The Lego Group (LEGO) has been facing numerous problems and symptoms, which is causing them to have major difficulties. Over the past couple years; various pressures have developed against LEGO. The toy industry is growing affecting LEGO negatively. Some symptoms they are encountering are decreasing profits, loss of market share, stagnate sales, and legal problems. These symptoms have put LEGO and its management team to identify where to expand product lines and strategies to help them stay dominant in the toy industry. These particular symptoms are creating many problems for LEGO making it essential they are strategically addressed and resolved. LEGO is facing various problems such as, increase of competitors. LEGO has lost a long legal
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LEGO must take into consideration economic and social trends that are occurring. Economic changes will effect this industry environment. The U.S economy is stable, but growing at slow pace. This means some consumer may not have the much disposal income to buy children these toys. Even though, LEGO was founded during the Great Depression they must be aware economic factors on a global scale. There are also many social trends developing like many children use technology instead of LEGO’s. Technology has a major impact because the toy industry heavily realize on it. For instance, my little cousin plays MindCraft instead of playing with LEGO’s. In the 1980’s, the LEGO was combining their plastic bricks with technology, which I think was great idea and is something that is could help them today with the rapid growth of technology. They also need to keep producing product lines that fit the latest trends, such as continuing to produce things like “LEGO Star Wars”. Consumer value education and new trendy products, which developing new technologies will help them do so. Technology will also allow them to operate more efficient allowing them to decrease …show more content…
For instance, if you were to buy a box of LEGO you could get access code that will now allow you build it in the game. This will allow them to sell new product and make the game more customizable. In addition, Minecraft is considered to be educational used in the classroom, which LEGO could promote with this new customizable game. This game will help boost creativity and allow them to conduct research on why people want to buy certain products. This assumption can be made because this game will allow people to see new products that are available because they could advertise free on there own game. It will also allow consumers to play with LEGOs everywhere. For instance, a consumer could purchase a product in the store, but have no where to build it where in the mean time this game will allow them to build it anywhere. They could also develop an online store on the app, which would allow consumer to purchase and build products right on their phone or tablet with no mess or hassle of going to a
LEGO must take into consideration economic and social trends that are occurring. Economic changes will effect this industry environment. The U.S economy is stable, but growing at slow pace. This means some consumer may not have the much disposal income to buy children these toys. Even though, LEGO was founded during the Great Depression they must be aware economic factors on a global scale. There are also many social trends developing like many children use technology instead of LEGO’s. Technology has a major impact because the toy industry heavily realize on it. For instance, my little cousin plays MindCraft instead of playing with LEGO’s. In the 1980’s, the LEGO was combining their plastic bricks with technology, which I think was great idea and is something that is could help them today with the rapid growth of technology. They also need to keep producing product lines that fit the latest trends, such as continuing to produce things like “LEGO Star Wars”. Consumer value education and new trendy products, which developing new technologies will help them do so. Technology will also allow them to operate more efficient allowing them to decrease …show more content…
For instance, if you were to buy a box of LEGO you could get access code that will now allow you build it in the game. This will allow them to sell new product and make the game more customizable. In addition, Minecraft is considered to be educational used in the classroom, which LEGO could promote with this new customizable game. This game will help boost creativity and allow them to conduct research on why people want to buy certain products. This assumption can be made because this game will allow people to see new products that are available because they could advertise free on there own game. It will also allow consumers to play with LEGOs everywhere. For instance, a consumer could purchase a product in the store, but have no where to build it where in the mean time this game will allow them to build it anywhere. They could also develop an online store on the app, which would allow consumer to purchase and build products right on their phone or tablet with no mess or hassle of going to a