April 8, 2013
Marketing Plan: Final Paper and Presentation
Fisher Price produced a new product to teach children how to tie shoes. In this paper, there is information about who Fisher Price is a description of the new product, their marketing mix method and a SWOTT analysis of the product. Fisher-Price, Inc. was founded in 1930 and is based in East Aurora, New York. It all started out when Herman Fisher, Irving Price, and Helen Schelle created the toy company and brought 16 wooden toys to The International Toy Fair in New York City. Those first toys became very popular and became the hallmarks of Fisher Price. As of 1993, Fisher Price operates as a subsidiary of the organization Mattel Inc., the worldwide leader in toy products such as Barbie, Hot Wheels, Fisher-Price and American Girls. Fisher Price is famously known for the large selection of toys such as, action figures, dolls, cars, games, puzzles, classic toys, creative toys, educational toys and others. They cater to older children as well as infants. The company is also known for baby gyms, tables, walkers, strollers, car seats, and role-play toys. They offer their products through retailers and their online stores.
Fisher-Price is committed to the communities they serve in New York. They have supported initiatives ranging from education, playgrounds, music and arts appreciation to children’s hospitals with special emphasis on the charities that serve children from birth to six years old. Across all divisions of the company, they believe that it is their responsibility to make a difference in the lives of all children in need. Fisher-Price and their employees give time, energy and financial support to include: * Special Olympics
* Fisher-Price playground projects
* Ronald McDonald House WNY
* Buffalo Philharmonic Orchestra
* Theatre of youth
* Women and Children’s Hospital of Buffalo
* Explore and More- A Children’s Museum
* United Way (Mattel, Inc., 2013)
The new product is called Talking Shoes. The shoes are not to be worn by the child, but instead the talking shoes are educational devices that will help the child learn to tie their shoes. The talking shoes will also help the child learn which foot is their right foot and which foot is their left foot. The talking shoes are for children 3 years of age and up. The talking shoes will give step by step directions to the child on how to tie their shoes. The child can choose to have the talking shoes to talk them through the process or sing a song that helps them remember the steps to tying their shoes. These choices are also available for the child when learning their right foot from their left foot.
The talking shoes have big buttons that are brightly colored with pictures and easy to understand for the child that may not be able to read. The child will also have a choice for different languages so that different cultures and ethnic backgrounds can use the talking shoes. D Cell batteries operate the talking shoes so they can be taken anywhere the child goes, such as camp, school, a friend’s house or just outside. The talking shoes are waterproof so parents do not have to worry if the child drops it in water. As part of their market research, Fisher-Price uses a unique nursery type Play Lab. The Fisher-Price Play Lab is located at its headquarters in East Aurora, New York. The Play Lab is staffed with teachers who encourage the children to play with the new learning toys. The teacher’s responsibility is to show and demonstrate to the children how to play with the toys, answer questions they might have, and study how the kids react to the product. Designers and researchers are sometimes with the children in the Play Lab and occasionally behind a reflective one way mirror taking notes. Video tapes of the Play Lab experience are used at a later date to make observations of the products introduced to the children. Fisher-Price knows that there is no better...