Hasbro Inc. Marketing Plan for new Service Research Proposal

Hasbro Inc. Marketing Plan for new Service - Research Proposal Example In order for the services to be rolled out successfully, it is imperative that a market research be conducted to establish the marketing plan of the services. Hasbro relies on the 7 Ps of marketing to reduce the customer gap and increase customer satisfaction. In this paper, the main competitors, current and future, the marketing mix plan, the customer expectations and explicit recommendations are prominent. Hasbro is one of the largest toy and games manufacturers in the world. Over the past three decades the toy and games industry has experienced increased competition which has necessitated the industry players to diversify their products in order to survive the cut-throat competition and stay relevant (Betz, 2014). Hasbro has been on the forefront in diversification, both vertical and horizontal. Rapid diversification has enabled Hasbro to shrug off competition from other toy manufacturers and increase its market share in the US market. Currently, it is the second largest toy manufacturer in the US after Mattel in terms of revenues and number of employees (Naylor, 2014). Hasbro has, for instance, produced many internationally recognized brands such as G. I. Joe, the Transformers and many Marvel toys. It is also renowned for its board games like Monopoly and Scrabble and a host of video games too. Of late, Hasbro has been producing films, adding it to its ever widening portfolio. The f ilms are both live action and animated. In line with the diversification policies, Hasbro has decided to include service provision in its portfolio. The services will involve setting up game rental kiosks for rental services and party planning services. This paper investigates then proposes a viable marketing plan for the new services the enterprise plans to introduce. The paper conducts a SWOT analysis of the company, compares it against its present and future competitors, explores the service programs to be rolled out and, lastly, explicates the