LEGO Situation Analysis
As previously mentioned, LEGO has been the worlds most dominating toy company. Generation after generation, kids have played with LEGOS resulting in more than 10,000 employees as well as annual sales of $1 billion. LEGO has a strong brand. LEGO have faced a gruesome downfall in recent years due to technological advancement in children’s toys. The company finally found ways to innovate by making Lego pre packed products and developing more technology-based games for children.
LEGOs 4 Ps of marketing, which are place, price, promotion, and product, is working great compared to other products. First the place for LEGO toys can be found at any toy store such as Toys r Us, and big retailers such as Target, Wal-Mart, etc. By placing the product at these many stores, especially big retailers, it makes the toy more accessible to many consumers. The price is reasonable because it provides more than just a play toy; it provides educational learning and skills that a child can develop overtime and apply it to the real world. Depending on what LEGO set a consumer purchases it can vary from $3.00 to $80.00. Of course the more pricey LEGO sets come with more pieces and specialty