Moreover there is also high taxation on the industry currently there is 25 per

Moreover there is also high taxation on the industry

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Moreover there is also high taxation on the industry, currently there is 25 per cent import duty on import of toys followed by 16 per cent sales tax, four per cent income tax and one per cent federal excise duty. On the other hand import trade price (ITP), charged by the Customs, and ranges between $1.40 to $3.0 per kg. The famous brands are also presented in Pakistani market; famous brands are Hot Wheels, Lego, and Barbie dolls. The famous outlets offers wide range of variety and thus people are now becoming more brand conscious while shopping toys. Not just price but now other variable like safety is considered important in buying toys. That is brings implication for new ventures to craft differentiation. The famous toy retail brand “Early Learning Centre” came to Pakistan while opening their first retail outlet in Dolmen Mall, Karachi, on Friday 23rd November 2009. It’s quite shocking that having a huge market demand of toys there isn’t any Pakistani based toy manufacturing company yet in Pakistan. But we surely will not remain that space empty by launching our toy manufacturing company named as “Smart Toys” in Pakistan.
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5. Competitive Analysis: In Pakistan we are going to start a new toy industry. There is no any other toy industry in Pakistan, but our competitor is the import of toys from foreign country. They can affect industry. Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. Our analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what is called "informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives." As a result, traditional environmental scanning places many firms at risk of dangerous competitive blind spots due to a lack of robust competitor analysis. Competitor Analysis: One common and useful technique is constructing a competitor array. The steps include: Define your industry – scope and nature of the industry. Determine who your competitors are: our industry is toys industry in which we are going to form toys for the children in our own country. There is huge scope of the toys in the Pakistan because of there is no any other toys industry in our country. We are only import toys from the foreign countries. Our competitors are the foreign companies which are import their toys in our Pakistan. But there is no permanent competitor in our country.
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  • Spring '16
  • Sir Abdul salam
  • Marketing, Smart Toys

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