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LEGO A Success Story

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LEGO A Success Story
Toys are a part of a child’s daily life where creativity and imagination is allowed to run wild and flourish. Children growing up in the 19th century are blessed with having the opportunities to engage in recreation through teddy bears, Barbie dolls, wooden horses and other toys. Among the difference types of toys, the little construction bricks known as LEGO is one of the most popular among children. The Danish company founded by Kirk Christiansen in 1932, is still operational and privately owned by the family until today (Phillips, 2010). With businesses spanning across 130 countries, this giant toy manufacturing business employs approximately 10,000 individuals to run the company (Jensen, 2012). Factors such as innovation, marketing and brand power are the main contributors to the success of the company, thus allowing the company to bring positive impact such as innovative education and economic growth for various parties.
Innovation is one of the key factors that resulted in the success of the LEGO Company. Innovative new products promote a constant interest of children; this allows sales to be constantly endorsed. Created in 2003, Bionicle is one of the most revolutionary products from LEGO as it became the turning point in the company’s innovative products. It was dubbed by The Guardian in an article by Widdicombe (2004) as “the biggest of the recent hits, and number one Lego product in 2003”. The Company realize that it is able to not only branch out of the construction toy category but also make an immense amount of profit in the role playing toy category. Goodley (2011) reported that the UK managing director Marko Ilincic was proud to announce the company enjoyed phenomenal sales during that year and was astounded to see the sustaining growth of it classic product lines, namely LEGO Star Wars and LEGO City. Due to idea originality aligned with the current trend of the market has enabled the company to boost it sales with its ground-breaking products.



References: Bithell, S. (2013) Lego Challenge Helps Students Visualize Curriculum Framework. Business Officer. 46 (6), pp. 17. Goodley, S. (2011) Lego profits boosted by Harry Potter magic. The Guardian [Online]. 3 March. Available from: http://www.guardian.co.uk/business/2011/mar/03/lego-profits-harry-potter [Accessed: 26 April 2013]. Jensen, M.V.S. (2012) About Us: The LEGO Group. Available from: http://aboutus.lego.com/en-us/lego-group/ [Accessed 23 April 2013]. Joffe-Walt, C. (2012) Why Legos Are So Expensive — And So Popular. Planet Money [podcast]. Available from: http://www.npr.org/blogs/money/2012/12/13/167055503/why-legos-are-so-expensive-and-so-popular [Accessed 27 April 2013]. Milne, R. (2013) Lego Moves Up Toymaker Ranks. Financial Times [online]. 21 February. Available from: http://www.ft.com/cms/s/0/adefc266-7c15-11e2-bf52-00144feabdc0.html#axzz2Rf91v6Ul [Accessed 27 April 2013]. Phillips, S. (2010) LEGO: Impossibly simple licensing. License! Global, January/ February 2010, pp. 53. Teo, I. (2012) Legoland Malaysia: An Economic Building Block. Money Minded Malaysians [blog]. 26 October. Available from: http://mmmalaysians.blogspot.com/2012/10/legoland-malaysia-building-block-for.html [Accessed 26 April 2013]. Wieners, B (2011), LEGO Is For Girls (cover story). Bloomberg Businessweek, 19 – 25 December, pp. 68 -73. Wolf, S. (2013) East Lake Community Library Uses LEGOS® To Support Stem Skills Of Young Patrons. Florida Libraries. 56 (1), pp. 15-17.

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