1. bookVolume 12 (2020): Issue 2 (June 2020)
Journal Details
License
Format
Journal
eISSN
2543-831X
First Published
25 Apr 2014
Publication timeframe
4 times per year
Languages
English
access type Open Access

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

Published Online: 25 Jun 2020
Volume & Issue: Volume 12 (2020) - Issue 2 (June 2020)
Page range: 82 - 105
Journal Details
License
Format
Journal
eISSN
2543-831X
First Published
25 Apr 2014
Publication timeframe
4 times per year
Languages
English
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

JEL Classification

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