One of the great things about having kids is that it enables you to revisit your own childhood. One of the big surprises for me was to see how different the Lego of today is from that of my own youth.
A lot’s changed — not just the toy, but also kids, and the market in general. It makes a useful case study of continually evolving product-market fit. Lego has gone through a whole range of changes to make sure it’s still ahead in the toy game.
Over time Lego has experimented with several themes and sub-themes. Some fail, some succeed, but there is a constant refreshment of ideas. Perhaps the biggest advance came with licensed themes – Star Wars being the best known, and was introduced in 1999. This might be one area where perhaps Lego were behind the curve. Die-cast toys like Dinky and Corgi had been successfully producing TV tie-ins such as Thunderbirds and Batman since the 60s, so this avenue was well known in the industry. Our aim was to learn from their success as well as some of their failures.
In our latest Medium Series we explore Lessons from some of the best companies. Even in the very unique business world that we’re in today, there is still value in looking back at some of the most innovative companies. For the full case study read the blog, otherwise, continue onto our Medium Series.
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