The Success Of The Barbie Doll

1873 Words Apr 1st, 2015 8 Pages
In 2007, global toy sales were $71.96 billion USD with approximately 900 companies competing for market share. The industry was dominated by a few major players, such as Mattel, Hasbro, LEGO and RC2. Mattel and Hasbro’s sales alone accounted for over 12% of global sales. By 2007, most toy production occurred in China. So much in fact, that nearly 85% of all toys sold in North America were imported from China. Mattel was the industry leader up until very recently and witnessed many successes in terms of its products and globalization.
Much of Mattel 's success comes from its strong branding. From the 1959 introduction of the Barbie Doll® to the introduction of Hot Wheels® in 1968, Mattel was destined to be an industry leader. Barbie® was a huge hit initially, with her and her merchandise selling more than $100 million only six years after her introduction. Hot Wheels was another wildly popular brand, the small scale model of real cars sold quickly, throwing Mattel into the forefront of the die cast car industry. Even with the maturity of its products in terms of their life cycles, Mattel 's introduction of a various cars and new Barbie® outfits and dolls has allowed it to maintain both its major brands relevance in western markets. The introduction of new toys, approximately 5,000 per year, the purchase of other toy companies in the 90’s and licensing agreements allow Mattel’s revenues to steadily increase. Its strong brand identity and popular characters, combine with…

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