• Background
There exists in some human beings an insatiable draw towards the unique and the
unusual, as much a statement of individuality as the clothes a person wears. This attraction
sometimes leads towards the hobby of collecting a set of objects. Each person has their own
niche of memorabilia, often a set that reminds them of childhood fantasies or other happy times.
Because these consumers have specialized needs, wanting with varying fierceness to obtain
specific, rare items to complete their sets, the collectibles market makes for intriguing study,
especially that dominated by LEGO—the market for a collectible children’s toy distinguished by
its interlocking bricks.
The LEGO Company has made itself a giant in the market for children’s toys during its
existence and has used that leverage to propel itself successfully into the collectibles market. The
firm began as a manufacturer of wooden toys in Denmark seventy years ago. Sales allowed the
Danish company to survive, but not to thrive until it introduced in 1949 miniature plastic blocks
with divots and bumps that were aligned such that they could fit into one another, and were
designed for building structures. With these plastic blocks the company was able to market to all
first-world countries, from North America to Western Europe, Australia, and Japan. Visualizing
something and then constructing it, its creators believed, was and is an educational experience
that encourages “lifelong creativity, imagination and learning,” according to their press release.
Perhaps the very reason that many people now collect LEGOs is that they were indeed captivated
as children with the infinite capacity of the blocks.
LEGO expanded its product line in the late 1980’s by...
... middle of paper ...
...th. By having examined its
competitors and their successes, one now sees by contrast what LEGO is and is not. To continue
setting the market standard it must maintain its current corporate direction, including repeated
product updates and retirements, that was critically scrutinized here and proven to work. Indeed,
ask history itself.
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Works Cited
“Annual Average Exchange Rates: 2001.” Spreadsheet. Bank of England. 29 Oct. 2002
.
Annual Report: LEGO Company. “Annual Accounts 2001.” 2001. .
Annual Report: MegaBloks Inc. “MegaBloks Quarterly Report 2002. 2002.
.
“The Ultimate LEGO book.” New York: DK Publishing. 1999.
Heller, Richard. “(Re) Building Blocks.” Forbes. 168.13 (2001): 154.
Mand, Adrienne. “Bionicle Web Chronicle.” Advertising Age. 72.33 (2001): 21.
The Lego is a plastic building brick. It was made by Ole Kirk Christiansen in Denmark. The first Legos were actually plastic but had to go back to wood because, the people did not like them. But lets start at the beginning, Ole Kirk first started making wooden furniture. But one day, the workshop caught fire. Determined to continue on, Ole Kirk Christiansen wasn’t going to give up yet, so he built a new shop and worked on expanding his productions.
Mattel wants to improve their execution of the existing toy business and globalize their brands; extend their brands into new areas; identify new trends, create new brands, and enter new industries; develop people and improve productivity by simplifying processes and maintaining customer service levels. Mattel wants to make a positive impact in children’s lives around the world by using unrivalled creativity and innovation to create high-quality toys that will be loved by children and trusted by parents.
This paper is aim to have a quick analysis of current competitive position of Build-A-Bear Workshop in the toy industry and challenges it faces, and to provide Build-A-Bear Workshop with some short-term and long-term recommendations to continue its success in toy industry. This paper mainly apply Porter’s five forces analysis, external environment analysis, financial analysis and value chain analysis.
...for each individual tooth which gave them the look and feel of brand new teeth. These teeth were fitted to the people’s mouth and mounted down with steel springs ("Technology Timeline.").
A new design of smaller walls that were built in uneven lines, like a star shape, was implemented to strengthen the area called crownworks or hornworks. Other modifications of new designs included lower and thicker walls, gun towers that projected at an angle, intervals of guns for fields of fire, wide and deep ditches, and pillboxes.
Toys R Us Inc. revolutionized the toy industry more than four decades ago with its big-box, low-price stores. Toys R Us may be synonymous with toys, but also has its fastest-growing business in Babies R Us, which sells children's clothes, furniture and accessories. The company opened new stores and planned to build new additional Babies R Us stores.
toys I feel should always be the number one toy to buy over any power
Toy World, Inc is a manufacturer of plastic toys for children, founded in 1973 by David Dunton. In the past, the company's production schedules had always been highly seasonal, reflecting the seasonality of sales. Jack McClintock, president and part owner of this company, is considering a proposal to adopt level monthly production for the coming year.
Traditionally, Dansk Designs followed a strategy of differentiation. When a firm follows this strategy, they create differences in the firm’s product or service by creating something that is perceived as unique and valued by customers. Differentiation can take many forms, including prestige or brand image, which Dansk decided to implement. Their product line consists of eight product categories, which include flatware, china, linen, glass, decorator cookware, and wooden bowls and trays. Their products are of high quality and are highly priced. Dansk was able to achieve a differentiation advantage because their price premiums exceeded the extra costs of being unique. Dansk is able to create these unique products because of the talented designers they employ, including Jens Quisrgaard, Niels Refsgaard, and Gunnar Cyren. Another competitive advantage of a strategy of differentiation is the ability to deal with supplier power. There is a certain amount of status associated with being the supplier to a producer of differentiated products. Dansk’s principal supplier, Richard Nissen, has enjoyed working with Dansk because he believes they have been able to “preserve the handcrafted nature of the products”.
withstanding a large recession, and commanding high market share. In the last five years, the company’s
The LEGO Group organization is famous due to its flagship product – colourful plastic bricks that can be interlocked to form a variety of figures, and then disconnected again. These binding bricks originated in a wooden form when the company was first established in Billund, Denmark by Kirk Kristiansen in 1932 (The LEGO Group, 2012), and today’s well known plastic version was introduced in 1958 (Rosenberg). The company’s head office is located in Billund to this day, and The LEGO Group remains privately owned by Kristiansen’s family (The LEGO Group, 2012). They currently sell toys and teaching materials in over 130 countries worldwide.
P’kolino’s story is all about passion for superior products and how they can change people’s lives. Founded by Antonio Turcos-Rivas and J.B Schneider, the Company’s goal is: to “make better products to improve play at home”. In the course of developing safe and quality products, implementing and marketing other strategies, P’kolino Company aims at improving children’s play thus , improving sales by $51million (Bygrave and Andrew, 2008). The Company’s goal was comprehended during their MBA’s study. During their study, the two entrepreneurs began a thorough research and development project with more than twenty international design students.
Hasbro, is a global company that was founded in 1923. Hasbro is focused on, “helping to make the world a better place for children and their families.” They create the world 's best play experiences, which ranges from toys, to television, to digital gaming, to consumer products. They are based out of little Pawtucket, Rhode Island, but are currently operating in 40 other countries with 5,000 employees worldwide. They are a small company and are 550th on the Fortune 500 List, but they make an amazing impact on their community.
The origin of the word toy is uncertain but according to Harper, in 1300 a toy is meant t0 be an “amorous playing, sport later piece of fun or entertainment.” Today’s definition is an “object of a representation of something familiar, as an animal or person, for children to play with.” The definition of a toy doesn’t say a very fancy and shiny electronic device that effects a child’s development. The exact time of when toys were created on Earth is unknown due to the fact that we as humans haven’t been around for a ver...
When a person thinks of scrapbooking, what do they think? I think of all the pictures and memorabilia that I have saved to create a portrait of my life which I can cherish forever. Scrapbooking is more than making cute pages. Scrapbooking is a unique craft and strange hobby that is rapidly changing (“What”). One wants to make sure all the photos in the scrapbook are safe and won’t be destroyed. As the science of photography is changing, the life of the pictures is being increased, as long as all the safe materials are being used and precautions are taken in what they are doing and how it is being done (“What”).