Objective: The purpose of this paper was to examine the effect that nostalgia-oriented strategy has on the Millennials’ perception of the LEGO brand.
Methodology: The methodology was based on past research in the field and used a modified version of a questionnaire developed by Pascal et al. (2002).
Findings: The research was conducted among 203 young respondents in the second quarter of 2019. During the realization of research, the indirect method of gathering information, using a survey technique was applied. The survey was conducted with the application of the techniques of electronic survey. The research methodology was based on past research in the field and a modified version of a questionnaire developed by Pascal et al. (2002) was used.
Value Added: This paper is the first to have found that companies operating in the toy industry are using nostalgia with aim of sustaining the brand loyalty.
Recommendations: The toy industry has become pretty much an unfair place to do business these days, as the biggest toymakers are involved in a fierce fight for the next generations of kids enamoured with the latest high-tech wonders. This paper demonstrates how LEGO®’s efforts reaped dividends as they have begun to address Millennials. It can be said, then, that the future of marketing in the following months would involve nostalgia as a major tool accelerating all the strategic endeavours in this clash of brands as the trend described hereinafter does not seem to slow down.
| Jun 25, 2020