Assignment - The Lego Case
Read the information provided about the Lego Case in the three documents provided at these links.
https://www.managing-innovation.com/case_studies/Lego.pdf
https://hbswk.hbs.edu/item/7170.html
https://pedroantaoalves.files.wordpress.com/2013/04/strategicmanageme nt_lego_10dec12.pdf
Format
This assignment is to be submitted as an individual assignment in report format and submitted through the EASE portal by the due date.
It is highly unlikely that extensions will be granted for this assessment task due to the timing of the due date at the conclusion of the semester. Extensions will only be considered for medical reasons and emergency situations where appropriate documentation can be provided. Extensions are unlikely to be granted for reasons of poor time management.
The task
Your task is to read and consider the information provided in the case documents. Based on your studies so far in the course you are required to audit the actions and strategies of Lego from a marketing perspective and provide specific advice and commentary to Lego for their future direction in the areas noted below.
1. Building Strong Brands:
1. How has Lego valued and managed its brand equity?
2. Conduct a brief competitive analysis for Lego, what can this tell you about their brand positioning and what advice would you offer to improve or strengthen where you currently seem the positioned?
2. Shaping the Market Offerings:
a. What are your thoughts about Lego's current pricing strategy and what price adaptations should they consider in their marketing strategies moving forward and what would you advise their primary pricing objective to be? Explain and defend your reasoning.
3. Delivering Value:
a. How would you advise Lego in relation to their distribution strategy for their products and what market-logistics issues should Lego consider and what would you advise in relation to their channel levels and intermediaries
4. Communicating Value:
1. How could Lego use and capitalise on word-of-mouth communications, customer driven and viral marketing techniques;
2. How might Lego use concepts such as co-creation to increase its market share and relevance to its customers?
3. What forms of interactive marketing would be most appropriate for Lego given its objectives and channel decisions?
4. How can Lego drive customer-focused marketing and strategic innovation throughout their organisation?
5. Creating Successful long-term growth:
1. What role should social responsibility play, if at all, in Lego's marketing strategy moving forward?
2. How should Lego evaluate its marketing efforts to date and for the future? Suggest several specific steps they should take and defend these suggestions with appropriate theory?
Marking Guide Assignment 2.
Question 1. (20 marks) Building strong brands
- Commentary on how Lego has valued and managed its brand equity.
- Provision of a brief competitive analysis for Lego .
- Commentary and advice on brand positioning for Lego including advice on how to improve or strengthen their current position.
- Use of appropriate and relevant theory to support and justify recommendations and discussions.
Question 2. (20 marks) Shaping the market offerings:
- Commentary about Legos current pricing strategy.
- Advice about any price adaptions that should be considered.
- Advice regarding the primary pricing objective to be for Lego for the future.
- Use of appropriate and relevant theory to support and justify recommendations and discussions.
Question 3. (15 marks) Delivering value:
- Advice provided in relation an appropriate distribution strategy for Lego
- Consideration given as to the market- logistics issues that Lego needs to consider
in adopting this strategy.
- Advice provided about channel levels and intermediaries
Use of appropriate and relevant theory to support and to justify recommendations and discussion.
Question 4 - Communicating Value:
•Advice provided about how Lego could use and capitalise on word-of-mouth communications, customer driven and viral marketing techniques.
•Advice provided about how Lego could use concepts such as co-creation to increase its market share and relevance to its customers.
•Commentary about the various forms of interactive marketing that would be most appropriate for Lego given its objectives and channel decisions.
•Recommendations about how Lego can drive customer-focused marketing and strategic innovation throughout their organisation
Question 5 -
Creating Successful long-term growth:
•Advice provided about the role of corporate social responsibility in Lego's marketing strategy moving forward.
•Specific recommendations provided about how Lego can evaluate its marketing efforts to date and for the future that includes an implementation plan.
•Use of appropriate and relevant theory to support and to justify recommendations and discussion.
- Format and creativity -
•Presentation showed creativity, originality and an understanding of the theoretical elements of marketing strategy.
•Submission was technically correct in that the grammar, English expression, language, style and all components were present and appropriate for the audience.
•Referencing style (Harvard citation style) was correct and theory was appropriately and correctly cited.