Beanie Babies - A Success Story*

            


Details


Mini Case Code : CLIM020
Publication date : 2005
Subject : International Marketing
Industry : Toys
Length : 04 Pages
Price : Rs. 100

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Key words:

Ty Inc., plush toy company, Beanie Babies, collectible toys, retired categories, new line of product, pull strategy, marketing strategy, collector's items, top-of-mind-recall, sports range, charity range

Note

* This caselet is intended for use only in class discussions.
** More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US $16) per copy.

 


Abstract:
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The caselet discusses Ty Inc.'s hugely successful product 'Beanie Babies'. It describes how a small plush toy meant for kids, went on to become a favorite collectible for all segments, including adults. It also deals with the various product innovation strategies that the toy company adopted to keep the demand intact for Beanies.

Issues:

How Beanie Babies became so popular
How Ty Inc. established and maintained the popularity for Beanies
Product innovation - How it helps to boost sales
Retired versions - Is it a smart way to rejuvenate demand?

Introduction

Ty Inc. (Ty) based at Oakbrook, Illinois is one of the most popular and successful plush toy company. The company was founded by Ty Warner (Warner) in the year 1986...

Questions for Discussion:

1. How did Ty Inc. achieve success with the Beanie Babies line?

2. 'Ty Inc. retired Beanies at regular intervals.' Do you think Ty Inc. was right in doing this? Justify you stand.





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