Advertising Strategies of LG Electronics

Description

Advertising Strategies of LG Electronics (Final Project Report)

Page Length : 70

EXECUTIVE SUMMARY 

LG is a Multinational Company having its presence all over the world.

Then studies were made about LG’s corporate history, its origin, developments, expansions, strategies etc. The chosen area i.e. advertising is discussed in the subsequent sections.

After studying about the company, a rough idea can be obtained of how multinational or corporate life is all about & how it works.

These MNC’s have got a very different way of handling the man power in the organizations. They give such environment where an employ can think about his growth and how to achieve it.

The aim of the project was to shed some light on the Advertising Strategies of LG Electronics and to know about the stand of LG Electronics in the market.

The company profile, giving details about the sub-divisions of the company i.e. Multimedia Division, Home Electronics Division and Display Division is given; along with a brief history of the company starting from 1958 to 2010 in the form of timeline is also given. The History helps to understand the achievements or the accolades, the company has achieved till date.

For the research, a questionnaire was designed and given to people so that choices could be given to the people so that in return they could give their own personal opinion.

Data sources included both types viz. Primary Sources like Interviews, Questionnaire, etc and Secondary Sources like Internet, Reference Books, etc.

A detailed research on the main topic – Advertising Strategies of LG has been done next, highlighting along with it topics like effective advertising and consumer preferences.

Data Analysis was performed next on the basis of the interviews and replies of the people through the prepared questionnaire. It was found that LG had a respectable stand in the market and that many people found LG’s Advertising Strategies to be attractive.

The basic conclusions that could be drawn out of the whole project were that LG had more than survived during the past three years in the market. It could also be easily made out that there was a lot of strict competition in the market and that the buyers had a lot of options to choose from. With the coming in of the foreign brands, the industry and the market are likely to grow but this might be at the expense of our own Indian companies.

If LG is to grow successfully in the future, honest schemes must be launched by them along with special focus on rural areas. Various customer oriented schemes like – after sale services, customer care centers must be launched. Value for money must be provided.

Lack of time allotted for the project, Convincing customer to spend some time for questionnaire, Lack of reliability of secondary data, not enough time to share the views with the management – were some of the limitations that were faced while making the project.

Content