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    5 views21 pages

    LG Electronics

    Uploaded by

    Bavatharani

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 21

    LG ELECTRONICS

    INTRODUCTION

    LG Electronics , a part of the LG Corporation, is a multinational


    electronics company headquartered in Seoul, South Korea .
    The company was originally established in 1958 as Gold Star producing
    household products.
    The LG group was a merger of two companies , Lucky and Goldstar , from
    which the abbreviation of LG was derived. The current Life’s Good is a
    backronym
    Slogans
    “LG , We put people first!” [1997 to 1999 ]
    “LG , Digitally Yours” [ 1999 to 2004 ]
    “LG , Life’s Good” [ 2004 to present ]
    HISTORY
    LG INDIA

    LG Electronics India pvt. Ltd , a wholly owned subsidiary of LG Electronics , South
    Korea was established in January 1997 .
    They start up manufacturing facility at Greater Noida , near New Delhi, in 1998 ,
    with an investment of Rs 500 crore.
    In 2004 , LGEIL also up its second green field manufacturing unit in Pune ,
    Maharashtra.
    They launched CTV , Washing machines and Refrigerator in 1997 and launched AC
    in 1998
    KEY PEOPLE

    FOUNDER MD CEO

    Koo In- hwoi Ki Wan Kim William Cho


    PRODUCT LINE
    MARKETING MIX
    PRODUCTS

    HOME ENTERTAINMENT AND


    TELEVISION
    APPLIANCES
     55 – inch OLED TV  Music systems
     65 – inch and 77 – inch OLED TV  Home theatre systems
     LG Smart TV  BLU Ray Players
     Plasma TV  DVD players
     Monitor screens
    CONTD….

    SMART DEVICES AND MOBILE


    HOME APPLIANCES
    PHONES
     Refrigerators  G3
     Dishwashers  G Flex
     Microwave ovens  G2
     Vacuum cleaners  Smart watches based on android
    wears
     Vacuum machines
     Water purifiers
     Air conditioners
    PRICING

     The pricing policy of LG consists of “ cost plus fixed markup” . It means the policy
    of pricing consists of the reasonable cost of the product and the profit.
     Every factor is thoroughly analysed and after evaluating its own costing and the
    market research the actual price of the product is determined
     The company has decided to follow a policy of price competitiveness for the rural
    areas , in order to reach out to the rural base in every nook and corner.it has
    decided to increase the volume and reduce the prices.
    POSITIONING

     LG’s merchandise is sold throughout the world,


    especially developed regions . There are numbers
    of LG retailers in big cities.
     LG sells its products in home appliance interlink
    retail enterprises
     The services of LG are available in more than 110
    countries of the world.
    PROMOTION

     The company has advertised on several


    channels like advertisements , magazines ,
    newspapers and the internet
     They choose famous celebrities of the
    country and in due course make them as their
    brand ambassadors and promotes its
    products through various sporting events
    being their sponsors.
     Visibility at the retail outlets.
    MARKETING STRATEGIES

     Launching new technologies in consumer electronics and home appliances


     LG was the first brand to enter cricket in a big way , by sponsoring the 1999 world
    cup and followed it up in 2003 as well.
     LG has differentiated its products using technology and health benefits.
     LG has adopted the regional distribution model in India . All the distributors works
    directly with the company
     Product localisation is a key strategy used by LG.
     LG was the first brand to introduce gaming in CTVs.
    LG Electronics in 1998
    developed a customised TV
    Click icon to add picture Sampoorna for the rural market

    SAMPOORNA – Rs 3000
    CINEPLUS – Rs 4900
    LG THINQ

     It’s a brand launched by LG electronics in


    2017 , featuring products that are equipped
    with voice control and Artificial intelligence
    in consumer electronics .. Especially in
    refrigerators and Air conditioners
    MAJOR COMPETITORS
    SWOT ANALYSIS
    STRENGTHS WEAKNESS
     Wide range of products to serve all  Samsung being its competitor
    categories. provides similar products
     Widest distribution network in the  Consumers compare LG with
    world Samsung its Korean rival not with
    other global companies
     Good after sales service offered
     Brand lacks influence in the segment
     Market leader in home appliances of early adopters.
     Focus on technology and quality
    OPPORTUNITIES THREATS
     Fast growth of home appliances  LG is always comparable with its close
    market. competitor Samsung in Korea and
    Worldwide
     Shifting to rural areas
     Price war with its competitors
     Sponsorships with sports teams
     Some cheap price products that
     Focus on R&D and innovation to might become an alternative in some
    attract new potential buyers and countries.
    retain existing customers

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