Marketing Mix Analysis: LG Curved OLED Smart TV Firm and Product Overview LG Electronics, founded in 1958, is a Korean multinational corporation that produces a variety of personal and household electronic goods. In particular, LG established itself in Australia in 1997 and continues to offer “a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions.” LG sells high involvement products nationwide, but is more concentrated in metropolitan areas to cater to an environment that embraces luxury technological products. More specifically, one of LG’s more recent products, the Curved OLED Cinema 3D Smart TV (product 55EA9800), targets the high socio-economic members of society who live a luxury lifestyle and are seeking a flamboyant viewing experience. The acronym OLED, which stands for “organic light-emitting diode”, is essentially powered by excitation of electrons in fluorescent compounds on organic surfaces (i.e. OLED technology) (Tsujimura, T. (2012). OLED display: Fundamentals and applications. Hoboken, N.J: Wiley.). The overall market for the OLED Smart TV is not limited to brand loyalists. In summary, the OLED Smart TV will most likely target city-dwellers who earn approximately $90,000 or greater per year, watch television on a regular basis and are looking for an enhanced, flashy entertainment experience. Product The OLED Smart TV satisfies customers who are looking for a television that provides a high-end, dynamic viewing experience. This product particularly appeals to early adapters of innovative and creative electronics, due to the fact that the OLED Smart TV is attributed with several ground-breaking features. Am... ... middle of paper ... ...y being manufactured, the features of these goods, provide contact details for customer support and handle public relations, rather than actively advertising their products. Promotion As the concept of a curved television that is powered by OLED technology is relatively new to the average consumer, most customers are currently either in the “awareness” or “knowledge” stage of buyer-readiness. Therefore, the producer must first inform the consumer the benefits of a television that functions on organic LEDs and proceed to persuade the consumer to believe that the value this technology brings to the customer is superior to the available substitutes. The responsibility of proactively advertising the OLED Smart TV predominantly falls on the retailers after consumers become aware of the OLED Smart TV and have a developed knowledge of the three different product levels.
If we refer to products, people often take them as the things we get from suppliers with a price. Apparently, this is a definition from the perspective of exchanges and does not quite catch the essence of the meaning of product in the marketing discipline. In this regard, Rothschild (2009) offered a probably better definition for products as a bundle of benefits for customers. This definition also offers an important perspective for JB Hi-Fi to understand its products. Because after all, JB Hi-Fi is only a retailer and all its home theatre products are sourced from their manufacturers. If JB Hi-Fi only sees its products as the tangible parts, it may miss out the very important parts of the competition. However, if JB Hi-Fi sees the product as a bundle of benefits it can offer to its customers, the tangible part is only part of this bundle. There is much more for JB Hi-Fi to offer to improve the benefits to customers, and at the same time differentiate itself from its competitors.
The LG Group was born in South Korea in 1947, combined other two Korean companies named Lucky and Gold-star. And has operations in various segments such as chemical, energy, machinery, metals, finance and services. Its logo consists of two elements, the letter LG gray and symbols in red, the letters "L" and "G" stand for "Life's Good" in the slogan, however LG stands for its name. (Huang, J. & Kim, H., 2013). LG Inc. is one of the global leaders and technology innovators in consumer electronics, mobile communications and home appliances in the world. The main arm of the group is LG Electronics. Established in 1958, quickly became a global force in converging technology products in electronics, information and communication, designed to meet the needs of different customers and improve their lives. As a worldwide corporation, LGE's operates under the product concept of marketing management. Is a company that is devoted to "fast innovation and fast growth" (LG Electronics Sustainability Report, 2013). Focused on developing new electronics products, according to the LG Annual Report 2013, based on an LG internal survey of “TV models available for purchase in 2013” the first TV with OLED technology in the world is of LG, the Curve LG OLED TV in the first moment, is being a product development for a rich and specific niche, LG believes that this model will be standard in the coming years. The objective of this essay is to analyse the marketing mix of the this new LG TV.
We even now have watches that act like a phone and have most of the qualities that a phone does, or at least the iphone. In 1970 they had block phones and black, grey, and white tv’s. We now have tv’s with color but not only color, we have some that have high definition and an edge or curve.A edge or curve is a tv that kinda makes the screen pop out at you is is more clear to see or easy on the eyes, as if it were in real life but glows more and looks a little better. We are even soon to have 3D tv
27 Jan. 2012. Greenblatt, Alan. “Television's Future.” CQ Researcher, Vol. 17 (2007, February 16): 145-168.
The Digital Video Recorder used in modern entertainment systems can now be replaced with an easy to use streaming video devices. As the online video libraries grow to include more content, eventually streaming set top boxes will provide this functionality, without the need to schedule recordings or manage space used by previous recordings. One additional advantage, often referred to as TV Anywhere, allows viewing of online content from a variety of devices, as long as an Internet connection is available. Now the real motivation that drives many Americans to consider these alternative options is money.
The monitor is likely the most important part of the computer. Without it, you would have no idea what you were doing. Imagine trying to write a term paper, or surf the Internet without one. It would be impossible. While the technology powering the displays doesn’t change as fast as it does for other parts of the computer, there are advances which provide consumers with many choices for displays. Today, the most popular displays come in two types, Cathode Ray Tubes (CRTs) and Liquid Crystal Displays (LCDs). CRTs have been around longer, and are the most common due to the fact that they are cheaper. However the convenient size of LCDs along with falling prices has made them a popular choice as of late. This paper will examine the similarities and differences of the two, and try to determine if one is better than the other.
This paper will discuss the invention of the Television and how far television has come to where it stands today. The overpowering electronic devices are taking over Families TV viewing habits. Families would come together, share thoughts and laughter with one another over a show, but not anymore.
Well-known product. The ------offers a brand name known internationally. Besides the company has been well known for their quality, freshness, and taste of its products.
We see advertisements all around us. They are on television, in magazines, on the Internet, and plastered up on large billboards everywhere. Ads are nothing new. Many individuals have noticed them all of their lives and have just come to accept them. Advertisers use many subliminal techniques to get the advertisements to work on consumers. Many people don’t realize how effective ads really are. One example is an advertisement for High Definition Television from Samsung. It appears in an issue of Entertainment Weekly, a very popular magazine concerning movies, music, books, and other various media. The magazine would appeal to almost anyone, from a fifteen-year-old movie addict to a sixty-five-year-old soap opera lover. Therefore the ad for the Samsung television will interest a wide array of people. This ad contains many attracting features and uses its words cunningly in order to make its product sound much more exciting and much better than any television would ever be.
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
...ials to make their products rather than using materials that carries hazardous materials. There widespread of products help expand the company all around the world, and inspire the world with great performance and design.
their products/services. They are given a product/service and are required to use their best creative effort to make this product desirable to the intended audience (Krugman 37).
Now before we get this show on the road, why don’t we look at all the great things that electronics allow us to do now-a-days? Let’s focus on an example most of us can understand: Sesame Street. “The impact of “Sesame Street,”... finds that the famous show on public TV has delivered
This makes it possible for LED technology to keep developing rapidly and to keep increasing its market share. With more and more LED lighting products being introduced to the market, what do retailers and consumers need to know to make the right buying decisions? That’s