Lg Cae Study

ISSUE DEFINED

To come up with a robust marketing plan to produce, distribute and sell the LG Watch Phone in Canada, a very completive portable electronic market. This is after a successful l launch of the same product in European markets. The goal will also encompass increasing market share in consumer electronics.

CASE DATA ANALYSIS

* No other company has introduced the watch phone to the Canadian market. This will affect pricing as although it is a new product, we would want to entice regular phone users to switch without a massive increase in cost

* The market is currently saturated with mobile phones with 3G capabilities, touch screen and MP3 players

* Portable electronics had the majority of growth in the consumer electronics market

* The product was designed to look and feel like a higher end timepiece

* Should a specific carrier be given exclusive rights?

* How should pricing be determined? Should we use skimming approach to try and recover the cost of introducing a new product

* How to advertise? Should we look at a niche market? Should we focus n the functionality or the novelty of a new device that not everyone would have?

* Large marketing budget available

ALTERNATIVES

1. Product

a) Because there are so many options to consumers, launching only one style of the watch phone would be wise especially since technology changes so rapidly

PRO – changing technology would allow for subsequent launches earlier.

CON – reach a smaller demographic as people have different tastes

b) Have a subsequent launch once there is recognition with multi styles and designs

PRO – create a feeling of anticipation

CON – potential customers could get anxious waiting for new product launches and go elsewhere

c) Introduce multiple styles, sizes, colors out of the gate to reach a larger demographic

PRO – meets the needs of many demographics

CON – more costly and sometimes too much to chose from leads to no decision at...