Lego SWOT Analysis
Lego is one of the leading brands in the media & entertainment sector. Lego SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Lego:
Quick Glance:
Lego Strengths
- Lego incorporates educational features to develop key skills in young children
- Lego has a strong brand name across the world in over 50 countries
- The company has a wide range of toys which are multi colored interlocking blocks made of plastic
- The company uses high quality products to ensure the safety of the children who use these toys
- Lego encourages goal oriented play and problem solving among little kids which enhances their brain activity
- Legoland theme parks are extremely popular tourist destinations and offer a variety of rides and entertainment
- The brand has also diversified into video games, TV and movies, merchandise etc.
- Lego has a top of the mind brand recall owing to TVCs and extensive advertising via online channels, social media etc.
- The company has a strong legacy since it was formed in 1949
- The brand has also opened more than 100 stores across 20 countries
Above are the strengths in the SWOT Analysis of Lego. The strengths of Lego looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Lego Weaknesses
- Imitation of products and brand name is a concern for Lego
- Intense competition means high brand switching and also loss of market share to online games
These were the weaknesses in the Lego SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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Lego Opportunities
- Organize competitions in schools for children so that kids have a strong affinity towards the game
- The company can diversify into other segments so that the brand can continue to grow
- More branding exercises to reach out to newer segments is an exercise which Lego can use to grow
Above we covered the opportunities in Lego SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Lego Threats
- Changing preferences of children and their parents towards physical toys as compared to online learning tools
- Increasing competition can impact the business operations of Lego
- Fluctuating currencies can affect the business of the brand globally
The threats in the SWOT Analysis of Lego are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the Lego SWOT analysis.
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About Lego
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Lego Overview | |
|---|---|
| Parent Company |
The Lego Group |
| Category |
Toy Brands and Manufacturers |
| Sector | |
| Tagline/ Slogan |
Its what you make it |
| USP |
Construction toys for children |
| Lego STP | |
| Segmentation |
Construction and building block toys for children |
| Target Market |
Ages 3-15 of middle and upper class |
| Positioning |
It can be made into anything possible |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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