Duncan Yoyo Marketing Plan
Ducan YoYo- Marketing Plan
EXECUTIVE SUMMARY
Duncan is positioned as one of the largest Yo-yo manufacturer in the world. The yo-yo boom has been decreased rapidly with the fast pace technology and the invention of more varieties of toys and games. Duncan new product “Yo-yo Light Keychain” is to be marketed in anticipation of its next comeback.
The aim of the Duncan is to maximise economic returns for the corporation by penetrating new markets while further establishing Duncan’s reputation for leading in quality and stylish yo-yos. Core competencies and strengths (such as the positive reputation of Duncan’s yo-yo quality products and the new launch of “Yo-yo Light Keychain” designed for children to be released in Australia) will allow this product to contend with competitors such as Yomega and Shinwoo yo-yo manufacturers.
There is sufficient evidence to support that Roy Morgan’s “Look at Me” segment will be a massive market for the Duncan’s Yo-yo Light Keychain and therefore the promotion of the new product has been designed distinctively for this target market. A ‘price-skimming’ method will be employed for the release of this product and the distribution outlets will alter accordingly. A detailed implementation plan defines this process with key dates and duration of significant events involved with the performance of the Yo-yo Light Keychain over 24 months.
Continuous review of sales and profits, as well as market research and innovative practices, will be undertaken to evaluate the performance of Duncan’s new Yo-yo Light Keychain; allowing the corporation to act upon negative deviations from goals, maintain competitive advantage and exploit positive performance.
TABLE OF CONTENTS
1. Introduction---------------------------------------------------------------------------4
2. Situation Analysis-------------------------------------------------------------------5
1. Internal
EXECUTIVE SUMMARY
Duncan is positioned as one of the largest Yo-yo manufacturer in the world. The yo-yo boom has been decreased rapidly with the fast pace technology and the invention of more varieties of toys and games. Duncan new product “Yo-yo Light Keychain” is to be marketed in anticipation of its next comeback.
The aim of the Duncan is to maximise economic returns for the corporation by penetrating new markets while further establishing Duncan’s reputation for leading in quality and stylish yo-yos. Core competencies and strengths (such as the positive reputation of Duncan’s yo-yo quality products and the new launch of “Yo-yo Light Keychain” designed for children to be released in Australia) will allow this product to contend with competitors such as Yomega and Shinwoo yo-yo manufacturers.
There is sufficient evidence to support that Roy Morgan’s “Look at Me” segment will be a massive market for the Duncan’s Yo-yo Light Keychain and therefore the promotion of the new product has been designed distinctively for this target market. A ‘price-skimming’ method will be employed for the release of this product and the distribution outlets will alter accordingly. A detailed implementation plan defines this process with key dates and duration of significant events involved with the performance of the Yo-yo Light Keychain over 24 months.
Continuous review of sales and profits, as well as market research and innovative practices, will be undertaken to evaluate the performance of Duncan’s new Yo-yo Light Keychain; allowing the corporation to act upon negative deviations from goals, maintain competitive advantage and exploit positive performance.
TABLE OF CONTENTS
1. Introduction---------------------------------------------------------------------------4
2. Situation Analysis-------------------------------------------------------------------5
1. Internal
References: Economic Trends Since the global recession, Australia has been affected and our countries real gross domestic products have declined (Uren 2008) |2003). |Global recession means less disposable income for parents to | |Opportunity to increase market share |Opportunity for brand loyalty. |Strong Competitors (Figure 1 and Figure 2) – Brands such as | | |Yomega, Hyper Yo-Yo and Yo-Yo Factory (Yo-yo Nation 2009) 5.0 MARKETING STRATEGY 5.1 Product: Duncan’s new “Yo-yo Light Keychain” is the combined success of the two Duncan’s existing products, the “Pulse” and “Keychain” yo-yos (Duncan Toys Company A Division of Flambeau 2007)