Quality Management Toys Ltd

Question: Discuss about theQuality Management for Toys Ltd. Answer: Introduction Toys Ltd. should implement in order to achieve higher results in its sales improving sales performance force performance, and also to explore how these improvements should be implemented. Toys Ltd. is a middle size private owned enterprise that was established in 1990 with the acquiring of facilities in Cyprus. The company is merchandising over 3000 different products in toys area per year and it is ranked as relative one of the Middle-size Wholesalers in Cyprus. More specifically, Toys toys main domain is to import selected toys from factories mainly in China (also it imports products from Italy, Turkey and Germany) and then storage them (Coelho, 2016). The sales team comes then and it promotes all of the products to costumers mainly in Cyprus in wholesalers and final retailers. Academic, researchers and consultants support that key elements for the improvement of the sales operations of a firm include development of an effective reward system, completion of training sessions, colla boration between sales and marketing departments, and adoption of relationship marketing strategies, which concentrate in long-term relationships and profitability. After the analysis of the current situation of the company and its business environment it was found that, Toys Ltd. implements a tactic that is volume oriented. Moreover, the company does not organize training session for its sales personnel and has not created a marketing department. Besides that, improving sales performance the educational background of the stuff is weak. All these weaknesses make the firm less competitive. The conduction of the external analysis indicated that GDP growth and consumption rate are declining, specifying the weak foundation of the Greek economy. In the same length, birth rate is also declining, and this fact reduces the target audience and sales performance of the firm (Thomas, 2013). Analysis also showed that toy market is characterized by high concentration; more specifically, the leader of the market (Jumbo) holds the 36 % of the market. Hence, large competitors have better negotiation power resulting in the offering of better promotions and lower prices. Finally, analysis showed that Cyprus retail sector is declining following the trend of the other sectors of the economy. After the analysis of the academic literature and the external and internal environment of Toys Ltd., some recommendation could be sketched (Ni, Flynn Jacobs, 2016). First, Toys Ltd. should establish a marketing department, which will be responsible to assemble and analyze market data (market share, competitors share, retail sector evolution, customers data etc.); create and develop communication campaigns; support salespersons to develop their customer base, and maintain the good and profitable relationships with the loyal customers of the firm. Moreover, the duties of the marketing department will focus on the establishment of the brand of the company. Secondly, Toys Ltd. can focus in new product categories such as electrical and high tech games, which illustrate high growth. Thirdly, Toys Ltd. should make some improving sales performance improvements it its recruiting system focusing in education background and working experience. In the same length, the firm should introduce training session for sales representatives concerning sales and key account management. Finally, taking advantage of digital technologies, Toys Ltd. should develop a CRM strategy in order to develop long term profitable relationships with retailers and wholesalers. This strategy includes three basic steps: 1) acquire the customer, 2) retain the customer in the company, and 3) extend the relationship resulting in augmented purchases and profits (Tan, Tse Chen, 2014). Reference List Coelho, C. M. (2016).Science4you in UK: a toy story(Doctoral dissertation). Ni, J., Flynn, B. B., Jacobs, F. R. (2016). The effect of a toy industry product recall announcement on shareholder wealth.International Journal of Production Research,54(18), 5404-5415. Tan, K. H., Tse, Y. K., Chen, J. (2014). Quality risk in global supply networks.Global Supply Chain Quality Management: Product Recalls and Their Impact, 47. Thomas, V. (2013). Playing at the crossroads.