The pilot study will be undertaken to capture the attitude of a convenient sample in and around Hertfordshire, where Playful Times Toys which will be representative of the companies population. Both qualitative and quantitative techniques will be used. In the qualitative categories, in depth interviews of about 25 existing channel partners of the acquired company will be undertaken using the semi-structured interview technique. In the quantitative category, questionnaires will be administered both physically and using internet to about 500 potential customers comprising parents and grandparents of kids. The qualitative data will be analysed using subjective, interpretative techniques. The quantitative data will be analysed using both descriptive and inferential statistical techniques such as hypothesis testing, Chi-square testing, analysis of variance, correlational studies, and regression analysis. Subsequently conclusions will be drawn and recommendations will be made. 2. Introduction 2.1 Background Playful Times Toys’ decision to move away from the electronic toy market to traditional wooden toy market and consequent acquisition of a company that specialised in production of traditional wooden toys necessitated a market research to develop suitable promotional programme aimed at the potential customers in the wooden toys market. The research is significant for Playful Times Toys as the acquired company specialised in production of wooden building blocks, farmyard animals, train sets, and other vehicles for children aged 2-10. The company marketed these products on the basis of their perceived educational value. Playful Times Toys intention to develop promotional programmes aimed at the parents and grandparents customer segment signs a departure from its own and that of the acquired company’s marketing experience and infrastructure. 2.2 Overview of toy market Toy market is dependent on two factors (1) the number of children, and (2) gross domestic product (GDP), which would enable to purchase. Usually toy products are categorised under 11 categories as (1) action figures & accessories; (2) arts & crafts; (3) building sets; (4) dolls; (5) games & puzzles; (6) infant/preschool toys; (7) youth electronics; (8) outdoor & sports toys; (9) plush; (10) vehicles; and (11) all other toys. World’s toy market can be divided into two categories (1) 0 to 14 years old, and (2) 15 + years based on based on the GDP/Inhabitant. 2.2.1 Top toy markets of the world In 2007, European region was the largest market with 32 per cent market share, closely followed by North American region with 31 per cent market share, while the Asiatic region accounted for 24 per cent market share. Latin America and the Caribbean markets accounted for 7 per cent, African region 4 per cent and the Oceania accounted for 2 per cent of the global market share. However, by the end of 2008, the Asiatic market grew by three per cent whereas both North American and European markets registered decline. Latin American and the Caribbean markets grew by 1 per cent. The composition of world toy market by region is placed in the figure below. Figure 1: World toy market by region – 2008 Source: Guinaudeau, P., 2009. Toy Markets in the World. [Online] The NPD Group (2009 Edition) Available
Exploring Customer Attitude A pilot research proposal for exploring attitude of potential customers to wooden toys By Submitted to (2011) 1. Executive Summary This work constitutes a proposal for a pilot research project to be undertaken for Playful Times Toys to explore attitude of potential consumers to wooden toys…
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