Politically : Britain Leaves The EU (BBC 2016)
Legalities: The National Minimum Wage increases on 1 October every year. (FPB.org 2015)
From 5th April, maternity pay, paternity pay and adoption pay increase to
£139.58 per week. (FPB.org 2015)
Economic: UK economy shrugs off Brexit with 0.5% growth. (The Guardian 2016)
IMF urges governments to tackle global debt of $152tn (The Guardian 2016)
Social: The FTC investigates educational claims on children’s toys (Mintel February 2015)
Technology: Robots that learn tasks and send that knowledge to the cloud for other robots to pick up later. (MIT 2016)
Technology spend to boost back to school market. (Mintel 2016)
Environmental: The year 2015 ranks as the warmest on record. (NASA, 2016)
Shares in two biggest toy companies up 20% (CNN 2016)
Hasbro plans broadway musical based on clue board games (Playbill 2016)
Star Wars toys fuel Hasbro revenue surge (The Guardian 2016)
Hasbro sales down 4% year on year to 1.4 billion. (Bloomberg 2016)
Hasbro sales generated by girls brands fell 28% (Bloomberg 2015)
Hasbro’s new app lets you make your own star wars movie. (Mintel 2016)
Hasbro, Mattel Toy Suppliers Slammed In Labor Report
A.B.GEE supplies Hasbro and Mattel, also largest in the UK. (A.B.GEE.co.uk 2016)
Competitors: Video game industry up 4.8% in 2015 (pwc)
Customers: Children outgrowing toys at a younger age (Mattel annual report, found at adage.com, 2015)
Longer working hours reducing leisure time (Ibtimes.co.uk 2015)
Critical Success Factors :
Threats to Weaknesses:
1. Make more diverse products/range. This means we want to diversify products to be able to appeal to a wider range of people and increase target market.
2. Update suppliers to reliable/ethical sources. This means we want to be able to produce an ethically sourced product and not breach human rights.
3. Diversify Products. This is as above but more focused on what we produce and how we produce it, dont just produce generic games, make collectables etc.
Threats to Strengths:
1. Utilise market share to generate as many sales as possible.
2. Branch into market/technologically advanced suppliers. This means we want to expand and keep up with the rapidly growing gaming market, so to create apps would be an extension of this.
3. Leisure time does not affect seasonal sales. This means we do no not need to think about producing at different levels throughout the year.
Opportunities to Weaknesses:
1. Increase promotion to regain marketshare. Keep up with Lego and Mattel on their increasing competitiveness by improving promotion/advertising.
2. Switch to more technological suppliers. This means to use more efficient and better quality suppliers who utilise automation.
3. Market differentiation to increase sales. This means to capitalise on our strengths by producing theatre shows (playbill) in the same way Lego produced a movie.
Opportunities to Strengths:
1. Introducing new products into the toy market. This means to aim to use more complete innovation by making brand new board games.
2. Branch into more technologically advanced suppliers. (as above)
3. Market differentiation. To continue meaning branching into new markets is essential.