Demand for Children's Toys

Paper Summary:

In this article, the writer notes that TR Toys is a producer/distributor of children's toys for the mass retail market. The writer points out that recently, sales of their brands have been declining for two consecutive quarters, when compared to the past two trailing years. The board has expressed concern that TR Toy brands may not be what the customer wants. Based on personal experience, the writer feels that the reason for the decline is a matter of price, rather than product. Several competitor brands are selling well, indicating that there is still a demand for those toy categories. This paper outlines a research proposal to help determine if it is product or price that is driving consumers away and towards competitors. The writer maintains that this research will help to determine what corrective action is necessary to resolve the situation and increase sales in the future.

Outline:
Topic Overview
Statement of the Research Problem
Purpose of the Study
Hypotheses
Research Questions
Significance of Research
Definition of Terms
Summary
Methodology

From the Paper:

"However, there are other factors besides price that can influence a customer's buying decision. For instance, if a product offers greater educational value, greater safety features, or had great reviews by other parents, the purchaser may choose that product, even if it does come at a higher price. The number of substitute products available is a key factor in the purchase decision. When comparable products are available, then price becomes a more important factor. However, the customer must view those other products as truly equal in all aspects that are important to them. If a company is able to differentiate their products on another factor other than price, it is possible to retain higher sales, even in the presence of competition. Product, price, and the number of available substitute products will play an important role in this research project."

Sample of Sources Used:

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