I read a very interesting article this weekend in Fortune
Magazine about the doll we all know too well-Brand Barbie. The Barbie brand is
pushing 50, and of late has not been doing well. Sales peaked in 2002 and have
plummeted since. The same goes with market share, which used to be upwards of
80% and has been declining since.
What went wrong?
Nothing rocket science for sure.
First, the company failed to pay attention to changing consumer tastes
and secondly to increased competition. Dolls such as Bratz seemed to take over
Barbie’s turf with dolls, which were more fashionable and ethnically diverse.
American Girl Dolls captured the slightly older girls, even offering a line of
dolls called “Just like me”.
The lesson of this story is to ALWAYS keep your pulse on
your target audience (the consumer in this case) and know who your competition
is. And what they are offering.
Here is the link to read the article: http://tinyurl.com/mcletn
Randi Bussin|Certified Personal Brand Strategist and Career Reinvention Strategist www.aspireforsuccess.com