(Part of a Business Project ) -Market Analysis- On a Product- Essay

(Part of a Business Project ) -Market Analysis- On a Product- - Essay Example Just as organic foods are becoming more and more popular this market analysis will show a direction of market growth for organic toys for mothers and children. ITS toys will be safe for toddlers to put in their mouths and the dyes and paints, made from organic materials that are childproof. Poisoning of from our toys will not be an issue from our company. This will get rid of the problem of consist recalls done other toy manufactures. The supply of our toys will come from vendors that use only the organic brand of paints and dyes. Our company needs to describe our organization that is totally customer oriented. We want our customers to know they are coming into a store that is child friendly and mom friendly. We do not want to describe our customer orientation in terms of whether it views customer relationships as long or short term. Customers will buy the benefits our toys and products provide to the customers every day. A checklist will be at our service counter and we will ask eve ry customer to fill one out when leaving the store. (1). Are we easy to do business with? Are we easy to contact? Is our information we provide fast and courteous. Are we easy to order from? Do we make reasonable promises? (2). Do we keep our promises? On product performance to, do we deliver. Did you get good service from our staff? Do you feel our staff members were helpful? (3). Do we meet the standards we set? When you asked specific questions were they answered? How was the general tone in the store? (4). Are we responsive? Do we listen? Do we follow up? Do we ask "Why not and why"? Do we treat customers as individual companies and individual people? (5). Do we work together? Do we share blame? Do we share information? Do we make joint decision? Do we provide satisfaction? (Shapiro, 13) 1. Market Segmentation for individuals and businesses Individuals: this segment is people buying a single product for their child or someone that they know. The demographics for this segment are a household income of >$50,000, have high aspirations for their children in terms of education and development and want to get started as soon as possible. Generally, they have at least an undergraduate degree with 41% of the segment having a graduate degree. Businesses: this group is buying the toys for children who are the business' clients. These organizations typically are either day care based, or school based such as nursery school or pre- school. The number of children that they care for generally ranges from seven to 25. 2. Growth rates for toys The United Stated census bureau took a wide range of products including toys and stated they increased 2.6% over the previous year. In May of 2010, LEGO came to Boston for a competition regarding there long and successful toy history. The Danish toy company LEGO sailed through the recession. The company that makes those brightly colored snap-together plastic bricks announced its profits last year jumped more than 60 percent. LEGO's success is all the more remarkable when you consider that just a few years ago, the toy company was falling apart (David, 112). II. Target Market Market segmentation is an intuitively appealing process and it makes a great deal of sense to try to find different segments of the market that are more interested in our toy product or to develop products for other segments. Given the myriad ways of segmenting markets, the task of determining which segments