LEGO Case Study Case studies are an essential learning strategy in business clas
LEGO Case Study Case studies are an essential learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides in order to formulate a recommendation for the challenges faced by the company. For this unit, review the Marketing Spotlight: LEGO case study in Chapter 5 of your textbook. This assignment will be comprised of two parts; one part will ask you to respond to questions, and the other will require you to complete a case analysis. Part 1 Evaluate this case and respond to each of the following questions using both theory and practical managerial thinking. How does LEGO manage to constantly reinvent its business? What role did marketing research play in LEGO’s market success? What differentiates LEGO from its competitors? Is LEGO’s competitive advantage sustainable? 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. Follow APA Style when creating citations and references for this assignment. Note that you will 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 will look at the situational analysis, problem, and alternatives, and you will 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. Problem Identify at least one organizational problem that LEGO is currently having or one that you project it will 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 will not select all 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. Discuss your rationale for choosing these and not the others. Include supporting research that will increase the depth of your analysis. In order to successfully complete Part 2 of this case study, you need to review the video and task learning guides (TLGs) below. The following resources will provide you with the skills to research industries/competitors. Company and Industry Research video (transcript for Company and Industry Research video) How to Find Company Information in the Business Source Ultimate Database TLG How to Search for Articles With a Company Focus TLG Mergent Online: This database provides specific details and reports. For example, typing “Apple” into the company search bar will provide details about the specific company, such as the company location, contact information, industry affiliation, and basic financial market details. The tabs next to “Company Details” will give 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 will 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. The “Similar Industries” section can be used to identify potential competitors or substitutes. 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 NAIC code in the NAIC/Industry Code search bar or by choosing “Industry Profile” under publication type and typing a broad keyword into the main search box. You can search for specific company information by clicking on the “Company Information” tab at the top of the main screen. In the “Company Information” tab, you can search for specific information by specifying “Company Name” or “Ticker Symbol.” If you need help choosing a public U.S company to research, you can check the box that says “Public” under “U.S. Company Type.” This will provide a list of publicly traded companies in the United States. ABI/INFORM Collection: This database can be used to look for articles on specific companies as well as company and industry information. If you type in a company name, you can change the dropdown box that says “Anywhere” to “Company/organization – ORG.” You can add any keywords you want in the lower boxes and hit search. Part 2 must be at least four pages in length. Follow 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 will be submitted in one document. 1. Please utilize APA format when citing. (alphabetically used based on text and reference sheet) 2. The textbook has to be cited (marketing spotlight from textbook is attached) – youtube link: https://www.youtube.com/watch?v=HNYiCJ2fNzc 3. Part 2 is a minimum of 4 pages, please have the pages go into the 5th – not including the reference page – 6 total pages. 4. Submit with Turn-It-In reference for proof of no AI/Plagiarism detections.