BU491 Lecture Notes - Lecture 4: Vacuum Cleaner, Balanced Scorecard, Bargaining Power
Document Summary
Goals: our ultimate purpose is to inspire and develop children to think creatively, reason systematically and release the potential to shape their own future experiencing the endless human possibility. Focusses mainly on children but also focusses on other ages. Generic strategy: differentiation: patented their products so that competition wouldn"t be able to imitate easily, relatively priced compared to their competitors (reason why it isn"t low-cost) Positioning: variety-based (product category, building blocks), as children develop and play differently from the 90s onward they are moving to needs based. Licensing, understand what licensing meant to lego. Competition high, people always coming in and out, so many different ways of entertainment people could choose from. Substitutes (high) there are many different substitutes (pretty much anything you do in your free time) books, movies, board games, video games etc. Threat of new entrants capital and economies or scale, outside of building toys could be a major threat.
