Picking a winner is important. Many of these products target the same market. That is more than twice the budget for the U.S. Army and greater than the gross domestic product of many countries. Some firms still use this tactic. Today, Phelps explained, it is much more difficult to market toys, especially educational toys, when both parents and their children are actively involved in making the purchase decision.
Some firms try to persuade the parents.
Some stores use in-store demonstrations to reach both parent and child. All of this is at a time when retailers are trying to cut back on inventories. One problem is that consumer desire for a product can turn on a dime. Phelps says that increasingly, manufacturers and retailers alike are turning to marketing research for answers. He shares two examples that show the importance of the use of marketing research.