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Executive Summary
Who we are Olmec Toys Brief Introduction
Where the market is Ethnic Toy Market Analysis
Write my Essay on Memo: Breakthrough Retail Market for me
What the benefits are Win-Win Alliance
What we will do Sales Support Plan
Summary
Appendix A Olmec Toys SWOT Analysis
Appendix B K-Mart Stakeholder Group Analysis
References
April 0, 00
To Ms. Yla Eason
From Haitao Wang
Re The necessity and approach to convince K-Mart to be the retailer of our toy products
Executive Summary
Because K-Mart has evolved into a retail empire of more than 1,800 stores that reach millions of customers, it is crucial for us to convince K-Mart to be the retailer of our toy and accessories products to breakthrough the retail market. The reasons are
1. To generate instant revenue income and capital to further develop our business
. To Build up our customer base and gain market share
. To reduce our marketing and sales cost
I believe the best approach to convince Mr. Kearse is to show him
1. Who we are
. Where the market is
. What the mutual benefits are
4. What we will do.
Who we are Olmec Toys Brief Introduction
Olmec Toys was established in 185. It is one of the several companies that first produced the ethnic dolls in the country. Our products include African-American and Hispanic dolls and accessories. Although a new comer of this industry, we believe we provide the right products at the right time to the right customers through the right channel.
Where the market is Ethnic Toy Market Analysis
Ethnic Toys are important to Children
Toys are an intrinsic part of childhood and their glorious magic helps a childs imagination sprout wings. But the purposes behind toys and playtime go far beyond the boundaries of amusement.
Through thorough market investigation, we found that till now Black children received from toys were anything but pleasant. Dolls were almost always blonde and blue-eyed with narrow, European features and most superheroes were lily-white.
Historically African-Americans have always brought their struggle to their children on a daily basis, but alongside that, one needs to see accomplishments and the positive aspects of our culture. The best way to reinforce that culture for young children is during playtime. If one is able to incorporate cultural messages within playtime, then one is able to put culture within a very positive light for children. This is especially essential for Black children because they arent born into a society that validates their value and distinctiveness. Its important for us to be proactive in making sure that Black children embrace images that represent themselves and reinforce self-esteem and racial identity.
The market of ethnic toys already exists but is neglected
There will always be a market for ethnic toys because the basic factors are still there and still need to be answered who am I. what do I represent, who are my people and what is my culture like. If children grow up with things that are like themselves, they will tend to like themselves or at least identify themselves with that positive image.
From extensive demographic research, we found that 0 percent of Americans age ten and younger were non-white, and the number is growing. These children want dolls with the same facial features and skin tones as those of themselves. It means there is a large already existing market or important customer segmentation that is neglected. The products of our company, Black superheroes and dolls, are just the right things to address the needs of these customers.
What the benefits are Win-Win Alliance
As environment changes, supper stores like K-Mart find themselves facing more and more competition. The competitive weapons are high productivity, diversity of products addressing customer needs, and competitive pricing. By selling the ethnic dolls of Olmec Toys, K-Mart can gain competitive advantages such as
1. Attracting more customers such as African-Americans
. Increasing revenues from not only toy selling but also side selling
. Increasing market share
4. Enhancing company's reputation from multi-cultural perspective
5. Improving customer satisfaction thus increasing customer loyalty
The more detailed information in Appendix B K-Mart Stakeholder Group Analysis can help Mr. Kearse to evaluate the impacts of what if K-Mart decides to retail our toy products. I believe the message conveyed from the analysis could help Mr. Kearse make the decision that is favorable to us.
Though the alliance with K-Mart, our company can
1. Breaking though retail market
. Increasing revenue and gaining capital to further develop our business
. Increasing our market share
4. Building up customer base
What we will do Sales Support Plan
To support the toy selling once K-Mart decides to retail our toy products, we plan to launch following marketing and sales events
1. Adding K-Mart name into the advertisement
. Launching product promotion (details are to be determined after negotiating with K-Mart marketing and sales executives.)
Summary
Above I discuss the reasons why it is important to get K-Mart account and the approach I believe to be feasible. I appreciate your comments. Once we decide, I will arrange the meeting with Mr. Kearse.
References
1. ¡°Yla Eason (A), The Business Enterprise Trust, -6-054
. ¡°New Boom in Ethnic Toys, Ebony, 001011, Nov, Vol. 4, Issue 1
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