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The main strength of the Wild planet is the quality and the product pricing. All the products of the Wild Planet’s are tested several times before they come to the market for sales. The internal strength of the company is the idea generation team. They have a tremendous branding and marketing strategies which attract the kids as well the parents towards the brand. Let us write or edit the essay on your topic "Marketing" with a personal 20% discount.. Try it now
Mattel: Mattel is the market leader in the United States. While the Mattel acquired the third largest toy manufacturing company Tyco Toys Inc in 1996, the company became extremely confident over the future performance. The Barbie and the Hot Wheels are the two show stoppers in the toy market. However, the companies combined sales represented only 19 percent of the total American Toy market. (Snyder, 2002, p 14)
The Mattel Inc is a giant company in the toy industry. It is rated as the biggest toymakers in the world. The main strengths are the two brands and they are the Barbie and Hot Wheels. The company’s sales are being driven by these two brands. However, Soul Mate is in manufacturing innovative toys and they don’t manufacture small scale models of cars. Mattel is a threat to any toy manufacturing company as the deep financial pockets can allow them to buy any company in the toy industry.
Mattel is a big company with a global exposure. However in the United States kids are boarded with the same old Barbie and Hot Wheels cars and may be that is the reason it contributes only 19 percent in the total sales of toys in United States. The new product idea is not that strong.
From the above analysis it is very clear that the Wild Planet is the main competitor for the company. To differentiate soul Mate from its competitor it is very vital to understand the strength and weakness of the competitor. The business strategy of the Soul Mate and that of the Wild Planet is more or less same. The Wild Planet sells the innovative toys like Soul Mate and some of their products are Spy gadgets, Spy
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