The Marketing Planning Process Essay Example | Topics and Well Written Essays - 5000 words

The Marketing Planning Process - Essay Example Brick game developed by Lego is an ideal example of healthy toy that leads to develop creativity of children. However, this game is at its declining stage due to decreasing popularity among the emerging consumers. The word ‘Lego’ is a Danish word that means ‘play well’. The company was founded by the Ole Kirk Kristiansen who was also the inventor of world famous brick game. Since last 80 years, the company is operating and it has expanded its business in entire Europe, USA and some countries of Asia-Pacific region (Lego-b, 2010). Primarily, the company has developed its four objectives to meet its overall corporate objectives. These are â€Å"play promise – joy of building pride of creation†, â€Å"people promise – succeed together†, â€Å"partner promise – mutual value creation† and â€Å"planet promise – positive impact† (Lego-c, 2009). The progress report of the company distinctly describes specific areas of objectives. However, consumer satisfaction and safety is the first priority for the company and it is able to meet higher level of consumer satisfaction that makes it world’s fifth largest toy manu facturing company (Lego-d, 2010). Michael Porter developed the concept of value chain that includes entire activities of a business for improving firm’s overall value. â€Å"He referred to the internal chain of work process that deliver value to the immediate customer of the company, whereas the deliver value to the end customer was termed value system† (Andersen, Fagerhaug and Onsoyen, 2008, p.39). The following figure shows a model of value chain that is fit for toy manufacturing business of Lego. Lego has developed its entire value chain to meet its long-run and short-run objectives. Lego has developed its new â€Å"radical value chain management framework† (Valcon, n.d.). For manufacturing high quality and innovative games, the company has set up its plants in Denmark, Czech Republic, Mexico and Hungary. Many products and