Project on LG

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Project on LG

Mission Statement3
Core Values3
How the present strategies are within the mission, vision and core values3
Present Strategy3
Market Analysis3
PESTLE Analysis4
Political factor4
Economical factor4
Socio-cultural factors5
Technological factors5
Legal factors5
Environmental factors5
Industry/ Competitive Analysis6
Industry in which LG Competes6
Industry performance for last 5 years and projections for next 3 years6
Market share of Top 5 players by segments7
Market share of organized and unorganized for last year and projection for next three years8
Industry’s 5 competitive forces9
Indirect Competitors of LG Electronics (Brown Goods) –9
Top Direct Competitors of LG Electronics in INDIA –9
Competitive advantages of Samsung Electronics –10
Competitive Advantages of Sony Electronics –10
Competitive Advantage of Videocon –10
SWOT Analysis of LG Electronics –10
Performance Review11
Past performance of the product and elements of the marketing mix11
Objective of the company13

Mission Statement
To become a top innovative electronics company in the world. It takes pride in its company and employees and believes that this is what will make it into one of the most innovative companies of the 21st century.  Vision

LG’s vision is to deliver innovative digital products and services that make our customers’ lives better, easier and happier through increased functionality and fun. Core Values
Global, Tomorrow, Energy, Humanity and Technology are the pillars that this corporation is founded on; with the capital letters L and G positioned inside a circle to centre our ideals above all else, humanity. The symbol mark stands for our resolve to establish a lasting relationship with, and to achieve the highest satisfaction for our customers. How the present strategies are within the mission, vision and core values By adopting the Blue Ocean Strategy LG will be able to sustain its leadership position. BOS provides a systematic way of identifying and creating high growth opportunities. LG is looking not just to maintain its leadership position in India, but to continue to grow, and to transition from a mass brand to a premium one. Through the adoption of this policy, LG plans to launch products or services which create or significantly increase its market shares and profit by offering differentiated values in view of customers. The move to adopt Blue Ocean Strategy is seen as an ambitious drive to resurrect LG globally. The strategy aims at designing in order to exploit opportunities, so far untapped; either within the present segments of LG or outside, where there is zero or negligible competition. Present Strategy

* Local and efficient manufacturing to reduce cost
* Product localisation; LG came out with regional language menus on its TV * Introduction of low priced products for the rural market especially in the TV segment * LG has adopted the regional distribution model in India * Offering affordable products at a lower margin –cutting on volume to bring in revenues * LG is adopting the Blue Ocean Strategy (BOS) in India as part of its global strategy * BOS gives a frame work for breaking away from the competition to achieve high customer value and profitability simultaneously * Blue Ocean Products are products and services which create a differential value for the customer, thus opening up vast, new markets to drastically improve profitability and market share * Blue Ocean Business Model is one that focuses the efforts of the company on providing differentiated value to customers. Market Analysis

- Demographic
Higher income group
- Geographic
Tier 1 and Tier 2 cities
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