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Brand Management - Barbie Brand Analysis

S
Sabrina Alves

The document discusses a brand audit of Barbie. It provides an overview of the toy market, with Mattel being the 6th most valuable toy brand worldwide generating billions in revenue from Barbie sales. It then covers Barbie's brand identity model focusing on themes of dreams, diversity, and empowerment. Next, it examines Barbie's brand architecture and insights from consumer interviews. Key challenges are parents' versus kids' perspectives. Finally, marketing strategies are proposed to address challenges through co-branding, customization, and ensuring quality across brand extensions.

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BARBIE BRAND AUDIT Ariane Verner Carlos Russo Marina Manzanares Sabrina Alves
AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
TOY MARKET OVERVIEW 90 billion dollars market with 5 top main players Source:https://www.statista.com/statistics/241241/revenue-of-major-toy-companies-worldwide/ Worldwide revenue of major toy companies in 2016 (in million U.S. dollars) Direct competitor: dolls Indirect competitor: building blocks Doll's more related to fantasy; Movies partnership.
The commercial success of Barbie has allowed Mattel to become the sixth most valuable toy brand worldwide in 2017 MATTEL OVERVIEW Barbie is a key product for Mattel Source: https://www.bloomberg.com/features/2015-disney-princess-hasbro/ https://www.statista.com/statistics/370361/gross-sales-of-mattel-s-barbie-brand/ Mattel's Barbie brand worldwide (in million U.S. dollars)
AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
BRAND IDENTITY MODEL Barbie: going beyond beauty Children can be anything they want Safe, Durable, Quality Connection (Relationship) Feelings (Emotional) Symbol (Images and Traditions) Style, Elegance, Self-confidence Fashion, Professions, Sports, Heroes, Maternity, Femininity,Diversity, Hope,Respect Happiness ImaginationinFuture,Possibilities, Joy,Love,Care Dreams Traditional dolls and accessories Puzzles, Learning Toys, Clothing, Diversified Dolls, Trend Accessories BrandCommunities,Co-Creation, Customization Reliability Trustworthiness Long-Lasting Body (Functional) Heritage, Tradition
AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
BARBIE ARCHITECTURE Main brand insights in Barbie's architecture Insights: Branded house: leverage the brand Endorsed brands: lack of quality and standard control
AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
CONSUMER Understanding Barbie through consumer's perspective BRAND EQUITY POOL BRAND LOVER IN A BRAND COMMUNITY 92 interviews Magda Amaral Main associations in Brazil: Feminism, fashion, futility, skinny, blonde, Ken... Consumers expressed desire for more diversity (40%) and more realistic body features (20%) Main competitors: Love at first sight Barbies of the World, Barbie India, Barbie Geisha, Irish Barbie. Cinema, Fashion. 100 dolls including Barbies, Kens, sisters and friends
AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & Marketing Strategy
MAIN CHALLENGES Parents x kids Parent's perspective (buyers): How to make them see Barbie as an indispensable toy for their kids Kid's perspective (users): How to make them desire Barbie again
HOW CAN BARBIE OVERCOME THESE CHALLENGES?
MARKETING STRATEGY How to enhance the brand value following the Brand Identity gggg Safe, durable and quality: spread quality all over the brand extension - Reformulate Corporate Strategy: quality control over licensee strategy Long-lasting relationship: - Brand communities - Co-creation - Mass customization Heritage and Tradition: keep fashion and improve diversity values - Fashion: product line focusing on fashion market, for instance, being launched during NYC Fashion Week Word of mouth / PR - Diversity without losing the brand heritage Dreams: kids can be whatever they want - Customization - Partnership with strong brands (co-branding) - Diversified dolls
MARKETING STRATEGY How to transmit diversity and educational tool values CUSTOMIZED BARBIES TAKING ADVANTAGE OF BRAND COMMUNITIES Consumer would customize and order their own Barbie on Barbie website: body, face, hair, height and etnia following mass customization principles; All created Barbies would be displayed in the website and users would be able to vote on their favorite; The most sold dolls or the most voted ones would become part of Barbie's product line.
BARBIE + Nintendo: win-win strategy - Feminine and fashion power possibility to recruit girls - Digitalization of Barbie BARBIE + LEGO: win-win strategy - Feminine and fashion power of Barbie possibility to recruit girls - Educational background and strength of Lego MARKETING STRATEGY How to transmit diversity and educational tool values CO-BRANDING WITH STRONG BRANDS
MARKETING STRATEGY Keeping the high standard of quality REDEFINING THE CORPORATE STRUCTURE: HOW TO MAKE SURE ALL BRAND EXTENSIONS FOLLOW BARBIES QUALITY AND VALUE LICENSING DEPARTMENT BARBIE CONSUMER DEVELOPMENT OPERATIONAL MARKETING Licensing department: focus on approving all brand extensions in order to keep and maintain Barbie's standards; Consumer development: development of strategy and products focusing on consumer needs; Operational marketing: marketing strategy.
Thank you!
EXTRA APPENDIX
TOY MARKET OVERVIEW 90 billion dollars market with 5 top main players Source:https://www.statista.com/statistics/241241/revenue-of-major-toy-companies-worldwide/ Worldwide revenue of major toy companies in 2016 (in million U.S. dollars) 90 billion dollars total revenue of the global toy market; Main players: Mattel, Namco Bandai, Lego, Hasbro and Jakks Pacific; Mattel and Lego: each almost 6% of global Market Share. Main insights Direct competitor: dolls Indirect competitor: building blocks
The commercial success of Barbie has allowed Mattel to become the sixth most valuable toy brand worldwide in 2017 MATTEL OVERVIEW Barbie is a key product for Mattel Source: https://www.bloomberg.com/features/2015-disney-princess-hasbro/ https://www.statista.com/statistics/370361/gross-sales-of-mattel-s-barbie-brand/ Mattel's Barbie brand worldwide (in million U.S. dollars)
HASBRO: MAIN DIRECT COMPETITOR Similar dolls offer Born in 1923, USA; Produce and commercialize: Disney and Star Wars; HasBro Studios (since 2009): give life to star products; Main direct competitors: Disney Descendants Frozen Disney Princess Esquetria (My Little Pony)_ Dolls and kids accessories Dolls, board games, furniture, doll scenarios, beyond others Dolls, furniture, doll scenarios, beyond others Dolls, TV series, doll scenarios, accessories, beyond others Main insights: Doll's more related to fantasy world; Movies partnership.
Brand Management - Barbie Brand Analysis

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Brand Management - Barbie Brand Analysis

  • 1. BARBIE BRAND AUDIT Ariane Verner Carlos Russo Marina Manzanares Sabrina Alves
  • 2. AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
  • 3. TOY MARKET OVERVIEW 90 billion dollars market with 5 top main players Source:https://www.statista.com/statistics/241241/revenue-of-major-toy-companies-worldwide/ Worldwide revenue of major toy companies in 2016 (in million U.S. dollars) Direct competitor: dolls Indirect competitor: building blocks Doll's more related to fantasy; Movies partnership.
  • 4. The commercial success of Barbie has allowed Mattel to become the sixth most valuable toy brand worldwide in 2017 MATTEL OVERVIEW Barbie is a key product for Mattel Source: https://www.bloomberg.com/features/2015-disney-princess-hasbro/ https://www.statista.com/statistics/370361/gross-sales-of-mattel-s-barbie-brand/ Mattel's Barbie brand worldwide (in million U.S. dollars)
  • 5. AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
  • 6. BRAND IDENTITY MODEL Barbie: going beyond beauty Children can be anything they want Safe, Durable, Quality Connection (Relationship) Feelings (Emotional) Symbol (Images and Traditions) Style, Elegance, Self-confidence Fashion, Professions, Sports, Heroes, Maternity, Femininity,Diversity, Hope,Respect Happiness ImaginationinFuture,Possibilities, Joy,Love,Care Dreams Traditional dolls and accessories Puzzles, Learning Toys, Clothing, Diversified Dolls, Trend Accessories BrandCommunities,Co-Creation, Customization Reliability Trustworthiness Long-Lasting Body (Functional) Heritage, Tradition
  • 7. AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
  • 8. BARBIE ARCHITECTURE Main brand insights in Barbie's architecture Insights: Branded house: leverage the brand Endorsed brands: lack of quality and standard control
  • 9. AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & MKT strategy
  • 10. CONSUMER Understanding Barbie through consumer's perspective BRAND EQUITY POOL BRAND LOVER IN A BRAND COMMUNITY 92 interviews Magda Amaral Main associations in Brazil: Feminism, fashion, futility, skinny, blonde, Ken... Consumers expressed desire for more diversity (40%) and more realistic body features (20%) Main competitors: Love at first sight Barbies of the World, Barbie India, Barbie Geisha, Irish Barbie. Cinema, Fashion. 100 dolls including Barbies, Kens, sisters and friends
  • 11. AGENDA What we will discuss today? Overview Brand Identity Model Brand Architecture Consumer Main Challenges & Marketing Strategy
  • 12. MAIN CHALLENGES Parents x kids Parent's perspective (buyers): How to make them see Barbie as an indispensable toy for their kids Kid's perspective (users): How to make them desire Barbie again
  • 13. HOW CAN BARBIE OVERCOME THESE CHALLENGES?
  • 14. MARKETING STRATEGY How to enhance the brand value following the Brand Identity gggg Safe, durable and quality: spread quality all over the brand extension - Reformulate Corporate Strategy: quality control over licensee strategy Long-lasting relationship: - Brand communities - Co-creation - Mass customization Heritage and Tradition: keep fashion and improve diversity values - Fashion: product line focusing on fashion market, for instance, being launched during NYC Fashion Week Word of mouth / PR - Diversity without losing the brand heritage Dreams: kids can be whatever they want - Customization - Partnership with strong brands (co-branding) - Diversified dolls
  • 15. MARKETING STRATEGY How to transmit diversity and educational tool values CUSTOMIZED BARBIES TAKING ADVANTAGE OF BRAND COMMUNITIES Consumer would customize and order their own Barbie on Barbie website: body, face, hair, height and etnia following mass customization principles; All created Barbies would be displayed in the website and users would be able to vote on their favorite; The most sold dolls or the most voted ones would become part of Barbie's product line.
  • 16. BARBIE + Nintendo: win-win strategy - Feminine and fashion power possibility to recruit girls - Digitalization of Barbie BARBIE + LEGO: win-win strategy - Feminine and fashion power of Barbie possibility to recruit girls - Educational background and strength of Lego MARKETING STRATEGY How to transmit diversity and educational tool values CO-BRANDING WITH STRONG BRANDS
  • 17. MARKETING STRATEGY Keeping the high standard of quality REDEFINING THE CORPORATE STRUCTURE: HOW TO MAKE SURE ALL BRAND EXTENSIONS FOLLOW BARBIES QUALITY AND VALUE LICENSING DEPARTMENT BARBIE CONSUMER DEVELOPMENT OPERATIONAL MARKETING Licensing department: focus on approving all brand extensions in order to keep and maintain Barbie's standards; Consumer development: development of strategy and products focusing on consumer needs; Operational marketing: marketing strategy.
  • 20. TOY MARKET OVERVIEW 90 billion dollars market with 5 top main players Source:https://www.statista.com/statistics/241241/revenue-of-major-toy-companies-worldwide/ Worldwide revenue of major toy companies in 2016 (in million U.S. dollars) 90 billion dollars total revenue of the global toy market; Main players: Mattel, Namco Bandai, Lego, Hasbro and Jakks Pacific; Mattel and Lego: each almost 6% of global Market Share. Main insights Direct competitor: dolls Indirect competitor: building blocks
  • 21. The commercial success of Barbie has allowed Mattel to become the sixth most valuable toy brand worldwide in 2017 MATTEL OVERVIEW Barbie is a key product for Mattel Source: https://www.bloomberg.com/features/2015-disney-princess-hasbro/ https://www.statista.com/statistics/370361/gross-sales-of-mattel-s-barbie-brand/ Mattel's Barbie brand worldwide (in million U.S. dollars)
  • 22. HASBRO: MAIN DIRECT COMPETITOR Similar dolls offer Born in 1923, USA; Produce and commercialize: Disney and Star Wars; HasBro Studios (since 2009): give life to star products; Main direct competitors: Disney Descendants Frozen Disney Princess Esquetria (My Little Pony)_ Dolls and kids accessories Dolls, board games, furniture, doll scenarios, beyond others Dolls, furniture, doll scenarios, beyond others Dolls, TV series, doll scenarios, accessories, beyond others Main insights: Doll's more related to fantasy world; Movies partnership.