Report on Spin Master Corp Company
Report on Spin Master Corp Company
Executive Summary
Spin Master Corp is a company located in Canada. However, it is an entertainment and global toy company which is concerned with developing, designing, manufacturing as well as marketing of products that are significantly consumed by consumers (Kim, 2018). And such consumers involves children globally since the last two decades, that is from 1994 to date. Ultimately, the company’s brands include the following: “2009 Toy of the year, 2016 Innovative Toy of the year, 2018 Property of the year, 2017 Toy of the year as well as 2015 Toy of the year.” Generally, it has employed and still creates employment to thousands of persons living around the world with their articulated offices located in most parts of the continents. Literally, since the year 2002, the company has acquired 92 TIA Toy of the year that was nominated with about 28 wins especially on broader products varieties and categories (Lagier, 2016). Moreover, such nominations involve the other 13 TIA Toy of The Year nominations especially the Innovative Toy of the year, and this has made it a supreme as compared to other companies dealing with the same line of products (Woodworth & Suarez, 2015).
Historically, its first product, that is Earth Buddies was composed of grass seeds as well as Kmart pantyhose and these were found to produce hairy like structures especially when they are submerged into water (Keeble, 2018). Furthermore, the product was sold to approximately 26000 unit elements. Nonetheless, the company’s significant success was observed in 1998, and this was basically, putting into operation of the brand of the Air Hogs as well as Sky Shark. The latter was a plane that is foam (Lagier, 2016). Elaborately, it used air that is compressed to boost its flight when taken outdoor for test. Therefore, the development of these products brought about much net sales as compared to the previous years. Succinctly, the product, which is Sky Shark has put the company to be famous and emerges to take a lead globally as one of the most known toys across all the continents. Therefore, such product has made them earn especially during advertisements on social media together with the foreign press. Additionally, the company has shown its effectiveness by taking a move in the supply chain and this is basically through increased number of innovations especially in regions like Hong Kong (Humphreys & Miclette, 2017). Innovations increased their affinity to emerge as a new title in the industry of toys. With reference to the company’s successes, in 1999 the company became successful especially with the “Flix Trix Finger Bikes”. Four years later, it became the top corporate company which produced latest forms of bouncy castles which are inflatable. Later in 2008, the company put into place the Bakurag Brawlers franchise, and this was a game of cards (Woodworth & Suarez, 2015). Ultimately, the game of cards was made with respect to Sega Toys, and these were featuring balls of plastic that burst so as to bring about revelation of specific characters like anime-style character (Hojin & Shin, 2015. Fortunately, the franchise made the company to prosper in terms of endowment in annual sales. Nevertheless, the “Spin Master Entertainment” put in place with “Bakugan Battle Brawlers” during leadership of Harary, and such films about animations were viewed in television series especially under Hashimoto’s direction (Keeble, 2018). Since then, the Entertainment emerged to develop around six TV series of not less than 400 total episodes. These includes, Fuzzly Catcher as well as Abby Hatcher that is, the company’s latest animated early childhood series to be performed for the first time especially on Nickelodeon season recently on 2018-2019 (Lagier, 2016). Nevertheless, the company acquired Erecor Set and this was done by Meccano set line of construction in 2013. Ultimately, the company agreed to come into an acquisition of Cardinal Industries, that is, a puzzle company (Woodworth & Suarez, 2015). Fortunately, through purchasing of cardinal companies, the company emerged to be the greatest stock exchange market. However, in earlier 2016, the company acquired the award of library winning games that originated from another company dealing with toy games. In addition, it acquired digitalized toy makers from the existing Bonnier group located in Sweden. The company also attempt to diversify in outdoor sports as well as water categories by acquiring Swimway corporations.
In the following year, the company purchased Marbles, and was a firm which took part in creation of games, gadgets as well as gifts (Humphreys & Miclette, 2017).
In conclusion, Spin Master Corp is effective in developing, designing, manufacturing and marketing of products that are greatly consumed by children to increase their satisfaction points.
Therefore, it is recommended that efficiency and effectiveness of company can be enhanced when the company widens its products’ locations as well as when it increases uniqueness of products to enhance marketing globally.
Table of Content
Company’s International Strategy. 3
Company’s Marketing Approach. 4
Company’s Logistics Approach. 5
Company’s Human Resource Management Approach. 6
Recommendations and Conclusion. 8
Company Descriptions
The Spin Master Corp operates in several companies globally. Among the subsidiary companies includes Swimways Corporations, Cardinal industries as well as Marbles around the world (Woodworth & Suarez, 2015). For instance, the company agreed to come into an acquisition of Cardinal Industries, that is, a puzzle company. And this has made its first offer to the public especially on stock exchange. On the other hand, the company also attempted to diversify in outdoor sports as well as water categories by acquiring Swimway corporations in order to operate in the company (Kim, 2018). In addition, the company purchased Marbles, and this is specifically a firm which took part in creation of games, gadgets as well as gifts so as to ensure consumers purchasing power is necessitated in a broad section in the business world.
Nevertheless, the company’s size in terms of yearly net sales posits that as at 2017, the net revenue realised was $ 1.553 billion (Keeble, 2018). However, in terms of size of the workforce, it has captured the whole world. On the other hand, the company’s headquarter is located in Toronto, Ontario situated in Canada. Succinctly, the operations of the company involves entertainment through playing of games, and production of TV series consisting of several episodes (Woodworth & Suarez, 2015). Moreover, such series includes Fuzzly Catcher as well as Abby Hatcher that is, the company’s latest animated early childhood series to be performed for the first time especially on Nickelodeon season recently on 2018-2019.
However, based on items provided by the company, such goods involves the use of toys in order to promote business. Therefore they are traded as “Toy of the Year”, abbreviated as TOY. Literally, on matters concerning stability and sustainability, the company has emerged to be too flexible around the world and therefore such notion posits that it is a stable company which can stand on its own to form corporate strategies in the field of business.
Recently, on the specific core stories about the company is that, in earlier 2016, it acquired the award of library winning games that originated from another company dealing with toy games. On the same year, it purchased these two items at a disclosed prices, these are, “iconic Etch A Sketch” and “Doodie brands Sketch” from the Ohio Art company (Hojin & Shin, 2015). In addition, it acquired digitalized toy makers from the existing Bonnier group located in Sweden. The company also attempted to diversify in outdoor sports as well as water categories by acquiring Swimway corporations.
In the following year, the company purchased Marbles, and this is specifically a firm which took part in creation of games, gadgets as well as gifts (Kim, 2018). It also acquired Aerobie, which is a top most firm in production of out of door flyable disks as well as the toys intended for sports activities. Lastly, earlier the year of 2018, it purchased the “stuffed brand of toy Gund”.
Company’s International Strategy
The Spin Master Corp Company strategized on embarking on the sales of its products across the continents especially Sweden since it is where the Bonnier groups are found to produce toys which are digital based assets (Hojin & Shin, 2015). Therefore, the giant firm absorbed such industries which thrived well in terms of digitalized toys so as to boost the giant firm’s supply chain. Basically, in terms of activities of R&Ds, the company attempted to carry out their research extensively in the outdoor especially on inflatable castles which are bouncy in nature (Kim, 2018). This was done to affirm if the Toy was efficient for marketing. As per my understanding, the company chose Sweden since it produced digitalized toys which were essential to the giant firm in order to boost its effectiveness. In addition, the company chose Hong Kong since toys entertainments could match their traditional culture and also the children in China regions tend to be taught much about real life situations using artificial gadgets like toys. Moreover, Hong Kong has emerged to be producing the articulated entities for sale across most of developing countries.
In contrary, the company’s competitors includes Tech 4 Kids, jazwares, jakks Pacific, LEGO as well as MATTEL (Lagier, 2016). With reference to the company’s strength and weaknesses, it has expressed its optimism by announcing to expand further in Europe hence becomes a strength. Moreover, the company continues to gain more knowledge on how to outdo other competitors dealing with the same line of product globally and this also denotes a strength.
Therefore, through the act of further company’s expansion to most parts of Europe, the long term net investment could be realised since most of the toy products could be sold effectively.
Company’s Marketing Approach
This is a situation where the company expands its marketability in some specific regions like Austria, Russia, Switzerland as well as Greece (Woodworth & Suarez, 2015). Therefore, such an expansion internationally is a core measure of strategic growth for the stipulated company since they depict essential penetration of the market in a bid to successfully raise the company’s scale as far as beyond North America. Nevertheless, the product strategies of marketing with reference to standardization levels of products involves execution of better plans to expand industries to other regions globally. However, the channels of communication and distribution techniques that the company used in various nations was through the use of relative strength technique (Lagier, 2016). Therefore, this technique does comparison of the stock’s performance with the performance of the whole market thereafter recommendations by investment was done through the use of exact calculations. However, traders who have emerged to use the technique in purchasing of securities showed some slight implications of strength thereafter sold them suddenly to posit some kind of weakness.
Company’s Logistics Approach
This approach is basically concerned with availing the existing toys to the market. Literally, children do attempt to pose their desires to acquire their toys especially during important occasions like Christmas season(Keeble, 2018). However, as per the observation especially during the 2016 Christmas occasion, “Hatchimals” that is, a toy phenomenon were at higher demand. Therefore, to deal with such situation, DSV jointly assisted Hatchimals’ producers, that is the Spin Master Corp Company to grow rapidly in the United Kingdom (Woodworth & Suarez, 2015). On the other hand, due to the fact that DSV purchased UTi at the beginning of 2016, the company has emerged to be DSV customer in Europe and North America. Therefore, this contributed to the DSV as well as the company to get crucial personnel to become united for an occasion in California. Importantly, drop shipping innovation approach was initiated. This innovation was concerned with distribution of the existing toys from facility of DSV’s logistics and that form of technology increased its efficiency in distribution process. Ultimately, the company opted to produce goods in Canada especially the Hatchimals and it chose Canada since it wanted to be competitive in the designing and marketing of innovative products which are catchy to consumers especially children.
Company’s Human Resource Management Approach
This approach is concerned about the use of HR to ensure better marketing of toy products globally. Through the use of human resources, the marketing executive who is successful in the field of global marketing as well as consumer insights may effect various marketing programs which could be integrated especially for the brands of the company (Humphreys & Miclette, 2017).Therefore, the executive should oversee shopper marketing, global digitalized marketing as well as insights of the consumers to ensure better products are availed in the market as per the consumers’ tastes and preferences (Keeble, 2018). However, this can affect operations of the nation taking part in the production of similar products due to disorientation of individuals’ desires.
Analysis
This should be done to ensure that there is better tradeoffs between the benefits incurred and the risks involved while introducing a given product into a foreign country. And this involves, analysis of the company, analysis of a company’s international strategies, analysis of company’s marketing approach, analysis of company’s logistics approach as well as analysis of human resources management approach. Ultimately, the company’s revenue increased by 52% from 2015 to 2016, and therefore as at 2017, it realized $ 1.553 billion (Woodworth & Suarez, 2015). However, Spin Master Corp emerged to be the leading entertainment company for children that creates, manufactures, designs and markets collection of innovative toys as well as products. Moreover, it attempted to diversify in outdoor sports as well as water categories by acquiring Swimway corporations in order to operate in the giant company. The goods of the company involved the use of toys and they were traded as “Toy of the Year”, abbreviated as TOY.
Nonetheless, while analyzing the company’s international strategies, the following have been gotten: the company strategized on embarking on the sales of its products across the continents like Sweden, USA, and Canada hence becomes a risk. In addition, the company’s competitors includes Tech 4 Kids, jazwares, jakks Pacific, LEGO as well as MATTEL (Kim, 2018). In contrary, gross sales have also been realised as a result of further expansion of industries to various continents and this has increased to 49% as at 2016 (Hojin & Shin, 2015).
However, while analyzing the company’s marketing approach this was the key part that was addressed. The channels of communication and distribution technique that the company used in various nations was through the use of relative strength technique (Keeble, 2018). Therefore, this technique does comparison of the stock’s performance with the performance of the whole market thereafter recommendations by investment were done through the use of exact calculations in order to obtain a result.
On the other hand, the analysis of the company’s logistics approach was about availing the toys in the market for sale, the drop shipping innovation was initiated to ensure better distribution of toys from DSV’s logistics (Kim, 2018).
Lastly, on the Company’s Human Resource Management Approach this ensured better marketing of the toy products globally.
Recommendations and Conclusion
It is recommended that the company should put in place operations in my country in order to realize excess net revenue through the sales of commodities. In addition, relative strength technique should be initiated to ensure easier calculations of the stock’s performance as well as that of the whole market get handsome investment. The company should pose uniqueness of its toys in order to outdo that of competitors
In conclusion, Spin Master Corp Company is effective in that it has ensured better tradeoffs emanating from the accrued benefits realized especially on increased net revenue
References
Hojin, P. A. R. K., & Shin, J. (2015). U.S. Patent Application No. 29/509,797.
Humphreys Jr, W. O., & Miclette Jr, S. E. (2017). U.S. Patent Application No. 29/531,609.
Keeble, D. E. (2018). U.S. Patent Application No. 29/593,390.
Kim, E. (2018). U.S. Patent Application No. 29/589,720.
Lagier, J. (2016). U.S. Patent Application No. 29/501,853.
Woodworth, A., & Suarez, B. (2015). U.S. Patent No. 8,991,750. Washington, DC: U.S. Patent and Trademark Office.