Mattel is the world’s #1 toy maker with more than 30,000 employees and more than $4 billion in sales. A well-established core product portfolio has set Mattel’s established position in the toy market much higher than their competitors. Its products include Barbie, Fisher-Price toys, Hot Wheels and Matchbox Cars, American Girl dolls books, and licensed Disney and Sesame Street products are just a few that have helped them reach such great profits throughout the world. Although Mattel leads the industry, it recognizes the complexity of staying on top in a highly competitive and shifting business. While keeping their sales outlets current, toy companies must constantly seek to achieve the next big hit. In addition the rising pressure of big-box retailers, the Internet, and catalog sales have affected the direction of the industry in more ways than one.…
Marketing increases awareness of an organization’s products and services. In the current technology driven market, organizations must constantly develop and promote new products and services to meet customer needs. The following plan outlines a proposed Kids’ Area for Best Buy.…
With Lego trying to differentiate themselves from other manufacturers, they can certainly continue with the themed Lego’s they have been. By continuing to keep track of today’s trends of children in the middle to upper middle class, they can stay ahead of the competition. Once Lego has established the trends among the selected demographic and even ages, they can implement a strategy to produce Lego products that will appeal to middle and upper class children.…
McDonald’s is a fast food giant and is one of the best known burger chains in the world. McDonald’s builds its brand equity by listening to its customers and continually adjusting its communication and marketing methods. Because McDonald’s faces stiff competition around the world from other fast food chains it must continually adapt. This paper will show how McDonald’s is segmented in the fast food industry, its target markets, and the selection process for that target market. Developing a marketing strategy is very important and to do that it is important to understand the company’s target customers. Once the customer base is understood, communication to that customer base is easier. This also translates into marketing to the customer base in the most effective way possible. McDonald’s segmented its products by psychographic, behavioral, and demographic characteristics. Their products are targeted at children, students, families, and business-people. The immense size of these market segments is why McDonald’s targets them, and the growth rate projections come into play as well. These segments tend to generate massive profit margins.…
I attended the marketing entertainment panel that included representatives from Elitch Gardens, Unser Karting, and Punch Bowl Social. The concepts discussed were target market, product positioning, and product line. The target market is a set of needs or wants that a business decides to serve. The markets for all of the businesses focused on the entertainment for various age groups. Elitch Gardens is an amusement park that tries to attract customers within a 100 miles radius of Denver. The amusement park targets families and teens within the Caucasian and Hispanic demographic. Unser Karting focuses primarily on business to business relationships. Business send different departments to Unser Karting for team building activities. The Punch Bowl…
During the second half of the 1980s and 1990s, the Disney Studio experienced a significant growth, and the division had a "golden age" with annual box office hits with such regularity that even their creative structure started to be known as the "Disney formula.".…
The essay is a strategic analysis for LEGO Group. LEGO Group is a famous toy company in the world, which established in Denmark. LEGO Brand is not only the familiar logo, but also the expectation. LEGO acts as a guarantee of quality and originality. LEGO’s core values are imagination, creativity, fun, learning, caring and quality. The essay will show strategic analysis by identifying the industry, analyzing general and industry environment, listing resources and capabilities, analyzing the company’s core competency, SWOT, current strategies. Then, giving the key issues. Finally, the essay will recommend the business-level strategy.…
The Company, analysis History Today Tomorrow Collaborative Innovation Theory, evolution Tools Lego User Innovation Strategy Lego Board Games Lego “Design By Me” Costs and Benefits Q&A…
Lego bricks still hold special meaning to many young adults who have played with the bricks in their teenage years. I, for one, count among those young adults as I was an avid collector of Lego products myself: whenever there were new Lego products released, I used to nag my parents to buy them for me and promised to be a ‘good boy’. Thus it came quite natural to me that I wanted to investigate the Lego group – the symbol of my childhood nostalgia - as a full case study report for my Strategy for Creative Technology Business class. Established in 1932, the Lego group was the world’s leading toy manufacturer that was embodiment of dream and imagination to children. Parents too, inspired by Lego’s brand image as ‘fostering mental development and creativity for kids’, patronized their products in spite of Lego’s relatively high prices. By the turn of the millennium, however, the changes in the toy industry coupled with expiry on their license, Lego faced huge challenged, reflected in their net loss of 308 million Euros in the early 2000s. Nevertheless, Lego’s exemplarily strategic management practices under its CEO, Knudstorp brought the company back to brilliance and as of 2014, Lego thrives once again as the world’s most competitive toy company. As such as is the case, this essay shall examine Lego groups ‘from riches to rags to riches’ story with a special focus on the strategic management process.…
Lego sets have been around for the past 50 years and have been enjoyed by people from all around the world. Very recently, Lego released a website called “Lego Cuusoo” through which people can create and submit their own ideas for a Lego project. Following the submission of the project onto the website, a voting process occurs; if enough support is gathered, the project moves into the production stage and is then sold through Lego. The revenue is shared with the developer as well. Accordingly, the objective of the MSCI 100 project consisted of entering our own idea of a Lego Project onto the website.…
Cited: Advertising Educational Foundation. "Kids Getting Older Younger." 31 January 2002. Advertising Educational Foundation. 24 September 2011 . Dividend.com Staff. "Needham & Co. Reiterates “Strong Buy” Rating on Mattel (MAT)." 9 September 2011. Dividend.com. 26 September 2011 . GlobalData. "Mattel, Inc. - Financial and Strategic Analysis Review." 2011. The Associated Press. "Jury Rebuffs Mattel, Giving Bratz Dolls Rights to a Rival." 21 April 2011. New York Times. 20 September 2011 . Thomas, Debbie, et al. "Mattel: Overcoming Marketing and Manufacturing Challenges." Ferrell, O. C. and Michael D. Hartline. Marketing Strategy. Mason: South-Western Cengage Learning, 2011. 457-469. Townsend, Allie. "Barbie vs. Bratz: It 's a Doll-Eat-Doll World." 22 April 2011. Time. 2011 September 2011 . —. "State of Play." 11 July 2011. Time. 23 September 2011 .…
The intelligence that you’ve had ever since childhood is beyond any wise men’s wisdom and that my friend, or preferably, mother, can take you very far in life. Whether that life will continue to be in your small hometown of Ghana, or across the ocean to somewhere big like America. Just know that no matter where you end up, you'll always be a genius.…
By the end of 2003 Lego was already facing crisis owing to dipping profits and declining market pool for toys. Lego had planned to expand into markets beyond building toys and needed huge investment to be made in it. But it found difficult to compete when fad players and other toy manufacturers were giving them stiff competition in a market that already was supposed to be giving lesser returns every year. This was mostly due to factors out of the control of Lego and other toy companies because, firstly, a research suggested that the demand of children who were primary customers of these companies were changing rapidly to fashionable and electronic products. They had lesser attention span and looked for instant gratification, and were lesser inclined to play with toys involving physical activity. Also Lego found it difficult to be competitive when its manufacturing base was in European markets while toy companies were moving to Far East and Middle East where labor was comparatively cheaper.…
Childhood toys advance either social or gender constructs to propel the concept of gender identity. Lego is a perfect example of a gender-neutral toy. Lego consists of colorful interlocking plastic bricks and an accompanying array of gears, mini figures and various other parts. Lego began manufacturing interlocking toy bricks in 1949. Since then a global Lego subculture has developed, supporting movies, games, competitions, and six themed amusement parks. In 1978, Lego produced the first mini figures, which have since become a staple. Lego's popularity is demonstrated by its wide representation. It was usages in many forms of cultural works, including books, films and art work. Lego is a legendary toy brand for boys to play a creation that used bricks to create multiple art works. As of 2013, around 560 billion Lego parts had been produced. It connected in many ways, to construct such objects as buildings. Anything constructed can then be taken apart again, and the pieces used to make other objects. However, this stance has since softened. At this period of time that toy brands are everywhere to attract kids towards their product. Toys are like technologies clothes for kids. Both genders can play Lego most of the time but they created more things for little girls to play. It is trained all the kids to be smart by ready instructions or even how to think things binds together. It is known as one of the best toys for both genders of that era. In fact, Lego is a brand that was really creative that can apply for kids while they are growing, things are just get more improve and better over time. Lego had really brilliant idea about made a place call Lego Land for all ages. Lego allowed children of both genders to express themselves.…
Case analysis 1) Current Market strategy (“4P” / “4C”) (1) (2) (3) (4) 2) Product → Commodity: innovative products / safe, durable and educational Price → Cost: moderate price / good value for money Place → Channel: Aggressive to increase the market reach and improve sales Promotion → Communication: focused strategies for advertisement and promotion of differentiated range and group of products SWOT analysis (1) Strengths (Internal) 1Internal operation 2 well-run established professional management expertise from diverse industries excellent sales history (continuous sales increase during the last 10 years) effective product testing and marketing programs facilitate internal toy design sound financial condition A leading toy manufacturer with a wide range of quality toys at moderate prices. has relatively good market for specialty toys, which has grown substantially over recent years 3Brand & Reputation (2) the best know brand for toys, has the largest market share (64.7%), and is brought most often (82.7%) Enjoys a reputation for…