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Action figures are often based on characters from movies, comic books, military, video games or TV shows; fictional or historical. These figures are usually sold to boy and adult collectors. The term was coined by Hasbro in 1964 to market GIJoe to boys (while competitors called a similar product boy dolls). According to a Swedish study, action figures showing traditional male characteristics are mainly aimed at boys. Although most commonly marketed as children's toys, figures have become widely accepted as adult collectibles. In this case, the item may be produced and designed with the assumption that the item will be purchased for display only as a collectible, and not to be played as a children's toy. The term "action figure" was first coined by Hasbro in 1964 to market their GIJoe figures to boys who refused to play with "dolls," a term primarily associated with girls' toys. (Rosko Industries introduced a similar toy called JohnnyHero for Sears in 1965, but it was called a "boy doll" because the term "action figure" was not widely used at the time.) GIJoe was originally a The military-themed 11.5-inch figure was presented by marketing and toy creative Stan Weston. It features changeable clothes and a variety of uniforms to suit different purposes.
To make the toy popular globally, Hasbro also licenses the product to companies in other markets. These various licensees have generally the same uniforms and accessories that Hasbro manufactures for the U.S. market, as well as some suits that are unique to the local market. There are at least two examples in Japan where Hasbro licensees have also issued sublicenses for related products. For example, Palitoy (UK) sublicenses Japan's Tsukuda Corporation to manufacture and sell Palitoy's ActionMan accessories in the Japanese market. Takara also granted Medicom a sublicense to manufacture the action figures.
Takara is still licensed by Hasbro to manufacture and sell GIJoe toys in Japan, and also makes an action figure featuring a licensed GIJoe torso from HenshinCyborg-1, using clear plastic to reveal the cyborg innards, as well as a chrome head and cyborg feet . During the supply crisis of the 1970s, Takara, like many other action figure makers, struggled with the costs associated with making large 111⁄2-inch figures, so smaller versions of the robot toys were developed, Standing 33⁄4 inches tall, it was first sold under the Microman name in 1974. The Microman line was also novel in its use of interchangeable parts. This created the basis for smaller action figure sizes and shape-shifting robotic toys. Takara began making characters in the Microman series with more and more robotic features, including Robotman, a 12-inch robot with a space for a Microman pilot, and Mini-Robotman, a 33⁄4-inch version of the Robotman. The toys also feature interchangeable parts, with an emphasis on character transitions and combinations.
In 1971, Mego began licensing and producing American Marvel and DC comic book superhero figures, which sold very successfully and are today considered highly collectible by many adults. They eventually brought the Microman toy line to the United States as Micronauts, but Mego eventually lost control of the market after losing a license to produce Star Wars toys to Kenner in 1976. The widely successful 3⁄4" toy line of Kennametal's Star Wars 3 made newer, smaller-sized figures with molded costumes the industry standard. Rather than a single character's costume changing for different applications, the toy line Containing character teams with special features. Led by Star Wars-themed sales, collectible action figures quickly became a multimillion-dollar secondary business for movie studios.