Promotional and Advertising Strategies
BUS 508 Contemporary Business
Dr. Keith Graves
December 10, 2014
The two companies that will be discussed in this assignment will be LG Electronics and Samsung. LG Electronics was established in 1958 and has led the way into the advanced digital era thanks to the technological expertise acquired manufacturing many home appliances such as radios and televisions. LG Electronics has unveiled many new products such as technologies in the form of mobile devices and digital televisions in the 21st century and continues to reinforce its status as a global company. LG Electronics innovation is inspired by their customer's needs. LG Electronics hope to empower their customers in return. LG are driven to create products that make people smile and to build brilliant solutions that make life more creative for all of their customers.
Samsung is a South Korean multinational electronics company established in 1969 and headquartered in Suwon, Korean. Samsung electronics has assembly plants and sales network in 80 countries and employs around 370,000 people. Samsung has long been a major manufacturer of electronic components such as lithium ion batteries, semi conductors, chips, flash memory and hard drive devices. Samsung creates these products for clients such as Apple, Sony, HTC, and Nokia. Their recent major popularity from Samsung Galaxy lines of devices. Samsung has been the world's largest manufacturer of LCD panels since 2002 and also the world's largest television manufacturer since 2006 and largest manufacturer for mobile phones since 2011
Samsung Electronics displaced Apple Inc. as the world's largest technology company in 2011 and now is still remained the world's largest manufacturer from South Korean economy. Samsung is leading company manufacturing the mobile devices as Android phones right now.
LG Promotional Strategies
LG sets the trend for companies by being competitive and maintaining a good position in the market. LG makes household goods for the consumers like washing machines, refrigerators, TV’s and mobile communications. LG knows there are many companies out there doing the same but they focus on the latest innovations for their consumers to suit their everyday essential needs. LG also focus on creating a great brand image. LG established themselves in developing countries while making all of their products easy to use and made with modern designs. LG made a wide range of products to serve all categories. LG did a lot of research and development to create the right products for the consumers to satisfy their needs. Their market mix is product and price. LG made their products available in large retail showrooms, malls, private retail shops. Their services are available in more than 110 countries around the world and controls 114 local subsidiaries in India. LG promotes its products through Newspaper, T. V., Radio, hording and taking part in events. LG made a Regional Channel Strategy and Wide Distribution Network. LG also used a key strategy called Product localisation. LG also relies on the loyalty and trust of its customers and the trough efficient communication tools with the cooperation of many famous companies worldwide like Best Buy! Samsung Promotional Strategies
Samsung marketing strategy is very different from LG. Samsung's majority of their budget is received from their financial budget. For example, their launch for Samsung Galaxy S4 cost five times more than their other marketing efforts and has the biggest budget than that of Apple's. It is apparent the South Korean smart phone company is still taking a lot of effort in improving their promotional campaigns. Samsung has had their focus on their marketing strategies instead of innovating their product as LG has. Their expensive smart phones are still manufactured in plastics while their competitors have...
References: DOVLEAC, L., & BĂLĂŞESCU, M. (2012). MARKETING MIX FOR CONSUMER HIGH
TECHNOLOGY PRODUCTS. Bulletin Of The Transilvania University Of Brasov. Series V: Economic Sciences, 5(1), 41-48.
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