Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of LG Electronics analyses the brand by its strengths, weaknesses, opportunities & threats. In LG Electronics SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like LG Electronics to benchmark its business & performance as compared to the competitors. LG Electronics is one of the leading brands in the consumer electronics sector.
The article below lists the LG Electronics SWOT (Strengths, Weaknesses, Opportunities, Threats), top LG Electronics competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Innovative Technologies and Cutting edge Designs; Health (in Indian Consumer Durables Market)
LG Electronics STP
Mobile Communications, Home Entertainment, Home Appliances, Air Conditioning, and Energy Solutions
Consumer Durables: Currently mass market, efforts are on to shift to a more premium segment
Mobile Phones: Youth/Generation
Technology that offers you more and sets you free
SWOT Analysis of LG Electronics
For LG Electronics, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Let us start the LG Electronics SWOT Analysis:
LG Electronics Strengths
The strengths of LG Electronics looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of LG Electronics :
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
LG Electronics Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the LG Electronics SWOT Analysis:
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
LG Electronics Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in LG Electronics SWOT Analysis:
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
LG Electronics Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of LG Electronics are as mentioned:
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
LG Electronics Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of LG Electronics:
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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