Barbie has faced major declines. Barbie has been heavily criticized over the last few decades for projecting an unrealistic image for girls. Launched in 1959, Barbie was the blonde all-American dream, but a complete fiction that many believe to be doing more damage to the self-confidence of girls. The modern Moms didn’t want their daughters to play with Barbie anymore. All of a sudden, Barbie sales declined 20% from 2012 to 2014. The brand needed to make a dramatic change.
Barbie took a dramatic step forward–even if just to catch up to where they should be–by launching new possibilities with realistic options for body type (curvy, tall and petite) and various ethnicities (seven skin tones) They needed to create a Barbie that Moms would think acceptable for their girls to play with. These moms wanted a good symbol for their daughters, not something unrealistic and unattainable. The new Barbie is a good first step.
Next, the supporting Advertising for Barbie has gone viral with over 20 Million views. The ad starts by showing a young girls in situation as a College Professor, a Museum curator, a Veterinarian or a Soccer coach. The supporting copy: “When a girl plays with Barbie, she imagines everything she can become.” with a bold tag-line: YOU CAN BE ANYTHING. This is a great ad with a new message that should fit with the modern moms.
Barbie sales are up 8% this past holiday period, a good start to the turnaround.
Five lessons for brand turnarounds
- Ensure the right people in place: Before even creating the plan, you need to get the right leadership talent in place. Talent, motivation, alignment. Mattel brought in new CEO last spring who reshuffled a lot of the executives in an effort to turn the business around.
- Look to close leaks on the brand: Use brand funnel to assess, using leaky bucket tool to close leaks. Find out where the specific problems are coming from. Barbie has done a nice job in listening to their consumers, the moms who were rejecting the brand due to stereotypes.
- Cut the fat, re-invest: go through every investment decision, invest only in programs that give you an early break through win. Even faced with Sales declines, Mattel made a smart move to cut costs by 10% to drive profits back into the business. It is hard to do a turnaround while the profit keeps falling.
- 3-stage plan: In stage 1, find early/obvious win, halts slide, helps motivation. In stage 2, invest behind new positioning/new plan, focused decisions, take risks. In stage 3, make adjustments to plan, build innovation behind new ideas that fit plan. Barbie started talking about the plan a year ago, listening to consumers and preparing for the big launch. So far, they’ve stemmed the decline, but now they need to build a plan for the next 3-5 years that grows this business.
- Motivating a demotivated team: Losing can be contagious to a culture/team. Recognize wins to fuel performance driven culture. People on the team needed new leadership and needed room to take chances with this iconic brand.
Our marketing training programs to help brand leaders reach their full potential
You can click on the arrow above to view a quick video outlining our marketing training programs
Our playbooks will show you new ways for how to think, define, plan, execute and analyze your brand
- You will find new strategic thinking models and examples for each of the four strategic thinking methods, looking at core strength, competitive, consumer, and situational strategies.
- To define the brand, I provide a tool for writing a brand positioning statement as well as a consumer profile and a consumer benefits ladder. I have created lists of potential functional and emotional benefits to kickstart your thinking on brand positioning. We show a step-by-step process to come up with your brand idea and bring it all together with a tool for writing the ideal brand concept.
- For brand plans, I provide formats for a long-range brand strategy roadmap and the annual brand plan with definitions for each planning element. From there, I show how to build a brand execution plan that includes the marketing communications plan, innovation process, and sales plan.
- To grow your brand, I show how to make smart decisions on marketing execution with chapters on how to write a creative brief, how to make decisions on creative advertising and how to lead the media choices.
- When it comes time for analyzing the performance of your brand, I provide all the analytical tools you need to lead a deep-dive business review, looking at the marketplace, consumer, channels, competitors and the brand.
You will learn everything you need to know so you can run your brand and be successful in your marketing career.
You can find Beloved Brands and B2B Brands on Amazon, Rakuten Kobo or Apple Books
Click on any of the icons above to go directly to the page where you can buy our books.