Financial Daily from THE HINDU group of publications
Thursday, Oct 02, 2003
Financial Daily from THE HINDU group of publications Thursday, Oct 02, 2003 |
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Marketing
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Strategy Mattel pulls out Star Beans range Purvita Chatterjee
Mumbai, Oct.1 MATTEL Toys (India) Pvt Ltd has withdrawn its Star Beans range of soft toys. The Star Beans range was an extension to the existing plush toys already offered by the company but pegged at an affordable pricing between Rs 99 and Rs 125 to suit the Indian market. Speaking to Business Line, Ms Nanette D'Sa, Vice-President, Marketing, Mattel Toys, said, "We do not have the right manufacturing facilities to make these toys any longer and have thus decided not to continue with our plush range in this series." Launched in 2001, Star Beans comprised Disney characters like Hilly Billy and Bullseye and was sold as a gifting item. Besides it had also launched under the Star Beans soft toy brand, animal characters, to embody the distinctive personality traits of the Zodiac sign they represented. Each Star Beans Zodiac Sign character came with a special booklet on the personality traits and preferences of the people born under that particular sign along with their likes, dislikes, friends, favourite colours, advice and a list of renowned personalities born under that sign. The company has been trying to bring down prices to suit the Indian consumer but continues to be a premium player in the industry. "We will try and scale down our prices whenever it is possible. But we also have to deliver the right quality and price and will continue to target the upper end of the market." For instance in India, Mattel sells its Scrabble brand at a 30 per cent discount to the prevalent prices in other markets. Continuing to import most of its high-end products, the company has decided not to set up a manufacturing base in India.
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