Hot wheels at Mattel: Reinventing the wheel Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Hot wheels at Mattel: Reinventing the wheel Case Solution

To which segment/s of the market does Hot Wheels offer the greatest value?

Kids and children are the market segment for the hot wheels that the company is serving the value. The target market of the Mattel hot wheels are the boys from the age 3 to 8 for toys and men who are in their 30s or older. The value that the company was offering to the children was a variety of toys and for adults, the great value was offered through meeting their demand for digital gaming products. Consumers are moving their patterns towards digital equipment. Customers are focused and more interested in digital products and now trends are also changing so it was high time for Mattel to bring innovation into the products.

What is your forecast for the sales potential of the Hot Wheels’ mixed play platform, and the short and long-term? What benchmark makes sense to assess commercial success?

The expected sales for the hot wheels mixed play are expected to increase because the new commercial and the product launch will increase the sales of the product. Mattel expected sales will increase 15% next year because when the company was on its high points of scale the company had the highest sell in the industry. According to our calculations, the sales would increase after the launch of mixed play and the expected sales will be $15 million to $20 million. The commercial benchmark target would be to achieve at least 20% more sales because the company will increase the product awareness through commercials and when the consumers find that product appealing then they would increase the product sales.

Evaluate Hot Wheels’ marketing strategy and offer your recommendations

The marketing strategy that Mattel was focusing on all age groups and also divided the physical and digital approach according to the consumer’s age bracket. So this strategy was a good strategy to follow but along with that the company should focus on the different TVCs and attract the children and older children but for adults and teens Mattel should arrange the shows and arrange the flash mobs and gaming zone programs to increase the teen's interest in the digital gaming. The hybrid strategy needs hybrid marketing to make it more successful.

Lay out a complete go-to market plan for the launch of Hot Wheels’ mixed play platform. Your plan should address pricing of the various components, channel(s) of distribution, communication (What stage or stages along the customer decision making journey will you try to impact?) and launch timing.

The launch plan for Hot wheels’ mixed platform is briefed below:

The basic need of the consumers is the digital platform for gaming, because they are all interested in playing digital games in comparison to the physical games, so the first step for the marketing is to launch the product that consumers are looking for.
The target market for the company is kids, teens and adults so the commercials should be designed accordingly.
The company should follow the RACE framework to make the launch successful.
First, the company should plan the launch with the right time approach. After which, it should follow the strategic approach of digital marketing.
Secondly,the company should reach the market through commercials and arranging the programs. Reach the target market through logs, search engines and social networks.
Acting and encouraging the participation of the target customers. The program arrangements will help the company in increasing the participation of its target market.
Starting the conversion process. Converting the random suffers into the customers.
Engaging will help the company in turning the casual customers into loyal customers.

Mattel should revise the prices of the newly launched products and should also follow the pricing strategy of the comparative strategy. The company should compare the market price as well.

The only thing that can impact the consumers’ decision-making, could be the price and the first experience or the impression which the product would leave on the target market, so the company needs to improve its marketing strategy........................

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