Marketing strategy of lg company pdf. 335604584 2022-10-24
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LG is a multinational corporation based in South Korea that operates in a variety of industries including electronics, telecommunications, and home appliances. As a global brand, LG has implemented a number of marketing strategies over the years to promote its products and services to customers around the world.
One key element of LG's marketing strategy is its focus on innovation and technology. The company is known for introducing cutting-edge products that offer advanced features and functionality, such as its OLED TVs, which have gained a reputation for their exceptional picture quality and slim design. LG has also invested heavily in research and development, which allows it to continually introduce new and improved products to the market.
Another important aspect of LG's marketing strategy is its emphasis on building strong relationships with its customers. The company has a robust customer service department and offers a variety of support options, including online chat, email, and phone support, to ensure that customers can easily get the help they need. LG also runs promotions and contests that encourage customer engagement and build brand loyalty.
In addition to these core marketing strategies, LG also uses a variety of traditional and digital marketing channels to reach potential customers. These channels include television and radio advertisements, print and online advertising, and social media marketing. LG also works with influencers and sponsors events and activities to further promote its brand.
Overall, LG's marketing strategy is focused on showcasing the company's innovative products and building strong relationships with its customers. By investing in technology and research, offering excellent customer service, and using a variety of marketing channels, LG has established itself as a leader in the global market and continues to grow and expand its reach.
Marketing strategy of lg company pdf
This is an English translation from the original presentation in Japanese. It has several showrooms and retail market to increase its sales growth and it should impress the customer to buy the product. Find Out How UKEssays. The reason behind this is that people will directly relate to the products available to them. The company gained leadership in the direct-cool refrigerator segment with a significant share in the washing machine market. And it is only when all the members of an organization are aligned around a strategy and support it, for better or for worse that a company stands apart as a great and consistent executor.
From the survey, it is seen that LG is only able to somewhat satisfy their costumers from their products. It increase more products and services like, deploy LG online services for the network infrastructure. It is also carrying out the analysis of the strategies, which can have effect on corporate profile of the company. Singapore Inflation Rate, 2010. So the price of the product has increased. But LG, Sony and Samsung have penetrated into the industry for a long time and they have created economies of scale, product differentiation, strong familiar brands, that will make it difficult for new brands to enter the industry.
(PDF) BRAND ANALYSIS OF LG ELECTRONICS: A CASE STUDY
They focus on this because a satisfied customer is a loyal customer who will continue to buy the product from the same company hence increasing the company sales and revenue. LG is the market leader in various segments like colour TVs, microwave ovens, frost-free refrigerators, washing machines and air-conditioners, with market shares of 26. LG controls 114 local subsidiaries all over the world. Singapore has small inflation rate about 1% inflation rate. So the technology has concerned it should increase to implement in timely mannar. A STUDY ON MARKETING STRATEGY OF LG by Shweta Singh in LG Marketing Mix 4Ps Strategy MBA Skool-Study. Why at all a company like LG need a product strategy f or its operations.
It leads to cutting the prices of product and it become a more sales by the segement of low prices. LG Electronics import 42-inch PDP plasma TV from Korean and sell those into other countries. In addition, “fiscal 2013” or “FY 2013” refers to the year ending March 31, 2013. Here the study tells about the LG Electronics and its future plan in the competitive market. Strong Marketing Communication LG wants to deliver synchronized communication messages worldwide to elevate their profile and promote their brand identity.
Page 13 Oeconomics of Knowledge, Volume 5, Issue 2, Spring 2013 BRAND ANALYSIS OF LG ELECTRONICS: A CASE STUDY Syed Fida Hussain Shah, Assistant Professor COMSATS Institute of Information Technology, Abbottabad, Pakistan Tahira Nazir, Assistant Professor COMSATS Institute of Information Technology marketing is a strategy that should be used by any company who is limited on resources. Without this strategy it will not have much effectiveness and efficiency. Conclusion Introduction LG is an electronics multinational company in South Korea which deals with electronic goods. This is an English translation from the original presentation in Japanese. Data Analysis was performed next on the basis of the interviews and replies of the people through the prepared questionnaire. But post liberalization much foreign company have entered into Indian market dethroning the Indian player and dominating Indian market the major categories in the market CTV, REFRIGRATOR, AIR CONDTIONERS AND WASHING MACHINES. It has increased its profitability in hardware, software and networking system.
Strengths Now, let us have a look at the key performance indicators KPIs of the company. LG В LG is an electronic company that is big on research and development; just like Samsung. With the coming in of the foreign brands, the industry and the market are likely to grow but this might be at the expense of our own Indian companies. LG's main competitors in the market include: Samsung, Sony, Voltas, Philips, Panasonic,. It has come a long way. In this, the product line and depth of LG are major contributors.
People can use them any where such as gym, office, while travelling, etc. At present the retail market has developed and it increase its competitive advantage towards its customer. The LG must leads its competitor and fulfill their customer satisfaction. The way they place their products shows that they make sure that all the products are available to the customers. So it has changing life style of the LG user. LG gives tough competition to Samsung and other top brand companies due to its ability to have a complete chain of products. .
Strategic associations between companies existing in the same or related industry is a sign of prosperity and it can be a vital means of growth of the existing industry as well as forging new ones. The following presentation is about the marketing strategies used by LG to set up in India. This case study of LG electronics consists of the marketing mix, swot analysis, target audience, and digital presence. But over time, with the advent of e-commerce we find that the goods are sold through their website and also other e-commerce platforms as well. Mobile phones are very handy and easy to carry everywhere.
Berger, Senior Marketing Writer of The Wiglaf Journal, through his Northbrook-based firm, James T. All elements of marketing mix are important. A company is everyone from the top to the front lines. This makes LG a wide brand image of the product. It has introduced to the delighting product to the customer. Economic Analysis: LG has a very big competitive market in world and it have constant development in their innovation in electronics equipment , secondary products, planned process of LG etc.
