Lego The Famous Toy Brand In The World Marketing Essay

Lego The Famous Toy Brand In The World Marketing EssayToday, LEGO has turned into matchless of the most renowned toy brands in the world this is a character study about a LEGO intersection point and brand image. LEGO is only European country to occupy a place in the worlds top ten toy manufactures. LEGO outputs are produced in Denmark, the US, Switzerland and Korea and retailed through some 60,000 outlets in more than 130 countries. It is estimated that in the 50 days following its inception, some 203 billion LEGO element view as been produced. The LEGO Company organizes its business into four main categories the core business of play materials, family attractions, lifestyle products and media.LEGO external merchandise environment- the foodstuffing environment will present some opportunities and threats that stool fundamentally affect all element of the marketing mix we saw in this case the most notable things concerning the external environment of LEGO is that it is view ed as a strong brand. It had been part of the toy market for so long. The product in any case has a singular selling point. Toy of LEGO is aiming to capture a creative imagination and in like manner enable it to stand out in the market of dolls, cars, computer games etc so the alliance divides a product agree to the node needed. The management aims to ensure that at least one of every(prenominal) product LEGO sells is on offer in one of the outlets. Another positive aspect of the LEGO is the broad of products it sells and its ability to create products for children of all ages. They provide an opportunity for children. There has also been considerable extension of the brand to foreign of the toy market. The company has also faced considerable reductions in sales in several countries that become seen a downturn in their economic environment. bingle of the main federal agencys the brand has branched out is through the introduction of LEGO based theme parks in several count ries, including one in Windsor in UK. The main problem facing LEGO is the cultural change that is taking place in society as a whole. In todays world, children are 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 standard are allowed to tolerate the LEGO brand. cram analysis chartStrengths A product with a history and to which all generations feel attached. Unique selling point capture a creative imagination, arrangement of play and problems of society Famous brand worldwide.. LEGO main weakness key point is products may not be as successful in the market and Lack of efficiency 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 help make stronger the brand. More child-ori ented 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 even on the meshing premierely 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 process 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 concord to the customer what they are need and they think as a consumer. Now today a parent, every one innovative LEGO understanding brings support memories of their chi ldhood. LEGO established a reputation for quality, adopting the slogan Only 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- paltry world of childrens toys means it must keep 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 playing experiences. Its also mental synthesis and rides are designed with children in mind. They give to chance for children to use their product for educational establishments there is also a category 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 exactly same. They make a product what can be afforded, where the spending priorities lie and how a purchasing decision is made. They did not design that type of product, which is not cheaply nor do expensive means they essential a product according to the todays common family income how much they are spend or preferred of their product. The company is continually searching for innovative and exciting way to move forward. There is some didactics which is defined how they work according to the customer needed-Conny stated there must be a shared pot 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 ma ke 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 political program introducing creative robotics to students in middle school. This student will be using humanities as a foundation for the exploration of past, present, and future inventions. The curriculum also includes a four-part Teachers Guide, activities correlated to national standards, digital resources, and reproducible student materials. Lego always build a reliable 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 SYSTEM belville sets are especially designed for the needs of the girls.Market systemLego is experiencing increasing challenges in the market mostly spurred by socio-c ultural and technological issues that certainly impact on each. A current economic crisis, consumer behavior changes as swell up 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 competency be seen in the pursuit of marketing activities establishing closer 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 framework 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 presence of the company and rewarding loyal customers.I reckon 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 root 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 supply of product designers.The LEGO Designerallows people to create their own poseur, share it and purchase 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 ofWiredlast February, LEGO opened updevelopment of Mindstorm Robotics.Lego started by open sourcing the Mindstorm NXT software the core componen t of the robotics toolset. Coming later this summer, Lego will also release Firmware code for Software, Hardware and Bluetooth Developer Kits.This is an dire 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 year 2005. LEGO position itself as The Power to Create in the minds of children and adults. Problem recognition Buying Behaviors Children are an important part of the family buying process. In addition 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 core target market are children age 0-16+, the company face gr eat challenges in developing products that appeal to the increasingly sophisticated demands of children. Children are moving into new markets. Children as young as seveninputRead 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 subtlety you must do this the open source developer community has a can culture I do this because I want to, because I can. The value of the outside-in model is that it brings a different culture inside your company.Toy maker Lego reported a 60% rise in net profit in the first six months of 2009 as it said parents were turning to its classic products in the recession.