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Emerging Themes Project: The Toys and Games Industry - Essay Example

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Main industries include Hasbro, Mattel and MGA Entertainment in US, along with LEGO in Denmark, Namco Bandai, Sanrio in Japan, and Steiff in Germany, with the gaming hardware…
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Emerging Themes Project: The Toys and Games Industry
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Download file to see previous pages The US game and toy producing industry contains about “600 companies” (Appell 2013) and has yearly income of about “$3 billion.” (Toy Industry Association Statement for the Record: “U.S. – EU Free Trade Agreement: Tipping Over the Regulatory Barriers 2013). Income from manufacturing of toy which takes place in the US stands for only a part of income evidenced by US based producers that normally arrange to have toys formed at the countries factories where costs are lesser. Important development drivers for the firm contain the innovations of product and raises in personal profits. The companies includes producers of video “game consoles,” (Essential Facts 2013) that are covered in the Electronic Toys and Games industry profile, other than does not contain industries that create software for computer or video games, that are covered in the Games and Entertainment Software producing industry profile.
According to the Global Industry Analysts the international toys and games company is predictable to hit the “$100 billion” (Marshall et al. 2010) by 2015. In current years the market has been affected by changing customer tastes and preferences, with children choosing for more electronic toys and video games. Children are also becoming more and more accustomed to altering toys more normally. This means game and toy producers are obliged to establish new products on a regular basis, and concentrate on technological and innovation advancements.  The development of market is being increased by console, video and computer games, with the companies also promoting from a increasing adult customer base as this group takes a better interest in games as a popular “leisure pursuit” (Kline 2005) company players are concentrating their marketing efforts on older “children and adults,” (Marshall et al. 2010) with little children no longer considered the company’s major target demographic. Competition in the producer, sale of toys and ...Download file to see next pagesRead More
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