Answered: What is LEGO's main business model? Can…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

What is LEGO's main business model? Can you think of other companies with a similar model?Can you list at least one example of a product company that has transformed into a media company or a media company that has transformed into a product company?What are some of the companies from both B2B and B2C that are doing similar things as LEGO? Note : I need the answer for the digital marketing perspective please give the details of it to get the upvote. Please dont attend if you dont know

Expert Solution

Step 1

The business model of any organization indicates the things or administrations that the organization means to sell, just as its objective market and any assessed costs. For both start-ups and existing firms, a plan of action is basic.

The business model helps new and developing organizations in drawing in the capital, enlisting ability, and inspiring administration and representatives. Set-up organizations should modify their business methodologies consistently, or they might pass up future patterns and issues.