Question

Mattel's

7. What is your recommendation for how Mattel should organize the production of its products in the global economy?

Answer 1

Metal is one of the most abundant materials, which is the central bone of all the industries in the world.

Move from traditional toys Digital Twins: Mattel must create a digital ecosystem of its best brands such as Barbie, etc. to engage better with the target audience. In the world of smartphones, only digital twins can be used to save the falling sales and identity of the brand.
Expand in developing markets: There are ample opportunities available to invest in developing markets such as Asia Pacific, Middle East, etc. These markets are still looking for traditional branded products which are still aspirational for them.
Market Sustainable Practices: The biggest concern that the brand is facing is the loss of faith in its quality. Mattel must launch a massive campaign to show they still care for quality and customer safety is the highest priority for them. This will repose faith in their products again
Leverage its brand with the millennials through their parents: Mattel can develop a marketing campaign to connect with the millennials through their parents. These parents, especially mothers, must have fond memories of Barbie dolls and other such products while growing up. These connections can be leveraged to push products to the kids
Portfolio Diversification: Mattel must diversify its portfolio and move towards adjacent products such as Barbie sportswear or corporate wear (formal clothing). This will provide a new growth engine for the company.