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Lego case study strategy development
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Product Description
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.
Although the company produces a wide variety of LEGO brick products, including themed sets and board games, for the purpose of this particular assignment a focus will be placed on the ‘LEGO Basic Bricks Deluxe’ set. This bundle of bricks is intended to fit any building level for customers aged four and up (Customer Reviews for Bricks & More: LEGO Basic Bricks Deluxe, 2011). It includes 650 bricks at various sizes (from 1x1 up to 2x8) in the colours white, yellow, orange, red, blue, brown, black, dark green and light green (The LEGO Group, 2012).
In order to distribute this particular product, The LEGO Group uses a multichannel distribution system. Customers looking to purchase the ‘LEGO Basic Bricks Deluxe’ set can order it directly from the online LEGO store (The LEGO Group, 2012), use the website’s “find a LEGO store” search box to find a company owned shop convenient to their location, or can purchase using retailers such as Amazon.com, Wal-Mart and Toys R Us. The digital LEGO store uses product bundle pricing and prices the set at C$34.99 (price varies between countries),...
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...m Lego: http://reviews.lego.com/1360/6177/bricks-more-lego-basic-bricks-deluxe-6177-reviews/reviews.htm
Gomes, E. (n.d.). Lego: Red Brick. United States of America. Retrieved from http://adsoftheworld.com/media/print/lego_red_brick
Rosenberg, J. (n.d.). 1958 - LEGO Toy Bricks First Introduced. Retrieved from About.com: http://history1900s.about.com/od/1950s/qt/lego.htm
The LEGO Group. (2012). 6177 LEGO® Basic Bricks Deluxe. Retrieved from Lego: http://creative.lego.com/en-us/Products/Basic/6177.aspx
The LEGO Group. (2012). LEGO® Basic Bricks Deluxe. Retrieved from Lego Shop: http://shop.lego.com/en-CA/LEGO-Basic-Bricks-Deluxe-6177?p=6177
The LEGO Group. (2012, January 23). The LEGO Group. Retrieved from Lego: http://aboutus.lego.com/en-US/lego-group/
Wikimedia Foundation Inc. . (2012, March 24). Lego. Retrieved from Wikipedia: http://en.wikipedia.org/wiki/Lego
As we all know, marketing is a necessary part of our daily life. Not only are products and services marketed, but we market ourselves as part of everyday business. I spent time this week speaking with a close friend of mind who is a Store Manager for H&R Block discussing the 4-Ps and how they pertain to his organization. It was very interesting to see how different industries market their products and services. Does the thought of receiving your tax return immediately grasp your attention? Well it has definitely helped H&R Block in boosting their ability to attract customers. It seems as thought immediate gratification is a promotion marketing tool that many companies are now using. After briefly describing the 4 P's of marketing we will review how H&R Block utilizes all of the steps in their marketing mix.
The Lego Movie is the story of a complete and utter dystopia but everybody does not know it. When Lord Business pretends to give them taco Tuesday as a form of gift or propaganda, he actually intends to glue them all in one place using the kragle (krazy glue with letters wiped off the tube). When he tries to do this, he is stopped by a simple minded construction worker, who at an earlier date has accidentally found the piece of resistance and learnt how to be a master builder. Through this confrontation will Lord Business rule over the world or will Emmet be able to save his home from being destroyed.
Lego kits can be used in different businesses and organisations like offices, car parks, arcades and banks.
Battleship is a commonly known game throughout the world. A strategic guessing-game, it was first introduced as a pen-and-paper activity where a player plots imaginary ships on a grid, and then take turns with the other player at guessing the positions of the ships of his or her opponent. While Battleship has had many different designs and title arts over the years, the 1967 version stands out as particularly significant. Along with the obvious “Battleship is fun” message, Milton Bradley attempted to sneakily convey a few subtle and not-always-wholesome messages through its choice in box design.
The beginning of the Lego Group was started then. Following the trade fair, Kirk needed money to secure his business’s future, so he asked his family for a 3,000 DKK loan. When Ole Kirk decided to completely make the switch to toys he held a contest to find a new name for the company the prize being a bottle of homemade wine. The winner of the contest was Ole Kirk himself with the name “Lego. ”He thought of the name by combining the danish words “Leg Godt” which meant “play well.”
Borden, N. H. (1964), "The concept of the marketing mix", Journal of Advertising Research, Vol. 4 No. June, pp. 7-12.
The LEGO Company has made itself a giant in the market for children’s toys during its
When you walk into the toy section at a store they have separated aisles for boys and girl toys. has not Legos have many girl related legos, called lego friends, and in the store can cost about $50.00-$90.00 dollars, while the boys can cost $40.00-$60.00 dollars, Girls toys and accessories cost About 7-10% more than
Marketing Mix is a very essential concept for the progression of the business. Products and services of a business organization get effective strategic positions in the market with the help of using marketing mix. According to Belz (2011), through appropriate attentiveness of the marketing mix, an organization can have proper explicated marketing tactics and strategies through which the company’s marketing objectives can be achieved at the required level. Marketing mix is not merely a single term but it is an assembly of different elements of marketing.
Marketing Promotional Objectives An objective represents targets that need to be reached to achieve the company’s aims. These objectives can affect the way businesses operate. Business organisations can achieve their set objectives in short periods or/and long periods. These are known as short-run objectives and long-run objectives. A short-run objective lasts up to one year, and it is used to achieve long-run objectives.
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
Market opportunities for breakfast cereals is vast, some segments of the market have been neglected, most notably that of the over-50’s. Insightful presentations were given at the “Older, Richer, Wiser” Conference that would suggest the over 50’s market segment is targetable.
Overview: The 360 PR created the Lego Builders of Tomorrow campaign to inform parents of the importance of creative play and give them tools to help raise ingenious play for their children’s. With the use of a variety of online media tools, the campaign aimed to create a dialogue with parents about the benefits of creative play and position Lego as a parenting resource in turning children into “Builders of Tomorrow”. Research: The study by the Kaiser Family Foundation (March 2006) stated that Lego found that children were spending more time with electronic media instead of the creation of imaginative play.