Marketing Product Strategy

PRODUCT STRATEGY:

Product strategy is mainly categorized in 3 things:

1. Core Product/ Benefit Level: This is the main functional benefit of the product/ service. It signifies the positioning of the brand. So, in this case our core product/ benefit level is recreation and entertainment.

1. Actual Product Level: This product level is also known as Generic product level. And this signifies the outlook of the product and also gives the customers an idea of how the product is categorized, what is it all about. And for our brand the product category is mainly action figures, vehicles, outdoor/ sport related, dolls, arts and crafts/ kits/ sets models, stuffed animals and dolls and building sets. We even have video games and accessories, smart phones, ipads and tablets, preschool toys, electronic gaming consoles and devices, puzzles and games and electronic learning toys.

The brands that we chose to feature in our toy store are:

Animal planet, Crayola, Dream Dazzlers, Fisher Price, Hot Wheels, Nitendo, Nerf, Playmobil, Step 2, Leap Frog, Lego, Imaginarium, Fast lane, Vtech, FAO Schwarz.

There will be some additional categories such as,

Merchandises: movie and cartoon.

Merchandises: T-shirts of action figures, posters, etc.

Comic books, electronic gaming devices (PS, Xbox, etc) and games.

1. Augmented Product Level: Under this lies the features beyond the outlook of the products. This signifies the special benefits or the after sale services provided by a product/ service. So in case of our toy store, we expect to provide after sale services in some specific toy categories. Most toys of international brands come with a specific time period guarantee or warranty which are not usually viable in a country like Bangladesh. However, due to our expected close contact with the toy brands, they would provide our customers with this benefit. Moreover, we will also provide assembling service so as to fit the toys which are complex in nature at customers’ homes through our own personnel. Also, the fact that most of our products are original and shelved directly from manufacturer’s factory would make us unique.

Product  Strategy to Build Brand Equity: