Development Of The Company ' S Marketing Strategy

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2. DEVELOPMENT OF THE COMPANY’S MARKETING STRATEGY The population of the United Kingdom has been healthily rising, with an increased annual rate of between 0.6% and 0.8% between 2009 all the way to 2013, hence reaching a projected target of 64.1 million. This increment in population was realized in the UK, mainly because of UK’s high birth rate as well as the ageing population. The growth of population will consequently boost consumer spending, which means that more toys will be on demand. The result of this is high sales of the building and Construction Company and the growth of the whole economy. Practically, the increment in population in the UK means that there will be a consistent number of children in the UK, which is a positive…show more content…
Nowadays, the uptake of digital and electronic products commence at a very younger age as children mature at a younger age than it was some few years ago. Therefore, the building and construction kit industry should produce greater and better market innovation and products in a bid to maintain competitiveness in a market that is already saturated with innovations and to specifically outsmart its competitor, Lego Bricks and More creative suitcase. The building and construction industry should focus a lot on the infant/pre-school toys and games, which account for the greatest market share in the UK toys and games market, accounting for 440.1 million pounds, which represents a 19.7% of the total. As the infant/pre-school toys and games mainly targets children of two years and below, the company should go for toys that suit the children. The company should preferably opt for the building and construction kit or game which, in 2013, was seen to get the highest number of returns. The sales for activity toys amounted to 341.8 million pounds, which represents 15% of the total toys and games sold in the UK in 2013. Dolls, games and puzzles should also be considered by the company as they are also greatly bought and utilized in the UK. The market positon in the UK is also a great factor in determining the type of
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