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Competitor Analysis - Essay Example

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The following paragraphs will discuss the distinct characteristics and features related to Voltree Power’s CircuiTree’s…
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Competitor Analysis
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4.2 Competitor Analysis The four main competitors for Voltree Power’s CircuiTree include the product ranges offered by LEGO, 4M-ind, MaKey MaKey and discovery toys. The following paragraphs will discuss the distinct characteristics and features related to Voltree Power’s CircuiTree’s competition.
Lego is a leading name in educational toys industry. It targets the needs of pre-school to middle school. However, the distinctiveness lies in the follow up to the customers through after-school programs to build a relationship with customers stronger and far-reaching. Lego has formed coalition with local distributors to ensure availability of its products. Lego provides wide range, high quality and commitment to the customers’ needs in terms of new products. Lego’s Online activities like comics, online games, forums, educational product tutorials, online interactive sessions to support community development and learning etc. are some highly applauded and attention grabbing features for the customers. The company is highly responsible in managing employees, customers, returning back to environment and safety and security of the people linked to LEGO’s environment.
4M-ind is based in HongKong, however distributes its products across the geographical boundaries with online stores like Amazon’s STEM toy shop. It also has a list of authorized dealers in some countries. The company is committed to the provision of educational toys industry only. 4M-ind provides a wide range of products for all ages with the ease of pricing each product targeting a different income group. Its products are as cheap as $5. 4m-ind offers unique products that enchant and entice young customers like glow stars and the more scientific robotic hand. 4M-ind categorizes its products in two broader categories namey science and crafts. The science category involves scientifically advanced products at a reasonable price. Their prices are too competitive and are unbeatable for the newer competitors for the features and product ranges it offers.
Makey Makey targets younger innovative minds by providing them with a key to innovation in the shape of maKey invention kit that transforms daily-use products to touch pads while establishing a connection through to the web. The miraculous product startles users as it changes a simple drawing to a touch pad and a banana as a piano key (MakeyMakey.com). The uniqueness of the MaKey kit with its affordability in terms of pricing is of great attraction to the customers. The products offered invoke innovation in the children and are of greater value to the creative minds. MaKey MaKey provides a new direction to learning by involving regular items like bananas or a simple drawing to play games or be connected to the internet using simple and daily use products. MaKey MaKey started off as a project to innovate and welcomes talent across the borders to further the progress of this project as a business. Their products are available at Amazon, exclusive shopify store, through their website nd many other online stores. The delivery is made available to specific countries including but not limited to USA, UK, and Australia. Since the prices are lower for the unique product offerings, customers are more comfortable with choosing their products for the development of their children. It is also suitable for all age ranges since they provide a key to scientific connection and leave the use of it up to the customer’s creative mindset.
Discovery toys offer a wide range of innovative, simple and more scientific products all under one roof. Hence, people looking for a range of products to meet the needs of different age groups can easily navigate through their products and choose the right ones of their children. Discovery toys target mid to high-end customers, who have the ability to pay prices that are higher than many competitors. They provide quality and innovation side by side and ensure availability of the products across borders.
Competitive Analysis Table
Factor
Competitor A
Discovery Toys
Competitor B
LEGO
Competitor
C
4M-ind
Competitor
D
Makey Makey
Factor 1: Product Types
Simple, non-technical and least scientific products
Moderately technical to automated products
Moderate to Highly scientific product offerings
Simple yet scientifically enriched
Factor 2: Price
High:$125-$399
All price ranges from low to high
Low to mid-range targets
Mid to high end pricing i.e. $49 or more
Factor 3: CSR Approach
Social welfare in terms of toy donations. No environmental concerns addressed
Highly responsible in terms of society and environment both
More inclination to social welfare with some efforts to maintain better environment through green science products
Social responsibility does not seem to concern this competitor explicitly
Factor 4: Innovation and R&D
Traditional learning toys with lesser innovative ideas like automation
Continuous efforts to improve and innovate in terms of products and technologies
Considerably innovative with robotics in the list of products
Continuous improvement through community development and intake from various community collaborators
Factor 5: Product Range
Moderate Range for Special need children
Wide range of products targeting all age groups and purposes like education, entertainment or mind exercise
Products in two major domains, science and crafts. Wide range of products available in both the categories
A small range of products Read More
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