Market Analysis for LG Group Essay

Market Analysis for LG Group Essay

Length: 1803 words (5.2 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

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.
The Marketing mix of Curved OLED Smart TV

The tradit...

... middle of paper ...

...Santos, M., & Inkpen, A. C. (2009). Joint ventures and alliances. In M. Kotabe & K. Helsen (Eds.), The Sage handbook of international marketing. 198- 217. Thousand Oaks, CA: Sage. doi:10.4337/9781781005224.00035

Singh, J.,Kalafatis, S. P., Ledden L. (2014). Consumer perceptions of co-brands: the role of brand positioning strategies, Marketing Intelligence & Planning, 2014, Vol.32(2), p.145-159. doi: 10.1108/MIP-03-2013-0055
Van Waterschoot W & Van den Bulte. 1992. The 4P Classification of the Marketing Mix Revisited. Journal of Marketing, 56 October: 83–93.

Yeoman, I. & McMahon-Beattie, U. (2006). Luxury Markets and Premium Pricing. Journal of Revenue & Pricing Management, 4(4), pp.319–328. doi:10.1057/palgrave.rpm.5170155

Zeithaml VA & Bitner MJ. 2003. Services Marketing: Integrating Customer Focus Across the Firm. 3rd ed. New Delhi: McGraw-Hill.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Inditex Group Essay

- Inditex is one of the principal fashionable distributors of the world that have 3,106 establishments at 64 countries, with eight commercial formats - Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Kiddy 's Class -. The Inditex Group joins together in addition to a hundred of affiliates with the different activities that conform the business of the design, the manufacture and the textile distribution. The singularity of his management model, based in the invention and flexibility, and the attained achievements, they have turned Inditex into one of the bigger groups of distribution of fashion....   [tags: Company Market Analysis Distribution]

Free Essays
1292 words (3.7 pages)

Aetna: A Target Market Analysis Essay

- Overview: With an evolving market in the various fields marketing, companies needed to readjust their and update their marketing strategies. Centuries ago, a company that needed to market for its products would just post a paper note at the main town street and if people liked the product it would be sold. In the 21st century, marketing became an essential field and necessary branch in any company that plans to succeed. Aetna recognized this necessity and while analyzing the company’s strategies and structure, one can recognize the un-doubtful organization in identifying their target market....   [tags: Market Research ]

Better Essays
1396 words (4 pages)

Market Research Implementation Plan Essay

- Market Research Implementation Plan Disney resorts currently exist in numerous locations across the world. In an effort to expand to South America, Disney must determine how potential customers, as well as locals to the Rio de Janeiro locale would feel about the new resort. Disney must utilize marketing research to make this determination, and the following discusses the four types of research methods Disney might use. Determining the research tools is an important step for the company because they are the ones that will be used to collect and analyze the data to determine the needs of the market....   [tags: Market Research ]

Better Essays
1945 words (5.6 pages)

Essay Customer and Market Analysis of the Disabled Population

- ... Looking at the app myself it was clear to see why he was not a fan. The app was very boring, said simply it sucked. It was at that moment that I realized that I had the ability to solve a unique need in the marketplace. I can create simple, fun, and cheap apps for special needs children to learn and grow with. It also occurred to me that while these apps will be focused on a very specific market they may also have educational appeal with an even larger growing demographic, children in school....   [tags: assistive devices, apps, children]

Better Essays
755 words (2.2 pages)

The Wallace Group Case Analysis Essay

- The Wallace Group Case Analysis Introduction The Wallace Group is a diversified company that deals in the manufacture and development of technical products and systems. The company consists of three primary operating groups, electronics, plastics, and chemicals. The electronics group is by far the largest, its size is approximately the size of the plastics and chemical groups combined. Of the $70 million in net sales, the electronics groups contributed about $35 million of that, with plastics contributing $20 million and the remaining $15 million coming from the chemical group....   [tags: Business Analysis]

Better Essays
1926 words (5.5 pages)

Identifying a Target Market Essay

- Introduction This report will provide a market target analysis of Hanndia Pest Control Service Pty Ltd. Hanndia Pest Control Services, specialise in working with real estate agencies to manage white ant infestation of rental properties, by applying an environmentally friendly fumigation barrier. The main office is located in the Brisbane City council suburb of Calamvale, South Eastern Queensland, with a total of 20 employees. This includes the manager, field officers and administrative support. The purpose of this report is to identify the market target for Hanndia Pest Control Services....   [tags: Business Analysis Market]

Free Essays
1764 words (5 pages)

Essay on Marketing At The Vanguard Group

- Marketing at the Vanguard Group In light of an evolving market, faced with new competitors, and after a careful analysis of their current customers, the Vanguard Group (hereinafter referred to as “Vanguard”) realizes it must rethink its entire marketing strategy. However, in order to protect and leverage their competitive advantage, which is their low management fees, and to optimize the loyalty that their customers continuously demonstrate toward their organization, they must now target the most profitable segment for them, and develop the best way to serve and delight these customers....   [tags: Business Analysis Management Marketing]

Better Essays
1998 words (5.7 pages)

A Maturing Market for Blockbuster Essay

- A Maturing Market for Blockbuster Market growth slowed in 2004 and reached $31 billion, and it is forecast to decline slightly in 2005 to $30.2 billion, after averaging around $3 billion in annual increases between 2000 and 2003. Up to 2003, market advances were due to rising penetration of DVD hardware, however, as penetration reaches over 80% of households in 2005, and late hardware adopters purchase less software than early adopters, the market is maturing....   [tags: Business Market DVD Movie]

Free Essays
1624 words (4.6 pages)

Olivers Market Essay

- 1. What competitive pressures must Oliver’s Market be prepared to deal with. What do we learn about the nature and strength of the competitive pressures Oliver’s faces from doing five-forces analysis of competition. Which of the five competitive forces is the strongest. The competitive pressures that Oliver’s Market must be prepared to deal with are the pressure associated with the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry and the pressure associated with the threat of new entrants into the market....   [tags: Business Analysis Market Strategy]

Better Essays
1751 words (5 pages)

The Global Pharmaceutical Market Forecast Essays

- MARKET OVERVIEW The global pharmaceutical market is a multibillion-dollar industry. The 10 largest drug companies control over one-third of the market, several with sales of more than $10B a year and profit margins of 30%. Six of these companies are based in the U.S. and four are in Europe. It is predicted that North and South America, Europe, and Japan will continue to dominate by accounting for 85% of the world’s pharmaceutical market. Companies currently spend one-third of all sales revenue on marketing, which is roughly twice of what they spent on R&D (“Pharmaceutical Industry”)....   [tags: International Pharma Market Forecast, 2015]

Better Essays
2413 words (6.9 pages)