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Marketing Management Write a discussion response to the information provided...

Date Posted: 11/02/2020
Category: Other
Due Date: 12/02/2020
Instruction
LEGO was founded in Denmark by creator Ole Kirk Christiansen in 1932 and launched on the market in 1949. Legos are tiny plastic blocks that can be interlocked to easily construct and take apart creations. There are thousands of different pieces and sets that can stand alone or be combined together to create something new. Some of the sets include licensing partnerships with big brand names. These partnerships include Harry Potter, Batman, StarWars and Marvel and so many more. Promotions LEGO advertises in print, television, online and with in store efforts. They understand the value of their product and one of their greatest marketing creations was the use of LEGO products in the LEGO movies. The movies gave them a broader range to promote and attract new and old customers. They are witty and well done and each film is one big advertisement for every product they have. Legos are promoted to adult creators in a different way using the nostalgia of products like Star Wars and the attraction of complex creativity. Because most adults have control of their own money and don’t have limitations such as schoolwork these more difficult expensive builds can be promoted. Placement Legos are still manufactured in Denmark along with several other locations around the world and distributed to over 125 retail partners. They have online stores, in person stores and even their own amusement parks for consumers to enjoy. The use of movie franchises and other partnerships gets LEGO into all sorts of markets that can be globally appreciated. Price LEGO has mid to premium pricing with the target market being kids 3-15. Their aim is complexity at a reasonable cost and to target parents that want to promote development and success in their child. The sets range from $5-$700 depending on the size, difficulty, associated brand, and number of pieces. Value Proposition LEGO’s main value proposition is inspiring and developing the builders and creators of tomorrow. LEGO does have different value propositions for their different target markets. For children it is a product with endless possibilities of fun. For parents it’s an educational toy that can help their child develop and explore their creativity. And for the market of older kids and adult Lego builders they offer an emotional and nostalgic connection to the brand or it’s licensing partnerships that inspire them to want to keep creating and playing with legos. Value of the brand Legos values are straightforward. They offer a quality product of plastic blocks that promote imagination, creativity, learning, quality, fun, and caring to create the builders of tomorrow. Consumers feel accomplished with their finished product that they can continue to display or rebuild for as long as they would like. References Bhasin, H., & Fung, Y. S. (2019). Marketing Mix Of Lego - Lego Marketing Mix and 4 Ps of Lego. Retrieved from https://www.marketing91.com/marketing-mix- Lumen Learning (n.d.) Principles of Marketing. Retrieved from https://courses.lumenlearning.com The LEGO® Brand. (n.d.). Retrieved from https://www.lego.com/en-us/aboutus/lego-group/the-lego-brand
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