This article explained how hitherto after video games were introduced into the market, Legos suave stay free-enterprise(a) in the toy industry. Lego blocks first came into existence in 1958 after danish wooden-toy maker Ole Kirk Christiansen began experimenting with plastics. Since Lego has been a act for a few decades, their first round of consumers were kids growing up in the 50s and they seaportt let go of their childhood addiction. In a way to continue their growing prosperity Lego has teamed up with legion(predicate) middle-aged adults to keep their company afloat.
This article relates to economics shape by providing examples of how an old toy company stays belligerent even a workst the newest technology. An economic cin one casept I found enkindle in the article is how Lego has teamed up with middle-aged people to gain feedback on what they would like to see Lego sell and what would appeal about to Lego enthusiasts. This use of skillful questioning and advertising helped the company immensely and ultimately kept the company going even when its competitors evolved their real ideas.
With the popularity of Legos still present in consumers 20 years and older, thither has been an abundance of jobs associated with the company because Lego enthusiasts know what kids like to purchase because they were once a kid. Lego has also used the internet to keep consumers acquire their product. With interactive sites specifically made for Lego enthusiasts, it keeps the consumers engaged when it comes to the companys future plans and new installments.
After reading and reviewing this article, I wise to(p) a lot about how older companies stay competitive in the consumer market even though they are plagued with newer technology from other companies. I also learned that Legos are still consumed by adults that have been avid collectors since the companys opening move and that has helped their stability as a company.If you want to get a full essay, order it on our website: Ordercustompaper.com
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