Professional Documents
Culture Documents
S.Y.B.M.S
Roll No: 34
OBJECTIVE
To know the usage and attitude of consumers
towards LG products.
To understands the nature of competition facing the
consumer durables market.
To study LGs marketing strategies.
To analyse the 4 Ps of marketing with respect of LG.
To know peoples perception about the brand which
impacts satisfaction.
To study LGs foray into rural India.
To analyse LG with respect to STP.
To study LGs branding strategies.
VISION
GLOBAL TOP 3 BY 2010
LG Electronics is pursuing its 21st century vision of becoming a
true global digital leader who can make its customers happy
worldwide through its innovative digital products and services.
LG Electronics has set its mid-term and long-term vision anew to
rank among the top 3 electronics, information, and
telecommunication firms in the world by 2010.
As such, we embrace the philosophy of "Great Company, Great
People," whereby only great people can create a great company,
and pursue two growth strategies involving "fast innovation" and
"fast growth." Likewise, we seek to secure three core capabilities:
product leadership, market leadership, and people-centered
leadership.
MISSION
A market like ours comprises both mass and premium-
MASS MARKET
RURAL MARKET
The rural market IS going to be the main focus at LG. So,
for that, they are opening many more branches across the
country. In September 2002, we had only 18 branches;
now they have 40. Additionally, they have 112 area
offices, none of which were there last year. These area
offices have been opened 10 district-level areas. Below
these area offices, they have remote area offices, which
we call RAOs. Currently, they have 80 RAOs. and are
planning to expand that to 200 by next year, so that they
can reach out to the rural market un a better way and feel
the pulse of consumers and dealers there.
GROWTH STRATEGY
Growth Strategy
Fast Growth
Fast growth is the result of strategies designed
to expand the market size and earnings quickly,
in the process improving the growth rate in
terms of monetary value rather than quantity.
Fast Innovation
Fast innovation involves setting extremely high
innovation goals and securing a competitive
edge, aiming for a target of 30% more than
what our competitors can do. Fast innovation
also means 30% more sales and improvement
in our market share, new product development
and unveiling these 30% faster, developing
technology and establishing corporate value
three years ahead of our competitors.
COMMUNICATION
STRATEGIES
COMMUNICATION THROUGH HEALTH PLATFORM
LG was one of the first companies in the industry to
realize this need of the consumers and. leverage it.
The brand has been successful in creating a
connection with the consumers for being the pioneer
in this communication. Examples are many: 'Golden
Eye' for its televisions, 'Preserve Nutrition' for
refrigerators, 'Fabricare' for washing machines et
cetera. While other consumer durables brands have
also begun using the health platform, they have the
benefit of the first mover advantage.
ADVERTISING
STRATEGIES
SWOT ANALYSIS
SWOT is the tool to see that where
organization stands, which areas required
improvement, which areas required serious
consideration, which would be the source of
growth, which things need avoidance and so
on. The SWOT of LG will help to understand
the position of LG in the market.
STRENGTHS
LG is a multinational company and a recognized brand
WEAKNESSES
The big weakness of LG is that it has very few
OPPORTUNITIES
The electronic market is expanding rapidly which is
THREATS
As the competitors of LG are more dominant in the
CONCLUSION
Relentless Aggression
Leadership in ad spends
LG
Appropriate Pricing