By failing to adapt to their customers' changing demographics,needs and preferences,and continuing a "if it's not broken,don't fix it" strategy,Mattel's Barbie doll line lost significant market share to MGA's Bratz doll line,eventually leading to a costly lawsuit.

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The statement accurately describes the situation with Mattel's Barbie doll line losing market share to MGA's Bratz doll line due to a lack of adaptation to changing customer demographics, needs, and preferences. The costly lawsuit refers to the legal battle between Mattel and MGA over the ownership of the Bratz brand.

By Failing to Adapt to Their Customers' Changing Demographics,needs and Preferences,and