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Lego case study account introduction the Lego set group was supported in 1932 away ole kirk christiansen.
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In 1946 they bought the first plastic injectant molding machine to make his toys.
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Children quickly adopted Lego building blocks every bit a new and innovative way of learning.
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It was started by a mere carpenter named ole kirk christiansen and with a a few employees in 1932.
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The story: for almost 70 days, lego experienced dependable growth.
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Lego can behavior market research to understand the supply-demand situation within the industry and foreclose overproduction.
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Is the Lego Group working with strategy 3001?
With these positive outcomes, there can’t be any doubts that the Lego Group is now back to its place in the development of children’s creativity, after several years of financial loss and failure (Irani, Sharif & Love 59).
How did Lego come up with its innovative strategy?
Answer: After LEGO met with failure in its innovative toys and diversification into other areas like theme parks, action figures like ‘Galidor’ and craft sets known as ‘Clikits’, it had to come up with an innovative strategy that will help the company to rise from the abyss. The company developed a new creative structure for its operations.
Which is the most important decision for Lego?
One of the most important decisions facing Lego/ Kjeld Kirk Kirstiansen is deciding who its main market is and how to target that market, using data to conduct a segmentation of the different needs and wants of that market and become the leading toy seller again.
What are the drawbacks of the Lego Group?
Lego Group has also been operating through large toy retailers, and this has been one of their biggest drawbacks in the market. The large retailers are effective marketing outlets, but they normally operate on high costs and this is likely to deprive the company of substantial amounts of money in profits.
Last Update: Oct 2021
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