Marketing strategy is essential for the increase in the percentage profits attained by businesses and as such should be given the necessary attention since it is a major prerequisite for business stability as has been observed for certain business organizations. LEGO group is a company that specializes in making playing toys for children. LEGO is a private company that has been in existent for over eighty years after being founded in 1932 (John, 2014). The company has established its position in the market as one of the leading toy manufacturing companies. Majorly making Lego branded toys, the business operation at the company has seen the steady it rise to among the top and most valuable companies in the world, even making it to the Forbes top one hundred list of the world’s most valuable brand of products.
Such success prompts every critically thinking business organizer or student to question reasons behind such market prowess (Jobber, 2012). A case study of the company reveals an effective marketing strategy as the major reason behind the company conquering the market and ending up establishing its position among the top (John, 2014).
It is indeed true that the market, especially the consumers have been behind this success hence a consideration of the success reasons is important. The products of the company are linked to high quality and value being that the business organization has a long history of operation. Having a large consumer base has been a major strength of the company with almost every family having a child in need of using a toy during their playtimes (Kotler et al, 2012). The need to incorporate efficiency into the products has been a major weakness point of the company with some products occasionally being brought back for failure to meet the intended functions (Kotler et al, 2012).
The coordination of the lines of production to ensure that the products manufactured meet the consumer demands has been a challenge to the company and needs to be addressed. The company has a range of opportunities that if explored would guarantee further growth. The fact that it has a larger consumer base makes the market an opportunity that needs more business ventures.
Opportunities on the media are also available to the company with possibilities of using media houses to advertise and promote their product’s brand. The presence of other toy manufacturing
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