Research Paper on:
Lego

Unformatted Sample Text from the Research Paper:
children and their parents. However, Lego, as with any other product, there is a life cycle, and once a product goes through the life cycle there will be increased competition,  and at maturity the sales will decline in the product lifecycle is not renewed (Kotler, 2003). There are some products that have managed to remain constant and are an  enigma to the life cycles such as Mars. Lego had assumed that they were immune to these commercial pressures, misjudged the environment as well as the increased threat from competition,  as well as did not notice how their target market was changing. This was not aided by the company culture of the family owned firm, which remained secretive. 1998 saw  the first year were the company went into loss (Murray-West, 2003), 2003 was the third year the company made a loss, once which not expected until late in the year  (Maccarthy, 2004). To assess the position of the company and how it may resole this situation it is possible to conduct a SWOT analysis in order to identify the  strengths, weaknesses, opportunities and threats. Strengths of this company are wide ranging. The brand name has many association, including the association with quality and construction. The name has a  wide level of recognition and as such part of the marketing process. There are also some good new innovations, as seen with the Bionicle range aimed at more technically aware  boys. This has been a good seller, with up to 20 cans of Bionicle goods being sold every minuet in North America (Business Wire, 2003). KB Toys rates this among  their top twenty toys (Business Wire, 2003). The company also appear to be aware of their current situation. The weaknesses are also very dangerous. In relevant years the need