managing director illustrated that the products exceeding is more important than the appropriate safety standards. Recently, at least 12 reported incidents have been occurred and most of reports mentioned that the toys emitted heat and even some of cases pointed out that the smoke came out from the toys. These incidents reflected that the company just focus the sales amount but neglect the products safe. Finally, most of customers will suspect that playing these toys producing from Thompson Toys are safe or …show more content…
We can conclude that our company should not launch the new production line. Firstly, the liquid capital of our company is not enough and if we still focus to promote the new products, the financial condition of the company will get worse. Secondly, the quality of products should be improved before launching the new products. The recent incident has already influenced on the confidence of customers. If the company still announces to launch new products at this moment, the stakeholders including the public and customers question about our products ' safety and quality and decrease the confidence on our company 's products. After that, our company is a lack of analysis on the competitors. If our company does not understand more the background of the competitors, it will have more opportunity to face the dangerous challenges in the future toys market. Although our company has greater reputation and has skilful design team that can increase the confidence of promoting the new production line, launching new range of toys should be rejected from the financial