The Study of Nostalgia-Oriented Strategy Aimed at Millennials on The Example of The Lego Group

Lubiński Kamil ()
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Lubiński Kamil: Faculty of Management and Production Engineering, Lodz University of Technology, Lodz, Poland

Journal of Intercultural Management, 2020, vol. 12, issue 2, 82-105

Abstract: 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.

Keywords: LEGO; Nostalgia; Brand Management; Toys; Millennials (search for similar items in EconPapers)
JEL-codes: M31 M37 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:joinma:v:12:y:2020:i:2:p:82-105:n:4

DOI: 10.2478/joim-2020-0039

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