Toy2R: A PIONEER OF CREATIVE DESIGNER TOY IN HONG KONG Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Toy2R: A PIONEER OF CREATIVE DESIGNER TOY IN HONG KONG Case Solution

INTRODUCTION

Raymond Choy founded the company in 1995 where he combined his hobby with his obsession for private enterprise. Choy opened his shop in Mongkok city which is one of the most sparsely populated districts in the world.

He started his business by selling novels and exotic toys from the Europe, Japan and United states. When the company achieved growth in these districts, then here located its business in Tsimshatsui, where he sold provoking toys with the ideas of homosexuality, terror and aggression. However, the main objective of the company is to provide innovative, creative designer/ art toys at affordable price.(Kevin Au, Bernard Suen, and Daisy Wong, 2010)

During this period, the company had achieved numerous achievements in the toy business. Therefore, the company’s definition of art strategy influenced the global market and company achieved worldwide growth. As compared to the previous year’s analysis of the company’s data, it is believed that due to the continuous improvement in the business process, the company’s sales increased to $2376500 in 2009. On the other hand, the company started selling its product to the tourist areas thereby gaining publicity out of it which improved the market share of the company as well as provide wide range of opportunities.

The analysis of the company is divided into two parts: internal analysis and external analysis. The internal analysis of the company includes the strengths, weaknesses, resource base view and Mckinsey’s 7’s. The second part focuses on the external environment of the company which includes PEST analysis, opportunities and challenges, porter 5 forces and Ansoff metrics.

INTERNAL ANALYSIS OF THE COMPANY

The session covers the internal analysis of the company. The internal analysis is based on the SWOT analysis, which describes the strengths, weakness as well as the opportunities and challenges that will be discussed in external analysis of the company.

Strength

Toy2r is one of the largest and wealthiest in the world for innovative toy products.
The company has strong brand image in the market.
Innovative and differentiated product.
Successful experience of entering the toy business market.
Carrying only established brand name items.
Industry power and experience in cracking the foreign market.

Weaknesses

High operating cost
Seems to be an opportunist
No market research on feasibility study before launching a business.
No idea screening process. 5Q’s missing
No defined business model
Lack of customer focus
Market dominated to small stores and general stores.
The old fashion style of Toy does not changing the trend and tastes of kids.
Inflexible retailing approach
Costly production, located in high cost countries
The wrong management decision reduces the sales and market share of the company.

Due to its innovative and creative designs, the company improved its market share in the US market as well as in the Asian market. As per the analysis of the company’s financials, it is identified that the company increased its sales to $2376500 in 2009. However, due to the Asian financial crisis, the company’s sales declined and affected Choy’s the success of the business........................

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