Lego The Famous Toy Brand In The World Marketing Essay

Lego The celebrated Toy Brand In The World market EssayToday, LEGO has turned into one of the most famous wreak mark offs in the world this is a case study active a LEGO intersection manoeuver and shop im days. LEGO is nevertheless European country to occupy a get in the worlds top ten toy manufactures. LEGO crossways ar produced in Denmark, the US, Switzerland and Korea and retailed by dint of some 60,000 outlets in more than than 130 countries. It is estimated that in the 50 eld following its inception, some 203 billion LEGO element have been produced. The LEGO Company organizes its traffic into four main categories the sum business of fly the coop materials, family attractions, mannersstyle wargonions and media.LEGO outside marketing environment- the marketing environment will present many opportunities and threats that eject fundament everyy affect all element of the marketing mix we adage in this case the most nonable things concerning the external envir onment of LEGO is that it is viewed as a strong brand. It had been part of the toy market for so long. The reaping also has a unique selling point. Toy of LEGO is aiming to capture a creative imagination and also enable it to stand out in the market of dolls, cars, computer games etc so the ac association divides a product match to the customer needed. The management aims to ensure that at least one of each product LEGO sells is on offer in one of the outlets. A nonher validating aspect of the LEGO is the broad of products it sells and its ability to create products for electric razorren of all ages. They provide an fortune for children. There has also been big extension of the brand to outside of the toy market. The company has also face upd considerable reductions in sales in several countries that have seen a downturn in their economic environment. star of the main ways the brand has branched out is through the mental institution of LEGO based theme parks in several c ountries, including one in Windsor in UK. The main problem facing LEGO is the cultural change that is fetching place in society as a whole. In todays world, children argon much more attracted to the digital and technological world. Its management points out those only products of specific interest to children which match up to the companys stringent quality and exemplar ar allowed to tolerate the LEGO brand.SWOT analysis chartStrengths A product with a history and to which all generations feel attached. Unique selling point capture a creative imagination, system of play and problems of society Famous brand worldwide.. LEGO main weakness key point is products whitethorn not be as successful in the market and Lack of force in production creation of broken down products which require recall. Difficulties in management production with demand for the most popular LEGO lines.Opportunities have successfully introduced line extension, which should support fix stronger the brand. More child-oriented products could be introduced under the brand name with the unique focus of the company, focus should be put on further thorough the media market, which is one of the major competitors in children entertainment.Now a days in this competitive world so many toys on the markets, many of which has more functions and are more difficult than LEGO and its connected products.When the child searching for the gift in local toyshop, hypermarket, toy superstore or up to now on the internet firstly they think about LEGO because there are more choice available for the children. The choices available to the child may be extremely diverse or quite constrained.Consumer decision making butt on to the marketing decision made by LEGO -attracting people or help the using that product LEGO build a theme park for LEGO makes a product according to the customer what they are need and they think as a consumer. Now today a parent, every one advanced LEGO understanding brings support memorie s of their childhood. LEGO established a reputation for quality, adopting the slogan and the best is good enough. They craft a product according to the age range 0 to 16+ and its not easy task because todays time is globalization time younger group like that type of product who made with extra technology or who fit with their modern life However, remaining competitive in the fast-moving world of childrens toys means it must oblige on within adjust with is ready to respond to the latest fads and fashions. For analyzing about product or invited to enjoy a variety of role acting experiences. Its also building and rides are designed with children in mind. They give to dislodge for children to use their product for educational establishments there is also a home of learning material. Although the format of the product and coverage of the range used to be very much similar, the creative imagination it was designed to capture was merely same. They make a product what can be afforded , where the spending priorities untruth and how a purchasing decision is made. They did not design that type of product, which is not cheaply nor do expensive means they developed a product according to the todays common family income how much they are spend or favourite(a) of their product. The company is continually searching for innovative and exciting way to operate forward. There is some statement which is define how they work according to the customer needed-Conny stated there must be a shared sight throughout the company with a strong focus on the customer. This focus on the customer implied that LEGO had to clearly understand who its core customers are. So LEGO defined customer groups according to their level of affinity, starting with households that never or rarely buy LEGO products up to users who are true fans who spend a considerable amount on LEGO products.http//blogs.forrester.com/customer_experience/2009/11/lessons-from-lego-at-forresters-marketing-forum-emea- 2009.htmlIt is also make a product for educational establishments they also have categories for learning materials 7-16+ and developed a ranged called LEGO DAGTA that consists of products for kindergartens and schools. They make an innovative and engaging 30-hour curriculum introducing creative robotics to educatees in middle school. This student will be using humanities as a mental hospital for the exploration of past, present, and future inventions. The curriculum also includes a four-part Teachers Guide, activities correlated to field standards, digital resources, and reproducible student materials. Lego always build a rock-steady and such as type of product according to the gender. LEGO products aimed at the consumer are then split into eight different product programmes LEGO PRIMO, LEGO DUPLO LEGO SGALA etc. The LEGO SAGLA and LEGO frame belville sets are especially designed for the needs of the girls.Market strategyLego is experiencing increase challenges in the market mos tly spurred by socio-cultural and technological issues that certainly impaction on each. A current economic crisis, consumer behavior changes as surface as technological improvements are forcing Lego to improve its marketing strategy. Pursuing a new strategy Shared Vision with the purpose to re-vitalize the Lego Brand as a synonym to creative building fun and role play Lego aims to sustain its competitive advantage in the toys industry (Company Profile 2007). Hence, a solution to these challenges might be seen in the pursuit of marketing activities establishing close together(predicate) relations to stakeholders in order to sustain competitive advantage in the future. Theoretical Considerations Adhering to Hkanssons (2006) statement No Business is an Island the theoretical model guiding the analysis of Question 1 (Q1) will be a network perspective. According to Gulatis (2000) view the economic environment becomes sharply more competitive, the firmThe LEGO Company has been making great moves lately, moves that are building the online nominal head of the company and rewarding loyal customers.I remember playing with Legos as a child and they provided hours of entertainment Im very glad to see that the company and the Lego is healthy and growing, especially in this age of computers. Legos were one of the first toys I bought for my kids as I think its fantastic for childhood development and creativity skills.FromThe Long Tail, LEGO has done many other things than simply selling a product, which they do well. They have invited participation from customers who become a limitless hand over of product designers.The LEGO Designerallows people to create their own model, share it and get it. As a result there are thousands of customer-created models in all kinds of categories, and the Lego Designers choose their favorites to feature on the site.The cover story ofWired at long last February, LEGO opened updevelopment of Mindstorm Robotics.Lego started by open sour cing the Mindstorm NXT software the core component of the robotics toolset. Coming later this summer, Lego will also release microcode code for Software, Hardware and Bluetooth Developer Kits.This is an amazing story of how a toy company started with a simple product and grew to take advantage of the technology of the age. not only the technology but they have and increased their audience from children to those of us children that havent yet grown up.The companys vision is to become the worlds strongest brand among families with children in family 2005. LEGO position itself as The Power to Create in the minds of children and adults. Problem acknowledgment Buying Behaviors Children are an important part of the family buying process. In step-up to the obvious role that the children play as the user, they are also the buyers of the future. Children who plays with LEGO may be able to hold on to the adult due to brand awareness and brand loyalty formed at their early age. As LEGOs co re target market are children age 0-16+, the company face great challenges in developing products that appeal to the increasingly sophisticated demands of children. Children are moving into new markets. Children as young as seven stimulant drugRead morehttp//www.coursework.info/University/Business_and_Administrative_studies/Marketing/LEGO_has_been_around_since_1932__Today_L_L86258.htmlixzz0Z8IcCTSkLike every large company, Lego has a must culture you must do this the open source developer confederation has a can culture I do this because I sine qua non to, because I can. The value of the outside-in model is that it brings a different culture inner your company.Toy maker Lego reported a 60% rise in net profit in the first six months of 2009 as it say parents were turning to its classic products in the recession.