Licensing and Media Tie-Ins Saved LEGO
LEGO struggled from 1998 to 2004, nearing bankruptcy, but licensing and media tie-ins helped revitalize the company and the LEGO brand name.
Marketing
Marketing is a style of communication intended to sell a product, service, or ideology to a consumer. Marketing tools include video, print, and audio, and usually incorporates psychological and social science theories to achieve its goals.
Star Wars Toys Popularized Collectible Action Figures
In 1977 Kenner’s Star Wars toys popularized collectible action figures helping to create a second business for Hollywood and a cult following for Star Wars.
Perceived Value Can Matter More Than Actual Value
The amount of social, economic, or other value we perceive a person, place, or thing to have affects our perception of it (often more than actual value).