Toy Companies Using Unconventional Methods to Stay Relevant and Reach the Evolving Minds of the Parents and Children

Abstract

The toy market has been one of the largest markets spread across the world with many familiar brands. These well-known brands are also known for some of their iconic collaborations despite their steady positive growth. This research is dedicated to finding the need for such companies to collaborate. The collaboration of these companies varies based on the industry to which the other company belongs. This chapter presents a systematic review on the information available regarding such collaborations while keeping the statistical figures and objective responses of the customers, critics, and the company in consideration. Apart from the well-known reasons about the need to collaborate, the research also tends to focus on the light yet important aspects. Based on the research, it can be concluded that companies find the need to collaborate irrespective of their sales and revenue generated.