Hasbro Inc. owns the very successful brand, G.I. Joe that is an icon in the toy industry. G.I. Joe has been a dominate factor in the market for toys since its launch in 1964. The brand has been able to stand the test of time and its creators have successfully preserved the brand throughout the years. Hasbro’s challenge is to market the G.I. Joe brand in such a way, so that it can become a mega brand like its competitor Mattel with its mega brand Barbie. The toy market has volatile sales depending upon trends created by consumer demand. The market is also very seasonal in which sales are typically best during the Christmas shopping season. The target customer for Hasbro Inc. is a shrinking market due to technologically savvy youths who prefer to graduate to playing electronic games as opposed to playing with action figures. The target customer is now very segmented to young boys and older collectors that are loyal to the brand. Hasbro Inc. has to discern how to use the strong brand G.I. Joe to thrive while preserving the brand. Formulation of Options
Hasbro Inc has the optional of using a traditional approach to marketing the G.I. Joe brand, which has proven successful historically in the toy business. Hasbro Inc. can also choose to market the line with additional media included as an added feature to the purchase. Hasbro Inc. can also do nothing, G.I. Joe’s brand is recognizable to most America families, and the product dominates the aisle in the toy stores because of its good relationships with retailers such as Walmart and Target. One final option is to market the brand by using multiple forms of entertainment, which is a multi-faceted strategy that has proven successful with other brands. Analysis of the Options
Hasbro Inc. has the option of using a traditional marketing approach to market its G.I. Joe brand. This can be accomplished by using television advertisements, printed advertisements, and websites, while...
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