Case Study Of Lego's Business Strategy

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Consumers who actually use the product or services are the end consumers although they do not purchase the products or services. Lego adopted new strategy in order to satisfy their retailing partners who are also customer of Lego. Myer, one of the retail partners of Lego said, they had an advantage in terms of gaining money than before when Lego adopt new strategy. As a consequence of implementing the new strategy, customers rated Lego as a “best in class” supplier and Lego won a European supply chain excellence award.
In order to make these customers satisfy, Lego strategy has to be based on satisfying customers’ needs. Abraham Maslow introduced a Theory of Human Motivation in 1943. There are five human needs under the model and ranked in a hierarchy; (1) Physiological, (2) Safety, (3) Love and Belongingness, (4) Esteem, and (5) Self actualization.
In order to become a market leader in industry, firms need to be competitive and need a lot of investment such as expanding market strategies, cost, and marketing plan (Bhasin 2012). Therefore, firms who are not market leaders are trying to follow or copy what the market leaders do in the industry. One or two of these firms could be close competitor of the market leader and they can be termed as runner-up firms or market follower. In today’s business world, there are some firms who follow the market leaders and become no 1 firm in their own industry. For example, Canon and Toyota (Krishnan and Uday 2012)
When business produces

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