Analysis of Success Factors in the World Toy Industry Free Essay Example, 1000 words

The last but equally important success factor that can be associated with the toy industry is the type of toy that a particular company produces. According to quote (year), consumer behavior in the toy industry is shifted towards a part where there is a repeated endorsement for types of toys, which remains the order for buyers for a very long time. In the report by Key Note (2014), this is confirmed by a modern trend where tablets for children seem to have taken the place of traditional toys. Dynamism in production can, therefore, be noted as a perfect solution in the current endeavor by ensuring that toy manufacturing companies will look into ways by which they can incorporate features of the tablet technology into their products if they are to succeed in the UK market (quote). What are Green Toy s competitive advantages in the international toy market? 2 [184]In any competitive market, companies need the competitive advantage to win the favor of available consumers over their comp etitors (quote). This means that having competitive advantage makes it possible to survive in any competitive market (quote). We will write a custom essay sample on Analysis of Success Factors in the World Toy Industry or any topic specifically for you Only $17.96 $11.86/pageorder now Reading about Green Toy Inc. , an impression that is developed is that the company has benefited immensely from its brand equity. Meanwhile, brand equity is identified as a major competitive advantage, that makes companies and their brands identifiable to consumers (quote). Emphasising on how brand equity serves as a competitive advantage, quote (year) explained that consumers always wish for there to be variations on the market. But as the variety becomes many, they become skeptical on which products guarantee the quality they want. In a situation like this, these consumers tend to fall on companies with long-standing names in the industry from which they are buying from. This means that brand equity is a competitive advantage that older companies use over relatively new companies.