Toys Industry in Hong Kong

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1.) Understand the reasons for the growth of the toy industry. Hong Kong companies play an extremely important role in the world toy industry. Hong Kong’s toy industry produces a wide variety of products. Hong Kong toy manufacturers have developed deep market, customer, logistics and production knowledge and have broad networks. Hong Kong toy manufacturers distinguish themselves from competitors through quick responses, efficiency, reliability and through their compliance with common standards, regulations, intellectual property rights and codes of practices Taiwan and Korea have already moved to higher tech/higher value industries. India, Vietnam, Thailand, Philippines, Indonesia, Bangladesh and Sri Lanka competitors have been beaten by lower production costs in the Chinese Mainland and by logistics systems, often based in Hong Kong, that link production in China to global markets. Thus the expectation is that Hong Kong and Hong Kong Companies will continue to have a strong competitive position, though margins may come increasingly under threat. In the PRD, the technology in the toy industry is already quite advanced, but Hong Kong firms have dealt more extensively and over a longer period of time than most competitors with international firms that require manufacturing to be done to global standards and in compliance with stringent requirements. Some Hong Kong firms have engaged in technology reengineering projects to maintain their competitive edge, others have focused on combining engineering excellence and design capabilities to build new features into toys. Constantly evaluates its position and adjusts its business model and product development efforts according to market forces. When the market was simpler, the firm made simple and small toys. When that market became saturated, the firm began making more complicated electronic toys. When the markets

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