One reason that Lego nearly went bankrupt was because they lost sight of who their target audience was. 3. They Got to Really Know Their Audience Find a way to stay relevant, while still remaining true to your brand identity and purpose. By breaking into the toys-to-life market (or video games where physical action figures interact with those on screen), Lego was able to stay relevant, while still remaining true to itself and its purpose. With everything going digital, Lego had to find a way to adapt. As your brand grows, don’t stray from what made it successful in the first place. He reduced the number of different pieces that Lego manufactured from 12,900 to 7,000. He insisted that Lego must go “ back to the brick” and focus on its core products.
In 2001, Jorgen Vig Knudstorp, a former management consultant at McKinsey & Company, came on board and took over as CEO of Lego. Before their near-demise, the brand began creating many different products, some of which were successful, but many of which were not what their core audience was interested in. 1. They Regained Their Focusīelieve it or not, there is such a thing as too much innovation-and Lego is proof of that. So how exactly did Lego succeed in making one of the biggest brand comebacks of all time? There are three things that they did well… really well. Just over a decade later, in 2015, Lego had miraculously become the world’s most powerful brand, boasting profits of $600 million. Sales were down and the future was looking pretty bleak for the Danish toy company. You also get a dinosaur tooth and egg, chicken leg, and Owen's backpack.In 2003, Lego was $800 million in debt. Like all other sets released under this product line, set number 75928 has a wealth of impressive features including a working stud shooter, rotating blades, and a quad bike to allow Wheatley to make a quick escape. It has 397 pieces, and includes minifigures of Owen, and Wheatley, plus a pilot and a Velociraptor Blue figure. All these elements make for a great building experience, and encourage endless hours of play.īlue's Helicopter Pursuit set is part of the LEGO Jurassic World theme. The building sets released under this toy line highlight the impressive imagery, dinosaurs, and vehicles seen in the Jurassic Park series.
Every LEGO Jurassic World set features a combination of minifigures, accessories, and functional elements that transport you to Isla Nublar among the gnashing of the raptors. The theme, which is based on the Jurassic Park franchise, aims to bring the excitement and action of the film closer to Jurassic World fans around the globe. Jurassic World is a theme introduced by LEGO in conjunction with the release of the Jurassic World movie in 2015.
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