LEGO Case Study

LEGO Case Study Case studies are an essential learning strategy in business classes as they provide an opportunity for you to criticaly analyze events that have taken place in real-life businesses. This develops your critical thinking and research skils as you research the competition and industry in which your business resides in order to formulate a recommendation for the chalenges faced by the company. For this unit, review the Marketing Spotlight: LEGO case study in Chapter 5 of your textbook. This assignment wil be comprised of two parts; one part wil ask you to respond to questions, and the other wil require you to complete a case analysis. Part 1 Evaluate this case and respond to each of the folowing questions using both theory and practical managerial thinking. How does LEGO manage to constantly reinvent its business? What role did marketing research play in LEGOs market success? What differentiates LEGO from its competitors? Is LEGOs competitive advantage sustainable? Analyze how the company has built a strong customer relationship with their target market. Review any potential ethical implications with LEGO. How are they aligning with good ethical practices? Your Part 1 response must be at least two pages in length. Folow APA Style when creating citations and references for this assignment. Note that you wil submit Part 1 and Part 2 in one document. Part 2 Complete a case analysis of LEGO. This requires that you conduct research on LEGO beyond the case study material in the textbook. In the case analysis, you wil look at the situational analysis, problem, and alternatives, and you wil provide a recommendation. Refer to the instructions below as you construct your analysis. Situational Analysis Discuss the external environment through the compilation of a PEST (political, economic, sociocultural, and technology) analysis. Discuss the internal and external environment through the compilation of a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Determine the next steps for a business after evaluating the current market position within an industry. Examine how data analytics support global marketing strategies. Problem Identify at least one organizational problem that LEGO is currently having or one that you project it wil have in the future. Base this on your research and critical thinking. Alternatives Compile three or four potential marketing-related solutions to the problem above. Remember that these are potential alternatives; you wil not select al of the alternatives to solve the problem. Recommendation (Marketing Strategy) Select one or two of the alternatives above to solve the problem that you identified in this case analysis and determine marketing strategy solutions for a company. Discuss your rationale for choosing these and not the others. Include supporting research that wil increase the depth of your analysis and determine marketing strategy solutions for a company. In order to successfuly complete Part 2 of this case study, you need to review the video and task learning guides (TLGs) below. The folowing resources wil provide you with the skils to research industries/competitors. How to Use Business Insights How to Use Mergent Market Atlas How to Find Company Information in Library Databases TLG Business Insights: This database provides extensive information on companies, industries, and countries worldwide. In addition to country data, market research reports, SWOT analyses, and other types of business research and analysis, the database includes case studies and additional articles from peer-reviewed scholarly journals. Mergent Market Atlas: This database provides specific company details and reports for publicly traded companies. For example, typing “Apple” into the company search bar wil provide details about the specific company, such as the company location, contact information, industry affiliation, and basic financial market details. Use the tabs across the top of the page for further information. IBISWorld: This database is another great resource for company and industry information. Typing in a company name or keyword related to the industry you would like to explore wil bring up a list of industry reports and information related to the search term. This database’s primary focus is on the industry at large rather than the individual company, though some information about industry-related companies is included. Business Source Ultimate: This is one of our bigger databases. This main screen can be used for industry research. You can search for an industry using the NAICS/Industry Code box near the bottom of the page. You can search for specific company information by entering a company name in the Company/Entity box near the bottom of the page, where you wil also find an option to search using the Ticker Symbol box. ABI/INFORM Colection: This database can be used to look for articles on specific companies as wel as company and industry information. If you type in a company name, you can change the dropdown box that says “Anywhere” to “Company/organization COMPANY.” You can add any keywords you want in the other boxes to narrow your search. Part 2 must be at least four pages in length. Folow APA Style when creating citations and references for this assignment. Support Part 2 with at least three sources outside of the textbook. As aforementioned, keep in mind that Part 1 and Part 2 wil be submitted in one document.