Reference no: EM133360594
One of the organizational problems that LEGO is currently having is the challenge of staying relevant in the digital age. With the rise of digital gaming and the increased prevalence of online outlets that offer a wide variety of entertainment, LEGO is facing the challenge of staying competitive in a rapidly changing market. As children are spending more and more time in front of screens, LEGO has had to find innovative ways to capture their attention and keep them engaged with their product. This is a challenge that many traditional toy manufacturers face, and it is one that LEGO has been working hard to overcome.
In order to combat this problem, LEGO has implemented a design-thinking approach to product innovation. This approach involves a deep understanding of the customer's desires and behavior and the ability to create new products that cater to those desires. LEGO has used this approach to create new product lines such as LEGO Friends, which is aimed at capturing the attention of female consumers and introducing girls to the LEGO brand. Additionally, the company has implemented the Future Lab, a secretive R&D team responsible for creating some of the company's most innovative and successful toy lines.
Another problem that LEGO is currently facing is the challenge of managing inventory. As the company has shifted to more complex and unique sets, it has become increasingly difficult to manage inventory. This has led to major retailers having large portions of their inventory unsold, even during peak seasons. To combat this problem, LEGO has implemented a more research-based approach to product releases. By understanding their customers' desires and behavior, LEGO is able to reduce complexity in production and ensure the success of their product releases.
In the future, LEGO may face the challenge of creating and releasing products that appeal to a wider range of consumers. As the digital age continues to evolve, it is likely that LEGO will have to find new ways to reach out to different age groups and demographics. LEGO has already begun to address this issue by creating new product lines such as LEGO Architecture and LEGO Fusion, which cater to different age groups and interests. However, this may only be a short-term solution, and LEGO will have to continue to innovate and create new products that can compete in a rapidly changing market.
Overall, LEGO is currently facing a number of organizational problems, from staying relevant in the digital age to managing inventory. However, the company is working hard to address these issues and create innovative products that can cater to a wider range of customers. By continuing to utilize a design-thinking approach to innovation, LEGO can ensure that it stays at the top of the toy industry and continues to remain a strong brand across all industries.
By understanding their customers' desires and behavior, LEGO can create innovative and successful products that keep customers engaged and interested. Additionally, the company must continue to manage its inventory in a way that ensures success and reduces complexity in production. With the right strategies and innovative products, LEGO can remain at the top of the industry and continue to inspire and engage customers around the world.
QUESTIONS
1. Compile three or four potential marketing-related solutions to the problem above. Remember that these are potential alternatives; you will not select all of the alternatives to solve the problem.
2. Select one or two of the alternatives above to solve the problem that you identified in this case analysis.
3. Discuss your rationale for choosing these and not the others. Include supporting research that will increase the depth of your analysis.