LG\'s marketing strategy PDF

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LG's marketing strategy...

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LG's marketing strategy Introduction LG is the 811 ranked brand in the list of global companies (2017) and ranked 65th in the list of the world's strongest brands (2012) voted by Forbes magazine. Join MarketingAI to learn LG's Marketing Strategy to make it as successful as it is today. About LG LG Electronics is a Korean multinational company specializing in electronic goods business. The company is headquartered in Seoul and was founded in 1958 for the purpose of rebuilding the country with domestic consumer goods. From a national company to an international company, LG has come a long way. Currently LG Electronics has become the second largest TV producer in the world. LG's main competitors in the market include: Samsung, Sony, Voltas, Philips, Panasonic, ... Customer analysis in LG's marketing strategy In LG's marketing strategy, its target customers are consumers as well as large corporations, which meet market demands. For retail consumers, LG targets customers in the age group of 30-50 years of age who have demand for home appliances and home entertainment, belonging to the middle / high income group. With mobile products, LG aims to serve young customers, from all income groups by offering different product prices for each type of product. For corporate, corporate customers, LG provides appropriate solutions in business segments such as vehicle components, security systems, entertainment information, etc. Products in LG's marketing strategy In LG's Marketing strategy, the company provides technology products in various electronic industries such as car components, mobile devices, consumer goods and home appliances. The company had the distinction of being the first to build a CDMA mobile digital handset and was the first to develop a 60-inch plasma TV. LG Electronics is also the world's largest manufacturer of LCD monitors. In 2010, the company took the first steps in the smartphone industry. LG products include: Household appliances: TV, refrigerator, dishwasher, microwave oven, vacuum cleaner, washing machine, water purifier, air conditioner, ... Smart devices and mobile phones, tablets: G Flex, G2, ...

Home entertainment equipment: Music system, home theater system, DVD player, ... Computer products: computer screens LG's Marketing Strategy brings fierce competition power thanks to its ability to have a complete product chain. Therefore, in LG's marketing mix strategy, the product is the leading advantage of the brand. Distribution strategy in LG's marketing strategy LG products in the electronics industry and equipment are available in the market through local distributors and national distributors. LG products are available at all centers and supermarkets. The company has showrooms that provide all services to its customers. LG's exclusive showrooms are known to be the most profitable place for retailers. Online shopping for LG products is also invested with shopping websites and other ecommerce platforms. LG serves the global market with 5 business units in nearly 110 locations. LG's goal is to grow rapidly with the goal of globalization. Pricing strategy in LG's marketing strategy LG Company aims to target many customer segments. Therefore, they have a variety of products suitable for the needs of the people. Pricing for LG products is priced from low to high-end. For mobile phones, there are low-priced products and these LG phones then have low features. The refrigerators also have different prices, the various features of the refrigerator also determine the price they charge. LG sets price strategies with a variety of prices and prices are priced according to customers' features and needs. Promotion sale in LG's Marketing strategy In its branding strategy, LG has focused on creating a strong and different brand identity. LG has positioned itself as a smart and customer-friendly brand ... Therefore, it has a brand slogan of Life’s Good and LG's name is also an acronym for this word. The brand identifies itself as a smart brand, believing in bringing surprisingly interesting things to customers. Life's Good's slogan is also shown in its logo as a red circle with the letters L and G recorded in it, besides the LG Logo is designed to incorporate a smiley face that brings a close for customers. Promotion promotion strategy in LG's marketing mix strategy focuses on investing in advertising. The company advertises its products through a number of channels including traditional and digital channels. The channels include print channels, online, on television and outdoor, websites and micro sites dedicated to the regional market through which

their Brand Marketing. In addition, LG also uses social media for advertising and marketing.

In the recent period, the brand has also witnessed stronger growth based on innovation. Most of LG's new products are marketed through online videos. The brand has posted over 500 YouTube videos of LG products from V20 to G5, Xseries and some other models highlighted on YouTube. LG also uses Twitter and Facebook to advertise and strengthen its customer connections. Particularly fanpage LG Vietnam has more than 1.2 million followers. To maintain its brand image, LG has always invested in marketing marketing with celebrities from the entertainment and sports sectors. For example, in China, Kim TaeHee - a famous actor is LG's brand ambassador. In the Indian market, Akshay Kumar - a famous Bollywood actor is LG's advertising model. In Vietnam, catching the trend of U23 fever quickly, LG is one of the first brands to advertise with the participation of player Quang Hai - the outstanding striker of Vietnam Team. LG also promotes their products through various sporting events by becoming a sponsor of the team or tournament. LG became the first brand to sponsor the World cricket tournament in 1999 and 2003. LG also sponsored the ICC Prize and Formula One for five years from 2009-2013....