S. Motorola is introducing a new phone that incorporates Internet surfing capa bility using new LTE technology,a GPS program, and other new features that will greatly expand the features available on a cell phone. Develop a marketing strategy for the launch of the new product MANAGEMENT DECISION CASE Product Development and Renewal in the Toy Market oy manufacturers have a tricky task, Each year they the remote-control vehicle, the vehicle\'s brand name, characters from a new crop of TV the remote controller itself, and a warranty for a spe- and movies without actualy knowing for sure cific time frame. In terms of the enhanced product, for ones will be popular-hoping to sell enough Barbie it includes interactive play on the website, while gain an accept for a Tyco remote-control vehicle it might include an product related to those characters to able ROL In addition, they develop other nonlicensed owners group in which people who own the same product lines with the hope that those lines too will remote-controlled vehicle can exchange notes and become wildly popular and create a positive cash flow comments about their experiences and profits Sometimes, a toy company gets lucky and Despite all of Mattels success, they continuously are really hits the jackpot. That\'s what happened with Mat looking for new market opportunities. Recently, they tel in the early years of its existence introduced a line of products called Monster High. This Mattel first started as a business making picture product line brings to life fashilonable teenage descen- frames in 1945. With the war over and a desire to make dants of famous monsters like Frankenstein and Drac the most of resources, one of Matte\'s owners had the ula. As the line progresses through the life cycle of bright idea of building doll houses with the scrap wood introduction, growth, maturity, and possibly decline, that was left over from making the picture frames. The marketing managers at Mattel will continuously adjust dol houses were an immediate success and quickly took their marketing strategy for Monster High in an effort to over for the frames as the company\'s main focus, Fast-for extend its product life cycle. At the same time, you can ward to 1959. Mattel introduces Barbie, an iconic brand bet that product researchers will be hard at work devel that is sold in 150 countries. The Barble line of products oping the next potentially big toy sensation for Mattel. has since greatly expanded to include numerous friends such as Ken, Summer, Midge, Nikkl and Teresa, to namea Questions for Consideration few. In addition, she has had several occupations over the decades ranging from dentist to race car driver, and she 1. How would you classify Barbie as a product-as and her friends have a multitude of accessories including a convenience, shopping, or specialty product? a house, a cool car, and enough diferent clothing options Discuss why you chose that particular classification that they never have to wear the same thing twice given the amount of shopping effort required by Despite Barbie\'s wild success (she currently has over 10.1 million Facebook friends). Mattel realized that she appealed to just half of the population (girls) and consumers to purchase a Barbie and the strategy utblized by Mattel to market Barble. among that group, mainly to a narrow age band. To 2. American Girl, another line of popular dolls, also is broaden out its overall appeal, Mattel developed the manufactured and distributed by Mattel Contrast Hot Wheels, Tyco, and Fisher Price lines of products the American Girl marketing strategy with that used appealing to boys, preschoolers, and infants, In addi- by Mattel to market Barble. Where do the strategies differ and where are they similar? tion, the company has a strong relationship with the Walt Disney Company and produces toys for many of 3, Discuss the various marketing strategies Mattel executives may use for Monster High as it progresses through the stages of the product life cycle. What aspects of the marketing mix should be emphasized each stage and discuss why you believe those Disney\'s movies, including Cars and Toy Story of this activity is emblematic of what it takes to develop a value-enhancing product that continues to provide positive returns to both Mattel and its custom- The essential benefit provided by Mattel\'s various includes fantasy play and creativity. The product form, which is the d name Barbie, and all of the many acces- overall experience of playing aspects are most important. Sources www.barblie.com/activite/friendv, accessed Deceniber 10, 2013 www.facebook.com/barble, accessed December 10 2013, tan Shaffes, nno- vation Should Keep Maiel Ahesd of the Pack Not Content with Barble Sale the core product includes Alone The Monteal Gne August 13, 2013 Business sectio p 82 32PARTHREE Develop the Value lfeing-The Producs Experience
Answer 1:
The Iconic Barbie girl doll is a niche marketing product (a specialty product) of Mattel toys. The Barbie doll is considered a specialty product because it’s using the following strategies:
1. Global marketing: The product is marketed as an icon across the world with minor cultural changes according to regions like the Middle East and India. The basic Barbie doll maintains the same look and gives company economies of scale in manufacturing and marketing the product. Barbie has been in the markets since 1959.
2. Cultural Changes: The Barbie inculcates the cultural changes of different regions like Africa, Latin America, middle east, Asia etc; but these are minor changes.
3. Status Symbol: It is branded in the niche and upper market segment hence its taken as a status among little girl to pick up Barbie dolls, accessories, furniture etc.
4.Pricing strategy: The product is priced to target the upmarket or rich customers adding value to its status and niche segment.
It has maintained the same image and euphoria over the years and still has a commanding positioning in the girls must have toys.
Answer 2:
The American Doll was created by a school teacher in the 1980’s and later bought over by Mattel toys in 1998, it has a market share of USD 300 million. The sale remained constant because they were niche market but not with the historical twist as done by the creator Pleasant Rowland.
Similarities:
Differences:
Answer 3:
The monster high doll introduced in 2010 was differentiated as follow:
Results were it ate into the market of Barbie and its sales flourished since its launch.
Homework Sourse
