The Subscription Prescription
Legos has just released a set of Legos for adults (1) and this is right up my alley. Many of you don't know this, but I originally came to Boston to become an architect,
I was waylaid by Boston University's School of Communication, and a much better graduate financial aid package.
So, my whole life I have always been interested in architecture and have often thought I'd like to design and build my own home.
So when I heard that Legos was making a more advanced Lego set for the more creative adult I was titillated and upset at the same time. "There goes another one," I said. Another great idea that I should have thought of. Hah!
All I can say is that I know I will be mindlessly playing with Legos again. I just applied for two marketing jobs with them and if I get called in for an interview I think I'll bring my home-to-be in with me to show them I actually use the product.
Recently, a new Lego company model was launched, it is called Pleygo. "What if there were a Netflix-like service for Legos, with monthly subscription fees, thousands of sets to choose from, and free shipping? Pleygo was launched in May." (2)
"The company says it has more than 7,000 users and that membership is doubling every month. Pleygo offers three monthly subscription rates, based on the size of sets customers want to rent: $15, $25, or $39. So it’s not cheap, but it’s cheaper than buying. The Star Wars Rogue Shadow, for example, goes for $179.99 on Amazon.com (AMZN)." (3)
It amazes me that the "subscription" or "rental" world has become such an amazingly popular and successful business model. I suppose the greatest subscription relationship (the library) has been very successful for the life of our country. And even that is changing too. I now borrow e-books from the library using my Kindle. My library system (C/W Mars) uses the OverDrive system, and it is extremely easy to use. It literally works like Netflix. You go in and look at the choice of books and pick them and then just wait for them to become available. Once they email you, you move the book over to your Kindle to read — when you are done, you release it back.
Amazon is also doing many things with their service offerings for those who have a Prime Account. Amazon Prime offers multiple shipping benefits, including FREE Two-Day Shipping for eligible purchases. Members also get access to Amazon Instant Video and the ability to borrow books from the Kindle Owners' Lending Library. If a book is "prime available" you can borrow it for free. You can't borrow another title until you give up the one you have.
I think that if you are thinking of a new business, you have to think like these examples: the subscription prescription.
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Bibliography
(1) http://shop.lego.com/en-US/Studio-21050
(2) http://www.businessweek.com/articles/2013-08-13/pleygos-near-perfect-pitch-its-like-netflix-for-lego
(3) Ibid
I was waylaid by Boston University's School of Communication, and a much better graduate financial aid package.So, my whole life I have always been interested in architecture and have often thought I'd like to design and build my own home.
So when I heard that Legos was making a more advanced Lego set for the more creative adult I was titillated and upset at the same time. "There goes another one," I said. Another great idea that I should have thought of. Hah!
All I can say is that I know I will be mindlessly playing with Legos again. I just applied for two marketing jobs with them and if I get called in for an interview I think I'll bring my home-to-be in with me to show them I actually use the product.Recently, a new Lego company model was launched, it is called Pleygo. "What if there were a Netflix-like service for Legos, with monthly subscription fees, thousands of sets to choose from, and free shipping? Pleygo was launched in May." (2)
"The company says it has more than 7,000 users and that membership is doubling every month. Pleygo offers three monthly subscription rates, based on the size of sets customers want to rent: $15, $25, or $39. So it’s not cheap, but it’s cheaper than buying. The Star Wars Rogue Shadow, for example, goes for $179.99 on Amazon.com (AMZN)." (3)
It amazes me that the "subscription" or "rental" world has become such an amazingly popular and successful business model. I suppose the greatest subscription relationship (the library) has been very successful for the life of our country. And even that is changing too. I now borrow e-books from the library using my Kindle. My library system (C/W Mars) uses the OverDrive system, and it is extremely easy to use. It literally works like Netflix. You go in and look at the choice of books and pick them and then just wait for them to become available. Once they email you, you move the book over to your Kindle to read — when you are done, you release it back.Amazon is also doing many things with their service offerings for those who have a Prime Account. Amazon Prime offers multiple shipping benefits, including FREE Two-Day Shipping for eligible purchases. Members also get access to Amazon Instant Video and the ability to borrow books from the Kindle Owners' Lending Library. If a book is "prime available" you can borrow it for free. You can't borrow another title until you give up the one you have.
I think that if you are thinking of a new business, you have to think like these examples: the subscription prescription.
_________________________________
Bibliography
(1) http://shop.lego.com/en-US/Studio-21050
(2) http://www.businessweek.com/articles/2013-08-13/pleygos-near-perfect-pitch-its-like-netflix-for-lego
(3) Ibid
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