What the marketing community can('t) learn from Barbie's marketing team
Not that much, really, unless you have a very specific kind of brand
A Nutopia Snack
Barbie has been all the rage recently, thanks to it seemingly being everywhere all at once and in rather innovative ways to boot. Many have also rushed to write pieces on what we can learn from Barbie’s marketing.
Unfortunately, Barbie is such a unique piece of intellectual property that the marketing community can learn very little from Barbie's marketing. However, if you happen to be in the possession of a brand that...
is global
is decades old
has about 100% awareness
is practically universally loved
is linked to childhood's most treasured memories
is in a high engagement category, e.g., toys or games
has got today's hottest directors as well as actors excited
is the subject of one of summer's biggest blockbuster movies
...Then, you can learn how to use your intellectual property very effectively to market the brand, the movie, and the phenomenon.
Instead of spending your money on advertising, for example, you can allocate part of your budget to collaborations and stunts, which, accompanied by effective PR, can multiply the impact of your marketing. Barbie had over 100 (!) collabs.
But this was only possible because the brand checked points 1. - 8., meaning that the world was full of third parties and brands dying to work with Mattel, cheaply or for free, or even pay for the pleasure, because it was also excellent marketing for them.