Barbie and Mattel Corporation Term Paper Example | Topics and Well Written Essays - 500 words

Barbie and Mattel Corporation - Term Paper Example Creating a brand name serves as the best way to achieve this objective. This was the main story behind the success of Barbie in Mattel Corporation. Handler and Elliot modeled a success story by taking a different approach in that designing and modeling Barbie differently from other dolls in the market, which are susceptible to fashion and fickleness. Since customers are aware of an existing similar brand in the market, they are more likely to be more attached to a brand extension that provides better utility as compared to a new product (Arslan & Altuona, 2010). The success behind Barbie was that while other dolls were modeled on the prospect of being tender and dependent , Mattel developed a completely different approach of the same dolls by making Barbie to appear independent and having an elaborated adult figure that portrayed compete femininity that many girls of different ages were attracted to or tried to emulate. This was better enhanced by providing Barbie with different hair styles, mood expressions and different expressions of careers. Barbie according to these aspects became more than a doll in the lives of many young and middle age girls, in that Barbie had a different lovely expression to each age group. This was the story behind creating a brand name in dolls industry that made Barbie to become a lifestyle for many. Though Barbie was hardly a high tech product, it was through innovation that Mattel made the model to be a brand name in the market. The idea of innovativeness and extensions made the two to adopt a different approach that made the product a brand name in the market. An existing product can be created into a new product through brand extension that is much cheaper as compared to introducing a new product in the market (Arslan & Altuona, 2010). Largely brand extensions provide a better way to making brand recognition and image in venturing new markets (Aaker & Keller, 1990).