question archive Write a thesis and an outline on Soul Mates Marketing Plans with Respect to the Competition
Write a thesis and an outline on Soul Mates Marketing Plans with Respect to the Competition
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Write a thesis and an outline on Soul Mates Marketing Plans with Respect to the Competition. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
The main strength of the Wild planet is the quality and the product pricing. All the products of the Wild Planet’s are tested several times before they come to the market for sales. The internal strength of the company is the idea generation team. They have tremendous branding and marketing strategies that attract the kids as well the parents towards the brand.
Weakness:
 . . . . . . . . . . . The main weakness of the company is the small product length. They don’t have a long product line like Mattel.
Mattel: Mattel is the market leader in the United States. While Mattel acquired the third largest toy manufacturing company Tyco Toys Inc in 1996, the company became extremely confident over the future performance. The Barbie and the Hot Wheels are the two show stoppers in the toy market. However, the companies combined sales represented only 19 percent of the total American Toy market. (Snyder, 2002, p 14)
Strength:
 .  .  .  .  .  . Mattel Inc is a giant company in the toy industry. It is rated as the biggest toymakers in the world. The main strengths are the two brands and are the Barbie and Hot Wheels. The company’s sales are being driven by these two brands. However, Soul Mate is in manufacturing innovative toys and they don’t manufacture small-scale models of cars. Mattel is a threat to any toy manufacturing company as the deep financial pockets can allow them to buy any company in the toy industry.
Weakness:
 . . . . . . . . . . . Mattel is a big company with global exposure. However, in the United States, kids are boarded with the same old Barbie and Hot Wheels cars and maybe that is the reason it contributes only 19 percent to the total sales of toys in the United States. The new product idea is not that strong.
Differentiating Soul Mate from the closest competitors:
 . . . . . . . . . . . From the above analysis, it is very clear that the Wild Planet is the main competitor for the company. To differentiate soul Mate from its competitor it is very vital to understand the strength and weaknesses of the competitor. .
