Lego Marketing Mix: Lego is a brand that is associated with the production of plastic construction toys. It is a subordinate of the parent company, the Lego Group. The company was established in 1932 under the leadership of its Danish founding father, Ole Kirk Christiansen, and Lego toys first came onto the market in 1949. Lego was ranked first place in February 2015 as the most powerful brand. The company produced over 600 billion pieces of Lego parts in July of that year.
Marketing Mix Of Lego
Marketing Mix Of Lego is brand-based. In Marketing Mix Of Lego, We will Learn About the four critical elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing the Lego Marketing Mix. Below is the detailed Marketing Mix Of Lego.
Let’s talk about the Lego Marketing Mix.
Lego Main Competitors
- Tyco Toys
Lego official website: www.lego.com
Product in the Lego Marketing Mix:
Lego is the most popular product of the Lego Group and comprises LEGO bricks that are interlocking and colored, as well as mini figures, including gears, gears, and other pieces. They can be combined to build vehicles, robots, and buildings. It is straightforward to construct an object and then remove it to construct an alternative object.
Many thousands of Lego sets have been introduced by the Lego group, with themes such as robots and Space, Wild West, undersea exploration, castles, dinosaurs, Vikings trains, pirates, and trains. There are also licensed themes from films, video games, and animated films such as Lego Island, Lego Creator, Lego Racers, Lego Minecraft, Lego Star Wars, Lego Racers 2, Lego Indiana Jones, Lego Marvel Super Heroes, and Lego Batman. In 1999, Mindstorms was created by Lego.
It was an electronic line with numerous updates and expansions since its launch. It is programmable and has sensors for ultrasonic sound waves, light, and even touches. In 2009, the company introduced games on the board like Ramses Pyramid, Creationary, and Minotaurus, where players use the advantage of Lego bricks to build a playing board and then play with Lego-style players. LEGOwear Clothes have been on the market since 1993. They are produced under the permission of the Lego Group to Kabooki Company.
Place in the Lego Marketing Mix:
Lego Group is a privately owned company with its head office in Billund, Denmark. The company’s principal offices are in Shanghai in China, London in the United Kingdom, Enfield in the United States, and Singapore. Manufacturing facilities are situated across the world. Molding is performed by Billund in Denmark, Jiaxing in China, Monterrey in Mexico, and Nyiregyhaza in Hungary. Lego has factories in Kladno, Mexico, Hungary, and Denmark to manufacture bricks and packaging. Lego officially launched its website in 1996.
It is an online store and provides additional services such as catalogs of products, information about related items, and instructional guides. Lego is a large distributor network, which includes distribution operations through one hundred and twenty-five retail stores. Of these, eight are in the United States, eleven are in Germany, 13 are in the United Kingdom, two are in Austria, and six are in France. One is within Denmark, Denmark, and Sweden. In India, the first Lego outlet was established in 2014 in Chennai, located in Tamil Nadu, by Funskool under an agreement for a license.
Price in the Marketing Mix Of Lego:
Lego targets children from the 3-15 age range from middle and upper-class families as its main clients. It has emphasized the use of top-quality materials to manufacture as they are used by children susceptible to inferior products. Lego has established a mid-price cost policy for its premium products, which makes them appear sensible and affordable in the eyes of its consumers. It has kept its value-based pricing policy to help it develop new markets by expanding the number of customers it serves.
Promotions in the Lego Marketing Mix:
Lego has carried out a range of promotions to increase recognition for its brand, including advertising and marketing via media like television, online printing magazines, and in-store initiatives. Lego is also actively involved in numerous events to increase exposure for its brand. It launched the Lego Minifigures series for the Summer Olympics 2012 and mascots Tom and Vinicius for the Summer Paralympics 2016 and Summer Olympics 2016, respectively. The company has created My Lego Network for social networking in its promotion campaign. It offers badge rank, blueprints, and other items gained after accomplishing certain tasks and trophies. Lego is proud to celebrate every store’s opening with weekend-long celebrations.
This is the Marketing Mix Of Lego. Please let us know if you have additional suggestions to add.
Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.