The Marketing Mix is a gig aspect of Matters' success in selling Barbie (or in Barbie's longevity). Product: The first step in Marketing Strategy is to select your target market. Mantel's target market for Barbie is mostly young girls ages 6-13 and their parents. They are attracting the parents because the parents are the ones that purchase mostly spend money on the toys for their children. So they must ensure that Barbie Is a safe toy and that when kids ask for Barbie their parents will purchase It for them. After deciding that the doll Is marketed towards young girls and parents Matter must then think what does my target market want?
This Includes the design of the doll, the name Barbie, her packaging and her warranty. Currently Barbie is designed as a young woman with grown up features. Size of doll? Material? The purpose of the design is the idea that Barbie poses as a role model for young girls to look up to. There are a lot of deferent Barbie's to choose from with different ethnicities and careers. Barbie is currently packaged in a box with a transparent s in palpitations and paper containers with a pink Barbie logo. Good that you described packaging - few students did It also Includes a toy warranty that comes with all Matter products.
You should also be clear that there are a wide range of products - both doll accessories and products for little girls Pricing: The next step In the marketing mix Is how to price your product. Pricing Is based on cleaving sales goals, maximize profit or to make room for new products. This also true with Barbie, Barbie's today can go as cheap as eighth dollars and up. Where did you get this number - on Matter web site I think $6. 99 and at Amazon as low as $3 There are a lot of new releases of Barbie. The newer versions cost more for example on the Matter website the new holiday 2012 Barbie costs $39. But interestingly is sold for less at Walter http://shop. Matter. Com/product/landed. JSP? Product=13288505 whereas the older not so recent Barbie which is Barbie doll roses cost only $6. 99 http://shop. Matter. Com/product/index. JSP? Product=13002205 . To make room for newer products Matter and distributors will sell their older Barbie's cheaper but brand new Barbie's cost more. Again should note wide range of prices for ancillary Bearable products (ex the Bearable car, both for the doll and for little girls) Promotion: After deciding how much the product Is the next step Is to promote It.
Bearable Is sells toys or pharmacy and not see Barbie. Some places where Barbie's are sold and advertised are Smart, Walter, Target, Sears, Spinney, C.V., and Toys r us being one of the biggest Barbie sellers. Toys r us has its own private section for Barbie in Times square Manhattan where there is a huge Barbie house that you can walk into, it is a big tourist attraction. There are also the countless Barbie television commercials over the years on TV and the Barbie website where you can play Barbie games and activities. Are ads for Barbie aimed at children or parents?
Which medium is used cost (TV)? Distribution: The Final step of the Marketing mix is make decisions on where to distribute your product. Barbie is very easy to purchase being that it is sold at any store that sells toys. Along with Toys r us Smart, Walter, Target, Sears, Spinney, C.V. and others there is also the option to buy Barbie online straight from the Matter website. This section is repetitive to paragraph above - remove info on stores from Promotion section and place here - then elaborate in promotion section on the types of advertising campaigns for Barbie Marketing environment:
When all these elements work together it makes marketing more successful. However there are also some aspects of the market environment that will control how the product will sell. Two factors that might affect the sales of Barbie are economic forces and calculators forces. Economic forces are the effects of economic conditions on the customers' ability and willingness to buy your product. This might affect Barbie sales because currently the economy is still at a low point. If parents need to feed their children and pay their bills they might not afford to have that extra cash to buy a Barbie doll.