Lg Rural Strategy
- Submitted by: aditiuppal
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- Category: Other
- Date Submitted: 10/31/2010 10:31 PM
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LG – RURAL MARKETING STRATEGY
LG Electronics India Pvt. Ltd. Is all set to be a market leader in technologically superior electronic products with focus on high end products and impetus on quality, service and value for products. The company is consciously targeting the quality market and the value market with specific products.
TARGET MARKET
The Indian rural market is growing at a very fast pace and LG targets it with high technology products at a reasonable price. It is also training its sights on the institutional and governmental segment anew. The idea is to grow sales from the institutional segment from 5% to 10% the next year. As part of its strategy to tap the rural markets, it has initiated steps in Andhra Pradesh, Tamil Nadu, Punjab and Haryana, mainly targeting the rich and the middle class of agricultural segment.
COMPETITON
Apart from the technology edge, LG is banking on its grassroots-level marketing to edge out competing heavyweights like BPL, Videocon, Samsung and Whirpool.
According to Brand Scan 2001, a comprehensive study of consumer durable conducted by the Chennai based Francis Kanoi market research firm, whats worked in LG’s favor is its positive image on the technology platform. Among refrigerators, LG has outperformed other brands on the status parameter since 1999, acquiring the status of the fourth most favored brand in the country. It has also become the fourth most favored brand among intending buyers. On top-of-mind awareness, Kelvinator and LG are the only two brands that show an upward movement on top-of-mind awareness.
LG’s penetration and perception is not restricted to just high-income segments, but villages and lower-income households too. It has also been the fastest growing CTV brand.
PRODUCT
Human touch is high on the company’s agenda and the product image is based on human aspects and health. There is the wrinkle free TV, The Golden Eye, which has colors changing according according to ambience. The ‘Preserve...
LG Electronics India Pvt. Ltd. Is all set to be a market leader in technologically superior electronic products with focus on high end products and impetus on quality, service and value for products. The company is consciously targeting the quality market and the value market with specific products.
TARGET MARKET
The Indian rural market is growing at a very fast pace and LG targets it with high technology products at a reasonable price. It is also training its sights on the institutional and governmental segment anew. The idea is to grow sales from the institutional segment from 5% to 10% the next year. As part of its strategy to tap the rural markets, it has initiated steps in Andhra Pradesh, Tamil Nadu, Punjab and Haryana, mainly targeting the rich and the middle class of agricultural segment.
COMPETITON
Apart from the technology edge, LG is banking on its grassroots-level marketing to edge out competing heavyweights like BPL, Videocon, Samsung and Whirpool.
According to Brand Scan 2001, a comprehensive study of consumer durable conducted by the Chennai based Francis Kanoi market research firm, whats worked in LG’s favor is its positive image on the technology platform. Among refrigerators, LG has outperformed other brands on the status parameter since 1999, acquiring the status of the fourth most favored brand in the country. It has also become the fourth most favored brand among intending buyers. On top-of-mind awareness, Kelvinator and LG are the only two brands that show an upward movement on top-of-mind awareness.
LG’s penetration and perception is not restricted to just high-income segments, but villages and lower-income households too. It has also been the fastest growing CTV brand.
PRODUCT
Human touch is high on the company’s agenda and the product image is based on human aspects and health. There is the wrinkle free TV, The Golden Eye, which has colors changing according according to ambience. The ‘Preserve...