LG Electronics SWOT Analysis, USP & Competitors

Posted in Consumer Electronics, Total Reads: 24585
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SWOT Analysis of LG Electronics with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

LG Electronics

Parent Company

LG Group

Category

Consumer Electronics

Sector

IT and Technology

Tagline/ Slogan

Life’s Good

USP

Innovative Technologies and Cutting edge Designs; Health (in Indian Consumer Durables Market)

STP

Segment

Mobile Communications, Home Entertainment, Home Appliances, Air Conditioning, and Energy Solutions

Target Group

Consumer Durables: Currently mass market, efforts are on to shift to a more premium segment

Mobile Phones: Youth/Generation

Positioning

Technology that offers you more and sets you free

SWOT Analysis

Strengths

1. Wide range of products to serve all categories and a strong focus on technology and quality

2. Effective localization of product offerings for growth markets like India, Brazil, China

3. Brand offers sound rational appeal – good product features and good value for money

4. Good after sales service and wide distribution network

5. Subsidiaries enjoy independence in decision making and hence have flexibility in adapting to the local market

6. Sponsorship of sports and entertainment events enhances visibility

7. It has nearly 100,000 employees and is one of the top mobile manufacturers

Weaknesses

1. Brand lacks influence in the opinionated segment of early adopters especially in the social media environment

2. Brand has limited market share compared to market leaders

Opportunities

1. Fast growth of home appliances, electronics goods market in emerging economies

2. Convert improved brand image and awareness in to market share

3. Increase the already Wide product portfolio

Threats

1. Price war with close Korean competitors like Samsung can disrupt growth in price sensitive markets

2. Highly competitive industry dynamics

3. Stagnant urban demand

4. Instances of false green claims can erode brand value and consumer trust

Competition

Competitors

1. Samsung

2. Sony

3. Panasonic

4. Toshiba

5. Whirlpool



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