Strategic Global Marketing Plan: Fisher-Price Communication Strategy

This report presents a comprehensive global marketing plan for Fisher-Price, addressing the company's challenges and opportunities in the market. It begins with an introduction to Fisher-Price, highlighting its history and current market position, followed by an analysis of the problems faced by the company, including product recalls and brand image issues. The report then proposes an integrated marketing communication plan, incorporating situational analysis using SWOT and PESTLE frameworks, setting clear objectives, defining target markets through STP (Segmentation, Targeting, and Positioning), understanding the competition, and outlining strategies for reaching the audience. The plan focuses on regaining brand image in the American market through social media campaigns and new product launches, emphasizing the importance of customer trust and effective communication channels. The ultimate goal is to enhance Fisher-Price's market position and attract more customers.

Global Marketing
Planning & Strategy

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Integrated Marketing communication plan......................................................................................4
CONCLUSION..............................................................................................................................15
REFERENCES:.............................................................................................................................16
Books and Journals...............................................................................................................16

INTRODUCTION
Marketing plan plays a critical role in enhancing the brand image of a company and to
attract more customers. It is necessary to conduct proper research so that best can be provided to
the customers by checking their needs and wants (Stevens and et.al., 2021). This report is based
on Fisher-price that is an American toy manufacture company. It is important to analyse the
problems face by the company at the time of working so that better solutions are being provided
to them. In this report, the marketing plan is formulated that helps to solve the problems of
company. It is necessary to capture the needs and wants of customers and the discussion related
to same is done with the help of models. By setting clear objectives a company is able to attain
them in proper manner. It is also necessary to monitor the results and the evaluation related to
same is part of this report. In the end, there is discussion related to the research strategy used to
analyse and collect the data.
MAIN BODY
About the company
Fisher-price is a multinational company that was established 90 years ago in 1961. It was
founded by Quaker Oats. The company works to satisfy the needs and wants of the small
children and to serve their needs and wants in effective manner. There is need of fulfilling the
needs of customers so that they are able to attain effective position in market. The company has
its overseas operations, in around 140 countries. The revenue from overseas sales account to
40% of their overall revenue.
Analysing the problem
The business organisation was earning good amount of profit but some of the products
served by the company caused problems. It is analysed that the company once tried to produce
toys for older children but were unsuccessful (Richardson, 2019). Along with that the Rock n
Play was being linked to death of more than 50 infants. This is the reason the company has to

recall the product. This reduces the brand image of the company. This is one of the major issue
that the business organisation faced at the time of their operations. The company has faced
problem in American market. There are various other players in global market that deal in
similar products and services and the customers switch to them. Fisher price has lost its position
due to huge competition being faced by them. Along with that unsuccessful product of the
company creates bad image of the company.
The Fisher price must work on gaining their brand image again in American market first.
It is their home country and due to this reason having positive image their will help the brand to
operate effectively. For this reason, The Fisher price must use integrated marketing plan that will
help them to communicate with the customers. The communication and interaction with the
brand will benefit them and enhance their image in market again. The use of best marketing tools
is necessary to enhance the reposition the brand.
Integrated Marketing communication plan
Integrated marketing communication helps the business organisation to reach more
customers and communicated with them effectively. This helps the brand to share all the relevant
information with the customers so that they are able to understand the brand (Juska, 2021).
Marketing plan is a strategy that is being used by business organisation enhance the sales of its
product. There is need of carrying the work in such a manner that best is being served to the
customer's. It helps to carry on the work is best possible manner and solve the problems that are
faced by the customers. There are several steps that are being involved in carrying the work
effectively and reach the customers. The marketing plan is relationship to Fisher-price is
mentioned below:

Situational analysis
In order to know about the situation of the company, it is necessary to carry on the
SWOT analysis. It becomes necessary to know about the strengths and weakness of the
company. SWOT analysis is a technique used to measure company's competitive position and
help to plan strategies accordingly (Benzaghta and et.al., 2021). There are various internal and
external factors affecting the functioning of company. It analyses both internal and external
factors and helps in the development of company. Regular analysis is done for smooth
functioning of business. Generally, SWOT analysis is used for analysing the operations of the
company so that it can ensure increase in its efficiency. SWOT analysis is a process which helps
the company to identify its strengths, work on its weaknesses so that it can overcome threats and
can grab as many opportunities as it can. SWOT Analysis in regard to Fisher-price is as follows:
Strengths
 The company has established effective
brand image in the market as they are
operating from last 90 years.
 The use of new products assists the
company to carry on their operations in
effective manner (Marzuki and et.al.,
2021). This attracts the customers
towards the business and they are able
to retain them.
Weaknesses
 One of the major weakness of the
company is that they do not test the
products before launching them in
market (Gilliard, Hoffman and
Baalbaki, 2019).
 There are certain unsuccessful projects
undertaken by company. All these
projects reduce the brand image of the
business and reduces the brand image.
Opportunities
 There are various opportunities that are
present in market. One of them is to use
digital marketing platforms in order to
reach more customer.
 Fisher-price can adopt product
development strategy as it will help the
company to attain successful position in
international market.
Threats
 The threat is regarding the competition.
There are several competitions of
Fisher-price in the market. At the same
time the brand image of company is
also diminishing due to the
unsuccessful projects undertaken by
them ((Untari and et.al., 2019).

 Along with that Covid-19 has also
enhanced threat for the business
organisation.
PESTLE Analysis
This is the framework which is been used by the organisation in order to evaluate various
forces which can affect their business operations. There are multiple aspects which is been
described below:
 Political factor – This is the stage in which there are various rules and regulations which
is been abided by the government. Fisher price is the organisation which needs to fulfil
all the rules and regulation in order to enhance the business operations in various other
regions.
 Economic factor – The economic factors includes growth and employment and various
exchange rates which is been evolving in the market. Fisher price needs to focus on
multiple factors and provide the effective employment opportunities to the candidates.
There are various benefits which needs to be provided to the staff.
 Social factor – There are various social factors which needs to be followed by the
organisation in order to provide the needs of the society. Fisher price is focusing on
providing excellent quality products to the customers in order to generate more revenues.
 Technological factor – Most of the organisation is investing in the technological factors.
Fisher price is making their infrastructure more digital in order to attain greater results in
market and achieve sustainability at a rapid pace.
 Legal factor – The legal factor is been generally complied with focusing different laws
and legislations and focuses on providing the excellent quality products,
 Environmental factor – There are various environmental factors which needs to be
identified by the organisation. Fisher price is reducing the carbon emissions which will
help them to become more sustainable in the market.
Positioning map
This is the map which will help the organisation to identify the potential customers and
they can provide effective services to them. The aspects of the positioning map is been described
below:

 Identify the customers – The organisation needs to serve the products to the customers
which can be satisfied. Fisher price needs to formulate strategies in order to provide the
products to the customers.
 Serve them with right products and services – Fisher-price management needs to uplift
the quality of the products which will help them to become more competitive and
enhance the overall sales in the market.
Objectives
The company must analyse the problem that is being faced by the company. These
objective are formulated to solve the problems and attain a successful position in market. It is
important to set the objectives for Fisher-price and they are as follows:
 To gain the brand image back in 6 months in American market
 To attract more customers by 5% in next quarter by the use of social media platforms
Strategy
In order to enhance the image of Fisher price again, there is need of using the best
communication channels. In today’s digital era, the use of social media channels will help the
company to carry on the business (Brown and Brown, 2019). There is need of launching
campaigns of social media that would help to reach more customers. The company will carry on
research so that they are able to analyse the current needs of children. Then they will launch new
toy by testing its security. It will be advertised on social media channels such as Facebook,
Instagram, YouTube, Twitter etc. so that all the parents are able to know about the new product
launched by the company (Olson and et.al., 2021).

Target market (STP)
In order to achieve these objectives, the company must select the target customers so that
they are able to attain goals and objectives. There is need of focusing on the quality of products
so that the customers can trust the brand again (Romppanen, 2021). It is necessary take proper
care of the health of the customers and then satisfy their needs and wants.
Segmentation: It is the process of dividing the overall population in smaller groups so
that they can be categorised. There are certain ways of segmentation such as geographic,
demographic, psychographic and behavioural. The Fisher Price needs to take care about the
segments in which customers work so that they are able to choose best among them. In America
there are different category of people and it becomes important to provide best to the customers
as per their target market.

Targeting: There is need of targeting the customers from the segmentation so that all the needs
and wants can be served properly. Fisher-price will use demographic segmentation and target
the customers as per the age in America. They make toys for the young children and it is not
possible to communicate with them and attract them. In order to attract the customers of any
company it is necessary to have regular communication with them. There use of social media
channels will be done to attract the customers (Camilleri, 2018). The parents of small children
are the target customers and will be attracted by the company.
Positioning: It is the strategy of setting image of a company in the mind of customers..
Fisher-price works to create positive brand image in the minds of customers so that they are able
to work effectively. The company will start new campaigns on social media that would help the
company to regain their image in market. It becomes important to gain trust of customers again,
Understand the competition
It is important to analyse competition in the market so that best strategy is used by Fisher
price to gain lead over other players in market. Competition analysis is important for the overall
success of the business.
Reaching the audience
There are various channels which can used in order to reach towards the right audience.
Fisher price can use the new social media channels which will help them to achieve greater
results in the market. The organisation can focus on using the new technological tools which will
provide them certain benefits in an effective manner.
Porter five forces Model
In order to understand the competition one of the main model that can be used by the
organisation is the Porter's five forces model. This model is used by the business organisations in
order to analyse the level of the competition in the market (Bruijl and Gerard, 2018). This helps
the business organisation to find out the main sources of competition that is affecting the
operational activities in the workplace. Porter's five forces model in relation to the Fisher-price
is mentioned below:
Competitive rivalry: This part of the model states that the number of competition
business faces in the market. This generally affects the operational activities at the workplace
and also results in the decreasing of the profits as market are capture by number of sellers. There
are various number of competition is present in the market which are serving the identical

products to the customers. In relation to the Fisher-price, it is one of the oldest toy manufacturing
company in the America. They have established as a strong brand image and for that the threat of
the competition is low.
Supplier power: It means the power of the suppliers that to which extent they can
manipulate the price of the raw material or the unfurnished goods. If there are more suppliers in
the market, then the producer has more option to go for a cheaper one and the vice-versa. In
relation to the Fisher-price company, management department focuses on to make healthier
relationship with the suppliers through which they do not face any challenges in buying the raw
materials.
Buyer power: This means that the power of the customers they have in relation to the
buying of the products or using of services of the company. Large number of sellers in the
market provides more opportunities to the customers in the market as they can easily shift to that
business who is providing same products or the services at a cheaper rate (Kollias, and Zafeiriou,
2021). They have more power when there are few buyers in relation to the specific products or
services. Fisher-price company is one of the most valuable brand that is serving toys to the
children. Power of the buyers is very low because in the country of America, there are few
sellers who are producing toys for children.
Threat for new entrants: It means that the operational activities in the market can be
affected easily when any new business comes in the market. Generally new businesses come in
those market where they see the opportunity of earning good amount of money. It can also be
defined as the how much is easy or challenging for the new competitor to come and run the
business in the marketplace. In relation to the fisher-price company, they are operating in the

America. Any new business can easily come and set up their business with the legal formalities.
Risk of the threat for new entrants is high for the toy manufacturer company.
Threat of substitute: It means the power of the businesses in order to provide the same
products or the services that are being provided by the business before in the market. This highly
affects the operational activities in the market (Ozbekler and Ozturkoglu, 2020). In relation to the
fisher-price company, they are manufacturing the toys for the children for the age of the 5 years.
There are various competitors are present in the market for the fisher-price that are producing
same products to the customers in the market. Threat for the substitute is very high for the fisher-
price company in the market of the America.
Strategy to reach customers
There are various strategies that are present for the organisations in order to promote and
target the audience in the market. This facilitates the business organisation in order to promote
the goods and the services in the market. Fisher-price company will use the promotional mix
technique in order to reach more and more potential customers in the market (Ali and Anwar,
2021). Four P's of marketing can be defined as all those factors that facilitates the organisation in
order to promote the goods and the services in the market. It is the essential part of the marketing
mix that are mentioned below in relation to the fisher-price:
Product: It means that the goods or the services that is produced by the organisations in
order to satisfy the needs and the wants of the customers. Various decision has to be taken by the
organisations like designing, volume, name of the products. In relation to the fisher-price
company, they should focus on to make the toys in order to consider the safety of the children
(Lahtinen, Dietrich and Rundle-Thiele, 2020). Quality department should focus on to implement
safety measures through which the children should not get hutted. The company must analyse the
requirements of the customers and then launch a new toy that is safe and best suitable for the
customers. The customers of the company are young children so there is need of proving best
products for them.

Price: In order to increase the sales of their toys in the market, they will use competitive
pricing. This will facilitate the organisation to stay ahead from the competition in the market.
The company needs to work according to the trend in the market and provide value in return of
price paid by them.
Promotion: This means that all the promotional activities that are undertaken by the
organisations in order to advertise the products and the services in the market. Through this the
organisation and the business firms can attract large number of customer towards the business. In
relation to the fisher-price organisation, they will use social media platforms in order to aware
the toys they are introducing in relation to the safety of the children. This will facilitate the
organisation to attract large number of customers in the market.
Place: It is the last part of the 4 P's of marketing. In this the decision is taken regarding
the place in which the products have to be delivered. It also includes distribution channels
through which the company delivers their products in the market. In relation to the fisher-price
company, they will make contact with the various sellers in the market through which they can
deliver their toys in the market. The company will also provide the option of online delivery to
their customers so that they are able to get the products delivered at home.
AIDA Model