Lg Electronics

Content

Introduction

Profile

Introduction

The aim of this coursework is to provide the environmental analysis of the home appliances business in Uzbekistan. Analysis should be mainly focused on economic, legal, customer preferences, and marketing strategy of an organization.

Vision and strategic mission of LG Electronics

LG Electronics Inc. founded in 1958 and headquartered in Seoul, South Korea. The company is a major producer of consumer electronics and has over 70 subsidiaries that manufacture TVs, video and audio products, appliances, refrigerators, wireless phone handsets, air-conditioners, and communications devices. LG Electronics has annual revenue of about 23.8 trillion KRW and employs about 66,600 people.

LG Electronics’ mission is to be among the top five electronics brands in the Africa and the Middle East. This vision is simple and clear: venture into new markets and win the consumers by giving what they want. Capturing new markets and providing a strategic direction for allLG Electronics activities in the Middle East and Africa is the main target (Times of Oman, 2006).

On the other side, many promising markets like Algeria, Sudan, Angola and some others whose economic power is growing strong are being neglected.LG Electronics is focusing again to regain those markets. The company will use a new marketing strategy such as using power retailers instead of using traditional channels of marketing like using dealers. Traditional dealers are losing their power whereas the power retailers are gaining market share like Carrefour (Times of Oman, 2006). The company is looking to achieve a turnover...

Corporate vision is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions that are broad, all-inclusive and forward-thinking. It is the image that a business must have of its goals before...