Children also exert a powerful influence over their parents to buy them the latest products, influenced by TV advertising and peer group pressure. TV/film and the latest toy crazes are also important drivers, so a strong stream of new products heavily supported by the media will help to ensure regular uplifts in toy sales.
The big challenge is for toy retailers to avoid competing too heavily on price, so as to drive value growth in sales. This will be difficult given the slow pace of the economic recovery and the squeeze on incomes that will increase in 2011 due to austerity measures being introduced to cut the government borrowing deficit.
Licensed products will continue to be a major focus of new product launches, with ranges related to new TV or film releases supplementing long-established licensed ranges that continue to be popular. Educational toys that aid learning are also likely to see growth.
Nostalgic toys with a modern twist are another important area of the market and in terms of retailing the multi-channel combination of websites, catalogues and stores with a bit of added retail theatre will help drive incremental sales and reduce the heavy reliance on Christmas.
This portable Mini Photo Studio is designed to steer children away from video games and towards the artistic passion of photography. The concept came with the increase in popularity of social media and photo sharing, as well as a high percentage of digital camera ownership.
Mini Photo Studio is primarily focused in the market of arts and crafts products; selling a product that will help develop the creativity of the children and teenagers by learning the beautiful art of photography.
Demographic Analysis of Consumers
The main target market of the Mini Photo Studio is the young teenagers (9-16 years) who are interested in the artistic passion of photography. Children and young teenagers, who are aged between 9-16 years old, are generally interested in social networks, fashion, make-up, latest technology mobile phones and photography (Mintel, 2008). In addition, according to a 2008 Mintel Report the second feature used on mobile phones by young teenagers is the camera facility. Starting with 2003, young teenagers also have more disposable pocket-money to buy their own things and when shopping with parents their own decision is the most important.
There are different types of consumers interested in buying the Mini Photo Studio such as consumers interested to learn or develop the photography skills, or interested in modelling which are usually connected more with the celebrity. As Mintel Report says ”Celebrity endorsement is apparently more influential among children than among adults, with almost a quarter of parents claiming that their child/children aged 12+ are influenced by some kind of celebrity/pop/ sports star.”
The above characteristics of consumers were among the top factors that came with the increase in popularity of social media and photo sharing, as well as a high percentage of digital camera ownership. With the main focus on creating a product designed to increase the creativity of the teenagers and to keep them away from the use of the video games, which according to Mintel, parents are concerned that video games can become addicted to their children, so it is beneficial for us to focus on this type of consumer.
The consumers are those whose attitudes, behaviours, and use of goods are significantly important for their personal development and interest. They make brand choices based on new trends and celebrity endorsements. In fact, according to Mintel ”Children claim to place heavy emphasis on their own opinion when making purchasing decisions, with around 4 in 10 children claiming to be confident about their own opinions. Therefore any use of celebrities must not appear to dictate or lecture to children, instead allowing them to make informed purchase or usage decisions. This is especially important among older children, who are exerting their independence.”
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