Hero Builders Firm’s Marketing Strategy Analysis Case Study

Type of study, research evaluation, research plan.

The type of study adopted by Emil Vicale is an exploratory study. He does not have a specific goal or problem to solve by the study; instead, he is only interested in establishing the viability and feasibility of the toy production company. According to Dudovskiy (2019), exploratory research studies aim to investigate a problem that has not been clearly defined. As implied by the name, its main objective is merely to explore the study question or the identified problem and not provide any conclusive results to aid decision making. Exploratory studies are often used to better understand a problem, a potential business opportunity, or a gap in the field of economics.

Following increased individual requests for his brand of custom-made toys and action figures, Vicale decided to conduct an exploratory study to investigate the potential for the action figure business (Schindler, 2019). In general, the research is done in a descriptive format assessing and reporting on several market trends and relevant competitors, such as Hasbro. Dudovskiy (2019) highlights that the exploratory research design is developed to help researchers and entrepreneurs explore an existing problem or gap in the market in varying levels of depth. It starts with general understandings or ideas of business opportunities and builds to identify specific issues that can be the focus of future more comprehensive studies aimed at developing solutions for decision making.

Recognizing the potential for venturing into action figures, the president of Hero Builders uncovered details such as the extent and scope of the doll industry through an internet search. After identifying the main competitors, Vacale then additionally investigated the retail environment. It revealed that toy stores started to stock more Hero villain toys on their shelves as they attracted customers. The entrepreneur also discovered a significant competitive advantage over all the other manufacturers in his Rapid Prototyping Technology (RPT) and the uniqueness of developing dolls in the image of modern-day heroes who many people related to. The firm ultimately found that prototypes’ uniqueness positively affected the growth of the sales figures.

Because Vicale only formulated an exploratory research process before the hero and villain action figures launch, HeroBuilders.com’s research was ineffective. According to Schindler (2019), six major standards are significant and are required for business research to be successful and provide ample information for effective decision making. These standards include a clearly defined purpose of a study, a thoroughly planned and executed research design and methodology, adoption of practical ethical standards in the study, adequate analysis to supplement decision makers’ needs, and a detailed reporting and justification of the findings and conclusions made. Nunn and McGuire (2010) advance that effective business planning and research enables a business to leverage adequate information, knowledge, and competence of the human resource to develop strategic goals and directions for an organization that contributes to the best chances of success.

Vicale initiated this research to identify the most suitable growth strategy for the action figures e-commerce (dependent variable). The company’s efforts to introduce their action dolls into the existing toy retail market was the independent variable (Schindler, 2019). The fact that girls were found to be also interested in such toys became the moderating variable. The researchers asked lawyers to assess possible effects to the growth strategy if competitors introduce their hero dolls prototypes (the control variable). Media was the confounding variable since it increased the number of requests making the company produce more dolls to meet the demand. The main obstacle was high competition threatening any possible growth strategy.

However, the study lacked any focused research topic or purpose, such as identifying a niche market or developing an effective marketing strategy for the new products they were bringing into the market. The study did not have a well-planned and executed research strategy either and did not offer any meaningful solutions regarding how to sell the product on the toy market for maximum productivity of the resources used and ultimate profitability. As a result, although the company experienced significant success launching the hero and villain action figures into the market, they were soon overwhelmed due to significant unpreparedness.

Following the exploratory study, Vicale should have carried out more detailed and focused research to ensure the development of an effective market entry strategy to assure adequate preparedness and success. In addition to the internet search that revealed the harsh competition within the doll-making industry and the retailing and legal issues, effective product and customer analysis, marketing, and retailing strategies had to be included in the study. These issues would further uncover insights concerning potential partnerships and other market characteristics such as a niche market and effective pricing techniques.

Despite already receiving multiple requests for the product from friends, Hero Builders had to conduct a product and customer analysis. It would contribute immensely toward adequate decision-making on the number of products required, the different types, and the specification of products needed. Additional research would also provide feedback on the popularity and quality of the products to enhance growth and development further. Chang and Taylor (2016) affirm that conducting product analysis and involving potential customers in the idealization and launching stages of new products impacts the ultimate financial performance of the product both directly and indirectly through accelerating the time to market. This would help the company better plan adequate volumes of the product and avoid unpreparedness.

Moreover, a marketing strategy analysis would help the firm identify the best ways of promoting the final product to the masses and how to best launch it into the market, maximizing profits and positive outcomes. Obasan, Ariyo, and Banjo (2015) confirm that marketing factors such as product, promotion, price, and place strategies are significant considerations in business since they are directly linked with the ultimate product performance within the market. Conducting a marketing analysis would help introduce the Hero villain action figures effectively into the doll business and consequently yield maximum outcomes and success.

Chang, W., & Taylor, S. (2016). The Effectiveness of Customer Participation in New Product Development: A Meta-Analysis. Journal of Marketing , 80 (1), 47-64.

Dudovskiy, J. (2019). Exploratory Research – Research-Methodology. Research-Methodology. Web.

Nunn, L., & McGuire, B. (2010). The Importance of a Good Business Plan. Journal of Business & Economics Research (JBER) , 8 (2). Web.

Obasan, K., Ariyo, O., & Hassan, B. (2015). Marketing strategy and product performance: a study of selected firms in Nigeria. Ethiopian Journal of Environmental Studies and Management , 8 (6), 669.

Schindler P. S. (2019). Business Research Methods (13th ed.). McGraw-Hill.

  • Chicago (A-D)
  • Chicago (N-B)

IvyPanda. (2022, July 31). Hero Builders Firm's Marketing Strategy Analysis. https://ivypanda.com/essays/hero-builders-firms-marketing-strategy-analysis/

"Hero Builders Firm's Marketing Strategy Analysis." IvyPanda , 31 July 2022, ivypanda.com/essays/hero-builders-firms-marketing-strategy-analysis/.

IvyPanda . (2022) 'Hero Builders Firm's Marketing Strategy Analysis'. 31 July.

IvyPanda . 2022. "Hero Builders Firm's Marketing Strategy Analysis." July 31, 2022. https://ivypanda.com/essays/hero-builders-firms-marketing-strategy-analysis/.

1. IvyPanda . "Hero Builders Firm's Marketing Strategy Analysis." July 31, 2022. https://ivypanda.com/essays/hero-builders-firms-marketing-strategy-analysis/.

Bibliography

IvyPanda . "Hero Builders Firm's Marketing Strategy Analysis." July 31, 2022. https://ivypanda.com/essays/hero-builders-firms-marketing-strategy-analysis/.

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Hero Builders Case Study

Which of the four types of the studies are presented in this case. Research details mentioned in the case complies with the requirements of the descriptive tube of research. As we see from the research researcher collected data and tried to reveal the other players of the market and general trends. The study answers to the question “who? ” and considering clarifications of legal side that mentioned in the research to the question “hour.

Drawing conclusion from that features we relate it to he descriptive type of the research. . What issues, other than those Veal chose to evaluate, would you have Included In your research plan for Herbicides. Com? Although the Hurdlers. Com succeeded in business and gained popularity we observed few important issues that were omitted by Mr..

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Veal and they constitute gaps of the research which should be considered before marketing product. 1. Promotion: From the research we do not observe any actions in this direction. No research regarding promotion means was observed initially to promote the product In the market. 2.

Price: Mr..

Vehicle researched for identifying the major players In the market not their price policy. Price issue Is also Important In the profitability of the business. So It also should be considered.

3. Customer segment: We would add Identification of potential customer segment as well to the research. This could be helpful In focusing on special category of customers and Increase popularity and profits of the business. 4. Distribution canals are also avoided In the research. Potential of either online selling and selling via toy shops should be Investigated profoundly.

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Case Study: Hero Builder

Below are the questions posed at the end of the HeroBuilders.com case study and my responses to each question:

  • Which of the four types of studies are presented in this case?

One of the studies we can see in this case study is observational data collection.  Vicale collected his data through observations.  We can see this through him visiting website of toy makers and visiting the retail stores to review their toy aisle inventory. 

  • Using the criteria in Exhibit 2-1, evaluate the research that HeroBuilders.com conducted prior to launching its hero and villain action figure business?

I can see High Ethical Standards Applied prior to launching the action figures.  When Vicale consulted an attorney on if there would be issues with creating action figures that had the likeness of known leaders (i.e., the President of the United States).  Additionally, the Adequate Analysis for Decision Makers Needs that also utilized in this case study.  Emil needed to identify what individuals would be the most popular to create the action figures.  He went to the internet and found multiple companies such as Hasbro.  He also reviewed retail stores with their toy aisles. 

  • What issues, other than those Vicale chose to evaluate, would you have included in your research plan for HeroBuilders.com?

I would have included in my research some internet analytics.  Through this avenue I could identify potential trends in leaders I could focus production on.  Also, other pop culture trend setters.  Based on the data collected through analytics I could exercise a social media platform for people to vote of what action figure they wanted to see next.  This could give me direct feedback from customers as well as help to create potential action figure sales as the voting is a form of advertisement before the product becomes available. 

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  8. Hero Builders Firm's Marketing Strategy Analysis Case Study

    Moreover, a marketing strategy analysis would help the firm identify the best ways of promoting the final product to the masses and how to best launch it into the market, maximizing profits and positive outcomes. Obasan, Ariyo, and Banjo (2015) confirm that marketing factors such as product, promotion, price, and place strategies are ...

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    Hero Builders' Case Study: Business Marketing. In this case, the details provided satisfy the requirements of the descriptive type of study. Usually, descriptive case studies are focused and rich in detail. They extensively scrutinize and articulate any questions there may be regarding the phenomenon in the study (Kim et al., 2017).

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    1.) Which of the four types of studies are presented in this case. 2.) Using the criteria in Exhibit 2-1, evaluate the research that HeroBuilders.com conducted prior to launching its hero and villain action figure business. 3.) What issues, other than those Vicale chose to evaluate, would you have included in your research plan […]

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    HERO BUILDERS ASSIGNMENT 3 research completed for HeroBuilders.com to the standard actions, one can see multiple effective research processes. The first action is to have the purpose behind your research clearly defined. In this case study, Emil Vicale explains that the purpose of the research is to analyze other companies who sell action figure dolls and to get a better understanding of ...

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