Mattel, Inc. is the largest toy company in the world. This company designs, to manufacture, markets, and distributes a large amount of different toy products to over 150 countries worldwide.From Picture Frames to Mattel Toys (1945-49)The founders of Mattel, Inc were Elliot and Ruth Handler 1945, where they lived during a fast changing postwar time. Handler started with designing light fixtures and soon started making furniture, which they sold out of their garage. They extended their product into making giftware and costume jewelry, and this soon became a $2 million enterprise. To remain competitive, Elliot wanted to change his direction into a new business approach. Ruth Handler decided to hook up with her old friend, Harold “Matt” Matson, and they together started Mattel Creations, with Elliot as the designer for the products. Mattel, the name, came from mixing Matson’s last name with Elliot’s first name. Matson soon became ill, and had to leave the company.With the scrap left over from making picture frames, Elliot started on his first dollhouse furniture. Some of their first toys were the “birdy bank”, and the “make-believe makeup set” and these products helped the Handlers break even with their expenses and costs. The first hit product in the toy industry was the “Uke-A-Doodle, a miniature plastic ukelele, and soon to follow was the plastic piano with raised black keys.There were some lessons that the Handlers had learned in the toy industry in the beginning, and that was that child participation was very important for any quality toy and that children should be able to interact with a toy and want to play with it for long periods of time. Also, they had learned that a toy with lasting appeal stood for a basis for…
…cisions were made and the company was forced to pay $122 million to settle cases with lawsuits filed by the shareholders who felt there again was misleading information on the company’s success. Hard times took a positive turn when the company focused on Blockbuster toys like Harry Potter, Spongebob Squarepants, and Diva Starz. Mattel continued to sell hot wheels and Barbie, their all time best sellers. Moving on with new generations, Mattel partnered with computer game and toy companies and continued to be a growth company, besides their few obstacles. Eckerd continue to run the company and followed the improving bottom-line approaches rather than top-line. Mattel continues to grow faster in international sales compared to their competitors. The company has made its footprint into history as being the largest toy manufacturer, seller, and distributor in the world.
Best services for writing your paper according to Trustpilot
