
Competition watchdog in the UK warns of negative AI consequences
An increase in fake reviews and false information, as well as flouting of consumer protection laws, are all possible results of the AI boom.
ICONIC BRANDS
By our News Team | 2022
It was on this day in 1958 that the famous Lego plastic brick system was patented – and the brand was on its way to becoming world renowned.
As a marketer, you know your brand has truly become iconic when it can lay claim to having its own ‘international day’. Such is the case with toy company Lego, which today (Friday, 28 January), celebrates International Lego Day.
Brand enthusiasts (who often refer to themselves as ‘brick nerds’), chat groups, social media platforms and specialist toy websites have all been marking the occasion, which celebrates the day in 1958 when the modern plastic toy brick was first patented.
Prior to that, Lego had existed as a moderately successful Danish children’s toy brand founded in 1932 at the small carpentry workshop of Ole Kirk Christiansen. The name in Danish stands for ‘Leg Godt’ which means ‘play well’.
But it was only when the modern plastic brick design was perfected and patented, that the brand began achieving great international success. In 1978, for example, minifigures became an integral part of most Lego sets.
Photo courtesy of Brick Nerd
In May 2011, the brand achieved ‘great heights’ when the space shuttle Endeavor carried 13 Lego sets to the International Space Station, where astronauts built models together to see how the bricks would react in a micro-gravity environment.
In May 2013, a massive Lego model was assembled and displayed in New York. Made from more than 5-million bricks, it was a a 1:1 scale model of an X-wing fighter.
In February 2015, Lego replaced Ferrari as the most powerful brand in the world.
The Lego brand hit tough and troubled times
But is hasn’t all been plain sailing. By the early 2000s, the business was in deep trouble. Sales were down 30% year-on-year and debt was huge. By its own admission, Lego hadn’t added anything of value to its product portfolio in 10 years.
Children, its core customer base, didn’t like the brand much anymore.
After extensive soul-searching, management embarked on a major rebranding strategy. They added digital channels to engage kids and their parents and succeeded in re-establishing Lego as vibey and relevant once again.
The company added Lego-themed Hollywood blockbuster movies and Lego-themed entertainment venues. The approaches that had worked well before – such as linking products to popular big-name movies – were retained. The rest got the boot.
Suddenly, Lego was hip and fun. From 2008 to 2010 its profits quadrupled, outstripping that of Apple’s. By 2015 it had ousted Ferrari as to become the world’s most powerful brand.
Enjoy your International Lego Day!
An increase in fake reviews and false information, as well as flouting of consumer protection laws, are all possible results of the AI boom.
As tougher times bite, only 10% of CMOs believe their marketing investments will enable them to emerge better off than their competitors.
On-the-Go stores will extend the brand and be located on TotalEnergies service station forecourts to cater to motorists and busy consumers.
The social media platform’s ad revenue is up 25.8% year-on-year and is forecast to total US$71-billion for 2024.
Alliance offers a simple, fast and convenient experience for consumers to buy groceries online, with orders being delivered within an hour.
Consumer must feel that buying the product will somehow elevate them so that they sit more squarely alongside the influencer they follow.
What are the key things that people consider before buying online? Researchers find that the computer mouse holds important clues.
Bon Marché has typically confined itself to the affluent suburbs of Zimbabwe’s capital. Now it has opened in Marondera in Mashonaland East,
As rugby fans liken the SA national team’s alternative kit to the Checkers Sixty60 e-commerce platform, the brand seizes the opportunity.
Sports apparel company renews an old partnership with Newcastle United as it further cements its presence in top soccer competitions.
Interactive Advertising Bureau study finds internet advertising has reached a new high of 34% of the overall SA advertising market.
Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.
Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.
Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.