Term paper - Essay Example

Barbie and Mattel Corporation Case Study BARBIE AND MATTEL CORPORATION CASE STUDY Why has Barbie been so successful? Barbie, a doll was born in the year 1959, and Mattel Corporation, her maker, has put Barbie through innovations, which has ensured that she becomes a favorite and successful in the market. Barbie gained an almost instant success after her first introduction in the market. This was so since she had adult looks, which differentiated her from other baby dolls already in the market.

The baby dolls, which were already in the market, needed cradling and caring, contrary to Barbie who came into existence as an adult. Barbie was presented by Mattel Corporation in the market as a doll who would provide girls with the company and make their wishes come true. Barbie’s success is also linked to Mattel Corporation’s genius in improvisation and innovation. The corporation on a yearly basis has endeavored on making 150 and 120 different dolls and outfits respectively. Being trendy and adapting to current fashion has made Barbie successful in the market.

Mattel has put Barbie in the market’s forefront by making her wear current hairstyles and outfits in accordance with the market. Barbie has been put like a movie star who takes up different roles in relation to the character, which is being portrayed. Barbie has come in the market through adapting numerous roles in life. Barbie’s has come with accessories, which emphasize the role she is playing. Barbie’s success has also been promoted through Mattel Corporation’s idea of investing technology in her.

Inside Barbie’s body, technology comes in terms of a play set, motion-sensor bracelet, computer animated video, a shoe clip and dancing princesses (Burns, 2011). 2. Barbie is hardly a high-tech product, but has Mattel been innovative in how it has developed the product and extended its life cycle? Since 1959, innovation has been embraced by Mattel Corporation, which has resulted in extension of Barbie’s life cycle. Barbie came in the market as an adult; this uniqueness was appreciated by customers who were used to buy baby dolls, which required cradling and caring.

The boredom of having to buy the same baby dolls for years was broken by Barbie’s introduction in the doll market. Furthermore, Mattel Corporation went to the extent of bring on board innovations, which would ensure the change of Barbie’s image over the coming years and thus extension of Barbie’s life cycle. Adopting and embracing the current trend in fashion has resulted in Barbie’s longer life. It is worth mentioning that the roles, which Barbie has adapted, has made her attractive and wanted over the years.

The roles of news reporter, rock star, scuba diver, fashion model and surgeon just to mention a few have been instrumental in the extension of Barbie’s life cycle. It is crucial to state that Mattel Corporation view Barbie as a way of life, and a fashion statement, Barbie is more than a doll or a toy (Burns, 2011). 3. What are the lessons for product innovation? Mattel Corporation, the maker of Barbie, teaches the lesson of product innovation in terms of showing the importance of adapting current fashion, trend and style, which ultimately results in the extension of a products’ life cycle for a longer time in the market.

The lesson has further been demonstrated, by how Mattel has managed to put Barbie through numerous innovations by making her take up the current fashion, through wearing current hairstyle and outfits. The products, which are bound to thrive in the market, should be flexible in terms of adapting the changes coming from the market environment. New products being introduced in the market should be unique and easy to innovate. Technology is also an important part of lesson for product innovation, which should be adapted to make products advanced and marketable (Burns, 2011).

Reference Burns P. (2011). Entrepreneurship and Small Business. New York: Palgrave Macmillan.