Business Level and Corporate Level Strategies



Business Level and Corporate Level Strategies

Fisher-Price

Toy Industry

Toy industry accounts for one of the most highly competitive and globally thriving businesses of the world. Bearing many factors and features for profits and huge gains, toy industry is in requirement of colossal investment and a hoard of various different creative minds working for the development of ideas for the children.

The Story of Fisher-Price

Fisher-Price characterizes one of the most trusted and pioneering names in the toy industry of United States. The times of the great Depression had casted a looming effect on the people; in the wake of such times, a novice company introduced its revolutionary and whimsical element of toys, the 16 Hopefuls. The toy company thrived and boomed its way toward fame and recognition after the success of 16 Hopefuls. The company then, came to be known a leader in the pre-school toys. Following the rich and successful history Fisher-Price has not stopped producing hallmark toys and games for children.

Although Fisher-Price has gone through many instances and occasions since the production and introduction of 16 Hopefuls, the quality and the main aim of the company has not changes as its strives to remain at the apex of toy industry. Fisher-Price has amalgamated its business with various product houses and big firms throughout the course of its journey, all striving to provide the best quality, constructive and friendly toys to the children (www.fisher-price.com).

Business Level Strategies

Businesses run for the public and holds great confidence and trust in the customer base a brand possesses. Customers are like fragile babies for the businesses; one little dissatisfaction can cause the firms a great loss and setback because creating customer base again and again costs to a great extent for a company. Therefore companies maintain and strive to preserve their created customer bases and work for keeping them engrossed and focused on their own products. For any firm or company to win and preserve their customer bases thorough analysis of its customers is necessary.

The information about the customer needed by the firms for devising business level strategies necessitates the who, what and how needs of the people. The 'who' needs delves into the core of the customer base and looks at the chunks of population suitable as the customer base. Market surveys and observation of the trends of buying indicates what kind of people purchase and prefer a certain range of products. The 'what' needs come in after the identification of customer base and requires stimulation of ideas from the strategy devisers to plan the policies and strategies for the target market. Though, what and who needs are not least important or in any way negligible, the 'how' needs are the most important. They are the core of the action planning and implementation of any business (www.albany.edu).

Fisher-Price Business Strategies

Customer Base

Fisher-Price one of the leading toy company of the United States works under the parent company named Mattel. The products of Fisher-Price are mainly aimed at the toddlers; ...