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APA
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Business & Marketing
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English (U.S.)
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Topic:

Toys R Us Marketing Strategy and Downfall

Term Paper Instructions:

The purpose of this assignment is to identify the inputs of a marketing strategy, assess how the marketing mix (4 P's) is used to target customers, and explain how a marketing plan tracks progress, evaluates impacts of a competitive environment, and helps a company adjust their efforts when necessary. Once you complete this assignment you will complete MLOs 3.1, 6.2, and 10.4.
Instructions
In this exercise, read through the situational overview below and watch the corresponding video regarding Toys R Us. Using the information presented in Module 1, answer the following questions. Your answers should use a 12 point font, be double spaced, and use APA formatting to cite references on the last page of your assignment (if you use any external sources). It should be submitted as a Word or PDF document.
Situational Overview
Toys R Us is a company that was in business for many years and served a variety of customers during its tenure. The company went into liquidation in 2018 closing virtually all of the retail stores throughout the world. They attempted to save the business with multiple strategies but did not have enough luck to do so. The company failed to adapt to the pressures of competition in the market including segmentation of specialty goods (Babies R Us) and eCommerce toy sales. Although the landscape was changing rapidly, Toys R Us continued to connect with consumers in a large scale retail model. Even though their marketplace and their marketing environment changed, they remained stagnant and ended up filing for bankruptcy.
Watch the Video
View the following video to learn more about the rise and fall of Toys R Us by clicking on the play button below.
Answer the following questions:
What marketing strategy did Toys R Us utilize? Explain how that strategy contributed to the downfall of the company.
Identify the marketing mix (4 P's) that Toys R Us implemented to connect with consumers (include explanations of all four factors).
What environmental factors had the largest impact on Toys R Us? Why?
Why was it important for Toys R Us to understand the wants and needs of the customer?
In your opinion, what changes should Toys R Us have implemented to create a profitable business?
https://youtu(dot)be/7Actdg5JcM8 link to video for assignment

Term Paper Sample Content Preview:

Toys R Us Marketing Strategy and Downfall
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Toys R Us Marketing Strategy and Downfall
Toys R Us (TRU) was the go-to stop toys solutions (CNBC, 2018). However, due to various reasons, the company went into liquidation in 2018, closing all its stores worldwide. While the company's marketing strategy might have been the cause of its growth, reluctance to change might have caused its downfall.
TRU Marketing Strategy
The product strategy was TRUs primary strategy. The product strategy focuses on a company's product offering by stating how the products are headed, how they will get there, and how success will be realized. Thus, the strategy enables the company to target a specific target market. Therefore, through a focus product strategy, the company retained a large market base and developed products to entice it (Thomison, 2016). Another strategy used was customer experience because the business stores were out-of-town, and customers were happy to drive out to get products. However, the two strategies proved to the downfall in the long run. With newly emerging sellers, both online and physical, the out-of-town experience was no longer appealing. Furthermore, the market became flooded with more or less similar products, some of which we bought from China cheaply. Thus, the product strategy b...
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