HELICOPTER WITH CAMERA LAUNCH 7
Helicopterwith Camera Launch
Companyand Industry Analysis
TheWL Toys Helicopter with Camera gyro 3.5 CH is an innovative gadgetproduced by WL Toys.WLToys Ltd is a company that specializes in the production of all kindsof electronic toys. As one of the leaders in the market, WL Toysfocus on producing the best products in the electronic segment of thelarger toy industry. The company produces electronic car models, toyphones and mobile toy gadgets among other products. Currently, thecompany has a large market for its products all over the world thissets precedence for the launch of the WL Toys helicopter model withcamera gyro 3.5 CH.
Thecompetition in the industry is stiff for the company and themanufacturers of such products. The company competes with theproducers of both the toy helicopters and other models and forms oftoys. The competitors include the RCQuadcopter, i-Helicopter FSWB and the Syma3.5CH Helicopter.Therefore, the WL Toys Helicopter with Camera gyro 3.5 CH launches toa market that is competitive, and should implement proper strategiesto ensure the success of the product.
Thecompany will have two main segments the local market and theinternational market. The local market will be the Chinese marketfrom where the company, WL Toys Ltd is located. The local market willenjoy lower prices to encourage local consumption as a local marketsegment. The international market will be America, Europe, Asia andAfrica. The market will be dynamic because of the competition fromother manufacturers in the industry. Therefore, the price of theinternational market segment will be adjusted to consider the cost ofdistribution, as well as the prevailing prices in the industry.
Theneeds in the market keep on changing, but the industry is coping withthe dynamism through innovation. WL Toys Ltd operates in theelectronic toy industry. This is a competitive industry with adynamic market and changing demands. The industry is built by theever growing demand for innovative toys as the needs of the childrenkeeps on changing. Therefore, the company must make WL ToysHelicopter with Camera gyro 3.5 CH, as a model that will keepconsumers satisfied, children and adults alike.
The4P Marketing Mix
Thefollowing are the main features of the helicopter
Chargetime: 35 minutes
Material: Metal& Plastic
IRRemote: distance of 8-10m
Fanblade has a diameter of about 18.5cm/7.68"
Gender: Boys& Girls
Theprice of the WLToyshelicopter will be developed depending on the market segments.According to Lamb and McDaniel (2008), the price of the productshould be considerate of each specific market niche as a way ofincreasing sales and maintaining customers in different marketsegments.Thecurrent market for the helicopter is $39.90 for the local retailmarket and this price will be considered for the internationalmarket. The international market segment will buy the helicopter and$47.5 to cater for the cost of shipping the product.
Thecompany will use new marketing strategies to avoid relying on oldmarket ones. Because of introducing a product that people do not haveprevious experience with, extensive marketing campaigns will be donefrom the time of product launch and sale. Therefore, the company willadopt digital media strategies to complement the old strategies thatthe firm has been using to market its products.
Internetplatforms are the best medium of marketing and advertising media. Theinternet will allow graphic advertising as it will be able to showvideos of the helicopterduringthe online promotional flights. According to Lamband McDaniel (2008),the promotionwill be able to capture the attention of customers thereby making theadvertisement fruitful. As a great tool, the internet will reach mostof the potential customers, especially those that are regular usersof the global network and social media.
Theother main promotion strategy that the company will implement is tosponsor kids’ events. By doing this, the firm will be exposingitself to consumers, who are the kids. At the same time, the firmwill use the social networking sites to sell the product. Socialmedia is a powerful platform of advertising and marketing theinnovative product. Therefore, the company will establish socialmedia advertising strategies to reach the global market so as tocreate global awareness. The powerful social media pages for theproduct will link potential buyers the website and the orderingsystem.
Thecompany will adopt both the direct and indirect distributionstrategies. The direct distribution will involve a direct link withthe customers. This means that the firm will establish customercenters as a way of building trust with customers by establishingclose ties. The company will use direct marketing so as to achieve onthis target in the target regions. This means that the firm’sstrategy will allow convenience for direct sales and direct marketingprogram. The indirect distribution will be meant to increase themarket coverage for the company by involving middlemen andindependent distributors.
Sincethe firm seeks to cover local and international market, WL Toysshould establish indirect partnerships with local and internationalindependent distributors who will supply the helicopter in theinternational market. However, the independent distributors will begiven company support through demos. This will make them feel part ofthe company’s marketing and distribution channel, and promote theirloyalty.
Inaddition, the company should support the distributors throughpromotions in their regions by giving test flights in public andglobal corporate events and competitions. The global events andpromotions will provide leverage to the marketing of the helicopter.
Problemand Success Analysis
Themain problem is the penetration of the international markets andincreasing the loyalty of the local market. Therefore, the success ofthe product launch will be assessed by the number of the countriesthat the toy helicopter will be sold to. In addition, there will be aquantitative assessment of success based on the volume of sales indollars that the company will sell in local and internationalmarkets, in five years time. Finally, the success of the productlaunch will be determined by the market share the firm takes withinthe next five years.
WLToys produced the Helicopterwith Camera gyro 3.5 CH that is being launched in the market withcompetition from other manufacturers. The launch aims at extendingthe market from the local scene to global dominance. To do this, WLToys will involve direct distribution and use of internationaldistributors, in addition to a competitive price strategy. The firmwill also use conventional and new marketing and promotionalstrategies to achieve the targets. This will make Helicopter withCamera gyro 3.5 CH a successful product in the local and globalmarket.
LambC., & McDaniel C. (2008). Marketing.New York: Cengage Learning
WLtoysLtd, Retrieved From, <http://wltoys.eu> February 24, 2015