LG's Strategy

hi nidhi....trying to find out on Korea..but the following is an awesome case study....on LG in USA....its first ever foriegn venture......

Issues
The U.S. consumer electronics marketplace is one of the most complex and competitive in the world. With a myriad of brand choices, a fragmented audience and a willingness by many competitors to sell below cost in an attempt to gain market share, barriers to success for new market entrants are daunting. In 1999, Korean-based LG Electronics launched its first foray into the U.S. consumer electronics market by purchasing a well-recognized American company, Zenith Corporation. In 2003, LG embarked upon a campaign to reposition itself as a leading global consumer electronics brand.

Challenge
LG was primarily known for its low-cost home appliances, such as air conditioners and refrigerators, but the conglomerate had its sights set on a bigger prize—becoming one of the world’s top three consumer electronics companies by the year 2010.

As part of that initiative, Ogilvy PR was selected to launch the LG brand in the United States, build awareness of LG's state-of-the-art high-end consumer electronics products as well as unveil LG's new Times Square LED billboard.

Insight
Analyzing data to select the correct audience profile, focusing on reaching mainline consumers, trendsetters, hipsters and the affluent was paramount. Through extensive research about the competitive set, consumers and buying habits, we identified key media and confirmed that LG had to break through the clutter to be in the forefront of mind of the consumer.Campaign
Launch the LG brand in the U.S. by unveiling the world's most technologically advanced and interactive LED billboard.

• Pucker Up New York—radio promotion & street marketing campaign—asking New Yorkers to kiss live on the billboard

• Concurrent radio media tour featuring new LG products and brand messages

• Strategic media placements for the world's first 76-inch plasma display panel

• Evening reception for key industry influencers, city officials and media

Results
• The Monday before the event, consumers were offered a sneak peak on The Early Show

• "Pucker Up New York" created excitement, media coverage and thousands of consumers interacting with the new LG billboard

• National radio media tour yielded more than 25 hits in major markets

• Approximately 100 media attended the Times Square event including The New York Times, Forbes, NBC’s Today Show, CBS' This Morning, Maxim, Popular Science, New York Magazine, Rolling Stone, US Weekly, TWICE, CE Online, Sound & Vision, MTV, etc.

• More than 200 city and industry influencers in attendance at evening event, including the Deputy Mayor of New York City

• A Reuters exclusive generated worldwide coverage

• Morning after coverage included a USA TODAY feature with a photograph of a 76-inch plasma display panel

• More than 100 stories have appeared in print, broadcast, and online outlets

• Result: $3.2 MM advertising equivalency


even check out this link...........
http://www.strategiy.com/electronicsnew.asp?id=20050904053625
 
Re: LG's Strategy

Hi Guyz..
I need info on LG's Strategy in India as well as Korea.. so if u'll have any info.. then plz do share..

Nidhi

Well nidhi, as we know that LG is the leading brand of electronic products. I have a document on the strategy of LG and would like to share it with you in order help you in your project. So please download my document and check.
 

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