HASBRO CASE
HASBRO
1. What are the foundations of Hasbro’s global success?
The growing integration of international markets as well as the growth of competition on a worldwide scale implies that adaptation of a global perspective has became increasingly imperative in planning marketing strategy (Dougles & Wind, 1987). Like seen in most industries, global toy industry has also been shaped by this global perspective.
Before analyzing Hasbro’s strategy and basis of success, first, it is important to evaluate the whole toy industry. Previously, kid’s toys were made of solid materials like wood, iron, plastic etc. and playing with them was pure physical activity. At that time, toys resembled the material inventory of the adult world such as girls’ playing with particular clothes, kitchen utensils and baby accessories; and boys’ playing with ships, cars, trains, guns etc. Today on the other hand, toys have more immaterial nature like software for computers and more sophisticated video games. Compared to previous characteristics of the industry, today, it is more than a physical activity but it reflects to imagining, planning, simulating, reacting and communicating.
The toy industry is very stable and mature. It is subjected to a highly fragmented retail channel of distribution. It is also highly competitive with low barriers to entry, and traditional toy manufacturers are seeing increasing competition from digital gaming products, digital media and products that combine traditional “analog” products with digital play. Competitors include large and small manufacturers, as well as marketers with strong capabilities with respect to recognizing shifting consumer interests and bringing new products to market1.
When it came to the consumer part, with the globalization and technological advances, the toy industry defined children as key consumer group and even the very youngest ones are called as potential customers. Childhood is seen as the key moment in the social formation of
1. What are the foundations of Hasbro’s global success?
The growing integration of international markets as well as the growth of competition on a worldwide scale implies that adaptation of a global perspective has became increasingly imperative in planning marketing strategy (Dougles & Wind, 1987). Like seen in most industries, global toy industry has also been shaped by this global perspective.
Before analyzing Hasbro’s strategy and basis of success, first, it is important to evaluate the whole toy industry. Previously, kid’s toys were made of solid materials like wood, iron, plastic etc. and playing with them was pure physical activity. At that time, toys resembled the material inventory of the adult world such as girls’ playing with particular clothes, kitchen utensils and baby accessories; and boys’ playing with ships, cars, trains, guns etc. Today on the other hand, toys have more immaterial nature like software for computers and more sophisticated video games. Compared to previous characteristics of the industry, today, it is more than a physical activity but it reflects to imagining, planning, simulating, reacting and communicating.
The toy industry is very stable and mature. It is subjected to a highly fragmented retail channel of distribution. It is also highly competitive with low barriers to entry, and traditional toy manufacturers are seeing increasing competition from digital gaming products, digital media and products that combine traditional “analog” products with digital play. Competitors include large and small manufacturers, as well as marketers with strong capabilities with respect to recognizing shifting consumer interests and bringing new products to market1.
When it came to the consumer part, with the globalization and technological advances, the toy industry defined children as key consumer group and even the very youngest ones are called as potential customers. Childhood is seen as the key moment in the social formation of
Bibliography: Hjarvard, S., “ From Bricks to Bytes: The Mediatization of a Global Toy Industry”; Retrieved 24 April, 2014, from http://www.sfu.ca/media-lab/cmns320_06/readings/hjarvard_bricks_to_bytes.pdf Wong, C.Y., Arbljorn, J.S. &Johansen, J.(2005), “Supply Chain Management Practices in Toy Supply Chains”; Retrieved April 23, 2014, from http://tres.njude.com.cn/rete/eWebEditor/uploadfile/scyyzgl/Flash/20080920040623.pdf Wing,C.W