Logo Mosaic case study
Throughout the course of Logo’s beginning stages, there were many ups and down that the company faced. A big setback happened for them In 2003 when they faced a financial crisis, which caused them $240 million. This was due to the introduction of computer games, which attracted a large selection of their customers, competing toy companies, and the difficulty of manufacturing economically. After this crisis, Logo was able to pick themselves back up and become innovators around technology, mass customization, and community to enhance and extend its customer reach.
To tart off their prosperity, they were awarded $178 million from the Coo’s family. This allowed much breathing space for which the company could make a turnaround. Logo workers knew that they had to rationalize and cut costs in areas like supply chain and factory location, rethink product development strategy, and learn new ways of working with users so that they could be part of the innovation as well, which began their user-linked approach. Users have always been involved in the concept of Logo, but after their crisis, they became the center focus.
Their earliest ideas in improving were based around digital design. Bulging digital models of all the bricks and components they created made it possible to explore a whole new field of options through computer design.
This ultimately aided the cost and time in manufacturing while opening up the market of customizable toys. The earliest product was named “Logo Mosaic” and allowed users to upload pictures to the Logo website. An Idea like this struck a chord in users’ brains and they were drawn to it. Users could design their own Ideas and have Logo be the service providers by making the Ideas come to life.
Due to this brilliant and Innovative Idea, customers have been a key role in Logo’s prosperity and business strategy. President of Logo Systems Sorer Tort Lauren said, “It’s only fitting as we celebrate 50 years of a classic play pattern in an increasingly electronic toy world that we elevate that experience of building what you imagine by blending the best of both the virtual and physical worlds of play.
” Later on In Its career, Logo Introduced an “open innovation” approach to product design after discovering that a number of users were hacking the software.
The point of this Innovation approach was that they did not try to restrict the hacking. It gave them an idea to further encourage exploration and creativity. They thought that controlling the hacking would limit that and contradicted everything they had wanted to put into practice. My opinion on this is that it is a smart idea, because usually those hacking the system have a thorough grasp of the Internet and are very knowledgeable. They are most technologically advanced and will be the ones coming out on top with Legs concept of having their customers help contribute to the business.
It also is a way to take advantage of getting full performance out of a computer. The downfalls with it however are that hacking is not a good way to operate your computer because it can take away applications or slow your computer down. That being said, overall in my opinion I think that the leaders at Logo had a good Idea in mind and were on the right track for getting back on their feet and attracting customers while having competitive advantage rater ten 2003 crawls. Another Log Ana Innovative Idea Logo Ana Drought into play was “storytelling. ” This came about around 1968 and used homegrown Tories and linked them into key film themes.
This was a great way for children to use their creative brains and imaginations to create their own storyline and setting with these new characters, or play with film characters that they liked. It attracted a wide range of customers and was definitely a step in the right direction in relation to marketing and product development. This was a huge innovation for their product line and became very popular to people of various ages. It was a way to make action figure toys more fun and adventurous, and helped build kids’ imaginations and brain activity.