Market Segmentation Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations. Why is market segmentation important for marketers? Market segmentation makes it easier for marketers to personalize their marketing campaigns.
Posted in Products, Total Reads: Let us start the Barbie Marketing Mix: Barbie doll is the most popular toy brand for girls.
The products offered under Barbie brand are dolls, accessories and clothing where dolls are the primary focus.
There is diverse product range in its marketing mix offered to customers worldwide. The different types of Barbie dolls which are available are of four types- petite, tall, curvy and original.
Every doll measures There are collections like Barbie Fashionista, Signature etc. Some Barbie dolls resemble the real-life movie characters like Wonder-Woman. Barbie also come according to careers for example- pilots, teachers, skateboarders, policewomen etc.
Ken is the male doll which is available as a companion to the Barbie. Accessories include doll houses, furniture and vehicles which can be used while playing with the Barbie dolls.
Apart from this Barbie clothing can also be bought which comes in a lot of variety.
Other products include bags and clothing for kids. This is done based on the class of people. The prices are such that middle-class segment can find them reasonable whereas some Barbie dolls like the ones in the Signature collection are priced at a higher value.
So, there are premium prices which can be afforded by the upper-middle class and upper-class segments. Since the pricing is done on the basis of differentiation of classes the pricing strategy in its marketing mix is called Price-Discrimination strategy.
The prices are changed to make them competitive as there are other toy companies with similar products. Also, sometimes there are discount schemes provided to the buyers who want to buy through ecommerce platforms. The distribution cost of Barbie dolls has been reduced substantially by the company by selling it online and hence customers receive that benefit in the form of low prices.
The retail outlets are supplied through distributors. These outlets are usually in malls or big shopping centers where the footfall is high. Some outlets also have the doll house setups so that the kids can play there with the Barbie dolls and use the other accessories as well.
Some small retail outlets also stock these dolls provided that they are well known in their respective areas. To reduce the distribution costs Mattel now sells the Barbie dolls through their own website as well which helps them have greater profit margins.
In addition to this the dolls can be bought through ecommerce sites like Amazon, Alibaba, Flipkart etc. Mattel has been aggressive in marketing to maintain the brand image and to reach out to a wider audience.
The Barbie promotions are done through TV advertisements, newspapers and through their website.Barbie was one of the first toys to have a marketing strategy based extensively on television advertising, which has been copied widely by other toys. It is estimated that over a billion Barbie dolls have been sold worldwide in over countries, with Mattel claiming that three Barbie dolls are sold every second.
Mattel revamps its Barbie marketing strategy to empower girls through play every girl grew up with her own affecting and polarizing relationship to Barbie (or dolls like her). Like most kids, the relationship developed between a young girl and her toy proxy can come to define her early social interactions, imagination, and personality.
Marketing Mix of Barbie analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion). Barbie marketing mix explains the business & marketing strategies of the brand.
Barbie Marketing Mix (4Ps) Strategy | MBA torosgazete.com The scale of Barbie’s marketing challenge to stay relevant amid the popularity of connected toys has been laid bare as recent brand changes failed to stop its sixth consecutive quarterly sales drop. Mattel, Inc is a publicly traded company of American origins.
It is associated with the entertainment industry.
Here is the Marketing mix of Mattel Inc shows how It was founded in the year by its co-founders Ruth Handler, Elliot Handler and Harold torosgazete.com was ranked at . Barbie doll poem analysis essay. marketing mix of pepsi essays on leadership yale som mba essay olympics youth vs old age essay euromail and amerimail essay short essay on diwali.