A Study On Glocalized Product Strategy Of LEGO Group

The rise of globalization wave has changed people’s consumption habits and also put forward higher requirements for product quality.The effective implementation of product strategy is crucial for multinational enterprises to gain market share.With the increasingly fierce competition,more and more enterprises begin to combine glocalization with product strategy.Product strategy is a general term that encompasses product portfolio strategy,product brand strategy,new product development strategy,product service strategy,product packaging strategy and so on,which is the fundamental business strategy.A high-quality product strategy can attract more consumers and thus achieve the profit goal.The LEGO Group has used its fantastic product operation methods to promote bricks to the world,achieving continuous revenue growth and establishing a large consumer base.Therefore,this thesis takes it as the research object,analyzes its product strategy and attempts to summarize its successful experience from the perspective of glocalization by using the literature analysis method,case analysis method and comparative research method.At the moment,the majority of research on the LEGO Group is on its brand strategy and marketing strategy.The purpose of this thesis is to examine the LEGO Group’s product strategy from the glocalized view.LEGO focused primarily on standardized product strategy at the early stage.Later,the globalization strategy was unable to meet the development needs of it due to the constant changes in the international market,and then the product strategy combining globalization and localization was implemented.First,this thesis analyzes the LEGO Group’s product strategy from globalized view:LEGO’s product line for the global market is basically consistent;LEGO integrates brand management into the company’s core operations and allows customers worldwide to take part in brand building;the company has established a R&D process and quality system,and it has strict quality requirements;All after-sales issues may be resolved by first-class service,and the unified official website offers customers exceptional convenience and high-quality service;LEGO has always focused on the contradiction between plastic materials and environment protection.Recently,it has made a commitment to developing sustainable packaging.Second,this thesis discusses the localized practice of its current product strategy:the company has launched various products for local markets in recent years;it implements multi-brand strategy,brands alliance and brand extension.The group differentiates its brand positioning;its service personnel are hired from local markets.Multilingual official website maximizes localization of service form;packaging style of brick is designed according to consumer preferences.Later,it is stated that LEGO’s product strategy has an impact on its other marketing strategies in the international market:the high-level product operation strategy also places higher demands on promotion,and brand positioning affects its place and pricing in different countries.Finally,this thesis attempts to provide advice on how to internationalize domestic toy by improving product quality,increasing investment in technology,improving service system,emphasizing brand characteristics,increasing interaction with foreign consumers,interacting with other culture and combining the globalization strategy with localization strategy.The goal is to assist China’s toy companies in improving product competitiveness and successfully entering international markets.The current product strategy of the LEGO Group has realized the combination of globalized view and localized practice,which has promoted its great success in the international market.Its bricks have also been loved by more consumers.This thesis analyze LEGO’s product strategy from the standpoint of glocalization,which has far-reaching implications.The thesis not only enriches the research on the LEGO Group,but also provides valuable experience for domestic toy enterprises developing glocalized product strategies.