Marketing case study, the Lego Company, Lego, toys, marketing plan, strategy, Lego Group, customer, market, SWOT, key issues, objectives
Our consulting firm would like to investigate the LEGO Group with its current market situation, the threats and opportunities to the Group, and indicate the key issues for becoming success.
The primary objective of our marketing plan is to help the Group gaining more market shares as well as retaining the position as a market leader, because of this, a new product will be introduced to catch the attention from the market and make this kind of traditional toys come back to the public.
In this rapid changing world, predicting market trends would be one of the most challenging issues for toy manufacturing firms. It is very important for the LEGO Group to understand the customer needs, and providing the product that fulfilling customer needs. Moreover, the new product would be also in consistent with the original mission of the LEGO Group with is to let children play with LEGO with creation.
[...] (你喜歡玩電子遊戲嗎? 為什麼喜歡/為什麼不喜歡?) Y/N Reference List: Census and Statistics Dept. (2002). Living with statistics. Hong Kong : Census and Statistics Dept. Education. Census & Statistic Department Oct Masnick, Simone. (2005). Both answer to deficit in population—Explanations on the drop of birth rate. The Standard. [...]
[...] Customers can choose the accessory products according to the interest and age for their children. Of course, customers can buy the main product only without buying any accessory product. The “build your dream” is expected to have a long life cycle than most of other toys, as the “furniture” can grow with the children, and also it is a practical product that children can use it as a normal table Pricing Optional-Product pricing strategy: We will use the Optional- Product pricing strategy to set our prices. [...]
[...] Sales promotion: Customers can get a 20%-off discount when buying the second accessory product. Public Relations: “Build Your Dream” will be introduced in the LEGO magazine in detail Distribution Direct Channel: Customers can purchase the new product directly from LEGO group through the LEGO website. Indirect Channel: Customers can buy the new products through the original retailers such as JUSCO and SOGO Competitive Advantages “Build Your Dream” builds their Competitive Advantages via the following areas. Affordable—The price is cheaper than many Lego product and it is affordable by most target customers. [...]
[...] What are your criteria of buying a toy for your children? (你在購買玩具給你的孩子時會考慮什麼因素?) 2. Will you consider the education value of the toys when you make the purchase? (在你購買時你會考慮玩具的教育價值吗？) Y/N 3. Do you think playing toy is important for children's growth? Why? If so, in what way? (你認為玩玩具對孩子的成長重要嗎? 為甚麼? 如果重要, 具體體現在哪些方面?) Y/N 4. [...]
[...] This may implies that LEGO's product line for children from 8 to 13 years old satisfies their consumers better than other product line in Hong Kong. (Table b)The LEGO group then, may need to find out what are the weaknesses of other product lines and to redevelop their marketing strategy—whether to improve products for the weaker segments, or to put more resource to expand the stronger segments. Parent's value on the toys- Yip (1999) says that Hong Kong children are the influential decision makers for toy purchasing. [...]
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