Lego 's Impact On The World 's Leading Brands

There was the change in the business strategy in the company that was brought up by the new CEO. The strategy was to survive, cut costs, sell businesses, generate cash and ignore the dash for the growth in the immediate future. Lego was known for the traditional blocks and components that will allow children to build anything with their imagination. The business strategy was to broaden the Lego products for the other customer segments. They created the

The Lego Group tried to catch up the market trends during the period, but they ignored that the industry total profit pool decreased by 50% Between 1999 and 2003. It's naturally for players to reduce mass production and focus on core competency. However, the Lego Group invested significantly in expansion not only in brick-based product lines, but also beyond the brick. The expansion was not focusing on its core competency.

The word "Lego" comes from the Danish words "Leg godt" meaning "Play well". As stated above, the company started with wooden toys. In 1947, the owner of the company, Ole Kirk Kristiansen, bought a plastic injection machine. It was very expensive, but they made a lot more money using it. In 1954, the new owner of the company decided to make the Lego bricks connect with any set made so that the options of what to make were almost unlimited. In 1960, a fire started in the factory, destroying most of the wooden toys and multiple plans for other ones. This made the company focus entirely on the plastic bricks. Nearly 100 years

I totally agree with you. Their mission statement fits perfectly to Lego company. Creativity is very important and developing this since a young age is good for kids and later for an adult because they bring it to their adulthood life. I really like that kids and adults play with Lego. They can make friends with people that love legos the same as they do which helps with building relationships which are a great skill to have in life. The other things about this blocks is that is not on the scream and people have a physical object to play

LEGO,  like  most  companies  in  the  toy  industry  are  fighting  to  stay  profitable  in  this

The high brand equity of Lego and other well established organizations offer another disadvantage to new entrants. Collaborations with the film industry helped Lego sustain market share and increase sales volume in the toy industry through franchise agreements on Harry Potter and Star Wars.

LEGO is a company that has a lot of strengths as well as weaknesses when based upon a SWOT analysis. Lego has a brand image that is very strong and well known. Not only created for toys for children but created with the mindset of having an educational purpose. As stated on page two of the case, “in order to help market the product to children and parents, the sets were creatively designed in collaboration with the Danish Road Safety Council to help teach children about traffic safety.” This not only helped children learn young about the rules of the road but also gained parents trust. Another strength for LEGO is that their toys are good quality. They are hard to break and when being built stayed together but also came apart easily when it was time to clean up. They referred to this as “clutch power.” Last of many strengths is LEGO is constantly being innovative. There are always new play themes, LEGOLAND theme park, LEGO movies and video games. Though many strengths, LEGO does have some weaknesses.

Then, Lego can use Information system to analyze the designs of the consumers’ to know their demand better. Designers can look for new inspiration through the analyze result too. Secondly uniqueness is one of Lego’s biggest advantages. Lego can design special series toys based on cultures in different countries. For example, Lego can design a “Great wall” or “Japanese temple” toy to attract different consumers in order to expand global

LEGO Group was formed by a carpenter Ole Kirk Christiansen in 1932 in Billund, Denmark. The Word, LEGO was meant to attract kids of various age groups, it is derived from Danish phrase, “leg godt” meaning: “Play well”. Initially LEGO was produced as a wooden brick, with their motto, “Only the best is the best.” The LEGO Brick was produced in 1958 composed of interlocking tubes that offered unlimited building opportunities. The purpose of The LEGO Brick was to inspire creative and controlled problem solving, while adhering to common curiosity using your everyday imagination (Sandgaard Jensen). It was awarded “Toy of the century” by Fortune Magazine, as well as British Association of Toy Retailers. LEGOs was sold in more than 130 countries. A couple major products include: Pre-school products LEGO DUPLO, Play Themes LEGO city line, BIONICLE, and many more Licensed Products built up around movies or books also including a LEGO Education Board game. Market sizes category US, Australia, United Kingdom, New

LEGO Group was started in 1932 by Ole Kirk Christiansen, who was a craftsman in Western Denmark. After losing his employment, Christiansen began making wooden toys rather than furniture. After a fire in his factory, he was compelled to reconstruct and chose to begin making smaller than usual adaptations of houses and furniture he had worked on as a craftsman. He changed to plastic in 1947 and by 1949 had assembled more than 200 plastic toys. Christiansen devised the term “LEGO" for a company name; LEGO is derived from the Danish words "leg godt" signifying "play well". The world’s third biggest toy maker owned by family investment firm Kirkbi A/S is well known for their notable multi-colored, plastic building blocks.

Legos are very popular collectibles, and there are specialized sets for collectors interested in art, Star Wars, architecture and so much more.

There is no doubt that LEGO holds a bond with people between childhood to adulthood. With their mission, ‘to inspire and develop the builders of tomorrow’, they have become one of the most iconic brands known to this day. As one of the leading toy companies in

Lego is one of the most recognizable companies across the world. The Lego Group was founded in 1932 by Ole Kirk Kristiansen and has since been passed down from generation to generation, currently owned by Kjeld Kirk Kristiansen. The Lego Group has headquarters in Billund, Denmark and main offices in USA, UK, China, and Singapore. The Lego name originated from the abbreviation of two Danish words “leg godt” meaning “play well”. The present-day Lego brick was launched in 1958 with the interlocking principle which allowed for an infinite amount of building possibilities. Because of the Lego Groups mass size there also comes a very precise corporate structure. The Lego company is operated in a five-member Management Board. The Management Board consists of the Chief Executive Officer(CEO), Chief Marketing Officer(CMO), Chief Financial Officer(CFO), Chief Commercial Officer(CCO), and the Chief Operations Officer(COO)/Chief HR Officer(CHRO). From there it is further broken down into a 21-member Corporate Management and a board of directors. This corporate structure allows for individual departments to work successfully within the larger corporation. With the Lego Groups mission to “inspire and develop the builders of tomorrow” they have become one of the world’s largest manufactures of toys, valuing imagination, creativity, fun, learning, caring, and quality.

Although cross platform branded content can deliver innovative storytelling, the branded entertainment is formulaic in order to make a profit. The affordance of digital media has influenced the development of new art forms, changing the way in which the audience consumes art and entertainment. Ultimately, this has created a need for corporations to embrace new engagement strategies in order to sell their product. A prime example of this is from The LEGO Group, who has strategically used digital technology to their advantage in order to boost their profitability. However, LEGO has expanded far beyond the urgency to sustain a business, and is now capitalising on the success of transmedia branding. LEGO shows that a company can be both creative and profitable. Ultimately, transmedia branding is an effective platform for creativity and innovation, but is mostly driven by the capitalist business model.

On account of this, LEGO clients are likewise for the most part faithful and locked in. The Danish organization does not think little of this, and tries to maximize this engagement. In 2008, they propelled a site called LEGO Cuusoo (now LEGO Ideas) which permits the clients to present their own thoughts for sets, which can later on be changed to real items. LEGO Cuusoo has permitted items, for example, LEGO Minecraft to be accessible