Lg Case Stury

Long Cycle Analysis – LG case study

A. Defining the Issues: LG was a leader in electronic products for personal use. 2008 was it’s 50th anniversary and the company set out to change it’s image to a more prominent, growth oriented global player. LG hired a new marketing officer, Dermot Boden, the first non-Korean C-level executive in the history of the company. By 2009/ early 2010 they were seeing definite growth in market related to increasing popularity of product miniaturization and technological convergence.. New global brand identity :”stylish design and smart technology in products that fit our consumers lives”. In 2004 the company adopted the slogan : “life’s good” and they really needed to demonstrate this to the consumer with some highly innovative products. Watch phone introduced at CES show generated a lot of media attention. The time was right but the question was how to introduce.? Many decisions needed to be made which could make or break the success of the launch and future product longevity. It was clear that LG needed to prepare a marketing plan for the new watch phone!

B. Analyzing Case Data:

• Portable consumer electronics market growth is high – was not adversely affected by recession

• Watch phone was well received at key Consumer Electronic Show – will be the first available on the market which will position LG as a leader

• Which carrier to choose: one or many. Rogers communication could be a sole source for LG as they are also a market leader and their technology clearly fits

• Price for market penetration or profit – many products available on the market

• Identify a target market – Gen Y, Gen X, Baby Boomers

• how to market, functionality or fun?

• Promotional medium – joint marketing with carriers or ‘guerilla’ marketing strategies

•

Opportunities and Constraints:

• LG is a clearly a technology company with good reputation.

• Large marketing budget –...