Rejuvenating your brand marketing at the right time can help brands survive in this digital aura – and that is what Mattel did!
Mattel is a well-known brand for making toys, especially glamorous Barbie dolls. They came up with an outperformed brand marketing strategy that helped them go through the crisis and face challenges in the competitive landscape.
The struggle was hard, from being the most popular Barbie doll merchandiser to the falling spike of revenue stream, but still putting effort to regain their position in the market. They did it so well that their brand inspires many digital marketers. But what happened to them is no more mysterious. Let’s get insights about it to take inspiration!
Factors That Affected Mattel’s Company
Mattel was established in 1945 and launched its official Barbie doll in 1959. It’s been decades since Mattel delivered fun-loving toys that attract kids. However, the fastest-growing technology slows down the demand for physical toys and switches them to digitally interactive screens.
This led Mattel to the crisis. Here are the key factors that bear severely to the physical-made toy companies.
- Competition from digital games: Digital games are becoming increasingly popular and taking away market share from traditional toys. Mattel has slowly adapted to this trend and has lost market share to companies like Activision Blizzard and Electronic Arts.
- Ineffective marketing: Mattel’s marketing campaigns have been criticized for being outdated and inefficient. The company has not connected with younger consumers, who increasingly turn to digital platforms for entertainment.
These factors combined to create a crisis for Mattel in 2020. The company’s stock price plummeted, forcing it to lay off employees. Mattel is still facing challenges but is taking steps to improve its performance. The company has launched a new marketing campaign focused on digital platforms, and it is also working to develop new products that appeal to younger consumers.
Here are some things that Mattel is doing to overcome its challenges:
Investing in innovation
Mattel is investing in new technologies and products designed to appeal to younger consumers. For example, the company has launched a new line of Barbie dolls designed to be more diverse and inclusive.
Revamping its marketing strategy
Mattel is revamping its marketing strategy to focus on digital platforms. The company is also working to create more engaging and interactive marketing campaigns.
Expanding its distribution channels
Mattel is expanding its distribution channels to reach new customers. The company also works to partner with other retailers, such as Amazon and Target.
Improving its supply chain
Mattel is improving its supply chain to reduce the risk of disruptions. The company is also working to increase its inventory levels to meet demand.
Mattel is facing a number of challenges, but it is taking steps to improve its performance. The company is investing in innovation, revamping its marketing strategy, expanding its distribution channels, and improving its supply chain. These efforts are expected to help Mattel overcome its challenges and return to profitability.
What They Recently Do To Remain Alive
The recent live-action Barbie movie has been making waves in the marketing world thanks to its clever and creative approach to promoting the movie.
One of the most notable aspects of the marketing campaign is its use of pink. Pink has long been associated with Barbie, but the campaign has taken this association to the next level. Pink billboards, pink carpets, pink merchandise, and even a pink Barbie Dreamhouse have all been used to promote the movie. This use of pink has helped to create a unique and memorable visual identity for the movie.
Another key aspect of the marketing campaign is its focus on diversity and inclusivity. The movie’s cast is diverse, and the campaign has made a point of highlighting this diversity. This includes a series of posters that feature different Barbies with different body types, skin tones, and hair colors. The campaign has also been careful to avoid gender stereotypes, and it has shown Barbie in a variety of roles, from astronaut to scientist to athlete.
The Barbie movie’s marketing campaign has succeeded because it has tapped into the zeitgeist. The campaign is playful, fun, and inclusive, reflecting the values of a new generation of consumers. The campaign has also generated a lot of buzz for the movie, and it has helped to create a sense of anticipation for its release.
Here are some of the specific marketing strategies that used to promote the Barbie movie:
The movie’s marketing team has been very active on social media, using platforms like Instagram, Twitter, and TikTok to connect with potential viewers. The team has shared behind-the-scenes photos and videos, released teaser trailers, and engaged with fans creatively.
The movie has also benefited from celebrity endorsements. Margot Robbie, who plays Barbie in the movie, has been a vocal supporter of the project and has helped generate excitement for the movie among her fans. Other celebrities who have endorsed the movie include Ryan Gosling, Simu Liu, and America Ferrera.
The movie has also partnered with a number of brands to promote the movie. These partnerships have included collaborations with fashion brands like Balmain and Moschino and toy brands like Mattel and Hasbro. These partnerships have helped to reach a wider audience and to generate more buzz for the movie.
The movie’s marketing team has also used viral marketing strategies to promote the movie. These strategies have included releasing a series of funny and creative memes, as well as hosting a number of events and experiences that have generated a lot of attention.
The movie’s marketing team also worked to rebrand the Barbie brand. They wanted to move away from the traditional image of Barbie as a perfect and unattainable beauty and portray her as a more diverse, relatable, and empowered character.
Focus on inclusivity
The movie’s marketing team also focused on inclusivity. They wanted to show that Barbie is for everyone, regardless of race, gender, or body type. They released a series of posters that featured different Barbies with different body types, skin tones, and hair colors.
The movie’s marketing team also embraced humor. The Barbie movie team knew that people would be more likely to connect with the movie if they found it funny, so they released a series of funny and creative trailers and memes.
Excellent Gross Revenue Stream In Box Office
The Barbie movie’s marketing campaign has succeeded because it has been able to tap into the zeitgeist and connect with potential viewers meaningfully. The campaign has been playful, fun, and inclusive, and it has helped to create a sense of anticipation for the movie’s release.
- The movie has grossed over $1.38 billion worldwide as of September 12, 2023.
- This makes it the highest-grossing movie of 2023, the highest-grossing live-action movie based on a toy, and the highest-grossing movie directed by a woman.
- The movie’s production budget was estimated to be between $128 million and $145 million.
- This means the movie has already made a significant profit and is still showing in theaters, so it will likely earn even more money.
The movie’s success has been attributed to several factors, including its strong marketing campaign, diverse cast, and positive reviews. The viewers praised the movie for its humor, its heart, and its message of empowerment. It has also helped to change the way people think about Barbie.
The Barbie movie’s success is a major win for the movie industry. It shows a demand for female-led movies that are both entertaining and thought-provoking. It also depicts a market for movies that challenge gender stereotypes. The Barbie movie is a groundbreaking movie that will have a lasting impact on popular culture.
Box Office Earnings By Region
|Middle East & Africa
The movie’s success has been particularly strong in China, which grossed over $200 million. This is significant because China is a major market for the movie industry, and it is often difficult for foreign movies to succeed there.
The Barbie movie’s success is a major victory for Warner Bros. Pictures. The movie was a major gamble for the studio, as it was a big-budget movie based on a toy property. However, the movie’s success has justified the studio’s investment, leading to more movies based on Barbie and other toy properties.
Are You Ready To Restructure Your Brand Marketing?
If you are struggling with your brand marketing strategy, it’s time to bring change that rejuvenates your brand. To make this happen, let’s start with us. At ICS, we help potential businesses like yours to elevate with success. Whether you are a startup or SMB, we create customized brand marketing strategies that suit only your business.
Our unique yet effective brand marketing strategies help you expand your brand voice and increase brand identity, directly impacting your brand marketing to generate high revenue streams. Like the Barbie Movie success, you will surely see the sparkle of our magically created brand marketing strategy. Let’s combine our strengths and work in tandem.