1. Understanding the target market – Lego is Parent-Approved. While kids are the primary target audience of any toy company, smart businesses also market to parents.
Who are the customer types for LEGO?
Lead Users—people LEGO actively engages with on product design. 1:1 Community—people whose names and addresses they know. Connected Community—people who have bought LEGO and [have] also been to either a LEGO shop or a LEGO park. Active Households—people who have bought LEGO in the last 12 months.
What is the goal of LEGO?
The aim of the company’s products is to “inspire and develop the builders of tomorrow”, and all products are based on the underlying philosophy of learning and development – through play. It is the LEGO philosophy that “good quality play” enriches a child’s life – and lays the foundations for later adult life.
What segmentation method does LEGO use to segment the market?
Age-based segmentation is another form fo demographic segmentation. It assumes that people in similar age brackets have similar needs, wants, desires etc. LEGO is a good use case for age-based segmentation. They can segment their customers into two groups.
Why is Lego so successful?
LEGO inspires and develops the builders of tomorrow
Building with LEGO bricks helps kids develop their creativity, increase their problem-solving skills, become more resilient and boost their collaboration and communication skills.
Who owns LEGO now?
What pricing strategy does LEGO use?
Price in the Marketing Mix Of Lego :
Lego has adopted a mid-premium pricing policy for its high-end products so that it seems reasonable and affordable to its customers. It has maintained value-based pricing strategy so that it can create further markets by increasing its customer base.
What is the LEGO broader strategy?
In this strategy, the marketing department was asked to provide a wider vision of innovation and creativity in the product development process. … The move brought LEGO’s strategy back to life, with products that met both creativity and business needs.
What is LEGO competitive advantage?
The threshold and distinctive competencies of Lego which helps it in achieving competitive advantage are : large capacities of installed production facilities; innovation and creativity; Raw materials knowledge extensive; creativity in product designing; efficient supply chain; reputed brand name across globe; focus on …