Startups fail for a lot of reasons: a lack of money (duh), poor marketing, a pivot gone awry, legal challenges. But another, different reason tops the list year after year.
Having captivated boys with its 'Star Wars' figures, the toy company is turning to Disney Princesses and the launch of its first animated movie to arrest a five-quarter slump in sales of its toys for girls.
In the consumer-products industry there is clearly the need for a solid product in order to produce solid sales, but there is a tremendously greater need for a brand once you grow beyond a certain point.
While social media and marketing can definitely help boost a brand's online presence, there are a few other things companies should do before investing resources to these areas.
While on the surface these big mega-brands may seem un-relatable, we really can learn a lot from their work and how they approach both their products and brands.