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Promotion in the Marketing Mix of LG - Case Study Example

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Subject: Business
Type: Case Study
Level: High School
Pages: 26 (6500 words)
Downloads: 0

Extract of sample "Promotion in the Marketing Mix of LG"

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The paper "Promotion in the Marketing Mix of LGitle" is a perfect example of a case study on business. It is important to highlight that this paper delves into the discussion of LG. This is a South Korean multinational corporation that deals with the manufacturing of electronic items. The company was founded in 1958 as a Gold star. The company is headquartered in Yeoudo-dong in Seoul. The company deals in five categories of electronics: home appliances, air conditioning, and energy solutions, home entertainment, mobile communications, and vehicle components. The products of the company include home theaters, washing machines, refrigerators, smartphones, televisions, air conditioners, wearable devices, computer monitors, and smart appliances (Smit, 2008, page 23).

Effective positioning begins with the targeted groups and segmentation of the market. LG Company has segmented the market on the following basis (Horn, and Faulkner, 2010, page 197).:

Demographic: the company has looked at various variables such as the level of income. The targeted market for the company are upper-income earners and therefore this is a calculative approach that the company has affected for establishing itself well in the market.
Psychographic: - on psychographic segmentation, the aspects that the company has focused on are the behavior of the people towards fashion and trends in the market, the personality, and lifestyle of the people, and the attitude. The company has it in mind that the attitude of the people towards her products determines the market acceptance and consequently the sales hence the need to ensure quality measures.

The products that are sold by LG are of high quality hence the of the core reasons that the company has gained customer loyalty. The company has the desire to be the global leader in technology and therefore invest heavily in technological research and operations (Kotler and Armstrong, 2010, page 43).
An economically competitive business has in many cases conducted and still conducts regular market research. This is very ideal for the success of the business because they will determine the prevailing products in the market and then modify its products.

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