Function: __construct, File: /var/www/embapro.com/public_html/index.php This will help the manager to take the decision and drawing conclusion about the forces that would create a big impact on company and its resources. SWOT for Barbie is a powerful tool of analysis as it provide a thought to uncover and exploit the opportunities that can be used to increase and enhance company’s operations. These forces are used to measure competition intensity and profitability of an industry and market. Objectives of the organization and key players in this case. - Opportunities in Adjacent Markets – Barbie Doll can explore adjacent industries Gender, Public relations, Social platforms to further market growth especially by extending the features of present products and services. It is used for the purpose of identifying business opportunities and advance threat warning. Precise and verifiable phrases should be sued. - Strong relationship with existing suppliers – As an incumbent in the industry, Barbie Doll has strong relationship with its suppliers and other members of the supply chain. Below are the Strengths in the SWOT Analysis of Barbie: 1. Then, a very careful reading should be done at second time reading of the case. This can help Barbie Doll in thwarting the challenges of competitors in various industries Gender, Public relations, Social platforms. The strengths and weaknesses are obtained from internal organization. Its changes and effects on company. Browse marketing analysis of more brands and companies similar to Barbie. According to global executive survey done by Harvard Business Review & Brightline Initiative – Only 20% of the strategic targets set by organizations are realized. The four key elements of SWOT analysis are - Strengths, Weaknesses, Opportunities & Threats. This strategy helps the company to make any strategy that would differentiate the company from competitors, so that the organization can compete successfully in the industry. There should be only one recommendation to enhance the company’s operations and its growth or solving its problems. Product portfolio is limited to dolls only, 3. Other political factors likely to change for Barbie. The company can pursue horizontal integration to consolidate and bring efficiencies but I believe it will be a short term relief. Top of the mind brand recall globally among young girls. - Increasing Standardization – Barbie Doll can leverage this trend to reduce the number of offerings in the market and focus the marketing efforts on only the most successful products. - Diverse Product Portfolio of Barbie Doll – The products and brand portfolio of Barbie Doll is enabling it to target various segments in the domestic market at the same time. Fake imitations also sold under its name which is a concern 2. As of 2020, Barbie is one of the leading brands in the media & entertainment sector. - Intellectual Property Rights – Barbie Doll has garnered a wide array of patents and copyrights through innovation and buying those rights from the creators. Opportunities for Barbie can be obtained from things such as: Change in technology and market strategies, Government policy changes that is related to the company’s field. Following factors will influence the buying power of customers: Competitive advantage of company’s product. SWOT analysis helps the business to identify its strengths and weaknesses, as well as understanding of opportunity that can be availed and the threat that the company is facing. It is better to start the introduction from any historical or social context. Increase sales, market shares, return on investments. It limits the ability of the firm to build a sustainable competitive advantage. Another method used to evaluate the alternatives are the list of pros and cons of each alternative and one who has more pros than cons and can be workable under organizational constraints. It is recommended to read guidelines before and after reading the case to understand what is asked and how the questions are to be answered. Weaknesses come from lack or absence of five key resources & capabilities - financial resources, activities & processes, human resources, physical resources such as land, building, and past experiences and successes . Fluctuation in unemployment rate and its effect on hiring of skilled employees, Access to credit and loans. Quizzes test your expertise in business and Skill tests evaluate your management traits. Sales and public perception of the doll were both on the downswing. Line: 315 To generate the alternative of problem, following things must to be kept in mind: Once the alternatives have been generated, student should evaluate the options and select the appropriate and viable solution for the company. following factors is describing the level of threat to new entrants: Barriers to entry that includes copy rights and patents. Threats can emerge from various factors such as - economic growth, increase in consumer disposable income, political developments & policy changes, technological innovations, and changes in consumer preferences . Therefore to select the best alternative, there are many factors that is needed to be kept in mind. According to Karen Robson, Stefanie Beninger , it can also help in bringing the talent into domestic market and expanding into new areas Gender, Public relations, Social platforms. These forces refers to micro environment and the company ability to serve its customers and make a profit. The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Barbie competitors and includes Barbie target market, segmentation, positioning & Unique Selling Proposition (USP). There may be multiple problems that can be faced by any organization. Barbie Doll should just get out of these business areas and focus on strength and threats box , or on weakness and opportunities box. Strength of property rights and law rules. PESTEL / PEST / STEP Analysis of Does Mattel's Iconic Barbie Doll Need a Makeover? The BrandGuide section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2800 brands from over 20 industry sectors. They produced this Role Models Barbie in honour of extraordinary women in almost every field. After completing the analyses of the company, its opportunities and threats, it is important to generate a solution of the problem and the alternatives a company can apply in order to solve its problems. According to Karen Robson, Stefanie Beninger , brand recognition plays a significant role in attracting new customers looking for solutions in Gender, Public relations, Social platforms adjacent industries. And its ratio with corruption and organized crimes. - Increasing bargaining power of buyers – Over the years the bargaining power of customers of Barbie Doll has increased significantly that is putting downward pressure on prices. Therefore there must be some resources and capabilities in an organization that can facilitate the competitive advantage to company. Barbie Doll should focus on areas where it can improve the customer purchase and post purchase experience. Customized for audience of different countries 3. it is not possible for a company to not to take any action, therefore, the alternative of doing nothing is not viable. The challenging diagnosis for Barbie and the management of information is needed to be provided. SWOT Analysis is a proven management framework which enables a brand like Barbie to benchmark its business & performance as compared to the competitors and industry. However, the new entrants will eventually cause decrease in overall industry profits. It is said that case should be read two times. case study, this has provided Barbie Doll resources to not only thwart competitive pressures but also to invest into research and development. In this model, five forces have been identified which play an important part in shaping the market and industry. - Growing Market Size and Evolving Preferences of Consumers – Over the last decade and half the market size has grown at brisk pace. Wide range of dolls and accessories 2. You can download Excel Template of SWOT Analysis & Matrix of Does Mattel's Iconic Barbie Doll Need a Makeover? To make a detailed case analysis, student should follow these steps: Case study method guide is provided to students which determine the aspects of problem needed to be considered while analyzing a case study. Here are the weaknesses in the Barbie SWOT Analysis: 1. Copyright © Executive MBA Pro Resources 2019. Does Mattel's Iconic Barbie Doll Need a Makeover. Decisions needed to be made and the responsible Person to make decision. However, resources should also be perfectly non sustainable. The potential factors that made customer shift to substitutes are as follows: Products substitute available in the market. The Sales & Marketing solutions & strategies has helped Barbie Doll in coming up with unique solution to tap the un-catered markets. According to Karen Robson, Stefanie Beninger of Does Mattel's Iconic Barbie Doll Need a Makeover? Social media growth can help Barbie Doll to reduce the cost of entering new market and reaching to customers at a significantly lower marketing budget. To have a complete understanding of the case, one should focus on case reading. Organize DIY competitions in schools 2.Come up with a comic strip as Barbie has a large family and a long history 3. Analyze the opportunities that would be happen due to the change. The potential factors that effects bargaining power of suppliers are the following: Realistic solution should be identified that can be operated in the company, with all its constraints and opportunities. Therefore, in-depth understanding f case guidelines is very important. Next political elections and changes that will happen in the country due to these elections. Strengths in the SWOT Analysis of Mattel : Strong Brand Portfolio: Mattel has under its kitty some of the most recognized brands in the toy industry. Major HBR cases concerns on a whole industry, a whole organization or some part of organization; profitable or non-profitable organizations. Feel free to connect with us if you need business research. Barbie celebrated its 60th anniversary in 9th March 2019. Mattel has successfully created many strong global brands which give it a competitive edge the lesser money and resources are required to enter into any industry, the higher there will be new competitors and be an effective competitor. This presents Barbie Doll two big challenges – how to maintain loyal customers and how to cater to the new customers. Access of competitors to the new technologies and its impact on their product development/better services. It is very important to select the alternatives and then evaluate the best one as the company have limited choices and constraints. Analyze the threats and issues that would be caused due to change. Weaknesses are the areas, capabilities or skills in which Barbie Doll lacks. Pest analysis is very important and informative. According to Karen Robson, Stefanie Beninger in areas Gender, Public relations, Social platforms that Barbie Doll operates in the most reliable measure of profitability is Return on Invested Capital rather than one favored by financial analysts such as – Return on Equity & Return on Assets. - Credit Binge post 2008 Recession – Easy access to credit can be over any time, so Barbie Doll should focus on reducing its dependence on debt to expand. To make an appropriate case analyses, firstly, reader should mark the important problems that are happening in the organization. The party has lasted for more than a decade and rollback from Fed can result in huge interest costs for Barbie Doll. Use particular terms (like USP, Core Competencies Analyses etc.) After introduction, problem statement is defined. Opportunities are macro environment factors and developments that Barbie Doll can leverage either to consolidate existing market position or use them for further expansion. A firm (like Barbie) must organize its management systems, processes, policies and strategies to fully utilize the resource’s potential to be valuable, rare and costly to imitate. this describes the threat to company. In addition, it also identifies the weaknesses of the organization that will help to be eliminated and manage the threats that would catch the attention of the management. Clear yourself first that on what basis you have to apply SWOT matrix.
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